CFE - How To Become An ACFE Certified Fraud Examiner

Background of Institution and certification:

Association of Certified Fraud Examiners (ACFE) is considered to be the largest anti- fraud organization in the world which provides anti- fraud certifications and training. CFE, ACFE Certified Fraud Examiner is a premium certification provided to individuals who are willing to increase their professional excellence in anti- fraud profession. The certification is highly preferable for candidates seeking jobs in law enforcement agencies and government organizations. CFE can benefit an individual by distinguishing him from his competitors, enhancing his job security, providing an increased earning potential and showing clear professional credibility.

Prerequisites of certification:

CFE, ACFE Certified Fraud Examiner certification follows a point system. In order to become eligible for it a person needs to have a minimum of 50 points which are awarded on the basis educational credentials. If a person possesses points 40 to 50, he may attempt the paper but certification will only be provided once the individual gains 50 points. Before applying for the CFE, ACFE Certified Fraud Examiner certification a candidate should meet certain requirements in order to achieve 50 points which are as follows:

·         The applicant must have a Bachelor’s degree (or equivalent) from a recognized institute.

·         The candidate must have prior working experience of two year in the relevant field related to prevention and detection of fraud.

According to ACFE Board work experience in accounting and auditing, fraud investigation, sociology and criminology, law and loss prevention is considered relevant when applying for the CFE, ACFE Certified Fraud Examiner certification. A part from these categories a person whose job responsibilities comprise of fraud investigation and detection can also submit an application which will qualify as relevant experience.

Preparation:

The course related to CFE, ACFE Certified Fraud Examiner is a self- study course produced by ACFE. In order to prepare for the exam a candidate should download the CFE Exam Prep Course Guidebook available in PDF format. The guidebook provide detailed information about what is required by a candidate appearing for the exam, how to use the available study material, how often to review a session and how to check progress by attempting sample questions  provided in practice exams. A part from guidebook prep course study chart also available in PDF is also an important resource which will help in planning and organizing for the exam. In the end CFE Practice test comprising of 20 exam questions which covers all sections of the exam should be attempted to enhance the confidence.

Exam Format & Result:

The CFE, ACFE Certified Fraud Examiner exam is a computer based exam available online or as electronic download comprising of 500 objective exam questions. The exam is divided in to four different sections and each section comprises of 125 questions. The exam can take approximately 10 hours to complete. A maximum of 75 seconds can be given to complete one exam question as every section has been allocated a time period of 2.6 hours. It is a requirement by ACFE to complete one section in one goes however in order to complete the entire exam a person can take a month (30 days). In order to pass the exam a candidate should score 75% in every section. The result is being dispatched via email within 3-5 working days.

Conclusion:

Once a candidate has passed the examination and has minimum 50 points according to the point system he can apply for the certification and enjoy the privilege of being a certified fraud examiner.

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