CFE FAQs

Certified Fraud Examiner (CFE) Certification

CFE Exam Prep Course

  • Why is the CFE Exam Prep Course recommended?
    Designed with the busy anti-fraud professional in mind, the CFE Exam Prep Course® provides the flexibility you need to prepare for the CFE Exam on your schedule. Including study questions and practice tests that simulate the actual CFE Exam experience, the CFE Exam Prep Course will help you prepare for the rigorous CFE Exam.  
  • How much does the CFE Exam Prep Course cost?

    The full price of the CFE Exam Prep Course is $1062. Members receive a discounted price of $849.60. ACFE members have the option to participate in a Member's Only Installment Plan with three monthly payments of $294 each (Payment by credit card only. Payment includes administration fee. Tax is not included and will be added to your first payment, if applicable).

    For more information, call Member Services at (800) 245-3321 or (512) 478-9000. You are not eligible to become certified until your balance is paid in full. Please allow an additional 3-5 days for processing of your first payment. The download or online version of the CFE Exam Prep Course will be available as soon as your first payment is processed.  

    Find additional information regarding the CFE Exam Prep Course.

  • Can I purchase a printed version of the CFE Exam Prep Course?
    No. The CFE Exam Prep Course is only offered in electronic download or online format.
  • Do I have to buy the Prep Course and the Prep Toolkit?
    No. The CFE Exam Prep Toolkit includes the CFE Exam Prep Course, as well as the printed Fraud Examiners Manual, CFE Exam Study Guide and the CFE Exam Prep Flashcards. 
  • Do I need to take the CFE Exam Prep Course?
    The CFE Exam Prep Course is recommended to all exam applicants as the most comprehensive way to review for the exam. However, the course is not required.
  • How does the CFE Exam Prep Course work?
    The CFE Exam Prep Course focuses on the four testing areas covered in the CFE Exam: Financial Transactions and Fraud Schemes, Investigation, Law and Fraud Prevention and Deterrence. The Prep Course includes nearly 1,500 study questions. After answering a question, you will be given the correct answer, receive a brief explanation about the answer and a reference for additional study if needed. The course also includes practice exams that simulate the CFE Exam environment. After completing the study questions and scoring 85% or higher on each of the practice exams, you should be ready to pass the CFE Exam.
  • Can I use the CFE Exam Prep Course on more than one computer?

    If you choose the online version of the CFE Exam Prep Course you may use it on multiple computers. The program software will save your progress.

    If you choose the electronic download, you may install the CFE Exam Prep Course on no more than two computers. Your "Current Status" will reflect all work done on multiple computers if you follow these directions:

    • Choose Export Progress File from the side menu.
    • Save a copy to your hard drive. Email a copy to yourself or save a copy to flash drive.
    • Install the Prep Course on the second computer using your license key.
    • On the second computer choose "Import Progress File."
    • Choose the saved file from the flash drive or your email.
    • Repeat this process every time you switch computers.

    Please note, the CFE Exam Prep Course is only licensed to one user and may not be shared.

  • Can I share or sell my CFE Exam Prep Course?
    No. The CFE Exam Prep Course is licensed to only one user. It may not be shared with anyone. Other terms and conditions apply as outlined in the End User License Agreement (EULA).
  • What is included in the CFE Exam Prep Toolkit?
    The toolkit includes the CFE Exam Prep Course, the Fraud Examiners Manual (printed), the CFE Exam Study Guide and CFE Exam Prep Flashcard App.
  • I purchased the CFE Exam Prep Toolkit. What is the recommended way to study using the different learning tools included?
    The CFE Exam Prep Toolkit includes the following: one CFE Exam Prep Course, the Fraud Examiners Manual (printed version), CFE Exam Study Guide and CFE Exam Prep Flashcards.

    The CFE Exam Prep Course is a computer self-study course that prepares you for the CFE Exam while letting you study at your own pace. The course is divided into the four sections of the exam: Financial Transactions and Fraud Schemes, Law, Investigation and Fraud Prevention and Deterrence. To successfully prepare with this course, we suggest you begin by taking the Pre-Assessment to test your knowledge in the four fields. After successfully completing the Pre-Assessment, begin the Review Sessions with what the Pre-Assessment determined was your strongest subject.  

    The Fraud Examiners Manual is a 2,000-page guide that is divided into the four sections of the CFE Exam: Financial Transactions and Fraud Schemes, Law, Investigation and Fraud Prevention and Deterrence. It is included in this toolkit electronically and in a printed version. This manual will help you answer the review session questions and the four practice exams within the CFE Exam Prep Course.

    The CFE Exam Prep Flashcards are designed to be used in tandem with the CFE Exam Prep Course. This set of 900 cards will help you become familiar with the terminology and concepts covered on the CFE Exam.

    The CFE Exam Study Guide is a printed study guide and offers a breakdown of the key points and foundational concepts found in the four main sections of the exam.
  • If I have been studying an old version of the CFE Exam Prep Course and just recently registered to take the exam, will the test correspond with my study materials?
    Not necessarily. Exam editions and versions are administered for two years from the initial release, not your purchase date. The version of the CFE Exam you will receive is based on your ACFE purchase history. If your study materials or exam are expired, you will be provided the most current version of the CFE Exam. Please contact an ACFE Member Services Representative at MemberServices@ACFE.com for details.
  • Do I receive continuing education credit for completing the Prep Course or CFE Exam?
    After successful completion of the CFE Exam Prep Course, you are eligible to receive a certificate for 35 CPE credits. Successful completion of the CFE Exam Prep Course means that you have answered all review questions correctly and you have scored an 85% or higher on each of the four practice exams. There is no CPE credit offered for passing the CFE Exam.
  • Once I have completed my CFE Exam Prep Course, what do I do next?
    Make sure that you have submitted your exam application including your three professional recommendations, proof of education and experience and are an associate member of the ACFE.

CFE Exam Application Process

The CFE Exam

  • Once I have completed my preparations for the CFE Exam, what do I do next?

    Make sure that you have submitted your CFE Exam application, details of your fraud-related work experience, three professional recommendations, proof of education and are an associate member of the ACFE.

    When your exam application has been approved, you can schedule your exam appointments. For additional details on the CFE Exam, visit the CFE Exam FAQ page.

  • Approximately how long should the CFE Exam take to complete?
    The CFE Exam consists of four sections: Financial Transactions and Fraud Schemes, Law, Investigation and Fraud Prevention and Deterrence. You will have two hours to complete each section of the CFE Exam. Although the total exam time is approximately eight hours, you are not required to complete all four sections in one sitting. You may take each section of the exam at you own convenience, as long as all sections are completed within 60 days.
  • Am I exempt from certain sections of the CFE Exam based on my experience?
    No. Each CFE candidate must take and pass all four sections of the CFE Exam.
  • How will I know if I pass or fail the exam?
    After your complete a section, you will receive an email from Prometric with your score report. To pass, you must accurately answer at least 75% of the questions in each section of the CFE Exam. You must pass each section of the exam within three attempts.
  • If I have to retake an exam section, what is the cost?
    If you do not pass a section of the exam, you may retake that section. CFE Exam retake fees are $100 per failed section. You will receive instructions on how to pay exam retake fees with your exam results email. Within 3-5 business days of paying for retake fee(s), your exam access will be sent to you by email.
  • When will I receive my CFE certificate once I have passed the CFE Exam?
    When you have passed all four sections of the CFE Exam, your CFE exam application, supporting documentation, exam results and proctoring sessions will be submitted to the Certification Committee for final review. You will receive notification of your certification status within three weeks of passing the CFE Exam. Upon certification, your CFE certificate will be mailed to you within 6-8 weeks.