Passing the CFEX (Certified Fraud Examiner) exam requires a comprehensive understanding of fraud prevention, detection, and deterrence. This certification is globally recognized, and it’s designed to help professionals develop a deeper understanding of financial crimes, forensic accounting, and fraud investigation.
The CFEX exam is designed to test a candidate’s knowledge in the following areas:
- Fraud Prevention and Deterrence
- Financial Transactions and Fraud Schemes
- Investigation Process
- Laws and Regulations
- Forensic Accounting and Information Technology
The CFEX certification is ideal for anyone who wants to build a career in fraud prevention, detection, and investigation. This certification is particularly suitable for professionals in the accounting, law enforcement, and finance sectors.
Prerequisites and Qualifications:
To take the CFEX exam, a candidate must have a bachelor’s degree from an accredited institution and two years of professional experience in a related field. Alternatively, a candidate can substitute a master’s degree for one year of professional experience.
The CFEX exam is a computer-based test that is delivered through Pearson VUE testing centers worldwide. The exam is 500 multiple-choice questions, and a candidate has 8 hours to complete the test. The cost of the exam varies depending on the candidate’s location, but it is typically around $800.
A candidate must score at least 75% to pass the CFEX exam. The results are typically available immediately after completing the test.
Here are some books that can help a candidate prepare for the CFEX exam:
- Fraud Examination by W. Steve Albrecht, Chad O. Albrecht, and Conan C. Albrecht
- Forensic Accounting and Fraud Examination by Mary-Jo Kranacher, Richard Riley, and Joseph T. Wells
- Fraud Analysis Techniques Using ACL by David Coderre
- Principles of Fraud Examination by Joseph T. Wells
- Financial Statement Fraud: Prevention and Detection by Zabihollah Rezaee
Passing the CFEX exam is a significant achievement, and it can help a candidate advance their career in fraud prevention and investigation. It’s essential to thoroughly understand the exam objectives and prepare using relevant study materials to increase the chances of passing the exam.