November 2022

TIP #1 - Familiarize yourself with the CFE Exam Prep Course. Develop a comfort level with the Prep Course by exploring the different tools and features available. You can use the software to set target dates and measure your progress toward earning your credential. 

TIP#2 - Don’t overthink. When you’re facing multiple-choice questions, resist the tendency to read too much into the questions and answer choices. Read the question once and then think of a good answer without looking at the answer choices. If your answer matches one that’s listed, then select it and move on!

TIP #3 - Recognize alternative approaches to answering different types of questions.

John D. Gill, J.D., CFE, Chief Training Officer, offers advice on how to best answer true/false and multiple-choice questions in the Prep Course.

TIP #4 - Study intensively to strengthen weaknesses. Your memory usually helps recall your strengths, but weaknesses are obviously more challenging. While studying, identify your weak points and focus on expanding your knowledge base in these areas. By doing so, you will have a much better chance of passing the CFE Exam.

October 2022

TIP #1 - Thoroughly understand each section of the CFE Exam. The CFE Exam includes four sections: Financial Transactions and Fraud Schemes, Law, Investigation, and Fraud Prevention and Deterrence. Focus your time studying for each section and give yourself ample time to do so.

TIP #2 - Study each major topic within a section separately. This will allow you to focus on a topic for a particular period of time, which will improve retention. Studying many topics at once is not beneficial.

TIP #3 - Use the Fraud Examiners Manual as needed. Included with the CFE Exam Prep Course, the Fraud Examiners Manual gives you a more detailed explanation of the answer to each study question. It is an excellent resource for both your profession and helping you pass the CFE Exam.

TIP #4 - Stay on track. Study every day or as frequently as your schedule allows. You should study each section of the Prep Course with a time budget in mind. As you reach milestones on your timeline, you will see yourself moving one step closer to realizing the overall goal—succeeding on the CFE Exam.

September 2022

TIP #1 - Study well in advance of taking the CFE Exam. Study every day or as frequently as your schedule allows. You should study each section of the CFE Exam Prep Course with a time budget in mind using these tips:

• Start studying soon after you purchase the course.

• Develop and follow a study plan, perhaps starting with the section with which you are most familiar.

• At the beginning of each study period, do a ten-minute review of the previous period's study material.

TIP #2 - Select a good study place. You need a proper location in which to study. It is important to have uninterrupted study time. Once you begin, focus only on one section of the Prep Course and don’t study too much at once.

TIP #3 - Choose the best answer. Evaluate each answer in a multiple-choice question and eliminate options that you know are incorrect. It may be helpful to treat each answer option as true or false; then you can select the answer that is the best choice. Make sure that you read all the options and don’t stop when you come upon a choice that only seems to be correct.

TIP #4 - Maintain a positive attitude. Commit yourself to meeting the goal of passing the CFE Exam. Stay with it!

August 2022

TIP #1 - Develop a comfort level. We recommend that you begin studying with your strongest area to get comfortable with the material and the CFE Exam Prep Course. Begin the Prep Course by answering a few questions in the Review Sessions tab to get a feel for the course. Taking the Pre-Assessment is also beneficial to see where you stand with the material. The course will automatically track your selections and help you determine your strong and weak subject areas. Remember to always study at your own pace.

TIP #2 - Don’t overthink. The most common mistake people make when taking the Prep Course is to overthink the questions. Although the questions can be challenging, they weren’t written to be deliberately tricky. If you find yourself agonizing over the answer choices on a question, you are spending too much time on it. Look for the main idea and ask yourself, “What concept is being tested here?” I can assure you that each question was written to test a specific fact or concept. 

TIP #3 - Mark questions. If you are having difficulty with a question in the Prep Course, mark the question for review. This will allow you to go back and review any marked questions in that section.

ACFE President and CEO Bruce Dorris, J.D., CFE, CPA, offers advice on how to handle questions in the Prep Course that might be challenging to you.

TIP #4 - Don’t get overwhelmed. Don't let difficult questions raise your anxiety or take away from your valuable study time. Move on and find success with other questions.

July 2022

TIP #1 - Watch for clues in true/false questions. Approach each true/false question, which is really a statement, as if it were true, and then determine if any part of the statement is false. One falsity makes the entire statement false. Negatives, such as no, not, and cannot, can be confusing in a true/false statement. If there is a negative, drop the negative word and read what remains. Then determine whether the statement without the negative is true or false—if it is true, then the correct answer would be false; if it is false, then the correct answer would be true.

TIP #2 - Narrow down the answer choices. It is important that you read all the answer choices and that you not stop when you come to a choice that seems correct. Eliminate some choices you know are wrong, and then relate each remaining one to the question. Compare and contrast your remaining answer choice options and make a final selection with confidence.

TIP #3 - Refer to the Fraud Examiners Manual as needed. If more detailed explanation is needed, use the Fraud Examiners Manual. The Fraud Examiners Manual gives a detailed explanation of the answer to each study question, which is also included in the CFE Exam Prep Course.

TIP #4 - Maintain a positive attitude. Commit to meeting your goal of passing the CFE Exam. Stick with it!

June 2022

TIP #1 - Be smart with studying. You need the appropriate place to have uninterrupted study time. When you begin, focus only on one section in the CFE Exam Prep Course and don’t study too much at once. Begin with your strongest area first to develop a comfort level.

TIP #2 - Learn from wrong answers. If you choose an incorrect answer in a Prep Course question and click the Submit Answer button, the answer you chose, along with the correct one, will be displayed on the next screen. If you selected the correct response, it will be highlighted in green. If you selected the incorrect response, it will be highlighted in red. A detailed explanation of the answer will be displayed below the answer options. If you need more information, the corresponding page numbers to the material in the Fraud Examiners Manual are below the explanation, so use all of your resources to better understand the material. It’s okay to be incorrect, but learning from your mistakes is important.

TIP #3 - Set deadlines and give yourself time. We recommend you answer all the questions in the Prep Course correctly at least once. If you answer a question incorrectly, then it will return to the question pool so that you can try again later. Make sure you give yourself time and set deadlines so that you can get through all the material and make this happen.

TIP #4 - Tell yourself that you can do it! Self-motivation is important. Reward yourself with positive thoughts when you complete a section. Think about your values and goals, ensure that you are reaching them, and determine your best learning process for the remaining sections. Believe that you can succeed, and you will.

May 2022

TIP #1 - Limit your study time. An ideal length of study time is 40–50 minutes with a break of 5–10 minutes between study sessions. This study range gives you enough time to identify and understand key concepts in each section of the material. A break allows you the time to regroup and prevent burnout. Use the short breaks to grab a snack, use the restroom, or engage in a stretching exercise. Once the break is over, however, get back to studying. Be disciplined with your schedule.     

TIP #2 - Stick to your study plan. A study plan helps you be more efficient and productive, and it works best when followed consistently. But if you find that your plan is not working, don’t get discouraged and make the necessary adjustments to ensure your success. Once you decide on a plan that works for you, it is very important to maintain it.

TIP #3 - Understand the question. If a multiple-choice question in the CFE Exam Prep Course seems to have more than one possible correct answer, carefully evaluate each option and eliminate them to gradually arrive at the correct answer. If you rule out one or two options as incorrect, then you increase your chances of answering the question correctly. When all else fails, guess! Do not leave any questions unanswered.

TIP #4 - Stay on track. Study every day or as frequently as your schedule allows. You should study each section of the Prep Course with a time budget in mind. As you reach milestones on your timeline, you will see yourself moving closer to realizing the overall goal of succeeding on the CFE Exam.

March - April 2022

TIP #1 - Create study strategies. Below are a few strategies you may find helpful.

• Study in blocks of time. An effective method is to study for 30–50 minutes at a time, followed by a 5–10 minute break.

• Figure out your most productive times of the day. For example, if you study best in the morning, then plan to study your most challenging subjects then. Avoid studying at times when you have trouble concentrating.

• Rank all four sections by difficulty level. Be sure to spend time on your most challenging section every day.

TIP#2 - Test yourself. Find out how much you know and in what areas you need to improve. After you have answered all questions in the Review Sessions in the CFE Exam Prep Course, take the Practice Exams. This way, you can test your knowledge in each of the four sections and simulate the experience of taking the CFE Exam. Each Practice Exam contains 100 questions from each section.

TIP #3 - Note the questions you find challenging. Make notes about challenging questions and review them. If you’re using the Prep Course to study, then mark challenging questions for review during Review Sessions. Marking questions for review will flag the questions so that you know to go back to them before you end a session.

TIP #4 - Be confident! Your confidence will positively affect your CFE Exam performance. When you begin to achieve passing results in the Prep Course, then you are on your way to taking and passing the CFE Exam!

February 2022

TIP #1 - Understand how to answer each question. If there are four possible answer options and you rule out one or two as wrong, your chances of answering the question correctly increases. However, make sure you select one of your final two options. Do not leave any questions unanswered.

TIP #2 - Determine your study goals. Before starting the CFE Exam Prep Course, it is important to set a target date for earning the CFE credential. Study every day or as frequently as your schedule allows. You should study each section of the Prep Course with a time budget in mind and incorporate the following suggestions.

• Start studying soon after you purchase the Prep Course.

• Develop and follow a plan for getting yourself through the material, starting (if possible) with the section you are most familiar with.

• At the beginning of each study session, do a ten-minute review of the material covered in the previous session.

TIP #3 - Read each question carefully. Keep in mind that any tiny detail or word can affect the answer of the question. If one word or phrase in the statement is false, then the entire statement is false.

John D. Gill, J.D., CFE, and Vice President of Education, offers advice on how to best answer true/false and multiple-choice questions in the Prep Course.

TIP #4 - Study intensively. If you only casually study, then you won’t be able to recall the information very well. If you find that you are struggling with the material, do not ignore it. Use all of your resources, including the Fraud Examiners Manual, to help you with your studies. It is important to understand your weaknesses and turn them into strengths. Correct your weaknesses to improve your knowledge base and your chances of passing.

January 2022

TIP #1 - Reading the detailed explanation is important. After you answer a question on the CFE Exam Prep Course, read the detailed explanation thoroughly. Do not reread when you are confused about a word or sentence. The next sentence will often clarify the meaning. If you are still confused at the end of a section or paragraph, stop at that point and go to the reference page of the Fraud Examiners Manual.

TIP #2 - Take your time to understand. Read slowly enough that you understand the meaning of everything to the best of your ability. You will not automatically know everything, and that’s okay. The CFE Exam Prep Course allows you to learn the knowledge required to pass the exam while practicing in a true-life setting. The program will randomly display questions in each of the four sections. Make sure that you understand the material well, don't just skim through it.

TIP #3 - Break down complex sentences. The CFE Exam Prep Course consists of true/false and multiple choice questions. These questions mirror the format of the actual exam. When answering a Prep Course and CFE Exam true/false question simply break down complex sentences into smaller phrases. Each phrase has to be true or the entire sentence is false. Research has shown that statements containing the words all, only, always, and because are generally false. Statements containing the words none, generally, and usually are generally true. For multiple choice questions try to answer the question before looking at the answer choices. Remember that a perfect answer may not be a choice. Choose the best answer.

Study Intensively and Wisely. Study every day or as frequently as your schedule allows. You should study each section of the CFE Exam Prep Course with a time budget in mind, and remember that while speed is important accuracy is even more so. You will see yourself moving one step closer to realizing the overall goal; succeeding on the CFE Exam.

December 2021

TIP #1 - Grasp the stories in the questions. The three elements to look for in the story are the character, plot, and scheme. As you answer questions in the CFE Exam Prep Course look for those three elements.

For example: Suzanne runs her own business, but she has decided to close it and file for bankruptcy. Before she does so, she orders a large quantity of inventory on credit and resells it for cash. She closes the business and leaves the suppliers with almost nothing to recover in the bankruptcy proceeding that follows. What best describes Suzanne’s scheme?

Suzanne is the character, the plot is to retrieve as much cash as possible, and her scheme is to bust out. This best describes the Bustout scheme. By understanding the story that a question is telling, you will be able to comprehend and answer questions more easily.

TIP #2 - Establish a study routine. Make studying a part of your daily routine; whether it’s done in the morning, afternoon, or evening, implement it so that it becomes an effortless part of your day.

TIP #3 - Be confident! Your confidence will positively affect your exam performance. Once you are obtaining passing results in your studies, picture yourself passing the Exam and becoming a CFE!

November 2021

TIP #1 - Start small and work your way up. You must prepare for your studies with the right approach. Begin studying your strongest area first, in small study sessions. This approach will help you develop a level of comfort with the material. When you begin studying with the CFE Exam Prep Course, select one of the four main sections and start answering the questions. As you continue studying, increase the time of your study sessions and become more comfortable .

TIP #2 - Discover your weak areas. The Prep Course ‘s Pre-Assessment could be used as a tool to discover your weak areas. It is designed to identify your topical strengths and weaknesses, which will allow you to structure your work with the Prep Course effectively and efficiently. The Pre-Assessment is optional and can only be taken once.

TIP #3 - Take organized study notes. Take organized notes to accompany any questions you mark for review in the Prep Course. Doing so will allow you to go back and review any challenging questions or material at any time. When you review your marked questions, please note that the Prep Course will only present questions you have previously marked for review in the bottom-right corner of each question.

TIP #4 - Stay on track. Study every day or as frequently as your schedule allows. You should study each section of the Prep Course with a time budget in mind. As you reach milestones on your timeline, you will see yourself moving one step closer to realizing the overall goal—succeeding on the CFE Exam.

October 2021

TIP #1 - Read the detailed explanation carefully. After you answer a question on the CFE Exam Prep Course, read the detailed explanation thoroughly. Do not reread when you are confused about a word or sentence; read on. The next sentence will often clarify the meaning. If you are still confused at the end of a section or paragraph, look up the content the Fraud Examiners Manual for more reference.

TIP #2 - Study intensively. Read slowly enough that you understand the meaning of everything to the best of your ability. You will not automatically know everything, and that’s okay. The Prep Course allows you to learn the content required to pass the exam while practicing in a simulated testing environment. The program will generate questions randomly on all four sections. Make sure that you understand the material well; don't just read through the material.

TIP #3 - Break down complex sentences. The Prep Course consists of true/false and multiple-choice questions. These questions mirror the format of the actual CFE Exam. When answering a true/false question on the Prep Course, simply break down complex sentences into smaller phrases. Each phrase has to be true or the entire sentence is false. Research has shown that statements containing the words all, only, always and because are generally false. Statements containing the words none, generally, and usually are generally true. And, for multiple-choice questions try to answer the question before looking at the answer choices. Remember that a perfect answer might not be given as a choice. Choose the best answer.

TIP #4 Encouragement. Study every day or as frequently as your schedule allows. Accuracy is just as important, if not more so, as speed. You should study each section of the Prep Course with a time budget in mind. Then, as you accomplish these tasks, you will see yourself moving one step closer to realizing the overall goal, succeeding on the CFE Exam.

September 2021

TIP #1 - Study more effectively. When preparing with the CFE Exam Prep Course, you must maximize your energy level. Study your most challenging sections of the Prep Course when you have more energy, which is usually in the early evening. Later in the evening, work on the sections you are most knowledgeable in or the one you enjoy the most. Some applicants put off the tough sections later in the evening, when they are tired, and it is more difficult to concentrate. Reverse that. This alone can help improve your concentration.

TIP #2 - Avoid procrastination. We recommend you start studying soon after you have purchased the Prep Course. Create a schedule for yourself to ensure that you dedicate at least an hour or two a day to studying. Using the Prep Weekly Study Plan (PDF) can assist you in organizing and prioritizing your preparation for the CFE Exam.

TIP #3 - Break down complex sentences. The CFE Exam Prep Course consists of true/false and multiple choice questions. These questions mirror the format of the actual exam. When answering a true and false question on the Prep Course and CFE Exam simply break down complex sentences into smaller phrases. Each phrase has to be true or the entire sentence is false. Research has shown that statements containing the words all, only, always and because are generally false. Statements containing the words none, generally, and usually are generally true. And, for multiple choice questions try to answer the question before looking at the answer choices. Remember that a perfect answer may not be given as a choice. Choose the best answer.

TIP #4 - Be positive. Your attitude has a big impact on the amount of studying that you complete and the effectiveness of your learning process. If you keep saying that you can’t do it and won’t commit to the idea of learning, then studying will become more difficult. Instead, focus on positive outcomes and on how you can use your own individual strengths to achieve them.

August 2021

TIP #1 - Prepare for your studies with the right approach. When you begin studying with the CFE Exam Prep Course, select one of the four main sections and start answering the questions, preferably your strongest section first. When you are first starting out, keep your study session short. This approach will help you develop a level of comfort with the material. As you continue studying, increase the time of your study sessions as you become more comfortable and familiar with the material.

TIP #2 - Narrow down options. While answering questions in the Prep Course it is important that you read all of the options and not stop when you come upon the first answer that seems likely. Eliminate some choices you know are incorrect, and then relate each remaining answer choice back to the question to see if it fits. Narrow down the choices to one or two alternatives, and then compare them and identify how they are different. Finally, make an informed choice. 

TIP #3 - Recognize alternative ways to answer questions. - Read each question carefully. Keep in mind that any tiny detail or word can affect the answer of the question. If one word or phrase in the statement is false, then the entire statement is false.

TIP #4 - Be confident! Your confidence will positively affect your performance on the CFE Exam. Once you are obtaining passing results in your studies, picture yourself passing the CFE Exam and becoming a CFE!

July 2021

TIP #1 - Change up your focus. Train your brain to focus on any existing knowledge you have that will help you as you read. Switching between subjects is a helpful way to learn the materials for your exams and prevent burnout on one topic, so make sure to switch it up before your eyes glaze over! That way, you can keep studying for longer periods of time while maintaining your focus.

TIP #2 - Learn how to identify your challenging areas. Studying with the CFE Exam Prep Course, checking your progress after each study session allows you to identify topics to review in more detail. If you have completed studying for the day, simply end that session of the Prep Course software. The session summary screen will automatically appear (if you have answered at least one question), showing your results of the previous session. The screen will display the number of questions you answered incorrectly and the number of questions you answered correctly answers outweighs the number of questions you answered correctly, then you likely need to dedicate more time studying that topic.

TIP #3 -Be sure that you understand the material. Slowly read through each question so that you understand the meaning of the statement to the best of your ability. If any part of the question is false, then the entire statement is false. However, if part of a statement is true, the entire statement is not necessarily true. Eliminate some choices you know are incorrect, and then relate each remaining answer choice back to the question to see if it fits. Narrow down the choice to one or two alternatives, and then compare them and identify how they are different. Finally, make an informed choice.

TIP 4# - Tell yourself that you can do it! Self-motivation is important. Reward yourself with positive thoughts when you complete a section. Think about your values and goals and decide if you are reaching them. Decide on your best learning process for the remaining sections. Believe that you can succeed, and you will.

June 2021

TIP #1 - Answer each question to the best of your knowledge. If you are not sure of the correct answer, you should guess. If there are four answer options, you have a one-in-four chance of getting that question right. If you have ruled out one or two options as wrong, your chances are even higher. But if you do not guess, you have no chance at all. If you guess five times, you might get one or two more right.

TIP #2 - Budget your time wisely. The Prep Course Study Chart is one resource for organizing, prioritizing, and succeeding in your preparation for the CFE Exam. Lack of flexibility is the major reason why schedules fail. So be sure to schedule in some extra time for unforeseen events. Below are some helpful tips on how to plan your study sessions.

• Decide what days will be your designated study days. Those days should not change.

• Develop and follow a plan for getting yourself through the volume of material (Prep Course questions), starting with the section you are most familiar with.

• Strive to answer a certain number of questions correctly during each study session. Focus on the quality of your studying rather than the length of time it takes you.

TIP #3 - Take notes for your challenging questions. This allows you to go back and review those questions at any time. When you are ready to review your marked questions, please note that the program will only present those questions you have previously marked within the selected main section.

TIP #4 - Motivation. Make sure that you prepare well in advance before taking the CFE Exam so that you can focus all your energy on doing well. Follow up on the priorities you have set for yourself, and don't let others, or other interests, distract you from achieving your goal of becoming a CFE.

May 2021

TIP #1 - Focus on the question at hand. When studying with the Prep Course, understand what you’re being asked before you select an answer. Evaluate each answer choice in a multiple-choice question and eliminate options you know to be incorrect. Treat each option as a true-false question, and choose the option that is most true or false to you, depending on the question being asked.

TIP #2 - Read the explanation thoroughly. Do not reread when you are confused about a word or sentence; read on because the next sentence will often clarify the meaning. If you are still confused at the end of a section or paragraph, then stop at that point to reread the reference materials indicated.

TIP #3 - Understand each of the concepts. If it’s multiple choice, you’ll need to know definitions and concepts. Focus on understanding all of the concepts presented to you.

TIP #4 - Be confident! Your confidence will positively affect your performance. Once you have obtained passing results in the Prep Course, take the exam and picture yourself passing it and becoming a CFE!

April 2021

TIP #1 - Select a good study place. You need a good place to study in as it is important. It is important to have uninterrupted study time. Once you have chosen a place to study in, focus on one section of the CFE Exam Prep Course and try not to do too much studying at once. Begin by studying your strongest first to develop a level of comfort with the material.

TIP #2 - A detailed explanation is provided for each answer. After you select an answer in a Prep Course question, your answer will be marked as correct or incorrect. If your answer is incorrect and you need more information, detailed explanation of the answer is displayed below the question. The page number to where the material can be found in the Fraud Examiners Manual will be provided too.

TIP #3 - Set a timeline to meet your milestones. Studying well in advance pays off in the end. The Prep Course includes a timeline to remind you of your goal for completing the CFE Exam. The following video shows you how to set your timeline.

TIP #4 - Stay focused. This is the key to a good understanding of the CFE Exam material. If you are studying at home, choose an area that will serve as your study headquarters. Make sure you have good lighting, minimal distractions, and enough room to be comfortable. Disconnect your home phone, turn off your cell phone, and do whatever you can to stay focused on your studies.

March 2021

TIP #1 - Choose a study plan. The key to passing the CFE Exam is effective management of the study materials. Before starting the CFE Exam Prep Course, it is important to set a target date. Based on the suggested study plans listed below, set a manageable goal for completing the Prep Course and CFE Exam. Select your preferred timetable to help determine which formula best suits your needs.

TIP #2 - Read the explanations thoroughly. Read the explanation thoroughly. When using the Prep Course, if you are confused about a word or sentence, then keep reading. Often, the next part of the explanation will clear things up. If you are still confused at the end of a section or paragraph, stop at that point to reread the question because you might have simply misread it.

TIP #3 - Refer to the Fraud Examiners Manual. If more detailed explanation is needed, take advantage of the Fraud Examiners Manual, which is included with your CFE Exam Prep Course.

In this video, ACFE Vice President - Education, John D. Gill, J.D., CFE, offers advice on how to take advantage of the Fraud Examiners Manual, which is included with your CFE Exam Prep Course.

TIP #4 - Be Positive. Your attitude has a big impact on the level of study that you get done and the effectiveness of your learning process. If you keep saying that you can’t do it and won’t commit to the idea of learning, attempting to study is only likely to become more difficult. Instead, focus your mind on positive outcomes and on how you can use your own individual strengths to achieve them.