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CFE-Investigation Certified Fraud Examiner – Investigation

  • ACFE
  • 4 free sample questions

About this exam

CFE-Investigation is the ACFE exam Certified Fraud Examiner – Investigation. Paid practice material for this exam is not available yet, but you can try its free sample questions.

Exam code
CFE-Investigation
Vendor
ACFE
Practice questions
Not available yet
Free sample questions
4
Question bank last updated
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Try 2 sample questions

Taken from the free sample set for CFE-Investigation.

Question 1

Marcus is trying to locale me financial statements of Acme Airlines a multinational publicly traded corporation. Which of the following sources would be most effective tor finding this Information?

  1. Option A:
    Regulatory securities records
  2. Option B:
    Organizational filings
  3. Option C:
    Commercial filings
  4. Option D:
    Civil litigation records 
Show answer and explanation

Correct answer: C

The correct answer is:
✅ A. Regulatory securities records (not C)
Explanation
Marcus wants to find the financial statements of a multinational publicly traded company.
Publicly traded companies are legally required to file their financial statements with government securities regulators, making regulatory securities records the most reliable and complete source.
Examples include:
In the United States: filings with the U.S. Securities and Exchange Commission (SEC) through EDGAR (10-K, 10-Q, 8-K).
In other countries: equivalent national securities regulators.
Option Analysis
A. Regulatory securities records ✅ Correct
Contains audited annual reports and quarterly financial statements.
Mandatory filings for publicly traded companies.
Most authoritative source.
B. Organizational filings ❌
This is too broad and may refer to internal corporate documents or registration records.
Not the primary place to obtain public financial statements.
C. Commercial filings ❌
Commercial databases (e.g., Bloomberg, Dun & Bradstreet) may collect and redistribute financial information, but they are not the original or official source.
The term "commercial filings" itself is not a standard category for statutory financial statements.
D. Civil litigation records ❌
These contain court case information, lawsuits, and legal disputes.
They do not serve as the primary source of a company's financial statements.
Why your key says C
If your study material marks C as correct, it is likely:
a printing error,
a poorly worded question, or
using "commercial filings" in a non-standard way.
According to standard auditing, fraud examination, and corporate governance references, the best and official source for a public company's financial statements is regulatory securities records.
Correct answer: ✅ A. Regulatory securities records.

Question 2

Which of the following can constitute a bribe, even if the illicit payment is never actually made?

  1. Option A:
    Offering a payment
  2. Option B:
    Corruption in payment
  3. Option C:
    kickback payment
  4. Option D:
    Overbilling in payment
Show answer and explanation

Correct answer: A

Yes, A. Offering a payment is the correct answer.
Explanation
A bribe does not have to be paid to constitute bribery. In many anti-corruption laws, the offer, promise, or authorization of a bribe is itself an offense, even if:
The payment is never made.
The recipient rejects the offer.
No benefit is ultimately received.
Therefore, merely offering a bribe can constitute bribery.
Option Analysis
A. Offering a payment ✅ Correct
An offer or promise of something of value to improperly influence another person can itself constitute bribery.
The actual transfer of money is not required.
B. Corruption in payment ❌
This is not a standard legal or fraud examination term.
It is too vague to identify a specific bribery act.
C. Kickback payment ❌
A kickback is a type of bribe, but it generally involves an actual payment or return of money after a transaction.
The question asks what can constitute a bribe even if the payment is never made, so this is not the best answer.
D. Overbilling in payment ❌
Overbilling is a billing or procurement fraud, not necessarily bribery.
It may be used to conceal illicit payments, but overbilling itself is not automatically a bribe.
Exam Tip (ACFE/CFE)
Remember this principle:
A bribe may consist of offering, promising, giving, requesting, or accepting something of value to improperly influence a decision. The crime can be complete even if the payment is never actually made.
✅ Correct Answer: A. Offering a payment
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