February 2021

TIP #1 - Take the Practice Exams. The Practice Exams provide an opportunity for you to test your knowledge in key areas that will be covered in the CFE Exam. Additionally, the practice exams are designed to simulate the experience of taking the CFE Exam so that you can increase your level of comfort and confidence when answering questions.

TIP #2 - Understand the exam process. The CFE Exam is administered online via computer. The CFE Exam contains four sections and is a closed-book exam. The exam can be scheduled for a time that is convenient for you. It has a number of controls to ensure integrity, and each exam is generated from a master database. No two exams are exactly the same.

TIP #3 - Break down complex sentences. The CFE Exam Prep Course consists of true/false multiple-choice questions. When answering a true/false question on the Prep Course or 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. 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 - Stay motivated. Follow up on the priorities that you have set for yourself, and don't let other people, or other interests, distract you from achieving your goal of becoming a CFE.

January 2021

TIP #1 - Develop and follow a plan. Start planning well in advance. Do an initial overview of the material (a quick review of two to four hours). Doing this will motivate you, and it will introduce you to the structure of the course and the material being covered.

TIP #2 - Build your knowledge base. If you only casually look at your material, you will only casually remember it. Your memory will always help you draw upon your strengths. If you immerse yourself in your studies now, then you will better recall the material during the CFE Exam. Correct your weaknesses to improve your knowledge base and chances of passing.

TIP #3 - Identify keywords. Recognize keywords when answering True/False questions before you begin selecting your answer.

TIP #4 - Complete your task. Completed tasks keep interest and motivation at a higher level. Try to complete a task before you quit for the day.

December 2020

TIP #1 - Start small and work your way up. You must prepare for your studies with the right approach. Begin studying with 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, preferably your strongest section first. As you continue studying, increase the time of your study sessions as you become more comfortable.

TIP #2 - Avoid becoming unproductive. Overthinking might cause you to become unproductive with your studies. Set a time limit for making decisions. Mark a question if it’s giving you trouble, and then move to the next one. One question might help you remember the answer to another question. Don’t overthink it!

TIP #3 - Learn the style of the CFE Exam Prep Course. When you’re facing multiple-choice questions, resist the tendency to read too much into the questions and answers. Read the question once, then (without looking at your options) think of a good answer. See if the answer you came up with matches one that is listed. If it does, select it and move on! If it’s multiple choice, you’ll need to know definitions and concepts. Focus on understanding all the concepts presented to you.

TIP#4 - Maintain a positive attitude. If you are struggling with the material, take a break, but be sure to return to your studies. A positive attitude will give you energy to push through and continue your journey toward becoming a CFE.

November 2020

TIP #1 - Understand what you need to know. The CFE Exam will test your knowledge of the four major areas that comprise the fraud examination body of knowledge: “Financial Transactions and Fraud Schemes, Law, Investigation, and Fraud Prevention and Deterrence”

TIP #2 - Space out your study sessions. This will allow you to focus on a topic for a short period on different days, which has been shown to improve retention and recall more than massed practice.

TIP #3 - Practice. One of the most effective ways to prepare for the exam is to practice. The more you practice, the more information you will retain. It’s important to have a good understanding of the different concepts, as it assists in your ability to follow the materials. If you would like to research more details to an answer, feel free to research the information in the Fraud Examiners Manual, which is a great resource to use to better understand the concepts.

TIP #4 - Stay on track. 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. 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 2020

TIP #1 - Read the Prep Course questions out loud. Doing this might help you remember what you just studied. There is no need to try to remember the exact wording; it’s the context of the material that is useful for your studies. Also, saying the answers to your questions out loud may be equally helpful.

TIP #2 - Know when to study. Avoid studying when you're really tired. Adequate rest will allow you to retain information much better and study longer during your study sessions.

TIP #3 - Mark challenging questions. Prep Course features allow you to go back and review challenging questions at any time. Please note that the program will only present the questions you have previously marked for review.

TIP #4 - Maintain self-confidence. Thinking positively is important. Confidence is essential to your studies and your mindset. Reward yourself with positive thoughts when you complete a section. Stay focused on your values and goals and they will be reached.

September 2020

TIP #1 - Evaluate your study progress. When studying with the CFE Exam Prep Course, you may monitor your detailed progress report as often as you prefer. It allows you to identify topics that are more challenging. Once you have finished studying for the day, simply end your Review Session in the Prep Course software. The Review Session summary will automatically appear (if you have answered at least one question), which will provide your results for the current session. The screen will display the number of questions you answered correctly and incorrectly.

TIP #2 - Maintain a strict study schedule. Start your preparation as soon as you receive your study materials. Create a study schedule and timeline. Have a completion date in mind. Select days of the week where you can block off times for you to study. A schedule will help you stay on track and allow you study effectively as you prepare for the CFE Exam.

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.

TIP #4 - 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. If you believe you can succeed, you will.

August 2020

TIP #1 - Discover your weak areas. The 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 CFE Exam Prep Course effectively and efficiently. The Pre-Assessment is optional and can only be taken once.

TIP #2 - Budget in time to study. Studying well in advance will pay off in the end. Study every day or as frequently as your schedule allows. Study each section of the CFE Exam Prep Course with a time budget in mind. See the additional study tips below:

1. Decide which days will be your designated study days.
2. Develop and follow a plan for getting yourself through the volume of material in the Prep Course, starting with the section you are most familiar with.
3. 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 to get through the sessions.

TIP #3 - Organize your 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 program will only present questions you have previously marked for review in the bottom-right corner of each question.

TIP #4 - Maintain your confidence! 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 2020

TIP #1 - Join the CFE Exam Preparation Community. This community is for individuals studying for the CFE Exam or interested in becoming a CFE. Join today and engage with others as they share their experience on preparing for the CFE Exam by using the CFE Exam Prep Course . Also, you will find any important updates about the CFE Exam posted in this community.

TIP #2 - Be productive with your studies. Overthinking might cause you to become unproductive with your studies. Set a time limit for making decisions. Mark the questions, and than move to the next one. One question might help you remember the answer to another question. Don’t overthink it!

TIP #3 - Answer each question carefully. When you’re facing multiple-choice questions, resist the tendency to read too much into the questions and answers. Read the question once, and see if your answer matches one that is listed then (without looking at your options) think of a good answer. Then see if this matches one that’s listed. If it does, select it and move on!

TIP #4 - Be confident. When you've finished studying, you should feel like you can approach the CFE Exam with confidence—not necessarily that you will answer 100% of the answers but that you have a good understanding of the information.

June 2020

TIP #1 - App up your studies. The ACFE offers the CFE Exam Flashcard App as an additional study tool. The flashcard app allows you to familiarize yourself with the terminology and concepts covered in the CFE Exam. This app consists of hundreds of flashcards that complement the CFE Exam Prep Course. Android and iOS versions available.

TIP #2 - Create your own strategies. Start your preparation as soon as you receive your study materials. It is important that you allow yourself enough time to go through each section within a reasonable time frame. Don’t cram at the last minute and not fully understand the materials. Create a study schedule and a time line. Select days of the week where you can block off times to study. A schedule will help you stay on track and study effectively as you prepare for the CFE Exam.

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

TIP #4 - Be encouraged by your studies. When you've finished studying, you should feel like you can approach the CFE Exam with confidence—not necessarily that you will get 100% of the answers correct but that you have a good understanding of the information.

May 2020

TIP #1 - Know how to face challenging questions. Resist the tendency to read too much into the questions and answers. Read the question once, then (without looking at your options) think of a good answer. Then see if your answer matches an answer that’s listed. If it does, select it and move on!

TIP #2 - Answer all questions to the best of your knowledge. You should guess when you are not sure. If there are four possible answer options, you have a one-in-four chance of getting that question right. If you have ruled out one or two options as incorrect, then your chances of answering questions correctly 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 questions right.

TIP #3 - Qualify for the Money-Back Pass Guarantee. To qualify for the Money-Back Pass Guarantee, you are required to answer each question at least once. In addition, you must earn a score of 85% or better on all four sections of the Practice Exam.

TIP #4 - Motivation. 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.

April 2020

TIP #1 - Find a study buddy. Having a study buddy can help you stay focused on your timeline and goals. You can share notes with your buddy and help each other understand concepts. Feel free to reach out to the ACFE community for other possible CFE candidates that are looking to study with others.

TIP #2 - Set small goals. When you start a session, plan to answer at least twenty questions correctly before you take a five-minute break. Start small, then repeat that process a couple more times until you feel comfortable with the program. For your next study session, increase the amount of questions you answer correctly before taking a five-minute break. Continue to begin each study session by increasing the number of questions that you need to answer correctly.

TIP #3 - Approach each question with an open mind. Approach each statement as if it were true and then determine if any part of the statement is false. Just one false part in a statement will make the entire statement false. Negatives, such as no, not, and cannot, can be confusing within the context of a true-false sentence or statement. If a true-false sentence contains a negative, drop the negative word and read what remains. If the sentence (without the negative) is true, then the correct answer would be true.

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

March 2020

TIP #1 - What is my first step toward studying? Before starting the CFE Exam Prep Course, it is important to set a target date for earning the CFE credential. Although the breadth of information covered in the CFE Exam can be intimidating, you can be certified in as little as ninety days simply by studying during your lunch hour. Create a study plan that fits into your current daily routine, and push yourself to stick with it.

TIP #2 - Answer all questions in the exam. While answering questions in the Prep Course, you must select not only a correct answer but the best answer. Therefore, it is important that you read all of the options and avoid stopping when you come upon one that seems likely. If you are not certain of an answer, then you should guess, but do so methodically. Eliminate the choices you know are incorrect, and then narrow down the choice to one or two alternatives. Once you have done so, compare them and identify how they differ. Finally, make an informed choice.

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

February 2020

TIP #2 - Identify challenging areas. Your detailed progress report allows you to identify topics that are more challenging. Once you have finished studying for the day, simply end the session in the Prep Course software. The review session summary will automatically appear (if you have answered at least one question), which will provide your results for the current session. The screen will display the number of questions you attempted and the number of questions that you answered correctly.

TIP #1 - Read all options carefully. While answering questions in the CFE Exam Prep Course, it is important that you review all the available options and that you do not stop reading them once you come upon an option that seems likely. If you are uncertain of the answer, be sure to guess; however, 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 #3 - Take an alternative approach when reading questions. Carefully read every word of the question, keeping in mind that any tiny detail or word can affect the answer. If one word or phrase in the statement is false, then the entire statement is false.

TIP #4 - Stay focused. This is the key to a good understanding. 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.

January 2020

TIP #1 - Discover your learning style. We recommend that you start studying soon after you have purchased the CFE Exam Prep Course. Begin the Prep Course by answering a few questions from any section to get a feel for the course. You might have to rediscover your learning style. Since the course automatically tracks your correct and incorrect selections, as well as your strong and weak subject areas, you can study at your own pace to get back into the habit of studying.

TIP #2 -  Avoid distractions. If it has been a while since you've studied, you might find it difficult to concentrate at first. Try to avoid things that might cause a distraction, such as a cellular phone and being in an active environment. Also, take a break every thirty minutes throughout your study sessions. By doing this, you avoid burnout and refresh your mind so it can stay on track when you get back to studying.

TIP #3 - Create notes for challenging areas. This allows you to go back and review those challenging questions in the Prep Course 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 - Stay motivated. 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.

December 2019

TIP #1 - Switch it up. 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 - Prepare yourself. Start your preparation as soon as you receive your study materials. It is important that you allow yourself enough time to go through each section in a reasonable timeframe. Don’t cram at the last minute and not fully understand the materials. Create a study schedule and a timeline. Select days of the week where you can block off times for you to study. A schedule will help you stay on track and study effectively as you prepare for the CFE Exam.

TIP #3 - Be sure that you understand the materials. 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.

ACFE CEO and President Bruce Dorris, offers advice on how to take an active role in studying. The questions on the CFE Exam Prep Course mirror the format of the CFE Exam itself.

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

November 2019

TIP #1 - Taking the pre-assessment may be helpful. The pre-assessment test is optional, but it can only be taken once. It is designed to identify your topical strengths and weaknesses, which will allow you to structure your work with the CFE Exam Prep Course effectively and efficiently. If taken, it should be done before beginning any review sessions or practice exams.

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 - Know when you are ready to take the exam. To qualify for the Money-Back Pass Guarantee, you are required to answer each question at least once. In addition, you must earn a score of 85% or better on all four sections of the Practice Exams. If you find yourself meeting the requirements of the guarantee, then you are almost ready to begin the CFE Exam.

ACFE Vice President of Education John D. Gill, J.D., CFE, offers advice on how to qualify for the Money-Back Pass Guarantee as you prepare for the CFE Exam.

TIP #4 - Motivation is success. Success in learning is also determined by an evaluation of your process, and what you have learned from this process. Consider the CFE Exam Prep Course the beginning of your journey towards the CFE credential.

October 2019

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, you will be able to comprehend and answer questions more easily.

TIP #2 - Establish a study routine. Make your 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 - Set study goals. Studying well in advance pays off in the end. The Prep Course includes a timeline tracker to remind you of your goal for completing the CFE Exam. The following video shows you how to set your timeline.

TIP #4 - Get motivated and maintain a positive attitude. Commit yourself to meeting your goal of passing the CFE Exam.

September 2019

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 re-read 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, stop at that point and go to the reference page of the Fraud Examiners Manual.

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 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 serve up questions in each of the four sections. Make sure that you understand the material well, don't just read through the material, understand 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 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.

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 CFE Exam 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.

August 2019

TIP #1 - Change up your focus. 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 - Reach out to your CFE Exam Coach. Often times, reaching out to your coach, can be a way to receive additional suggestions on how to effectively prepare for the CFE Exam.

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 - 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.

July 2019

TIP #1 - Take advantage of features in the Prep Course. The Fraud Examiners Manual is a great feature to utilize if needed. The manual provides you with a more detailed explanation of the answer to each study question. You can easily access the manual while you are in a Review Session by clicking on “See pages” in the bottom left-hand corner of the explanation of a question.

TIP #2 - Read and answer each question carefully. While answering questions in the CFE Exam Prep Course, you must select not only a correct answer, but the best answer. It is therefore important that you read all of the options and not stop when you come upon one that seems likely. If you are not certain of an answer, then you should guess, but do so methodically. Eliminate the choices you know are incorrect, and then narrow down the choice to one or two alternatives. Once you have done so, compare them and identify how they differ. Finally, make an informed choice.

TIP #3 - Make note of troublesome questions. As you are working through sections, mark those questions you are having trouble with, and make a note of them. When you are studying, you can review those sections of the Fraud Examiners Manual for more information.

TIP #4 - Stay motivated. Follow up on the priorities you have set for yourself, and don't let other people, or other interests, distract you from achieving your goal of becoming a CFE.