CFE Study Guide 2026
Everything you need to pass the CFE exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CFE Exam Format at a Glance
📚 CFE Topics to Study (69)
✍️ Sample CFE Questions & Answers
1. Each of these agencies is a good fit for the kind of information it gives, except:
Maintaining birth records and SSN information is not a State Attorney General function — vital statistics are kept by state health/vital records offices and SSNs by the Social Security Administration. The other three correctly match the DOJ, CIA, and Secret Service to their actual responsibilities.
2. Which internal control is most effective at preventing a billing scheme involving fictitious vendors?
Maintaining a controlled vendor master file with independent approval of new vendors prevents employees from adding fictitious vendors to submit fraudulent invoices.
3. Which of the following financial statement fraud schemes would most directly cause gross profit margin to be overstated?
Gross profit margin equals (Sales minus COGS) divided by Sales, so understating COGS directly inflates this metric.
4. Which of the following rights must be given to a suspect who is being interrogated in a custodial setting by law enforcement, per Miranda v. Arizona?
Miranda warnings require law enforcement to inform custodial suspects of their right to remain silent and their right to legal counsel before interrogation.
5. Which analytical procedure compares each line item in a financial statement as a percentage of a base figure (e.g., total sales) to identify unusual relationships?
Common-size analysis expresses each line item as a percentage of a base amount, making it easy to spot proportions that deviate from expectations.
6. This is what the Gramm-Leach-Bliley Act lets:
The Gramm-Leach-Bliley Act covers all three: it permits financial institutions to share and sell customer information while also requiring that customers be given the right to opt out of having their information shared. Because each option is a valid provision, 'All of the above' is correct.
🎯 Free CFE Practice Tests
📖 CFE Guides & Articles
- Passing the CFE Exam: The Complete Study Guide for Aspiring Certified Fraud Examiners
- CFE Candidate Guide: Everything You Need to Pass the CFE Certification Exam
- CFE Exam Dates: Everything You Need to Know to Schedule Your Exam
- CFE Exam Results: What to Expect After You Submit Your Exam
- CFE Pass Rate: What It Takes to Pass the CFE Exam
- CFE Certification Cost: What You'll Pay to Become a CFE
- CFE Jobs: Careers for Certified Fraud Examiners
- Certified Fraud Examiner