CFE is a globally accepted certification examination for fraud prevention and detection professionals. In this article, the focus will be on the changes done to the CFE Exams Fees and retakes policy.

CFE Exam Fees Update :

The revision in fees is the CFE examination fee which was formally $450, has now increased to $475 with the addition of local country taxes like18% GST for the Indians. This increase follows ACFE's new pricing policy, so it is important for candidates to register for the CFE examination only after they understand all the envisaged expenses. Candidates needing to pass retake tests must think ahead and adjust their financial expectations to avoid unforeseen monetary burdens. During the registration period, test applicants should ensure they receive the assistance they need so there are no errors that will interfere with their ability to schedule the examination they need.

CFE Exam Retake Policy :

The spacing and difficulty in the retake policy has been modified. Candidates now have more opportunities to pass the exam, but there is a structured waiting period set in place. Any attempt to pass a failed section will now incur a fee of $110 which earlier was $100.

Retake Fees and Number of Attempts Allowed :

Now, each section can be attempted five times and prepped for an unlimited number of times. Candidates have up to two attempts and three chances to pass each section, but with five attempts available candidates should have greater chances of improvement. Now the new strategy comes with careful planning in order to not run out of attempts too early, while also ensuring the desired score is achieved.

Retake Eligibility and Waiting Periods :

Candidates must be aware of the waiting period associated with retaking the exam. For the first and second retake attempts, candidates can retake the exam the very next day after failing. This allows for the immediate correction of errors and revision in the shortest time possible. Unfortunately, for attempts three and four, candidates are required to wait 30 days between each attempt.

In other words, after failing the third attempt, a candidate would have to wait a month to take the fourth attempt. If they happen to flop the fourth attempt, they are required to wait another month before trying for the final fifth attempt. These enforced waiting periods have been put in place in order to motivate the candidates to devote more time to preparing their final attempts instead of wasting their time failing repeatedly.

Detailed Breakdown of Retake Policy :

Other Important CFE Exam Policies :

1. Retake Exam Keys :

Following the payment of the retake fee, candidates should expect to receive their retake exam keys through email within 3 to 5 business days. There are additional parts of the exam which may only be accessed using the relevant exam keys and therefore must be safeguarded. Candidates should check their registered email on a frequent basis to make sure they timely receive the exam keys. In the event that no email was received within the required timeframe, then the candidates should reach out to ACFE support for help.

2. Pass/Fail Criteria :

CFE exam has a passing and failing format. A candidate is deemed to pass if he or she achieves 75% or higher in each of the four components. In other words, a candidate may do very well in three sections, but if they do poorly in one section, they will need to retake that section until they get the required score. The candidate should also prepare all sections equally to avoid unnecessary retests.

3. Notification of Results :

Within 3 to 5 business days after the examination, the ACFE informs candidates of their exam results. This information will allow candidates to prepare for their next moves, be it taking a retest or going on with certification, which makes the reasoning quite clear in regard to the such swift timeline.

4. Application Validity :

It’s only 2 years after submission that CFE exam applications expire for candidates. This period will let them complete all necessary steps of certification. Should candidates require an additional year, they can pay an extension fee to get a year longer. Candidates should be careful with application validity and ensure they complete all exam requirements within the timeframe allowed to avoid paying extras.

5. Exam Scheduling and Format :

Each section of the CFE exam must be booked individually. The candidate has the option of taking the exam from home or at a Prometric Testing Center. This policy is helpful for candidates by giving them flexibility in term of how they do the exam, whether at home or at the center. If a remote exam is selected, candidates should have a good internet connection and should be in a location where there are no interruptions.

6. Rescheduling and Cancellation Fees :

There may be associated fees with changing or canceling the exam appointment, which is dependent on when the change is made. Candidates are encouraged to read ACFE’s terms of rescheduling their exams very well if they want to change the date of the exam. In particular, if candidates withdraw at short notice, it can incur costs, so they should exercise caution in planning their exam.

Final Thoughts :

The new regulations for CFE exam costs and retakes grant robust flexibility and promote a disciplined method towards failing sections. The generous increase on attempts together with changed waiting time improves the chances of success. However, one still needs to effectively prepare in order to pass the CFE exam on the first try. In this AIA helps everyone with their CFE prep course , we have a 99.9% passing rate. Candidates need to be worked and strategized concerning their learning schedule and resources to ensure that they achieve the desired results.

Remember to constantly check for new changes in policies and prepare in a manner that helps mitigate the impact of retake costs and wait times. For candidates seeking to boost their foundational knowledge prior to taking the exam, an investment in a quality CFE prep course would prove beneficial. All those that aspire to call themselves Certified Fraud Examiners , I wish you good luck!

Watch our YouTube video to learn about these changes in detail: https://youtu.be/Gfg0vRJcNPE