For anyone who made a New Year’s resolution to pass the CFE Exam this year, now may be the perfect time for you to take the first necessary steps to earn the Certified Fraud Examiner credential. Sometimes the hardest part of achieving a goal is simply getting started.
By Anjum Madan, CFE
For anyone who made a New Year’s resolution to pass the CFE Exam this year, now may be the perfect time for you to take the first necessary steps to earn the Certified Fraud Examiner credential. Sometimes the hardest part of achieving a goal is simply getting started.
I speak from experience. A year and a half ago, I participated in the 90-Day CFE Exam Challenge. Before I started the challenge, the idea of studying all of that material and passing the exam in three months felt way too daunting. But after going through it, I know it’s entirely possible. To help you get started, I have put together some tips that made a huge difference for me, hoping that they will help you attain your CFE in the coming months.
Create a schedule, keeping in mind your current commitments and what time of day you are best able to absorb new information. Consider waking up an hour early, devoting some time after dinner or having a designated study day during the weekend. For me, committing an hour every weekday morning worked best. If I was unable to study every day for one particular week, I would make up the time on Saturday morning. I would not do anything else until I had studied for at least five hours.
Decide how much time you want to devote, depending on how quickly you aspire to attain your CFE. Whatever your timeline is, create a list of all the steps you need to take, including taking the pre-assessment, collecting references and submitting your CFE Exam application. Assigning a date to each task ensures nothing gets missed and gives you a thrill when you can mark each one as complete.
I cannot stress how invaluable this is! As you go through the questions in the CFE Exam Prep Course, keep a notebook on hand and write down the concepts that you are unsure of and where in the Fraud Examiners Manual they are mentioned. At the beginning of every review section, go through your notes from the previous day, reading those sections of the manual if necessary. For me, these notes were a great way to review before taking practice exams and the actual CFE Exam.
There will be sections that you struggle on more than others. For those areas especially, consider how you study best. Maybe, like me, you understand better when reading a printed page with a highlighter in hand. Or perhaps you need to hear the information, in which case you may decide to record a clip of yourself reading the section and listen to it. Do what works best for you!
The CFE Exam Preparation group has more than 3,000 members who are currently studying for or have already completed the CFE Exam. They are a wealth of information and are happy to share their knowledge and tips. Start by searching through existing discussions in the community. You will find many CFEs have already shared what worked and didn’t work for them. Emulate what worked for them, adapt it to your own preferences and use their experiences to shape how you prepare. If you don’t find the answer to your questions, ask! Someone is sure to chime in with their insights.
Having a group of people who are also studying can help you stay motivated and on track. The ACFE runs a 90-Day CFE Exam Challenge three times a year. You can go ahead and sign up now, or if you don’t wait for the next one, post a message on the CFE Exam Preparation group in the community and create your own group to cheer each other on and ask questions.
With these tips in hand, I encourage you to take the first step toward earning your CFE credential and keep on working. There is so much to learn. The process of getting my CFE led me to discover a wealth of information about both fraud prevention and myself. Good luck!
The ACFE hosts the 90-Day CFE Exam Challenge. This program, which takes place in the online ACFE Community, provides participants with study tips and peer support to help them stay motivated to reach their goal of passing the CFE Exam.
