Five (5)
Requirements to Become
a CFE

 How do I become a Certified Fraud Examiner?

​

1.   BE AN ASSOCIATE MEMBER OF THE ACFE

Your Associate Membership comes with a wide range of additional benefits — including the opportunity to earn the CFE credential, savings on exam prep materials, training and more. (Please note: You must first become an associate member of the ACFE to apply for the CFE Exam.)

 

Sign up here - https://www.acfe.com/membership/membership-application-online

​

2.   HAVE 50 POINTS IN THE ELIGIBILITY POINTS SYSTEM

Eligibility to earn the Certified Fraud Examiner (CFE) credential is based upon a point system, which awards credit for education and experience.
 
You must have a minimum of two years of fraud-related professional experience and 50 points. When calculating education points, they must be from a recognized institution of higher learning.
 
If your total qualifying points are 40 or above, you may apply for the CFE Exam. However, all applicants must have 50 or more points and two years of professional experience to earn the CFE after passing the exam.

You can earn points for education and fraud-related work experience.

Any points claimed for education must be from an accredited institution of higher learning. No specific field of study is required. If you do not have a degree but you do have some education from an institution of higher learning, you may claim credit for each full year that you completed.

Fraud-related work experience may also be used to earn points. There are more details in the next section about what types of work experience are accepted. Use our points calculator to determine if you meet the points requirement. Remember, you need 40 points to take the CFE Exam and 50 to become certified.

Calculate Your Points

* Concurrent experience in more than one area cannot be claimed

** At the time of certification, candidates must have at least two years of professional experience in a field either directly or indirectly related to the detection or deterrence of fraud. Candidates lacking two years professional fraud-related experience can take the exam as long as they have a minimum of 40 points, and can become officially certified once the professional experience requirement is met.

 

Calculate your points here - https://www.acfe.com/cfe-credential/eligibility/point-system-calculator

 

3.    HAVE A MINIMUM OF TWO YEARS OF FRAUD-RELATED WORK EXPERIENCE

You must have at least two years of professional experience in a field related to the detection or deterrence of fraud. The ACFE’s Board of Regents has established the following categories as acceptable fraud-related experience. Please note, if your work experience does not fall into one of the categories below but your job responsibilities include the detection, investigation or deterrence of fraud, your experience may still qualify. 

 

Fraud-Related Work Experience

​

• Accounting and Auditing

Your work experience may qualify if you have experience as an accountant or auditor (e.g., internal or external auditor) and have responsibilities related to the detection and deterrence of fraud. Eligible work experience includes evaluating accounting systems for weaknesses, designing internal controls, determining the degree of organizational fraud risk, interpreting financial data for unusual trends and following up on fraud indicators.

• Criminology and Sociology

If you have work experience in anti-fraud education or you research fraud and white-collar crime areas of sociology or criminology, you may claim experience under this category. A background in general sociological fields is insufficient.

• Fraud Investigation

If you have experience in the investigation of civil or criminal fraud, or of white-collar crime for law enforcement agencies or in the private sector, your experience qualifies. This includes federal, state or local law enforcement (e.g., IRS, inspectors general and district attorney investigators). Insurance fraud investigators and fraud examiners working for corporations, businesses or associations qualify as well.

• Loss Prevention

Security directors for corporations and associations who deal with loss prevention may claim this experience as credit. Security consultants dealing with fraud-related issues are also eligible. Experience as a security guard or equivalent is insufficient.

• Law

Your experience in the legal field might qualify, provided your work history deals with some consideration of fraud. Examples include prosecuting lawyers, fraud litigators and others with an anti-fraud specialization. 

 

​4.   PASS THE CFE EXAM

 

You must pass the CFE exam. The CFE Exam tests your knowledge of the four major areas that comprise the fraud examination body of knowledge:

1. Financial Transactions and Fraud Schemes,

2. Law,

3. Investigation, and

4. Fraud Prevention and Deterrence.

 

The CFE has a test-prep Course that has proven useful in passing the CFE exam. The Prep Course is a self-study computer program that will helps you prepare for the exam. The Prep Course features a pre-assessment, practice exams, questions with immediate feedback and direct links to source material contained in the included digital format of the Fraud Examiners Manual. Link for test prep:

https://www.acfe.com/CFE-Exam-Prep-Course-List.aspx

​

​5.   AGREE TO ABIDE BY THE ACFE CODE OF PROFESSIONAL ETHICS

 

The Code of Professional Ethics

You must agree to abide by the ACFE’s bylaws and Code of Professional Ethics in order to be an Associate Member of the ACFE and maintain your CFE credential. All members of the ACFE are expected to be of high moral character. When you join the ACFE as an Associate Member, you are asked to agree to the Code of Professional Ethics. You will be asked again when you apply for the CFE Exam. And you must abide by the Code of Professional Ethics throughout your tenure as a CFE.

 

COSTS

• ​Associate Membership (per annum): Standard Membership US$110, Electronic Membership US$70.

• Exam Test Prep: The full price of the CFE Exam Prep Course is $1062. Associate members receive a discounted member price of $849.60. 

• Exam Fee: The cost to take the CFE Exam is $450. If you have purchased the CFE Exam Prep Course, the fee is $350.

•         CFE Exam Prep Course is $849.60 for members and $1062 for non-members.

•         CFE Exam Prep Toolkit is $999.20 for members and $1249 for non-members

•         CFE Review Course is $2395.00. This course, in combination with the CFE Exam Prep Course                software, will provide you with an unbeatable combination for passing the exam.

•        The Fraud Examiners Manual is between $119-$299 depending on the format. 100% of the CFE 

                    Exam's questions are derived from material contained in the Fraud Examiners Manual.
 

​Once you become Certified, CFE membership is $140 for standard membership or $80 for electronic membership annually.

Once you pass the CFE Exam, you must renew your membership and complete 20 hours of continuing professional education (CPE) annually to maintain and use the CFE credential.

​

Source: www.acfe.com 

​

More details on the CFE Credential: https://www.acfe.com/cfe-credential