Free ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam Practice Questions & Explanations

Last updated on: Sep 30, 2026
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Question 1

According to SAB 104, for the revenue to be typically considered realized or realizable and earned, which of the following criteria is NOT met:

Answer Options
Correct Answer: C
Question 2

The price of an asset on which the asset is selling at on the open market in a transaction between a willing buyer and a wiling seller is called:

Answer Options
Correct Answer: B
Question 3

In which of the following process, all bidders are legally supposed to be placed on the same plane of equality, bidding on the same terms and conditions?

Answer Options
Correct Answer: C
Question 4

Another way to eliminate competition in the solicitation phase of the selection process is to:

Answer Options
Correct Answer: A
Question 5

In which approach, fraudsters produce whatever financial statements they wish, perhaps using just a typewriter or a personal computer.

Answer Options
Correct Answer: D