Question 1

How many COSO-FRM practice questions are there?

Accepted Answer

90 questions across 1 version, each with the correct answer and an explanation.

Question 2

Are there free COSO-FRM sample questions?

Accepted Answer

Yes. 8 sample questions are free; 4 are open to everyone and the rest unlock with a free account.

Question 3

What does full access include?

Accepted Answer

Every COSO-FRM question in study, timed and flashcard modes, explanations for each answer, and progress that saves so you can resume.

Question 4

What topics does COSO-FRM cover?

Accepted Answer

Introduction to Fraud Risk Management (14%), Fraud Risk Governance (15%), Fraud Risk Assessment (18%), Fraud Control Activities (18%), Fraud Investigation and Corrective Action (14%), Managing and Monitoring the Fraud Risk Management Program (14%), Leveraging Tools for Fraud Risk Management (7%).

Question 5

What is the COSO Fraud Risk Management Certificate?

Accepted Answer

The COSO Fraud Risk Management Certificate is a professional credential developed by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in partnership with the Association of Certified Fraud Examiners (ACFE). Launched in April 2025, the program provides professionals with the knowledge and skills to implement fraud risk management frameworks based on COSO principles. The certificate is earned by completing seven self-paced lessons and passing each corresponding exam…

Question 6

How much does the COSO Fraud Risk Management Certificate cost?

Accepted Answer

The COSO Fraud Risk Management Certificate Program costs $799 at regular price. ACFE members receive a 20% discount, paying $639.20. The program can be purchased through the ACFE, the Institute of Internal Auditors (IIA), or the Institute of Management Accountants (IMA). A re-enrollment fee of $125 applies if you need additional time or additional exam attempts.

Question 7

Does the COSO Fraud Risk Management Certificate expire?

Accepted Answer

No, the COSO Fraud Risk Management Certificate does not expire. Once you earn the certificate by passing all seven lesson exams, you hold the credential for life. Unlike the Certified Fraud Examiner (CFE) credential, the COSO Fraud Risk Management Certificate does not require maintenance or continuing professional education to maintain.

Question 8

What is the difference between the COSO FRM Certificate and the CFE credential?

Accepted Answer

The COSO Fraud Risk Management Certificate Program focuses specifically on understanding the five principles of fraud risk management and their alignment with COSO frameworks. It is a self-paced certificate program. The Certified Fraud Examiner (CFE) credential, on the other hand, is a comprehensive professional certification that requires meeting specific eligibility requirements and passing a rigorous four-part exam. The CFE covers a broader range of anti-fraud topics and requires ongoing…

Question 9

How many CPE credits does the COSO Fraud Risk Management Certificate provide?

Accepted Answer

The COSO Fraud Risk Management Certificate Program provides 8 NASBA-approved Continuing Professional Education (CPE) credits in the field of Management Services. CPE credits are awarded immediately after passing each individual lesson exam. The program is offered through the QAS Self-Study delivery method.

Question 10

What are the five principles of fraud risk management covered in the program?

Accepted Answer

The five principles of fraud risk management covered in the COSO Fraud Risk Management Certificate Program are: (1) Fraud Risk Governance - establishing a program that demonstrates board and management commitment; (2) Fraud Risk Assessment - performing comprehensive assessments to identify fraud schemes and risks; (3) Fraud Control Activities - selecting and deploying preventive and detective controls; (4) Fraud Investigation and Corrective Action - establishing processes for investigation and…

Question 11

How long do I have to complete the COSO Fraud Risk Management Certificate?

Accepted Answer

You have one year (365 days) from the date of purchase to complete the COSO Fraud Risk Management Certificate Program. After the one-year period, you will no longer have access to the program or its lessons. If you have not completed the program within this timeframe, you can re-enroll by contacting ACFE Member Services and paying a $125 re-enrollment fee, which grants an additional year of access.

Question 12

What happens if I fail a lesson exam in the COSO FRM Certificate Program?

Accepted Answer

Each of the seven lesson exams allows three attempts to achieve a passing score of 70% or higher. If you do not pass one or more exams after three attempts, you may re-enroll by contacting ACFE Member Services and paying a $125 Certificate Program Re-Enrollment Fee. Once paid, any exam you had not previously passed will be reset to allow three additional attempts.

Question 13

What is the Fraud Risk Management Guide, Second Edition (FRMG)?

Accepted Answer

The Fraud Risk Management Guide, Second Edition is the foundational document for the COSO Fraud Risk Management Certificate Program. Originally published in 2016 and updated in 2023, it was developed by COSO and the ACFE to provide organizations with a comprehensive blueprint for establishing a fraud risk management program. The Guide outlines five key principles, includes practical examples, expanded coverage of data analytics, and addresses emerging fraud risks such as cyber fraud,…

Question 14

Who should pursue the COSO Fraud Risk Management Certificate?

Accepted Answer

The COSO Fraud Risk Management Certificate is ideal for internal and external auditors assessing fraud risk, consultants providing fraud advisory services, compliance officers, board members overseeing risk management, and any professional involved in designing, implementing, or monitoring fraud risk management programs. It is particularly valuable for organizations looking to benchmark or enhance their existing fraud risk management practices against globally recognized COSO standards.

COSO-FRMCOSO Fraud Risk Management Certificate Program practice test

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COSO-FRM, by the numbers.

Everything about COSO-FRM.

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What COSO-FRM covers

How do I earn this certification?

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COSO-FRM questions, answered

COSO-FRMCOSO Fraud Risk Management Certificate Program practice test

Full access

Practice COSO-FRM in the simulator.

COSO-FRM, by the numbers.

Everything about COSO-FRM.

Exam information

01Exam format7 lesson exams (one per lesson) · 70%3

02Registration$799 · Online (Self-Study)3

03ValidityLifetime - does not expire1

04In our question bankv1 (90)

What COSO-FRM covers

01Introduction to Fraud Risk Management14%4 topics

1.1The Ever-Present Risk of Fraud and Its CostsUnderstand the practical definition of fraud used in the FRMG5 obj.

1.2The COSO Framework FoundationsCompare the principles of fraud risk management with the COSO 2013 Internal Control Framework and the COSO 2017 Enterprise Risk Management Framework5 obj.

1.3The Five Principles of Fraud Risk ManagementIdentify the five principles of fraud risk management in the FRMG4 obj.

1.4Fraud Risk Management Roles and ResponsibilitiesIdentify roles and responsibilities of key stakeholders in fraud risk management3 obj.

Hands-on skills & common mistakesMapping FRM principles to COSO framework components · Confusing fraud risk management with internal control alone

02Fraud Risk Governance15%2 topics

03Fraud Risk Assessment18%2 topics

04Fraud Control Activities18%1 topic

05Fraud Investigation and Corrective Action14%1 topic

06Managing and Monitoring the Fraud Risk Management Program14%1 topic

07Leveraging Tools for Fraud Risk Management7%2 topics