CERTIFIED FRAUD EXAMINERS CFE EXAMS
PACKAGE DEAL COMPLETE GUIDE
COMPREHENSIVE SCRIPT 2026 COMPLETE
QUESTIONS AND SOLUTIONS GRADED A+
⩥ 3 types of insurance/broker fraud. Answer: (1) Premium theft [agent
takes premium, doesn't give it to insurer] (2) Fictitious payees [change
beneficiary to fake person, steal money] (3) Fictitious death [fabricate
death certificate, get money]
⩥ Pass-through scheme. Answer: Set up shell company, buy product
low, sell product high
⩥ Which is more difficult, cash larceny or skimming?. Answer:
Skimming
⩥ Percentage-of-Completion Method. Answer: Revenue recognition
method in which companies recognize revenues, costs, and gross profit
as progress is made toward project completion.
⩥ Historical Costs. Answer: The proper basis for the recording of assets,
according to the U.S. GAAP. Initial acquisition cost.
, ⩥ 4 types of check tampering schemes. Answer: (1) Forged maker (2)
Forged endorsements (3) Altered payees (4) Authorized maker
⩥ 5 types of fraudulent disbursement schemes. Answer: (1) register
disbursement (2) check tampering (3) payroll (4) billing (5) expense
reimbursement
⩥ Asset Turnover Ratio. Answer: net sales/average total assets
⩥ Quick Ratio/Acid Test Ratio. Answer: Determines what assets can be
quickly liquidated; (Cash + marketable securities + receivables) / current
liabilities)
⩥ Economic Espionage Act (1996). Answer: Outlawed economic
espionage & theft
⩥ 4 Elements of Perjury. Answer: (1) False Statement (2) Falsehoods
Under Oath (3) Material/Relevant Falsehoods (4) Knowledge of
Falsehoods
⩥ T/F - Fraud examiners can testify to opinions concerning a defendant's
innocence.. Answer: False
⩥ Direct Examination. Answer: the first questioning of a witness by the
side that called the witness to the stand
PACKAGE DEAL COMPLETE GUIDE
COMPREHENSIVE SCRIPT 2026 COMPLETE
QUESTIONS AND SOLUTIONS GRADED A+
⩥ 3 types of insurance/broker fraud. Answer: (1) Premium theft [agent
takes premium, doesn't give it to insurer] (2) Fictitious payees [change
beneficiary to fake person, steal money] (3) Fictitious death [fabricate
death certificate, get money]
⩥ Pass-through scheme. Answer: Set up shell company, buy product
low, sell product high
⩥ Which is more difficult, cash larceny or skimming?. Answer:
Skimming
⩥ Percentage-of-Completion Method. Answer: Revenue recognition
method in which companies recognize revenues, costs, and gross profit
as progress is made toward project completion.
⩥ Historical Costs. Answer: The proper basis for the recording of assets,
according to the U.S. GAAP. Initial acquisition cost.
, ⩥ 4 types of check tampering schemes. Answer: (1) Forged maker (2)
Forged endorsements (3) Altered payees (4) Authorized maker
⩥ 5 types of fraudulent disbursement schemes. Answer: (1) register
disbursement (2) check tampering (3) payroll (4) billing (5) expense
reimbursement
⩥ Asset Turnover Ratio. Answer: net sales/average total assets
⩥ Quick Ratio/Acid Test Ratio. Answer: Determines what assets can be
quickly liquidated; (Cash + marketable securities + receivables) / current
liabilities)
⩥ Economic Espionage Act (1996). Answer: Outlawed economic
espionage & theft
⩥ 4 Elements of Perjury. Answer: (1) False Statement (2) Falsehoods
Under Oath (3) Material/Relevant Falsehoods (4) Knowledge of
Falsehoods
⩥ T/F - Fraud examiners can testify to opinions concerning a defendant's
innocence.. Answer: False
⩥ Direct Examination. Answer: the first questioning of a witness by the
side that called the witness to the stand
