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Question 1

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Which body issues the Cr.FA (CRFAC) credential?

AICPA

ACFE

American Board of Forensic Accounting (ABFA)

NACVA

to track

2026 Statistics

Key Facts: Cr.FA Exam

5 sections

Exam Structure

ABFA

70%

Pass Per Section

ABFA

$585

Exam Fee

ABFA certification fee

CPA required

Eligibility

Active licensed CPA

2 years

Experience Minimum

Accounting/auditing

3 years

Renewal Cycle

ABFA CPE + membership

The ABFA Cr.FA (CRFAC) is a 5-section written certification exam requiring 70% on each section. Candidates must be active CPAs with 2+ years of accounting/auditing experience, complete the Forensic Accounting Review course, and maintain ABFA general membership. Exam fee is $585; first-year ABFA membership is $165 and the review course is $695 for members. Credential is renewed every 3 years via CPE and ongoing membership.

Sample Cr.FA Practice Questions

Try these sample questions to test your Cr.FA exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which body issues the Cr.FA (CRFAC) credential?

A.AICPA

B.ACFE

C.American Board of Forensic Accounting (ABFA)

D.NACVA

Explanation: The Certified Forensic Accountant (Cr.FA / CRFAC) credential is issued by the American Board of Forensic Accounting (ABFA). It is restricted to actively licensed CPAs with qualifying experience, and requires completion of the ABFA Forensic Accounting Review course and a $585 exam fee.

2Which of the following is a prerequisite for the Cr.FA exam?

A.Active CPA license

B.Bachelor's degree in any field

C.A law degree

D.FINRA Series 7

Explanation: ABFA restricts the Cr.FA (CRFAC) credential to actively licensed CPAs. The CPA licensure requirement distinguishes Cr.FA from broader fraud credentials (such as CFE) that are open to non-CPAs.

3How many sections does the Cr.FA exam contain?

A.Three

B.Four

C.Five

D.Six

Explanation: The Cr.FA exam contains five sections: Practice and Theory, Fraud, Litigation, Valuations, and Digital Forensics. Each section must be passed with a score of 70% or higher.

4What is the minimum passing score for each Cr.FA section?

A.60%

B.65%

C.70%

D.75%

Explanation: ABFA requires a minimum score of 70% on each of the five Cr.FA exam sections. Candidates failing a section may retake failed sections per ABFA retake rules.

5Under GAAS, the auditor's reasonable assurance is that financial statements are:

A.Absolutely free of misstatement

B.Free of material misstatement, whether caused by fraud or error

C.Free of any fraud

D.Guaranteed accurate

Explanation: GAAS and AU-C 200 require the auditor to plan and perform the audit to obtain reasonable assurance that financial statements are free of material misstatement, whether caused by fraud or error. Reasonable assurance is a high, but not absolute, level.

6Under the ACFE Fraud Tree, which category is generally the most COMMON but has the smallest median loss?

A.Asset misappropriation

B.Corruption

C.Financial statement fraud

D.Check tampering only

Explanation: Asset misappropriation is the most common occupational fraud category by frequency but has the smallest median loss. Financial statement fraud is rarest but costliest. Corruption falls between the two on both dimensions per ACFE Report to the Nations data.

7Which element is NOT part of the fraud triangle?

A.Pressure

B.Opportunity

C.Rationalization

D.Capability

Explanation: The classic fraud triangle consists of pressure, opportunity, and rationalization. Capability was added by Wolfe and Hermanson in the expanded 'fraud diamond' model but is not part of the original triangle.

8Which Federal Rule of Evidence governs the admissibility of expert testimony?

A.FRE 401

B.FRE 702

C.FRE 801

D.FRE 1006

Explanation: FRE 702 governs expert testimony. Amended in 2000 to codify Daubert, it requires qualified experts to rely on sufficient facts and data, use reliable methods, and reliably apply them to the facts.

9The Daubert trilogy of cases includes:

A.Daubert, Kumho Tire, and Joiner

B.Daubert, Frye, and Brown

C.Daubert, Miranda, and Brady

D.Daubert, Kumho Tire, and Miranda

Explanation: The Daubert 'trilogy' is Daubert v. Merrell Dow (1993) establishing the gatekeeping standard, General Electric Co. v. Joiner (1997) establishing abuse-of-discretion review, and Kumho Tire Co. v. Carmichael (1999) extending Daubert to all expert testimony.

10A discount for lack of marketability (DLOM) is most commonly applied to:

A.Publicly traded large-cap stocks

B.Non-controlling interests in closely-held companies

C.Treasury securities

D.Money-market funds

Explanation: A discount for lack of marketability (DLOM) reflects the reduction in value due to an interest's inability to be readily converted to cash without significant cost or delay. It is commonly applied to closely-held company interests. Publicly traded large-caps, Treasury securities, and money markets are highly liquid.

About the Cr.FA Exam

The Certified Forensic Accountant (Cr.FA, formally CRFAC) credential, issued by the American Board of Forensic Accounting (ABFA), is reserved for licensed CPAs with forensic accounting experience. The exam has five sections: Practice and Theory, Fraud, Litigation, Valuations, and Digital Forensics. Candidates must hold an active CPA license, document at least 2 years of qualifying experience, join ABFA as a member, and complete the Forensic Accounting Review course prior to sitting.

Questions

150 scored questions

Time Limit

Section-based written exam (~5-6 hours total)

Passing Score

70% per section

Exam Fee

$585 (American Board of Forensic Accounting (ABFA))

Cr.FA Exam Content Outline

20%

Practice and Theory

GAAS, GAAP, IFAC International Standards on Auditing, AICPA SSFS No. 1, attest vs compilation engagements, professional skepticism, forensic accounting vs traditional auditing, the ABFA Code of Ethics and professional responsibilities

20%

Fraud

ACFE fraud taxonomy (asset misappropriation, corruption, financial statement fraud), fraud triangle (pressure/opportunity/rationalization), SAS 99/AU-C 240 fraud risk factors, financial statement fraud schemes (revenue recognition, bill-and-hold, channel stuffing, reserve manipulation), internal control assessment

20%

Litigation

Federal Rules of Evidence (401, 402, 403, 702, 703, 705, 801-807), Daubert/Kumho/Joiner trilogy and gatekeeping, expert witness vs consulting expert, FRCP Rule 26 reports, deposition and direct/cross-examination, attorney-client privilege, work product doctrine

20%

Valuations

Business valuation approaches (income, market, asset), discounts (DLOM, DLOC), control premium, standards of value (FMV, fair value, investment value, intrinsic value), damage quantification (direct, consequential, punitive), mitigation, pre/post-judgment interest, tax treatment

20%

Digital Forensics

Digital evidence identification, preservation, collection and analysis; chain of custody; e-discovery and FRCP; email forensics; data analytics (Benford's Law, trend analysis); anti-forensics awareness; reporting digital findings for litigation

How to Pass the Cr.FA Exam

What You Need to Know

Passing score: 70% per section
Exam length: 150 questions
Time limit: Section-based written exam (~5-6 hours total)
Exam fee: $585

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

Cr.FA Study Tips from Top Performers

1Memorize Federal Rules of Evidence 702, 703, and 705 — these drive nearly every Litigation section question

2Know the five ABFA exam sections and weights — each is ~20% of total

3Master the ACFE Fraud Tree taxonomy before tackling the Fraud section

4Understand COSO 2013 Internal Control Framework components and how they map to SOX 404

5Practice applying tracing methods — net worth, expenditure, bank deposits — to hypothetical scenarios

6Review business valuation discounts (DLOM, DLOC) and standards of value (FMV, fair value, investment, intrinsic)

7Learn the digital forensics order of volatility and chain-of-custody requirements

8Take the ABFA Forensic Accounting Review course — it's required for sitting and aligns exactly with the exam

Frequently Asked Questions

Who is eligible for the ABFA Cr.FA credential?

Only actively licensed CPAs may pursue the Cr.FA. Candidates must demonstrate at least 2 years of qualifying accounting or auditing experience (via ABFA's scoring matrix), join ABFA as a general member (first-year U.S. fee $165), complete the Forensic Accounting Review course ($695 members/$795 nonmembers), and pay the $585 certification exam fee.

How is the Cr.FA exam structured?

The exam is administered in five sections: Practice and Theory, Fraud, Litigation, Valuations, and Digital Forensics. Candidates must score 70% or higher on each section to pass. Sections may be taken in a single sitting or separately; ABFA issues specific scheduling instructions after application approval.

How is Cr.FA different from AICPA CFF?

Both require CPA licensure, but they are issued by different bodies with different frameworks. CFF is an AICPA credential governed by SSFS No. 1 and focuses on fundamental and specialized forensic knowledge. Cr.FA is an ABFA credential with five equally weighted sections and an explicit Digital Forensics section. ABFA also offers related credentials like Cr.FA Master's and Certified Forensic Auditor.

How long should I study for the Cr.FA exam?

Plan for 80-120 hours spread over 2-3 months. Start with the ABFA Forensic Accounting Review course (required), then study the Federal Rules of Evidence, Daubert/Kumho/Joiner, fraud taxonomies, and business valuation fundamentals. Review ACFE materials for the Fraud section and NACVA materials for Valuations. Complete 100+ practice questions and aim for 80%+ before sitting.

How do I maintain the Cr.FA credential?

Cr.FA credential holders must maintain active CPA licensure and ABFA general membership, and must meet ongoing CPE requirements (typically 20+ hours of forensic-related CPE annually). The credential is renewed every 3 years. Failure to meet CPE or ethics requirements can result in credential suspension.

What does FRE 702 require for expert testimony?

Federal Rule of Evidence 702, as amended, allows a qualified expert to testify if (a) the expert's knowledge helps the trier of fact, (b) the testimony is based on sufficient facts or data, (c) it is the product of reliable principles and methods, and (d) the expert has reliably applied those principles and methods to the facts. Daubert, Kumho Tire, and Joiner refine this gatekeeping function.