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Key Facts: CAFCA Exam
100
Practice Questions
OpenExamPrep CAFCA
3 hours
Exam Time
Pearson VUE
Scaled
Cut Score
Set by ACAMS
~$1,200-1,500
Exam Fee
ACAMS member discount
8 domains
Content Areas
FinTech AFC to ACAMS Ethics
80-120 hrs
Recommended Study
8-12 weeks
CAFCA is ACAMS's FinTech-focused AML credential, delivered as a 100-question Pearson VUE exam over approximately 3 hours, with a scaled cut score set by ACAMS and a typical fee of about $1,200-$1,500 (ACAMS member discount). The credential is built for compliance staff at neo-banks, payment processors, BNPL lenders, digital wallets, embedded-finance/BaaS programs, and crypto VASPs. Coverage includes BaaS supervisory expectations, eKYC and biometric onboarding, FATF Recommendations 15-16 for virtual assets, OFAC's 50% Rule, MiCA, AMLA 2020 and the EU AML package, and emerging mule, deepfake, and generative-AI threats.
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 a specialty credential designed for AML and financial-crime compliance professionals working in fast-paced FinTech environments — challenger banks, payment processors, BNPL providers, digital wallets, embedded finance, Banking-as-a-Service (BaaS), and crypto / VASPs. It validates practical knowledge of FinTech business models and their distinctive AFC risks, digital onboarding and eKYC, crypto and VASP compliance (FATF Travel Rule, mixers, DeFi), real-time sanctions screening, transaction monitoring at FinTech scale (rules vs. AI/ML, model risk), the global regulatory landscape, emerging risks (BIN attacks, account takeover, mule networks, deepfakes), and the ACAMS Code of Ethics.
Exam sponsor: ACAMS. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.
Questions
100 questions
Time Limit
3 hours (Pearson VUE)
Passing Score
Scaled cut score by ACAMS
Reported 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.
FinTech Business Models & AFC Risk
Challenger / neo-banks (Chime, Revolut, N26, Monzo), payment processors (Stripe, Adyen, Square), BNPL (Klarna, Afterpay, Affirm), embedded finance / Banking-as-a-Service (BaaS), digital wallets (Cash App, Venmo), P2P lending (LendingClub, Prosper), and the FDIC/OCC enforcement pattern against BaaS sponsor banks (Lineage, Cross River, Choice) for inadequate CDD on FinTech partners' end customers
FinTech-Specific Customer Risk
Digital onboarding, eKYC, biometric face match and liveness detection, NFC chip read of e-passports, OCR and hologram detection, behavioral biometrics, device fingerprinting, geolocation/IP intelligence, synthetic identity fraud, FinCEN CDD Rule 25% beneficial ownership and control prong, PATRIOT Act §326 CIP elements, vendor management of identity providers
Crypto & VASP Compliance
VASP classification as MSB money transmitters under FinCEN, FATF Recommendations 15 and 16 (Travel Rule with $1,000/EUR 1,000 de minimis), OFAC actions on Tornado Cash (2022 designation and 2024-2025 reissue/litigation), mixers, DeFi and 'sufficient control,' counterparty (sunrise) due diligence, NY DFS BitLicense, MiCA crypto-asset service providers (CASPs), stablecoins, blockchain analytics
Sanctions Screening in FinTech
OFAC SDN List, OFAC 50% Rule for aggregate ownership, sectoral and comprehensive programs (Iran ITSR, Russia RuHSR), real-time vs. batch screening trade-offs, fuzzy matching (Levenshtein, Jaro-Winkler), phonetic algorithms (Soundex, Metaphone), PEP screening (FATF definition: prominent public functions plus immediate family and close associates), governed whitelists and effectiveness metrics
Transaction Monitoring at Scale
Rules-based vs. AI/ML hybrid detection at FinTech velocity, alert quality and SAR-conversion KPIs, look-back reviews, champion/challenger model testing, model risk management under Federal Reserve / OCC SR 11-7, mule pass-through patterns on P2P apps, AI assistants for analyst augmentation under human-in-the-loop governance
Regulatory Landscape
FinCEN as Treasury bureau, BSA, AMLA 2020 (Division F of NDAA FY2021), Corporate Transparency Act and the 2025 interim final rule narrowing BOI reporting, EU AMLD6 plus the AML package (AMLR, AMLAR establishing Frankfurt-based AMLA), UK FCA authorization of EMIs and payment institutions under PSD2-derived rules, Singapore MAS Notice 626, Hong Kong AMLO, FinCEN 314(a)/(b), Geographic Targeting Orders
Emerging Risks
BIN attacks (low-value authorization probing across sequential card numbers), account takeover via SIM swap and credential stuffing, mule networks recruited via social media and gaming platforms, deepfake / face-swap attacks against onboarding selfie + liveness, generative AI for synthetic identity creation and voice-clone fraud, pig-butchering crypto investment scams, kill-switch and incident-response patterns
ACAMS Ethics & Continuous Learning
ACAMS Code of Ethics — integrity, objectivity, professional competence, confidentiality, conflict-of-interest disclosure — BSA Officer independence and AMLA 2020 whistleblower protections, anti-tipping-off (31 USC §5318(g)), board reporting on outcomes and emerging risks, continuing education for recertification
Preparing for the CAFCA Exam
What You Need to Know
- Passing score: Scaled cut score by ACAMS
- Exam length: 100 questions
- Time limit: 3 hours (Pearson VUE)
- Exam / certification fees: ~$1,200-1,500 (ACAMS member discount) 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 specialty credential for AML / financial-crime compliance professionals working at challenger banks, payment processors, BNPL lenders, digital wallets, embedded-finance / BaaS programs, and crypto VASPs. It complements the broader CAMS credential and the related CTMA, CCAS, and CKYCA specialty exams.
How is the CAFCA exam structured?
The CAFCA exam is delivered at Pearson VUE test centers with approximately 100 multiple-choice questions over about 3 hours. ACAMS sets a scaled cut score rather than publishing a fixed percentage. A practice exam and study materials are included in the standard ACAMS package.
How much does the CAFCA exam cost?
Typical CAFCA pricing is approximately $1,200-$1,500 with the ACAMS member discount; non-member pricing is higher. Fees may include study materials and a practice exam depending on the package selected. Many FinTech employers reimburse the cost for compliance staff.
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 senior, broad AML credential. CTMA focuses on transaction-monitoring practitioners. CCAS focuses on crypto-asset financial crime. CAFCA is the FinTech-business-model focused credential — covering BaaS supervisory expectations, eKYC and biometrics, crypto and VASP fundamentals, real-time sanctions and TM at FinTech scale, and emerging risks like deepfake and mule networks. Many compliance officers stack CAMS plus one or more specialty credentials.
How should I prepare for the CAFCA exam?
Plan for approximately 80-120 hours over 8-12 weeks. Study the FinCEN BSA framework (CIP, CDD Rule, SARs, CTRs, Travel Rule), the FATF Recommendations especially R.10/15/16/22-23, OFAC sanctions including the 50% Rule, AMLA 2020 and the Corporate Transparency Act, the EU AML package and MiCA, UK FCA / Singapore MAS / Hong Kong AMLO basics, and SR 11-7 model risk management. Use this 100-question free practice set to drill weak areas, then complete ACAMS practice exams before sitting.