CFE-Investigation Training & Certification Get Latest Certified Fraud Examiner Updated on Sep 05, 2026
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The CFE-Investigation (CFE-I) certification exam is designed for professionals who specialize in investigating financial fraud. CFE-Investigation exam covers a wide range of topics related to fraud investigation, including interviewing techniques, data analysis, and legal considerations. The CFE-I certification is an advanced credential that demonstrates a high level of expertise in the field of fraud investigation.
ACFE CFE-Investigation exam is a rigorous exam that is designed to test the knowledge and skills of individuals who are involved in fraud investigation. CFE-Investigation exam is computer-based and consists of 125 multiple-choice questions. Candidates are required to complete the exam within four hours. CFE-Investigation exam is designed to test the candidate's understanding of the concepts and principles of fraud investigation, as well as their ability to apply these principles in real-world situations.
NEW QUESTION # 61
When a Certified Fraud Examiner (CFE) conducts a fraud examination the fraud examiner must proceed as though:
- A. The case will end after the suspect IB terminated
- B. The suspect is gully
- C. The case will end in ligation
- D. The matter will be resolved completely internally
Answer: C
NEW QUESTION # 62
Allison, a Certified Fraud Examiner (CFE). is investigating a potential procurement fraud scheme. While interviewing a subject, she asks. "Why did you choose to do business with that vendor?" This can BEST be described as a(n):
- A. Complex question
- B. Leading question
- C. Open question
- D. Closed question
Answer: C
NEW QUESTION # 63
Which of the following is one of the purposes of closing questions in a routine interview?
- A. To assess whether the subject is ready to confess
- B. To close the interview positively and maintain goodwill
- C. To reduce testimony to a signed, written statement
- D. To confirm the credibility of the witness being interviewed
Answer: B
Explanation:
The2014 Fraud Examiners ManualandCFE Prepexplain:
"Closing questions seek to close the interview positively. In routine interviews, closing questions serve the following purposes: reconfirm facts, gather additional facts, and conclude the interview in a manner required to maintain goodwill." Thus, the correct answer isA.
NEW QUESTION # 64
Which of the following statements about fraud response plans is FALSE?
- A. A fraud response plan should create an environment to minimize risk and maximize the potential for success
- B. A fraud response plan must be simple to understand and administer
- C. A fraud response plan should specify how every fraud examination should be conducted regardless of the type of fraud
- D. A fraud response plan outlines the actions an organization will take when suspicions of fraud have arisen.
Answer: D
NEW QUESTION # 65
Talia has been hired by SBS Inc. to implement a new data analysis program to search for warning signs of potential fraud within the company. Which of the following steps should Talia conduct first to MOST EFFECTIVELY use data analysis techniques for such an initiative?
- A. Monitor the data.
- B. Build a profile of potential frauds.
- C. Identify the relevant data
- D. Cleanse and normalize the data.
Answer: C
Explanation:
TheFraud Examiners Manualexplains:
* "Before running tests on the data, the fraud examiner must make certain the data being analysed are relevant and reliable for the objective of the engagement... Using the profile of potential frauds as a guide, the fraud examiner must identify the target data for analysis".
NEW QUESTION # 66
Due to risks of illicit transactions, most jurisdictions require financial institutions to obtain information about which of the following from an institution with which they have a foreign correspondent relationship?
- A. The institution's client loan profiles
- B. The institution's ownership details
- C. The institution's investment portfolio
- D. The institution's tax statements
Answer: C
NEW QUESTION # 67
Delta, an interviewer with little experience, asks Sigma, the respondent, the following question: "Were you aware that the signature was forged, and why didn't you tell anyone earlier?" This kind of question is called a_____________question
- A. Free narrative
- B. Complex
- C. Double-negative
- D. Controlled answer
Answer: B
Explanation:
Complex questions:
"consist of a series of interrelated questions... too complicated to be easily understood, cover more than one subject, or require more than one answer".
The question asked by Delta ("Were you aware that the signature was forged, and why didn't you tell anyone earlier?") covers two issues, making itcomplex.
NEW QUESTION # 68
Shane, a Certified Fraud Examiner (CFE). is investigating Larsen. who is active on various social networking sites. Shane wants to search and extract information from Larson's social media postings so that it can be used in court as evidence Which of the following is the MOST ACCURATE statement regarding what Shane should do when conducting a social media investigation of Larsen?
- A. Shane should preserve the information from the social networking sites so that it can be established as authentic if used in court.
- B. Shane should email himself the links of the postings so that he can retrieve them later.
- C. Shane should preserve the information by saving the links of the postings in his 'bookmarks"
- D. Shane should conduct a forensic shutdown of his computer to preserve the metadata in the social networking sites.
Answer: A
Explanation:
"Documentary evidence, including digital evidence, will not be admitted... unless it is established as authentic... fraud examiners mustcapture, download, and preserve any useful information as soon as they discover it, and memorialize each step of the collection process".
NEW QUESTION # 69
Which of the following is the LEAST ACCURATE statement about seizing a computer for examination?
- A. When seizing a computer that is running, it is acceptable for a fraud examiner to review the files contained on the machine prior to seizing it.
- B. When taking a computer for examination, if the computer is off. it should remain off when it is removed.
- C. Before removing a computer system from a scene for further analysis, it is important to document the system's setup with photographs or diagrams.
- D. When seizing a computer for examination, the seizing party should took around the area for passwords because many people leave passwords near their computers
Answer: A
Explanation:
The manual states:
"When seizing a computer that is running, the party seizing the system should not, in most situations, search the computer for evidence because doing so might damage and taint relevant evidence." Thus,B is the least accurate statement.
NEW QUESTION # 70
Divya, a Certified Fraud Examiner (CFE), is considering whether to commence a legal action to recover assets for her client. Of the following choices, which is the MOST IMPORTANT question for Divya to ask before moving forward with the legal action?
- A. "What is the likelihood that the suspect did not actually commit fraud?"
- B. "Has the suspect been arrested for any crimes in the past?"
- C. "Does the defendant have sufficient money or property to satisfy a judgment?"
- D. "Is there a relevant statute of limitations for the offense?"
Answer: C
Explanation:
When the objective is asset recovery through civil legal action, the practical value of litigation depends heavily on collectability-whether a favorable judgment can be satisfied. CFE guidance on tracing and asset recovery highlights that tracing engagements are commonly undertaken specifically to determine whether a potential defendant can pay a court-ordered sum if judgment is entered, and to locate assets that can be used to satisfy a judgment. If the defendant is judgment-proof or has insufficient reachable assets, the legal action might be economically irrational even if liability is strong. While statute of limitations (D) is legally important, the question asks what is most important before moving forward with a recovery action; from an investigative and recovery perspective, the threshold question is whether there are assets to recover or a realistic path to enforcement. Past arrests (B) do not answer the recovery feasibility question. Option C misframes the decision: legal actions proceed based on evidence and counsel's assessment, but recoverability often drives whether to invest in litigation. Therefore, assessing whether the defendant has sufficient money or property to satisfy a judgment is the most important preliminary question.
NEW QUESTION # 71
After completing all necessary investigative steps. Erica, a Certified Fraud Examiner (CFE), is reasonably sure that Justine, her primary suspect, committed the fraud in question. Before scheduling an admission- seeking interview with Justine, what else should Erica be reasonably sure of?
- A. That Justine's employer will take disciplinary action against Justine if she confesses
- B. That Justine will confess to the accusation when prompted
- C. That no other person was involved in the fraud n question
- D. That the interview's time, place, and content can De controlled
Answer: D
Explanation:
The Manual says admission-seeking interviews should be conducted only when:
* There is reasonable probability the subject committed the act,
* All other reasonable investigative steps are complete, and
* "The interviewer can reasonably control the place, time, and subject matter of the interview.".
Therefore, Erica must ensure control oftime, place, and contentbefore scheduling.
NEW QUESTION # 72
Which of the following is NOT true about observing the reactions of interview subjects?
- A. To effectively observe reactions, an interviewer should move from less sensitive to more sensitive questions as the interview progresses.
- B. The interpretation of an interview subject's reactions requires specific skills on the part of the interviewer.
- C. The observation of a subjects body language is often just as important as the observation of the words used by the subject.
- D. Emotive words should be used early in the interview to observe the respondents emotional reaction.
Answer: D
NEW QUESTION # 73
Which of the following types of information would LEAST likely be found when searching external sources without the subject's consent or a legal order?
- A. A competitor's ownership information
- B. A witness s address
- C. A subjects employee personnel file
- D. Assets owned by a subject
Answer: B
NEW QUESTION # 74
Nathaniel, a Certified Fraud Examiner (CFE). is investigating an alleged inventory theft scheme. While interviewing a subject, he asks, "When were you promoted to manager of the department?" This can BEST be described as a(n):
- A. Leading question
- B. Complex question
- C. Open question
- D. Closed question
Answer: A
Explanation:
The Manual defines leading questions as those that contain or suggest the answer:
"Leading questions... are framed in a way that evokes a specific reply... most commonly used to confirm facts already known... Example: 'You got promoted, right?'" Nathaniel's question, "When were you promoted to manager?" presumes the promotion occurred. Thisleads the subject by suggesting a fact that may not be true. It is not open (does not invite free narration), not complex (it asks one thing), and not closed (doesn't call for yes/no but presumes an answer).
NEW QUESTION # 75
Beta, a Certified Fraud Examiner (CFE) is conducting an admission-seeking interview of Delta, a fraud suspect. In establishing a rationalization, Beta said to Delta 'I know you didn't do this for yourself; It was for your family. " This technique seeks to establish rationalization by:
- A. Reducing Deltas perception of the legal seriousness of the matter
- B. Reducing Deltas stress about possibly being fired
- C. Establishing that Delta's family was being treated unfairly
- D. Claiming Delta s action was for altruistic reasons
Answer: A
NEW QUESTION # 76
Which of the following statements is MOST ACCURATE regarding how a fraud examiner should prepare for an interview with a subject from a different jurisdiction?
- A. Failing to observe cultural norms is not a concern if the interviewer is from a different country than the interviewee
- B. A fraud examiner does not need to research cultural considerations such as personal space and eye contact.
- C. Consulting with legal counsel is only necessary when an investigation spans multiple junsdictions
- D. A fraud examiner should find out whether there are limitations on the use of information obtained during an interview
Answer: D
NEW QUESTION # 77
Which of the following statements about the limitations of using online databases for public record searches is MOST ACCURATE?
- A. It is very difficult to find a legitimate online database for accessing public records.
- B. Public records featured in electronic formats include too much detail to be efficiently analyzed.
- C. Availability of public records through online databases varies widely across jurisdictions.
- D. The public records produced by online database searches rarely contain correct information.
Answer: C
Explanation:
CFE investigative guidance recognizes online databases as valuable tools for locating public records quickly, but it also highlights practical limitations. The most significant limitation is that availability and coverage differ widely by jurisdiction. Some jurisdictions provide extensive online access to court files, property records, corporate registrations, and liens, while others provide limited access, partial indexing, or require in- person requests. This variability affects completeness and can create false negatives (records exist but are not available electronically). The guidance also cautions that online results may be abstracts, may not include supporting documentation, and can lag behind official updates-so investigators should verify key records with the originating agency when accuracy and completeness matter. Option A is not the primary limitation described; the more common problem is incomplete access rather than excessive detail. Option C is too absolute; errors can occur, but CFE methodology emphasizes validation, not the claim that records are "rarely correct." Option D is also overstated; while source credibility matters, the fundamental limitation is uneven jurisdictional availability and completeness.
NEW QUESTION # 78
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The CFE-Investigation certification is highly respected in the industry and is recognized by employers and regulatory bodies around the world. It is a mark of excellence that demonstrates a commitment to the highest standards of professionalism and ethical conduct. Professionals who hold the certification are highly sought after by employers and can expect to earn significantly higher salaries than their non-certified peers.
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