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CFE Exam

Prep Course
2010 Edition

Guidebook
2 CFE Exam Prep Guidebook

What You Accomplish Today


Will Help Your Career Tomorrow

Congratulations on making the commitment


to become a Certified Fraud Examiner (CFE),
an achievement that will advance your career
and enhance your professional stature as an
anti-fraud expert.

Keep this guidebook handy — it will provide the necessary instructions, support
and tips for helping you earn your CFE credential.

Whether you are beginning or continuing your journey in fighting fraud, obtaining
the CFE credential positions you as a leader within the anti-fraud profession.

Those who earn the CFE credential have the proven ability to detect and deter a
wide range of fraudulent conduct. Many major corporations, businesses, govern-
ment agencies and global entities regard CFE status as an indicator of excellence in
the profession.

For technical support issues or any other questions, contact the ACFE:

(800) 245-3321
+ 1 (512) 478-9000
8:00 a.m. - 5:00 p.m. CST
www.ACFE.com
memberservices@ACFE.com

To get started with the CFE Exam


Prep Course right away, go to pg. 9.

Look for this symbol throughout the guide for hints and study tips.
CFE Exam Prep Guidebook 3

Table of Contents

Steps to Becoming a Certified Fraud Examiner (CFE)............................................. 4


Your Certification Checklist.................................................................................... 6
CFE Exam Prep Course Contents............................................................................. 7
Installation and Registration.................................................................................... 8
Getting Started........................................................................................................ 9
CFE Exam Prep Course Weekly Study Plan............................................................ 10
Starting a Prep Session........................................................................................... 11
Ending a Prep Session........................................................................................... 12
Practice Exams...................................................................................................... 12
Checking Your Progress......................................................................................... 12
Using the Fraud Examiners Manual....................................................................... 14
Working on Two or More Computers................................................................... 14
Importing and Exporting Your Progress File.......................................................... 15
Completing the CFE Exam Prep Course................................................................. 17
Submitting Your CFE Exam Application............................................................... 17
Money-Back Pass Guarantee.................................................................................. 18
Additional Study Resources and Support............................................................... 19
Continuing Professional Education (CPE) Credits................................................ 20
Troubleshooting.................................................................................................... 21
End-User License Agreement................................................................................. 23

Remember to find a pace and study method that works for you.
Becoming a CFE is a challenging process, but with dedication,
you can accomplish your goal.
4 CFE Exam Prep Guidebook

Steps to Becoming a Certified Fraud


Examiner (CFE)
Complete the following steps to become a Certified Fraud Examiner using the CFE
Exam Prep Course.

Step 1 — Meet the CFE requirements. An applicant must:


• Be an ACFE Associate Member in good standing. To join the ACFE, or
for more information, visit www.ACFE.com or call (800) 245-3321 or
+1 (512) 478-9000.
• Have a baccalaureate degree from an institution of higher learning (see CFE
application for alternatives to the educational requirement).
• Have two or more years of professional experience either directly or indirectly
related to fraud.

Step 2 — Complete the CFE Exam application.


• The CFE Exam application is included on your CD-ROM. See pg. 17 for
information about completing the application process. Payment of the
application fee is required.
• You can study the CFE Exam Prep Course and work on obtaining your
supporting documentation for the application simultaneously. We
recommend you submit your completed application and supporting
documents at least 30 days before you expect to take the exam.

Step 3 — Complete the CFE Exam Prep Course, including the


practice tests.
• See pg. 8 for instructions on installing the CFE Exam Prep Course.
• Answer the questions in each of the four sections until you have answered
them all correctly.
• Then, test your progress by taking a practice test.
• Score at least 85% in each of the four practice test sections. Study and re-take
the tests as needed until you achieve a minimum score of 85%.
CFE Exam Prep Guidebook 5

Step 4: Export your CFE Exam Prep Course progress file and e-mail
it to the ACFE.
• See pg. 15 for instructions on exporting/verifying your progress file.
• After exporting your progress file, you will receive your CFE Exam
registration key code via e-mail within three to five business days. Continue
to study and review the questions in the CFE Exam Prep Course until you
receive your CFE Exam registration key code and are ready to take the exam.
• You may continue to study with the CFE Exam Prep Course in between
taking sections of the CFE Exam

Step 5: Take the CFE Examination.


• The CFE Exam is included on your CFE Exam Prep Course. Use the
registration key code sent to you by the ACFE to access the exam.
• Take the exam on your own computer. The exam is timed, and once you
begin a section, you must complete it in the time allotted.
• The exam is CLOSED BOOK. No use of notes, CFE Exam Prep Course
study questions or reference materials is permitted while taking each section
of the CFE Exam.
• Complete the Examinee Affidavit (included on your CFE Exam Prep Course
CD-ROM).

Note: To qualify for the Money-Back Pass Guarantee, you must complete the CFE Exam within 90 days of
completing step 3.

After answering all questions correctly at least once, go back and


review the questions again, each subsection at a time.
6 CFE Exam Prep Guidebook

Your Certification Checklist


This checklist will help you follow the steps to become a CFE.

Check the following steps or requirements as you complete them. See pg. 4, “Steps
to Becoming a CFE”, for more information about each step or requirement:

❑❑ I am an Associate Member of the ACFE in good standing.


❑❑ I meet the minimum education and experience qualifications.
❑❑ I have submitted the CFE Exam application, with proof of my education and
three CFE Candidate Recommendation Forms.
❑❑ I have submitted payment of the application fee.
❑❑ I have answered all of the CFE Exam Prep Course questions correctly, and have
scored at least 85% on each section of the practice test.
❑❑ I have exported my CFE Exam Prep Course progress file to the ACFE, and
have received a registration key code for the CFE Exam.
❑❑ I have submitted my exam results to the ACFE. Results may be sent to:
Exam@ACFE.com.
❑❑ I have submitted my Examinee Affidavit to the ACFE by fax or mail.
❑❑ I have passed the CFE Exam.

Contact your dedicated CFE Exam Coach for more information:


Angela Bowser, CFE
CFE Exam Coach
CFECoach@ACFE.com
(800) 245-3321 / +1 (512) 478-9000

Note: You will receive your official certification after the Certification Committee has evaluated all of your
documents and exam scores. Those who have attained the CFE credential will be invoiced at the CFE dues rate
upon annual membership renewal.

Consider making a study plan. Are evenings or mornings better


for you? Develop a weekly “to do” list to help you establish
immediate objectives and goals through your study plan.
CFE Exam Prep Guidebook 7

CFE Exam Prep Course Contents


The CFE Exam Prep Course contains the following essential components. To access
these folders/files, right click on “Start,” select “Explore,” then locate the Program
Files/CFE folder on your computer. A menu of folders/files included with the
course will be displayed.

AcroRead Folder
This folder contains the Adobe Acrobat installation files, which will enable you to
read the PDF files.

Backup Folder
This folder is included to aid technical support staff should you have problems with
the software.

Information Files
These are the files needed to install the CFE Exam Prep Course. The following
describes the importance of these files when using the software:
• Readme.txt — This file describes the contents of this CD-ROM, system
requirements and procedures for installing the CFE Exam Prep Course, as well as
procedures for installing and troubleshooting Adobe Acrobat Reader, the Adobe
licensing agreement and the process for viewing the Fraud Examiners Manual.
Please read the contents carefully before installing the software on your computer.
• Setup.exe — This is the CFE Exam Prep Course installation file, which will
copy all necessary files into your Program Files folder on your hard drive
during installation.
• CategoryCodes.pdf — This file contains a list of the subject category codes
used in the CFE Exam Prep Course.
• 2010 Fraud Examiners Manual.pdf — This file contains the entire text of
the Fraud Examiners Manual.

Forms
Several useful forms are included on the CD-ROM:
• CFE Exam app.pdf — This is the CFE Exam Application.
• Form-Examinee Affidavit.doc — Required for those who take the CFE Exam.
• Evaluation.pdf — Prep Course evaluation form.
• Money Pass Back Guarantee Waiver.doc — Those who sign this waiver are not
bound by the requirements of the Money-Back Pass Guarantee (See pg. 18).
8 CFE Exam Prep Guidebook

Installation and Registration


System Requirements
• Operating System: Windows 2000 or later
• Disk Space: 100 MB of available disk space
• Memory: 32 MB minimum

Installing the CFE Exam Prep Course


Exit all applications open on your computer before beginning the installation
process.
• Insert the CFE Exam Prep Course CD-ROM into the appropriate disk drive
• Double-click “My Computer”
• Double-click the CD-ROM drive icon
• Double-click SETUP.EXE
• Click OK to begin the installation and follow the on-screen instructions

Administrator Permissions
To install the CFE Exam Prep Course, you must have administrator permission. The
default installation directory is c:\program files\CFE. Once installed, administrator
permission can be removed from the user’s logon account but it must have at least
“write permission” on the installation directory. “Write permission” is required since
the progress information and the exam answers are written to a file in that directory.

Registering the CFE Exam Prep Course


The first time you start the CFE Exam Prep Course, it will prompt you to register
the software. You must complete this form before you can use the course. Your key
code is located on the back of your Prep Course package. Make sure to use uppercase
letters when entering your key code. The name entered will be used to identify you
when you send your progress file to the ACFE. The address information is optional
but recommended since this information will be used to differentiate you from oth-
ers with similar (or the same) names.

Mark the questions that you missed or do not fully understand.


You can easily go back to specific questions to answer them again.
CFE Exam Prep Guidebook 9

Getting Started
CFE Exam Prep Course/CFE Exam Topics
There are four main sections of the CFE Exam Prep Course and the CFE Exam.
Each main section includes topic-specific subsections — you can view these subsec-
tions and the number of questions in each by selecting “Status”, then “Detailed
Status Report.”

The sections are:


• Fraud Prevention and Deterrence — Tests your knowledge of why people
commit fraud and what can be done to prevent it. Topics covered in this
section include crime causation, white-collar crime, occupational fraud, fraud
prevention, fraud risk assessment, and the ACFE Code of Professional Ethics.
• Financial Transactions and Fraud Schemes — Reviews the types of
fraudulent financial transactions in accounting records. To pass this section,
you will be required to demonstrate knowledge of basic accounting and
auditing theory, fraud schemes, internal controls to deter fraud and other
auditing and accounting matters.
• Legal Elements of Fraud — Ensures that you are familiar with the many
legal ramifications of conducting fraud examinations, including criminal
and civil law, rules of evidence, rights of the accused and accuser and expert
witness matters.
• Fraud Investigation — Includes questions about interviewing, taking
statements, obtaining information from public records, tracing illicit
transactions, evaluating deception and report writing.

Start by answering some questions to get a feel for the format


of the course. It is recommended that you start by answering
the questions and studying the detailed explanation and the
material related to the questions as you go.
10 CFE Exam Prep Guidebook

CFE Exam Prep Course Weekly Study


Plan
To Complete the CFE Exam Prep Course in 30 Days
• You must spend about 10 hours per week on the CFE Exam Prep Course.
• It is not necessary to pre-read the Fraud Examiners Manual if you are studying
to complete the CFE Exam Prep Course in 30 days.
• You may study the sections in any order you choose.
• The ACFE recommends you begin studying with your strongest of the four
sections (the area in which you are most knowledgeable) and work up to
your weakest area. This way, you are studying your weakest area closest to the
exam.
• Because of the short time frame of preparation, we recommend studying one
section at a time; this will allow you to stay focused.
• Answer each question in each section to the best of your knowledge until all
of the questions are answered.
• After each question is answered, a detailed explanation of the answer is
printed immediately below the colored bar.

To Complete the CFE Exam Prep Course in 60 Days


• You must spend about five hours per week on the CFE Exam Prep Course.
• It is not necessary to pre-read the Fraud Examiners Manual if you are studying
to complete the CFE Exam Prep Course in 60 days.
• You may study the sections in any order you choose.
• The ACFE recommends you begin studying with your strongest of the four
sections ( the area in which you are most knowledgeable ) and work up to
your weakest area. This way, you are studying your weakest area closest to the
exam.
• Because of the short time frame of preparation, we recommend studying one
section at a time; this will allow you to stay focused.
• Answer each question in each section to the best of your knowledge until all
of the questions are answered.
• After each question is answered, a detailed explanation of the answer is
printed immediately below the colored bar.
CFE Exam Prep Guidebook 11

To Complete the CFE Exam Prep Course in 90 Days


• You must spend about four hours per week on the Prep Course.
• It is not necessary to pre-read the Fraud Examiners Manual if you are studying
to complete the CFE Exam Prep Course in 90 days.
• You may study the sections in any order you choose.
• The ACFE recommends you begin studying with your strongest of the four
sections (the area in which you are most knowledgeable ) and work up to
your weakest area. This way, you are studying your weakest area closest to the
exam.
• Because of the short time frame of preparation, we recommend studying one
section at a time; this will allow you to stay focused.
• Answer each question in each section to the best of your knowledge until all
of the questions are answered.
• After each question is answered, a detailed explanation of the answer is
printed immediately below the colored bar.

Starting a Prep Session


Each one of the four main sections of the Prep Course has its own menu item under
the File menu. To begin a session, select one of the four main sections, and choose
a testing mode:
• Normal mode — The program randomly selects questions you have missed
or have not answered from within the entire selected main section.
• Marked Questions mode* — The program will only present those questions
you have previously marked within the selected main section.
• Subsection mode** — Questions in the chosen subsection will be presented
randomly.

The bottom of each prep session screen displays a summary of information that will
help guide you through the session. Holding the mouse over each panel along the
bottom will give you an explanation of the panel’s contents.

*Note: You cannot select marked questions from a single subsection. All marked questions from the selected
main section will be presented.

**Note: Subsection mode includes all questions in the subsection including questions that were previously
answered correctly.
12 CFE Exam Prep Guidebook

Ending a Prep Session


To end a session, click the exit button in the lower right-hand corner or select File >
Exit from the menu at the top of the screen. If you have answered at least one ques-
tion, a session report will automatically appear with your results from the current
session.

Note: Individual session report summaries CANNOT be retrieved after the application is closed

Practice Exams
The practice test is designed to allow you to familiarize yourself with the mechanics
of the program prior to starting a test. You can access the practice test by clicking
on the Practice Test menu or the File menu labeled Practice Test. This will give you
an understanding of what to expect when taking the four tests that make up the
exam. You may take the practice tests as many times as you like, but only the last
score is saved.

Checking Your Progress


There are several ways to check your progress:
• Preparation Summary — The Preparation Summary can be found under
Status > Prep Summary. Progress is saved only after you have successfully
exited the application. You will be able to view your progress upon
re-launching the application.
CFE Exam Prep Guidebook 13

• Detailed Status Report — The second way to examine your progress is the
Detailed Status Report. This report breaks down each section into topic-
related subsections and shows your percentage of correct answers. You will
be able to view the number of questions you answered correctly out of the
number of total questions in each subsection. This report highlights topics
you may need to study further.

Make sure you are consistently scoring at 85% or higher in each main
section to ensure that you are ready for the Exam. Answer as few or
as many questions in a given sitting and the software will calculate the
percent answered correctly.


By setting daily goals of more than was required to finish within
one year, it enabled me to be worry free if an unforeseen ob-
stacle occurred. Weekly reanalyzing of my progress was encour-
aging to know I was ahead of completion scheduled.”
— Crystal Watson, CFE
14 CFE Exam Prep Guidebook

Using the Fraud Examiners Manual


An excellent reference guide to use while taking the CFE Exam Prep Course is the
Fraud Examiners Manual. The Fraud Examiners Manual, regarded as the reference
standard for the anti-fraud profession, is a comprehensive guide fully explaining the
latest fraud examination techniques, methods and procedures.

A PDF copy of the manual is installed on your computer with the Prep Course. It is
titled, “2010 Fraud Examiners Manual.pdf.” You must use Adobe Acrobat Reader
to view the file. If you do not have Adobe Acrobat already installed, please open the
“AcroRead” folder on the CD and choose “setup.exe” to install the Reader software.

You may also print out all or part of the manual. Alternatively, a printed version of
the Fraud Examiners Manual is available for purchase from the ACFE (visit
www. ACFE.com/Shop for details.) You may also use the Fraud Examiners Manual
as a reference tool separately from the CFE Exam Prep Course.

Working on Two or More Computers


The CFE Exam Prep Course gives you the flexibility to work on multiple comput-
ers. First, you must install the CFE Exam Prep Course program on both computers.
Then you may export your progress file from one computer and transfer it to your
second computer. This can be done by disk or by e-mail. On the second computer,
open the CFE Exam Prep Course application and click on Utilities > Import and
navigate to your progress file.

Note: Previously marked questions will not show up as marked on the second computer. Progress files from two
computers cannot be merged.

“ The ACFE Staff I have dealt with have been so courteous,


accommodating and helpful. The length of time it took to get
the exam code after completion of the Prep Course and to get
my results after completing the exam was amazingly short.”
— Lisa Schofield, CFE
CFE Exam Prep Guidebook 15

Importing and Exporting Your Progress


File
The Export Progress utility is used to export a record of your study progress from
one computer to another and to create a file to send to ACFE after the Prep Course
requirements are fulfilled. It can also be used as a way to back up your progress as
you work through the material.

To export your progress file:


1. Access the Utilities Menu and select Export Progress File:

2. Select your save destination and enter the file name using firstname_lastname.

3. You will receive notification confirming the export was successful.


16 CFE Exam Prep Guidebook

To import your progress file:


1. Access the Utilities Menu and select Import Progress File:

2. Select the file from the location where your progress file was previously saved
and click “Open”:

3. Confirm that you wish to overwrite the previous progress file by selecting “Yes”*:

4. You will receive notification confirming the import


was successful:

*You will not be able to retrieve the previous Prep data once you have
overwritten the file.
CFE Exam Prep Guidebook 17

Completing the CFE Exam Prep Course


To take the CFE Exam and qualify for the Money-Back Pass Guarantee (see pg. 18
for more about the Money-Back Pass Guarantee), you must take the following steps
within one year of purchase:
1. Complete all sections of the CFE Exam Prep Course by answering each
question correctly.
2. Score at least 85% in the each section during the practice exam (Note: The
software will only record your most recent score for each section).
3. Export your progress file and send it to the Association of Certified Fraud
Examiners. It is preferred that you e-mail it as an attachment to
Exam@ACFE.com.
4. Take the CFE Exam within 90 days* of completing Steps 1 and 2 above.
*Completion date is recorded automatically by the software the day of the last completed practice exam, or on
the date you completed answering all questions correctly — whichever is later.

Submitting Your CFE Exam Application


To take the CFE Examination, you must submit a completed CFE Exam Applica-
tion. This application is included on your Prep Course CD-ROM, but can also be
downloaded from www.ACFE.com/CFE.

You must submit your CFE Exam Application form with proof of your education,
three CFE Candidate Recommendation Forms, a recent photograph and payment.
A photocopy of transcripts or certificates for any degrees earned and professional
certifications acquired are acceptable for proof of education.

All materials must be submitted to ACFE Membership Admissions:


Association of Certified Fraud Examiners
Attn: Certification Department
716 West Avenue
Austin, TX 78701
Phone: (800) 245-3321 / +1 (512) 478-9000
Fax: +1 (512) 478-9297
18 CFE Exam Prep Guidebook

Money-Back Pass Guarantee


To qualify for the Money-Back Pass Guarantee, you must meet the following
conditions:
1. Correctly answer all questions in the Prep Course database at least once. If you
incorrectly answer a question, it will return to the question pool and you will
be asked the question again at a future time.
2. As soon as you have answered all the Prep Course questions at least once, and
scored at least 85% on the most recent practice exam in each of the four main
sections, you may take the CFE Exam. You must complete the Prep Course
within one year of the purchase date and finish the exam within 90 days of
completing the Prep Course. Use the tear-off reminder card in the back of this
guidebook to help you keep track of your purchase date.
3. You must export your information after completing the Prep Course and
return it to the ACFE by e-mail at exam@ACFE.com.

You may waive your option to qualify for the Money-Back Pass Guarantee. Use the
Money-Back Pass Guarantee Waiver included on your CD-ROM, fill out the form
and fax or mail it to the ACFE.

Note: If you qualify for the Money-Back Pass Guarantee and you fail any of the four sections of the Exam,
you may retake those sections again at no additional cost. If you do not wish to retake the sections, then you
may receive a refund of the purchase price of the CFE Prep Exam Prep Course software. (Please note that if
you received/purchased this software in connection with a special offer such as a bundle or as part of a live
instructional program, you may only receive a refund of that portion of the purchase price that is allocated to
the Prep Course software.)

The CFE Exam


All members are required to pass the CFE Examination in order to earn their CFE
credential. The CFE Exam is administered via computer so you can take it at a
convenient time.

The CFE Exam contains 500 multiple choice and true/false questions designed to
test your knowledge in four areas:
• Fraud Prevention and Deterrence
• Financial Transactions and Fraud Schemes
• Legal Elements of Fraud
• Fraud Investigation
CFE Exam Prep Guidebook 19

Approximately 90% of the questions on the CFE Exam come from the Fraud
Examiners Manual. The remaining questions are derived from the Corporate Fraud
Handbook, Second Edition by Joseph T. Wells (2007, published by John Wiley &
Sons, ISBN 9780470095911).

Purchasing the Corporate Fraud Handbook is optional — use of the book is not
needed to successfully complete the Prep Course or the exam; however, we do
recommend it as an excellent reference tool.

Additional Study Resources and Support


The ACFE has numerous resources to assist you through the process of obtaining
your CFE credential. Take advantage of these resources today!
• Find a CFE in Your Area — Locate a CFE in your area to learn more about
the certification process and the benefits of becoming a CFE. You can also
meet mentors and study with others in your local ACFE chapter. To use
either of these services, visit the ACFE web site at www.ACFE.com and click
on the “Fraud Resources” link.
• A Dedicated Coach — The CFE Coach is dedicated to providing you
with the encouragement and support you need throughout the certification
process. This ACFE staff member works exclusively with members who are
preparing for the CFE Exam. E-mail: CFECoach@ACFE.com
• Discussion Forums — CFE members can visit the CFE Exam/Prep
discussion forum to post questions online and receive feedback from other
members and ACFE staff. The discussion forums are located in the Members
Only section of www.ACFE.com
• CFE Exam Coach E-Newsletter — Containing study tips, practice questions,
suggestions from members who have taken the exam and more, this monthly
e-newsletter is a useful tool for anyone pursuing CFE certification. Be sure to
keep your e-mail address updated with the ACFE to receive this valuable tool.
• CFE Exam Review Course — Prefer a classroom environment? This 3½ day,
instructor-led course provides the essentials needed to pass the CFE Exam
and become a Certified Fraud Examiner. This course, in combination with
the CFE Exam Prep Course software, will provide you with an unbeatable
combination for passing the exam.
• Support Staff — The ACFE staff will be happy to help you with technical
support issues or any other questions you may have. Contact the ACFE at
(800) 245-3321 / +1 (512) 478-9000 between 8 a.m. - 5 p.m. CST or by
e-mail at memberservices@ACFE.com
20 CFE Exam Prep Guidebook

Continuing Professional Education


(CPE) Credits
Individuals who complete the CFE Exam Prep Course will earn 35 CPE hours.
Due to changes in NASBA’s CPE standards, we are currently not issuing NASBA-
compliant CPE credits for this course; however, your local licensing body may still
grant CPE credit. Please contact the organization for which you plan to claim CPE
credit to determine if it will grant CPE hours for completion of this course.

To Claim CPE Credit


To earn CPE credit, you must complete each section of the CFE Exam Prep Course
by answering each question correctly at least once AND you must score at least
85% on each of the practice tests for the four major subject areas (Financial, Legal,
Investigation, Fraud Prevention). If you are currently not a CFE, CPE credits
earned before obtaining the CFE cannot be claimed in the future.

Maintaining Your CFE Credential


All Certified Fraud Examiners must exemplify the highest moral and ethical
standards and must agree to adhere to the Certified Fraud Examiner Code of Pro-
fessional Ethics. Certified Fraud Examiners are also required to complete at least 20
hours of continuing professional education (CPE) per 12 months.

At least 10 hours of CPE credit must be fraud-related. CFEs must certify their com-
pliance with CPE requirements on an annual basis according to their anniversary
date. For more information about CPE compliance, visit www.ACFE.com/CPE.
CFE Exam Prep Guidebook 21

Troubleshooting
Message: Run-Time Error (insufficient permissions)
After installing the CFE Exam Prep Course, launch the application and enter the
activation code. When you press ‘Enter,’ the application writes your activation
information to a file located in the installation directory (default location is C:\
Program Files\CFE). If you do not have at least “write permission,” you will receive
the following error:

Someone with “Administrator Permission” on your local machine will have to give
you at least “write permission” to the installation directory in order to avoid this
error.

To check to see if you have Administrator Permission:


1. Right-click on My Computer and click Manage in the pop-up menu.
2. The Computer Management window will open and in the left-hand pane
there will be a ‘Local Users and Groups’.
3. Expand Local Users and Groups and then click on Groups.
4. The right-hand pane will have a list of all groups on the computer.
5. Double click on the Administrators group to open the Administrators
Properties.
6. In the ‘Members:’ box will be a list of everyone that has been added to the
Administrators group.
7. If your user name is not listed in this group, you do not have write permission
and need to contact and administrator to receive it.
22 CFE Exam Prep Guidebook

Error message: Runtime error ‘339’ Component ‘comdlg32.ocx’ not


correctly registered.
1. To resolve this error open the Start Menu and select “Run”.
2. Type regsvr32.exe comdlg32.ocx.
3. You will receive notification that the operation was successful.

Error messages when trying to access Help.HLP or Glossary.HLP


When trying to access the help/glossary file I receive an error “Cannot find file.
Would you like to browse for it”:
1. To resolve this error click “Browse”.
2. Navigate to the installation location of the CFE Exam Prep Course. The
default location is C:\Programfiles\CFE.
3. Click on the Help/Glossary file and the file should now open.

When I try to access Help.HLP in Windows Vista, the file will not
open:
1. To resolve this error visit www.microsoft.com.
2. Download WinHlp32.exe (can be located by using search box).
3. Install WinHlp32.exe.
4. The Help and Glossary files should now open in Windows Vista.

During installation I receive the error: “There has been an error in


module LoadSysVars. Error number (429) ActiveX component can’t
create object.”
1. To resolve this error insert the CFE Exam Prep Course CD into your CD
drive.
2. Browse the CFE Exam CD by right clicking on the CD drive and selecting
explore.
3. Access the backup folder.
4. Select the MDAC_2_8 folder.
5. Run MDAC_TYP.EXE located in this folder.
CFE Exam Prep Guidebook 23

End User License Agreement


IMPORTANT — READ CAREFULLY: This End-User License Agreement (EULA) is a legal agreement
between you (either an individual person or a single legal entity, who will be referred to in this EULA as
“You”) and the Association of Certified Fraud Examiners (ACFE) for the ACFE software product that ac-
companies this EULA, including any associated media, printed materials and electronic documentation
(the “Software Product”). The Software Product also includes any software updates, add-on compo-
nents, web services and/or supplements that ACFE may provide to You or make available to You after the
date You obtain Your initial copy of the Software Product to the extent that such items are not accom-
panied by a separate license agreement or terms of use. By installing, copying, downloading, accessing
or otherwise using the Software Product, You agree to be bound by the terms of this EULA. If You do not
agree to the terms of this EULA, do not install, access or use the Software Product; instead, You should
return it to Your place of purchase for a full refund.

SOFTWARE PRODUCT LICENSE


The Software Product is protected by intellectual property laws and treaties and is licensed, not sold.

1. GRANT OF LICENSE
This Section of the EULA describes Your general rights to install and use the Software Product. The
license rights described in this Section are subject to all other terms and conditions of this EULA.

General License Grant to Install and Use Software Product. Subject to the terms and conditions of the EULA,
ACFE grants to You and You hereby accept, without the right to sublicense, a nonexclusive, nontransferable
license to install and use the Software Product. You may install and use one copy of the Software Product on a
single computer, device, workstation, terminal, or other digital electronic or analog device (“Device”). You may
make a second copy of the Software Product and install it on a portable Device for the exclusive use of the
person who is the primary user of the first copy of the Software Product. A license for the Software Product
may not be shared, sublicensed, sold, or otherwise transferred to a third party without the express written
consent of ACFE.

Additional License Grant for Media Elements. The Software Product may include certain photographs,
clip art, animations, sounds, music and video clips (together “Media Elements”). If so, the following
terms describe Your rights to the Media Elements:

You are not licensed to do any of the following:


• You may not sell, license or distribute copies of the Media Elements on a stand-alone basis or as part of any
collection, product or service where the primary value of the product or service are the Media Elements.
• You may not use or distribute any of the Media Elements that include representations of identifiable individuals,
governments, logos, initials, emblems, trademarks, or entities for any commercial purposes or to express or imply
any endorsement or association with any product, service, entity, or activity.
• You may not create obscene or scandalous works, as defined by federal law at the time the work is created, using
the Media Elements.
• You must indemnify, hold harmless, and defend ACFE from and against any claims or lawsuits, including attorneys’
fees, that arise from or result from the use or distribution of Media Elements as modified by You.
• You must include a valid copyright notice on Your products and services that include copies of the Media Elements.
• You may not permit third parties to distribute copies of the Media Elements except as part of Your product or service.

Reservation of Rights. All rights not expressly granted are reserved by ACFE.
24 CFE Exam Prep Guidebook

2. DESCRIPTION OF OTHER RIGHTS AND LIMITATIONS.


Mandatory Activation. You may not be able to exercise Your rights to the Software Product under this
EULA after a finite number of product launches unless You activate Your copy of the Software Product in
the manner described during the launch sequence.

Copy Protection. The Software Product may include copy protection technology to prevent the unau-
thorized copying of the Software Product or may require original media for use of the Software Product
on the Device. It is illegal to make unauthorized copies of the Software Product or to circumvent any copy
protection technology included in the Software Product.

Limitations on Reverse Engineering, Decompilation, and Disassembly. You may not reverse engi-
neer, decompile, or disassemble the Software Product, except and only to the extent that such activity is
expressly permitted by applicable law notwithstanding this limitation.

Separation of Component Parts. The Software Product is licensed as a single product. Its component
parts may not be separated for use on more than one Device unless expressly permitted by this EULA.

Trademarks. This EULA does not grant You any rights in connection with any trademarks or service
marks of ACFE.

Support Services. ACFE may provide You with support services related to the Software Product (“Support
Services”). Any supplemental software code provided to You as part of the Support Services are considered
part of the Software Product and subject to the terms and conditions of this EULA. You acknowledge and
agree that ACFE may use technical information You provide to ACFE as part of the Support Services for its
business purposes, including for product support and development. ACFE will not utilize such technical
information in a form that personally identifies you.

Termination. Without prejudice to any other rights, ACFE may terminate this EULA if You fail to comply
with the terms and conditions of this EULA. In such event, You must destroy all copies of the Software
Product and all of its component parts.

3. INTELLECTUAL PROPERTY RIGHTS


All title and intellectual property rights in and to the Software Product (including but not limited to any
images, photographs, animations, video, audio, music, text and “applets” incorporated into the Software
Product), the accompanying printed materials, and any copies of the Software Product are owned by
ACFE or its suppliers. All title and intellectual property rights in and to the content that is not contained in
the Software Product, but may be accessed through use of the Software Product, is the property of the
respective content owners and may be protected by applicable copyright or other intellectual property
laws and treaties. This EULA grants You no rights to use such content.

4. BACKUP COPY
After installation of one copy of the Software Product pursuant to this EULA, you may keep the original
media on which the Software Product was provided by ACFE solely for backup or archival purposes. If
the original media is required to use the Software Product on the Device, you may make one copy of
the Software Product solely for backup or archival purposes. Except as expressly provided in this EULA,
you may not otherwise make copies of the Software Product or the printed materials accompanying the
Software Product.
CFE Exam Prep Guidebook 25

5. US GOVERNMENT LICENSE RIGHTS


All Software Product provided to the U.S. Government pursuant to solicitations issued on or after Decem-
ber 1, 1995 is provided with the commercial license rights and restrictions described elsewhere herein.

6. EXPORT RESTRICTIONS
You acknowledge that the Software Product is of U.S. origin. You agree to comply with all applicable
international and national laws that apply to the Software Product, including the U.S. Export Administra-
tion Regulations, as well as end-user, end-use and destination restrictions issued by U.S. and other
governments.

7. APPLICABLE LAW
This EULA shall be interpreted, construed, enforced and governed by and in accordance with the laws of
the State of Texas without regard to conflict of law provisions. Venue for all disputes shall lie exclusively
in Travis County, Texas. You consent to the jurisdiction of any court of competent jurisdiction situated in
Travis County, Texas.

8. LIMITED WARRANTY
ACFE warrants that the Software Product will perform substantially in accordance with the accompany-
ing materials for a period of one year from the date of receipt.

If an implied warranty or condition is created by your state/jurisdiction and federal or state/provincial law
prohibits disclaimer of it, you also have an implied warranty or condition, BUT ONLY AS TO DEFECTS
DISCOVERED DURING THE PERIOD OF THIS LIMITED WARRANTY (ONE YEAR). AS TO ANY
DEFECTS DISCOVERED AFTER THE ONE YEAR PERIOD, THERE IS NO WARRANTY OR CONDI-
TION OF ANY KIND. Some states/jurisdictions do not allow limitations on how long an implied warranty
or condition lasts, so the above limitation may not apply to you.

LIMITATION ON REMEDIES; NO CONSEQUENTIAL OR OTHER DAMAGES. Your exclusive remedy


for any breach of this Limited Warranty is as set forth below. Except for any refund elected by ACFE,
YOU ARE NOT ENTITLED TO ANY DAMAGES, INCLUDING BUT NOT LIMITED TO CONSEQUEN-
TIAL DAMAGES, if the Software Product does not meet ACFE’s Limited Warranty, and, to the maximum
extent allowed by applicable law, even if any remedy fails of its essential purpose. The terms of Section
10 below (“Exclusion of Incidental, Consequential and Certain Other Damages”) are also incorporated
into this Limited Warranty. Some states/jurisdictions do not allow the exclusion or limitation of incidental
or consequential damages, so the above limitation or exclusion may not apply to you. This Limited War-
ranty gives you specific legal rights. You may have others which vary from state/jurisdiction to state/
jurisdiction.

YOUR EXCLUSIVE REMEDY. ACFE’s and its suppliers’ entire liability and your exclusive remedy shall be,
at ACFE’s option from time to time exercised subject to applicable law, (a) return of the price paid (if any)
for the Software Product, or (b) repair or replacement of the Software Product, that does not meet this
Limited Warranty and that is returned to ACFE with a copy of your receipt. You will receive the remedy
elected by ACFE without charge, except that you are responsible for any expenses you may incur (e.g.
cost of shipping the Software Product to ACFE). This Limited Warranty is void if failure of the Software
Product has resulted from accident, abuse, misapplication, abnormal use or a virus. Any replacement
Software Product will be warranted for the remainder of the original warranty period or thirty (30) days,
whichever is longer. To exercise your remedy, contact: ACFE, Attn. Member Services/716 West Ave./
Austin, TX 78701.
26 CFE Exam Prep Guidebook

9. DISCLAIMER OF WARRANTIES
The limited warranty that appears above is the only express warranty made to you and is provided in
lieu of any other express warranties (if any) created by any documentation or packaging. Except for the
limited warranty and to the maximum extent permitted by applicable law, ACFE and its suppliers provide
the software and support services (if any) as is and with all faults, and hereby disclaim all other warran-
ties and conditions, either express, implied or statutory, including, but not limited to, any (if any) implied
warranties, duties or conditions of merchantability, of fitness for a particular purpose, of accuracy or
completeness or responses, of results, of workmanlike effort, of lack of viruses and of lack of negligence,
all with regard to the software, and the provision of or failure to provide support services. Also, there is
no warranty or condition of title, quiet enjoyment, quiet possession, correspondence to description or
non-infringement with regard to the software.

10. EXCLUSION OF INCIDENTAL, CONSEQUENTIAL AND CERTAIN OTHER DAMAGES


To the maximum extent permitted by applicable law, in no event shall acfe or its suppliers be liable for
any special, incidental, indirect, or consequential damages whatsoever (including, but not limited to,
damages for loss of profits or confidential or other information, for business interruption, for personal
injury, for loss of privacy, for failure to meet any duty including of good faith or of reasonable care, for
negligence, and for any other pecuniary or other loss whatsoever) arising out of or in any way related to
the use of or inability to use the software product, the provision of or failure to provide support services,
or otherwise under or in connection with any provision of this eula, even in the event of the fault, tort
(including negligence), strict liability, breach of contract or breach of warranty of acfe or any supplier, and
even if acfe or any supplier has been advised of the possibility of such damages.

11. LIMITATION OF LIABILITY AND REMEDIES


Notwithstanding any damages that you might incur for any reason whatsoever (including, without limita-
tion, all damages referenced above and all direct or general damages), the entire liability of acfe and any
of its suppliers under any provision of this eula and your exclusive remedy for all of the foregoing (except
for any remedy of repair or replacement elected by acfe with respect to any breach of the limited war-
ranty) shall be limited to the greater of the amount actually paid by you for the software or US $5.00. The
foregoing limitations, exclusions and disclaimers (including sections 7, 8, and 9 above) shall apply to the
maximum extent permitted by applicable law, even if any remedy fails its essential purpose.

12. ENTIRE AGREEMENT


This EULA (including any addendum or amendment to this EULA which is included with the Software
Product) is the entire agreement between you and ACFE relating to the Software Product and the sup-
port services (if any) and they supersede all prior or contemporaneous oral or written communications,
proposals and representations with respect to the Software Product or any other subject matter covered
by this EULA. To the extent the terms of any ACFE policies or programs for support services conflict with
the terms of this EULA, the terms of this EULA shall control.
R ea ch your goal
an d be co m e
a CF E!

I purchased the CFE Exam Prep Course on:

Purchase Date

I have one year to complete the course. My completion


deadline is:

Completion Deadline Date

I completed the CFE Exam Prep Course on:

CFE EXAM PREP COURSE COMPLETION Date

I have 90 days from the time I completed the CFE Exam Prep
Course to take the CFE Exam:

CFE Exam Deadline Date


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Phone: (800) 245-3321 / +1 (512) 478-9000
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