Free Practice Questions for CAFCA
Exam-style questions and explanations by OpenExamPrep.
Loading practice questions...
Explore More ACAMS Financial Crime Certifications
Continue into nearby exams from the same family. Each card keeps practice questions, study guides, flashcards, videos, and articles in one place.
Free CEMore From This Family
Videos and articles for deeper review.
Key Facts: CAFCA Exam
120
Practice Questions
OpenExamPrep CAFCA
90 minutes
Exam Time
ACAMS
70%
Passing Score
Of scored questions (ACAMS)
US$1,045
Exam Package
Private sector; membership extra
5 domains
Content Areas
ACAMS CAFCA Candidate Handbook
30-50 hrs
Recommended Study
4-6 weeks
CAFCA is ACAMS's associate-level FinTech AML credential. The exam has 60 multiple-choice questions (some unscored) in 90 minutes, at a Pearson VUE test centre or online. Candidates pass by answering 70% of scored questions correctly. The standard private-sector package costs US$1,045, and ACAMS membership is required. Five domains are tested: governance (20%), due diligence (20%), payment screening and monitoring (25%), investigations and reporting (20%), and scaling AFC strategies (15%).
Sample CAFCA Practice Questions
Try these sample questions to review concepts for the CAFCA exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 120+ question experience with AI tutoring.
1A challenger bank like Chime, Revolut, or N26 typically operates without a physical branch network. Which AFC risk is MOST elevated by this digital-only model?
2Under the Banking-as-a-Service (BaaS) model, who holds ultimate BSA/AML responsibility for monitoring transactions of a FinTech's end customers?
3In 2024 the FDIC issued a consent order against a small partner bank (e.g., Lineage Bank, Choice Bank) for AML/BSA failures tied to its FinTech program. What was the PRIMARY supervisory finding?
4A Buy Now Pay Later (BNPL) provider such as Klarna, Afterpay, or Affirm offers split-pay installments at point of sale. Which AFC risk is MOST distinctive to the BNPL model versus traditional credit cards?
5A payment processor (e.g., Stripe, Adyen, Square) acquires merchants and routes card transactions. Under FinCEN guidance, when does a payment processor itself become a Money Services Business (MSB)?
6Embedded finance lets a non-financial brand (e.g., a ride-share app) offer banking through a BaaS partner. Which CDD risk is MOST elevated when the end-user opens an account inside a non-financial app?
7Which is the BEST description of a digital wallet (e.g., Cash App, Venmo, Apple Cash)?
8A peer-to-peer lending FinTech (LendingClub, Prosper) connects retail investors and borrowers. Which AFC concern is MOST acute in this model?
9Which statement BEST captures why FinTech partner-bank ownership chains (the FinTech, its program manager, multiple BIN sponsors, and processors) raise AFC risk?
10A neo-bank advertises 'open an account in 90 seconds.' From an AFC perspective, what is the MOST important compensating control for such speed?
About the CAFCA Exam
The ACAMS Certified AML FinTech Compliance Associate (CAFCA) is an associate-level credential for anti-financial crime staff at FinTechs such as neobanks, payment processors, BNPL lenders, digital wallets, BaaS programmes and crypto platforms. ACAMS launched it with FINTRAIL in December 2020. The exam covers five domains: governance, guidance and regulation; due diligence across customer types; payment screening and transaction monitoring; investigations, inquiries and reporting; and scaling anti-financial crime strategies.
Exam sponsor: ACAMS. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.
Questions
60 questions
Time Limit
90 minutes (Pearson VUE test centre or OnVUE online)
Passing Score
70% of scored questions
Exam / Certification Fees
US$1,045 package (private sector) plus required ACAMS membership
Exam sponsor websiteReported exam pass rate: Not publicly disclosed. ACAMS does not publish official pass rates Exam sponsor website
Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.
Our practice resources: topics covered
We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.
Governance, Guidance, and Regulation
FinTech types and vulnerabilities, financial crime types, licensing and sandboxes, risk management framework, data privacy, risk-based approach, sources of guidance, bank partner relationships, insider threat, and risk types
Due Diligence Across Customer Types
CIP, KYC, eKYC, CDD and EDD; identity verification; data sources and their reliability; device data; sanctions, PEP and fraud screening at onboarding; customer risk ratings; onboarding fraud red flags
Payment Screening and Transaction Monitoring
Purpose of monitoring, payment screening, red flags, payment methods including crypto, alert investigation, audit trails, transaction risk characteristics, monitoring systems and thresholds, and KPIs and OKRs
Investigations, Inquiries, and Reporting
Customer communication and tipping off, evidence review, analytical bias, SARs and STRs, working with law enforcement, bank partners and regulators, law enforcement requests, and bank partner terms of service
Scaling Anti-Financial Crime Strategies
New product and feature risk assessment, refreshing the risk assessment as the business grows, triggers for review, record retention and data storage, and outsourcing, RegTech and independent testing
Preparing for the CAFCA Exam
What You Need to Know
- Passing score: 70% of scored questions
- Exam length: 60 questions
- Time limit: 90 minutes (Pearson VUE test centre or OnVUE online)
- Exam / certification fees: US$1,045 package (private sector) plus required ACAMS membership Official sources
Using Our Practice Resources
- Work through all 120 available questions
- Review every answer and explanation
- Track weak areas and revisit them
- Use our AI tutor for tough concepts
CAFCA: Suggested Study Strategy
Frequently Asked Questions
What is the CAFCA credential?
CAFCA (Certified AML FinTech Compliance Associate) is an ACAMS associate-level credential for anti-financial crime staff at neobanks, payment processors, BNPL lenders, digital wallets, BaaS programmes and crypto platforms. It sits alongside the broader CAMS credential and the CTMA, CKYCA and CCAS credentials.
How is the CAFCA exam structured?
The exam has 60 multiple-choice questions, some unscored, in 90 minutes. It is delivered at Pearson VUE test centres or through OnVUE online proctoring. Candidates pass with at least 70% of scored questions correct, and there is no penalty for guessing. The standard package includes an 8-hour digital course and a practice exam.
How much does the CAFCA exam cost?
The standard private-sector CAFCA package costs US$1,045. ACAMS membership is also required (US$375 private sector or US$245 public sector). A retake costs US$199 after a 30-day wait. Recertification is free each year with active membership and 2 credits.
Who should take the CAFCA exam?
CAFCA is well-suited to AML and financial-crime compliance staff at neo-banks (Chime, Revolut, N26), payment processors (Stripe, Adyen, Square), BNPL lenders (Klarna, Afterpay, Affirm), digital wallets (Cash App, Venmo), embedded-finance and BaaS programs, and crypto exchanges and custodians (VASPs/CASPs). It is also useful for product, risk, audit, and engineering partners working closely with compliance.
How is CAFCA different from CAMS, CTMA, and CCAS?
CAMS is ACAMS's broad AML specialist credential. CTMA focuses on transaction monitoring, CKYCA on KYC, and CCAS on crypto-asset financial crime. CAFCA covers the FinTech business model end to end: governance and partner banks, onboarding due diligence, payment screening and monitoring, investigations and SARs, and scaling controls as the firm grows.
How should I prepare for the CAFCA exam?
Plan for about 30-50 hours over 4-6 weeks. Work through the five domains in order and spend the most time on payment screening and transaction monitoring (25%). Learn CIP and the CDD Rule, OFAC screening and the 50% Rule, SAR deadlines and thresholds, tipping-off limits, 314(a) and 314(b), and record-retention periods. Then use the 120 free practice questions and the ACAMS practice exam.