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CFE Live Online Exam Preparation Course_ Fall 2022_ Spring 2023

The Certified Fraud Examiner® (CFE®) is a globally accepted certification for professionals, by far the world’s best known and the standard by which individuals can demonstrate their competency in the antifraud fields. The CFE credential denotes proven expertise in fraud prevention, detection and deterrence. This essential body of knowledge combines knowhow in complex financial transactions with an understanding of law and proficiency in fraud-specific auditing and investigation methods, as applied to resolve allegations of fraud.

The Certified Fraud Examiner® (CFE®) is a globally accepted certification for professionals, by far the world’s best known and the standard by which individuals can demonstrate their competency in the antifraud fields. The CFE credential denotes proven expertise in fraud prevention, detection and deterrence. This essential body of knowledge combines knowhow in complex financial transactions with an understanding of law and proficiency in fraud-specific auditing and investigation methods, as applied to resolve allegations of fraud.

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CFE®

BECOME A FRAUD EXPERT

LIVE ONLINE EXAM PREPARATION COURSE | 2022


THE SCHOOL OF PROFESSIONAL STUDIES

CFE – CERTIFIED FRAUD EXAMINER

LIVE ONLINE EXAM PREPARATION COURSE | 2022

CONTENTS

ABOUT THE ACFE - ASSOCIATION OF CERTIFIED FRAUD EXAMINERS .................................................................................................................... 3

CFE - CERTIFIED FRAUD EXAMINER CREDENTIAL ......................................................................................................................................................... 3

THE SCHOOL OF PROFESSIONAL STUDIES (SPS)........................................................................................................................................................... 3

CFE LIVE ONLINE EXAM PREPARATION COURSE – PROFILE OF THE PROGRAM ................................................................................................ 3

CLASS SCHEDULE ..................................................................................................................................................................................................................... 4

WHERE CAN I WORK AS A CFE?............................................................................................................................................................................................ 4

BECOME A CERTIFIED FRAUD EXAMINER.......................................................................................................................................................................... 5

WHEN WILL I RECEIVE MY CFE CERTIFICATE ONCE I HAVE PASSED THE CFE EXAM? ....................................................................................... 6

THE CFE EXAM FORMAT .......................................................................................................................................................................................................... 6

CFE EXAM CONTENT OUTLINE ............................................................................................................................................................................................... 6

EXAM PREP COURSE SOFTWARE BY ACFE ....................................................................................................................................................................... 7

CPD UNITS | CERTIFICATE OF ATTENDANCE ..................................................................................................................................................................... 7

MEET OUR TUTORS - PROFILES ............................................................................................................................................................................................ 8

LIVE ONLINE EXAM PREPARATION COURSE .................................................................................................................................................................... 9

CANCELLATIONS ....................................................................................................................................................................................................................... 11

CONTACT DETAILS .................................................................................................................................................................................................................... 11

02


ABOUT THE ACFE - ASSOCIATION OF CERTIFIED FRAUD EXAMINERS

The Association of Certified Fraud Examiners (ACFE) is the world's largest anti-fraud professional organization

with more than 90.000 members in 160 countries and chapters in 125 countries. Members of the ACFE include

auditors, CPAs and investigators; national, state, and local law enforcement officers, prosecutors, security

professionals, and risk and loss managers. The ACFE is reducing business fraud worldwide and inspiring public

confidence in the integrity and objectivity within the profession.

The ACFE grants the professional designation of Certified Fraud Examiner (CFE).

CFE - CERTIFIED FRAUD EXAMINER CREDENTIAL

Certified fraud examiners (or CFEs) are essential in today’s business world. As technological advances continue to

modify the way businesses operate, the need for CFEs has never been greater. Organizations throughout the

world, in all types of industries, employ certified fraud examiners and rely upon them to protect company assets

and aid in the prevention, detection, and investigation of fraud. Why is there such demand for certified fraud

examiners? Given the amount of money that is lost by organizations to fraud and abuse, an estimated $4 trillion

worldwide according to a 2018 report by the Association of Certified Fraud Examiners*, it is easy to understand

why the corporate world is actively seeking qualified certified fraud examiners.

The Certified Fraud Examiner (CFE) credential denotes proven expertise in fraud prevention, detection and

deterrence. CFEs are trained to identify the warning signs and red flags that indicate evidence of fraud and fraud

risk. CFEs around the world help protect the global economy by uncovering fraud and implementing processes to

prevent fraud from occurring in the first place. Certified Fraud Examiners (CFEs) have a unique set of skills that

is not found in any other career field or discipline. They combine knowledge of complex financial transactions

with an understanding of investigative techniques, legal issues and the ability to resolve allegations of fraud. Fraud

examiners are also trained to understand not only how fraud occurs, but also why.

THE SCHOOL OF PROFESSIONAL STUDIES (SPS)

The School of Professional Studies of Cyprus College was established in 1977 and it was the first college in Cyprus

specializing in the provision of professional courses. Since then, SPS is one of the leading providers in professional

education, training thousands of students to earn a professional qualification. SPS has been delivering CFE Exam

Preparation courses for the last 5 years with excellent results.

SPS CFE LIVE ONLINE EXAM PREPARATION COURSE – PROFILE OF THE PROGRAM

There is no better way to ensure content retention and exam-taking confidence than by reinforcing your CFE

Program exam preparation with Live-Online weekly classes. Our 18-weeks series of Live- Online Classes led by

experienced and highly qualified tutors give you a solid framework to prepare, practice, and perform on the CFE

Program exam. Our tutors cover the syllabus using exam focus material and help candidates to comprehend the

difficult parts of the curriculum. The four (4) modules tested at the CFE exam:

FINA NCIA L T RA NSA CT IO NS & FR AUD SCH EM ES — tests your comprehension of the types of fraudulent financial

transactions incurred in accounting records. To pass Financial Transactions & Fraud Schemes, you will be

required to demonstrate knowledge of the following concepts: basic accounting and auditing theory, fraud

schemes, internal controls to deter fraud and other auditing and accounting matters.

03


LAW — ensures your familiarity 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.

INVES TIG AT ION — includes questions about interviewing, taking statements, obtaining information from public

records, tracing illicit transactions, evaluating deception and report writing.

FRA UD PR EVENT ION & DETERRENCE — tests your understanding of why people commit fraud and ways 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.

CLASS SCHEDULE

Taking into consideration the busy professional the class will meet mostly once a week and on four Saturdays

during the 5-month tuition period, thus allowing candidates to take advantage of their weekends to study the

material delivered during the week. All the lectures take place between 6:15pm and 9:15pm, except the FT&FS

module, which class meetings will commence at 6:00pm. Saturday's lectures are taking place between 9:00am -

13:00pm.

WHO SHOULD ATTEND?

Are you interested in taking your career to the next level by earning the standard of professional excellence in

the anti-fraud profession? Are you an internal /external or forensic auditor; qualified accountant; investigator;

forensic investigators; law enforcement officer; employee from financial institutions such as the banking and

insurance; legal practitioner; security professional; risk and loss management professional, executive; fraud

examiner ; specialized investigator in income tax, customs and excise ; risk manager; financial manager; manager

or any other professional dealing with fraud? Then this is your chance to get a competent training and become

certified as a Fraud Examiner (CFE).

WHERE CAN I WORK AS A CFE?

Becoming a Certified Fraud Examiner opens the door to numerous career opportunities. With their knowledge of

financial transactions, law, investigation and criminology, the Certified Fraud Examiner understands how and why

fraud takes place and is able to detect, track and prevent it.

Private companies are not the only ones seeking help from Certified Fraud Examiner. Government agencies like

the police and Inland Revenue employ CFEs as forensic accountants to investigate everything from money

laundering and identity-theft related fraud to arson-for-profit and tax evasion.

04


BECOME A CERTIFIED FRAUD EXAMINER

Meet minimum academic and professional entry requirements. Your eligibility to be certified is based on a point

system which awards credit for education, professional affiliations, and experience. To be certified, a candidate

must have a minimum of two years professional experience and 50 points.



STEP 1: Join the ACFE. Be an Associate member of the ACFE in good standing and earn your CFE

credential.

STEP 2: Prepare for the CFE Exam; join Cyprus College SPS CFE Exam Preparation course. This Live Online

Instructor-led course provides the essentials needed to pass the CFE Exam and become a Certified Fraud

Examiner. The CFE Exam Prep Course Software It is recommended to all exam applicants as it includes

approximately 1500 study questions and practice tests that simulate the actual CFE Exam experience.

The CFE Exam Prep Course® designed with the busy anti-fraud professional in mind, provides the most

effective training available to prepare you for the CFE Exam. With its included study questions and

practice exams, the Prep Course will help you prepare to pass the rigorous CFE Exam. As of 2021 Edition

of the CFE Exam, there will no longer be separate U.S. and International versions of the exam; instead,

the exam will be based upon a single, globally applicable content outline. Therefore, you can longer

purchase the international version of materials. The new content outline has been updated to reflect

changes in the fraud examination field, with additional focus on emerging schemes and trends, as well as

the use of technology by both fraud perpetrators and fraud examiners. If you would like to proceed in

purchasing materials, you will now be purchasing the 2022 CFE Exam Prep Course.



STEP 3: Apply for the CFE Exam online and submit all of your supporting documentation to complete

your application one month before you plan to take the CFE Exam. You will be requested to submit

proof of Education/Qualifications and work experience, a recent photo and three (3) Professional

Recommendations from individuals who have worked with you professionally and can comment on your

character, integrity and professional skills. Allow 5-7 business days for review. Please note that if you are

unable to apply online you may download the CFE Exam application and submit it by mail or email. For

applications sent via fax, mail, or email, allow an additional 7-10 business days for processing in addition

to mail delivery times.

STEP 4: Pass the CFE Exam. The CFE Exam tests your knowledge and expertise in the four primary areas

of fraud examination: Financial Transactions & Fraud Schemes, Law, Investigation, and Fraud Prevention

& Deterrence.



Learn more about the CFE Exam.

Learn About Scheduling Your Exam.

Upon passing the CFE Exam, your application will be reviewed by the Certification Committee. After your

application is approved, you will be a CFE.

05


WHEN WILL I RECEIVE MY CFE CERTIFICATE ONCE I HAVE PASSED THE CFE EXAM?

When you have passed all four sections of the CFE Exam, your CFE exam application, supporting documentation,

exam results and proctoring sessions will be submitted to the Certification Committee of the ACFE for final review.

You will receive notification of your certification status within 3 weeks of passing the CFE Exam. Upon approval,

your CFE certificate will be mailed to you within 6-8 weeks of certification. You will be contacted if additional

information is needed.

THE CFE EXAM FORMAT

To be eligible to take the CFE Exam, in order to earn your CFE designation you will need to be a current member

of the ACFE and have an approved CFE Exam Application on file. You may take the CFE Exam any time during the

year. The CFE Exam is a closed-book and closed-notes exam, contains 500 objective and true/false questions and

is administer online via computer. The CFE Exam is available in electronic download or online format.

Once you start a section of the exam, you must complete it in one sitting, and you are not required to complete

all four sections in one sitting. You have 30 days from receiving your exam key(s) to take all your exam sections

and you must take each exam section withing 24 hours of unlocking it. In fact, ACFE recommends only taking a

section or two at a time. It will take approximately 8 hours to complete the CFE Exam. Each of the four exam

sections has 125 questions and is allocated a maximum of 2 hours and 5 minutes to complete. Once all exam

sections have been completed and submitted for grading, you will receive notification of your exam results, via

email, within 3-5 business days. A passing score of 75% or higher is required on all four sections of the exam for

certification.

NEW! The CFE Exam platform has changed! Read more at the official website of ACFE about the new

requirements and what these changes mean for you.

CFE EXAM CONTENT OUTLINE

The CFE Exam Content Outline describes, for each of the four sections of the exam, which topics are covered and

how much that topic is represented in the exam. What is on the new content outline? The new CFE Exam

Content Outline can be found at CFE Exam Content Outline_2022 Edition.pdf (acfe.com).

ACFE MEMBERSHIP

ACFE Membership is open to individuals of all job functions, industries and levels of experience who are interested

in the prevention, detection, and deterrence of fraud. ACFE mission is to support you by providing access to the

knowledge, resources and training you need to do your job at every stage of your career. More information about

Membership categories and costs can be found at ACFE website at https://www.acfe.com/getting-startedcategories.aspx

06


EXAM PREP COURSE SOFTWARE BY ACFE

The CFE Exam Prep Course Software gives you the flexibility you need to prepare for the CFE Exam on your

schedule. Including the Fraud Examiners Manual and 1,400 study questions and timed practice tests stimulate the

actual CFE Exam experience. CANDIDATES MUST PURCHASE THE CFE EXAM PREP COURSE FROM ACFE INSTITUTE

DIRECTLY. The member price of the CFE Exam Prep Course is $ is $849.60 [approximately €710]. The cost to take

the CFE Exam is $450. If candidates purchase the CFE Exam Prep Course, the cost to take CFE Exam is reduced

from $450 to $350.

IMPORTANT NOTES:





The Prep Course is licensed to only one user. It may not be shared with anyone.

The Prep Course is recommended to all exam applicants. The course, however, is not required.

The Prep Course will be considered complete once all review questions have been answered correctly at

least once and a score of 85% or higher has been achieved on all four practice exams.

Individuals who complete the Prep Course will earn 35 CPE by ACFE. CPE earned prior to earning the CFE

credential is NOT eligible for annual ethics CPE requirement for CFEs.

CPD UNITS | CERTIFICATE OF ATTENDANCE BY THE SCHOOL OF PROFESSIONAL STUDIESA

Candidates attending the CFE course will qualify for CPD units. A Certificate of Attendance will be issued to

participants who attend at least 75% of the professional development training on CFE.

07


PROFILES

Our aim is simple – to maximize your chances of success. Our team of tutors are experts in their fields, highly

experienced, helping students to achieve the best results possible by explaining the technical topics in a

straightforward way, focusing on the key areas for the examination. Their ability to explain complex topics will be

instrumental in preparing you for the exam.

CHRYSTALLA KAZARA (BBA, AIA, ACCA, CFE)

Chrystalla is a holder of a BA in Business Administration, an MBA from CIIM and a Banking Certificate from the

American Bankers Association. She is a Chartered Certified Accountant (ACCA) and a Certified Fraud Examiner

(CFE), member of the Board of Directors and Training Director of ACFE Cyprus and member of ACFE Global. She

is also a member of ICPAC, of the Cyprus Institute of Internal Auditors and of ISACA Cyprus Chapter. She has 20

years of experience in the Banking sector, in two of the largest financial institutions in Cyprus, and has also

experience in the Corporate Services sector. Her expertise mainly focuses on Risk Management, Regulatory

Compliance/AML, Corporate Governance, Internal Audit, Corporate Ethics, Fraud Risk Management and Fraud

Investigations. Currently, she is the Head-Internal Audit Function of a private company, a corporate trainer of

Professional Development courses and an Internal Audit/Fraud Investigations Consultant. Chrystalla has been

teaching the CFE Financial Transactions and Fraud Schemes, Investigation and Fraud Prevention and Deterrence

modules since 2016.

CONSTANTINOU ELENI (LAW DEG., LLM, CFE)

Eleni has earned a Law degree from the University of Thrace and LLM in International Commercial Law from the

University of Leicester. Since 2017, she is a Certified Fraud Examiner and member of the Association of Certified

Fraud Examiners. Over the years, Eleni has delivered a number of presentations and trained people in the areas

of Fraud and Compliance. She has served as Compliance Officer and Money Laundering Reporting Officer for a

Cypriot Investment Firm. Currently holds the position of the Head of the Regulatory Compliance Unit of a banking

institution.

08


CFE - CERTIFIED FRAUD EXAMINER EXAM PREPARATION COURSE

October 2022 – March 2023

Live Online Exam Preparation Course

TUITION FEE

PAYMENT OPTIONS INCLUDE:

1. Employer-supported individuals:

The course is PARTLY FUNDED BY HRDA AUTHORITY WITH THE AMOUNT OF €400 *

2. Self-funded individuals:

€130 OFF EARLY BIRD REGISTRATION DISCOUNT BY 30/09/2022) **

890

IMPORTANT NOTES:

The tuition fees include only tuition and tutors’ exam focus notes.

ACFE Membership, Exam fees & CFE Exam Prep Course ARE NOT included on the price. More

information on related procedures for registration and costs can be found in official ACFE website at

https://www.acfe.com/

* The CFE course is partly funded by HRDA. Enterprises participating with their employees and satisfy HRDA’s

criteria 1 , are entitled to SUBSIDY AMOUNTING TO €400. In order to claim the HRDA subsidy of the program you

need to complete the respective HRDA application form and email it back to us dully completed, signed, and

stamped at SPSNicosia@cycollege.ac.cy before program’s start date. The net tuition fee for eligible companies

will be €490.

1

Delegates meet the participant profile as stated in each training intervention respectively and attend at least

75% of their training’s duration. For the official HRDA directive, please visit here ( https://www.anad.org.cy/)

** Self- funded individuals not eligible for the HRDA subsidy can take advantage of the €130 OFF EARLY BIRD

DISCOUNT on the standard course fee if they pay the down payment of €260.- by September 30, 2022. The net

tuition fee if you claim the Early Bird Registration Discount will be €760.

Self-funded individuals can settle the remaining amount in monthly installments as follows:

PAYMENTS BY INSTALLMENTS

STANDARD TUITION FEE


TUITION FEE WITH EARLY BIRD DISCOUNT

(IF DOWN PAYMENT OF €260 IS SETTLED BY 30.09.2022)


DOWN PAYMENT UPON ENROLMENT 290 260

October 31, 2022 150 125

November 30, 2022 150 125

December 31, 2022 150 125

January 31, 2023 150 125

TOTAL 890 760

09


Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Mo

10

2022 Calendar

Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

Oct

Nov

Dec

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu

2023 Calendar

Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

Jan

FT&FS

FT&FS FT&FS

INV

FP&D

HOLIDAY

INV

9:00-13:00

INV

FP&D

FT&FS

9:00-14:00

FT&FS

FT&FS

INV

FP&D

XMAS

HOLIDAY

FT&FS

9:00-14:00

XMAS

HOLIDAY

XMAS

HOLIDAY

XMAS

HOLIDAY

FT&FS

INV

FP&D

HOLIDAY

FP&D

9:00-13:00

Feb

Mar

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28

LAW

LAW

LAW LAW

9:00-13:00

LAW

HOLIDAY

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

LAW

* All lectures take place between the hrs 6:15pm and 9:15pm, except the FT&FS module which class meetings will be at 6:00pm -9.15pm.

Saturday's lectures are taking place between the hrs 9:00am - 14:00pm. ( includes 2 breaks of 15 min each)

TUTORS

KAZARA CHRYSTALLA

CONSTANTINOU ELENI

TOPIC AREAS

SPS ADMINISTRATION TEAM

DIRECTOR

FT&FS Financial Transactions and Fraud Schemes Michael Michaelides mmichael@cycollege.ac.cy

FP&D Fraud Prevention & Deterrence

CFE COORDINATOR

LAW Law Sophia Papatheodoulou s.papatheodoulou@cycollege.ac.cy

INV Investigation

GENERAL ENQUIRIES

VENUE

NICOSIA CAMPUS

6, Diogenous str.

2404 Engomi, Nicosia

Tel.+357 22713230

Fax.+357 22660257

Myro Savva my.savva@cycollege.ac.cy Email: SPSNicosia@cycollege.ac.cy

Maria Dalmira mdalmira@cycollege.ac.cy Website: http://sps.cycollege.ac.cy

Elena Anastasiou e.anastasiou@cycollege.ac.cy


CFE®

LIVE ONLINE EXAM PREPARATION COURSE | 2022

GET IN CONTACT

N I C O S I A C A M P U S

6, Diogenous Str., Engomi,

P.O. Box: 22006, 1516 Nicosia

TEL +357 22 713230

FAX +357 22 660257

EMAIL SPSNicosia@cycollege.ac.cy

L I M A S S O L C A M P U S

56, Archbishop Makarios III Ave,

P.O. Box 57163, 3313 Limassol

TEL +357 25 867500

FAX +357 25 736427

EMAIL SPSLimassol@cycollege.ac.cy

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