100+ Free FA FX Professional Practice Questions

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Sample FA FX Professional Practice Questions

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

1Under SAMA Rules Regulating Money Changing Business, what is the minimum paid-up capital for a money exchange center licensed only to purchase, sell, and trade foreign currencies inside the Kingdom?

A.SAR 2,000,000

B.SAR 1,000,000

C.SAR 7,000,000

D.SAR 10,000,000

Explanation: Paid-up capital must not be lower than SAR 2,000,000 for the basic FX purchase/sale/trading license inside the Kingdom.

2What minimum paid-up capital applies to a money exchange center licensed to import and export cash?

A.SAR 2,000,000

B.SAR 7,000,000

C.SAR 5,000,000

D.SAR 10,000,000

Explanation: Centers licensed to import and export cash must maintain paid-up capital of at least SAR 7,000,000.

3A money exchange center licensed for money transfer inside and outside the Kingdom must maintain at all times a minimum cash reserve equal to what percentage of its capital?

A.3%

B.5%

C.10%

D.15%

Explanation: Money exchange centers licensed to conduct money transfer activity must maintain a minimum cash reserve of 10% of capital, deposited with a licensed bank at SAMA’s disposal.

4A basic FX money changer has paid-up capital of SAR 2,000,000 and is not licensed for money transfer. What minimum cash reserve must it keep deposited with a licensed bank?

A.SAR 50,000

B.SAR 400,000

C.SAR 200,000

D.SAR 100,000

Explanation: The reserve is 5% of capital for non-transfer licenses: 0.05 × 2,000,000 = SAR 100,000.

5Under the capital rules, the total value of a money exchange center’s assets must not exceed what multiple of its capital?

A.Ten times the capital

B.Seven times the capital

C.Five times the capital

D.Twenty times the capital

Explanation: Total assets must not exceed ten times the capital, unless SAMA amends the limit.

6What is the SAMA license issuance fee for purchasing, selling, and trading foreign currencies inside the Kingdom only?

A.SAR 5,000

B.SAR 20,000

C.SAR 10,000

D.SAR 35,000

Explanation: Issuing a license limited to purchasing, selling, and trading foreign currencies inside the Kingdom costs SAR 20,000.

7What renewal fee does SAMA collect for a license to conduct money transfer activity inside or outside the Kingdom?

A.SAR 5,000

B.SAR 10,000

C.SAR 40,000

D.SAR 20,000

Explanation: Renewal of a money-transfer license costs SAR 40,000.

8For how long is a money exchange license valid at maximum before renewal?

A.One year

B.Three years

C.Ten years

D.Five years

Explanation: The license is valid for a maximum of five years and may be renewed for a similar period or another period specified by SAMA.

9A money exchange center’s accumulated losses reach 50% or more of its capital. What may SAMA do?

A.Terminate (revoke) the license for failing business requirements

B.Automatically convert the center into a commercial bank

C.Only require a public apology

D.Raise the capital floor to SAR 50 million automatically

Explanation: SAMA may terminate the license if accumulated losses reach 50% or more of capital, among other failure-to-fulfill business-requirement grounds.

10A transfer-licensed center has capital of SAR 10,000,000. What is its minimum cash reserve, and what is the maximum total assets allowed under the ten-times rule?

A.Reserve SAR 500,000; assets max SAR 50,000,000

B.Reserve SAR 1,000,000; assets max SAR 100,000,000

C.Reserve SAR 1,000,000; assets max SAR 50,000,000

D.Reserve SAR 2,000,000; assets max SAR 100,000,000

Explanation: Transfer licenses require a 10% reserve: 0.10 × 10,000,000 = SAR 1,000,000. Assets may not exceed 10 × capital = SAR 100,000,000.

About the FA FX Professional Exam

The Foreign Exchange Professional Exam (also titled Money Exchange and Transfer Professional Exam in FA curricula) is a SAMA-mandatory Financial Academy assessment for exchange and remittance staff. It covers center structure, customer service, FX/transfer products, compliance/governance, fraud, AML/CTF and labor/conduct rules.

Assessment

100 multiple-choice questions across 7 official FA curriculum chapters (weights 10/20/10/15/17/20/8).

Time Limit

120 minutes.

Passing Score

70%

Exam Fee

SAR 1,000 through the Financial Academy. (Financial Academy under Saudi Central Bank (SAMA) mandatory professional-certificate requirements)

FA FX Professional Exam Content Outline

10%

Exchange Center Structure

Licensing and structure of money exchange/transfer centers.

20%

Customer Service

Effective customer service in exchange centers.

10%

Products and Services

FX and money-transfer products and rules.

15%

Compliance and Governance

Compliance function and governance controls.

17%

Fraud

Fraud risks affecting exchange operations.

20%

AML/CTF

AML/CTF frameworks for exchange centers.

Labor Rules and Practices

Professional conduct and labor rules.

How to Pass the FA FX Professional Exam

What You Need to Know

Passing score: 70%
Assessment: 100 multiple-choice questions across 7 official FA curriculum chapters (weights 10/20/10/15/17/20/8).
Time limit: 120 minutes.
Exam fee: SAR 1,000 through the Financial Academy.

Keys to Passing

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

Frequently Asked Questions

What is the official English name of this exam?

The Financial Academy lists it as the Foreign Exchange Professional Exam (Third Edition). The official curriculum is titled Money Exchange and Transfer.

What is the passing score and duration?

FA exam details list a 70% passing score and 120-minute duration for 100 multiple-choice questions.

How much does the exam cost?

The Financial Academy lists an examination fee of SAR 1,000. Confirm live pricing on the FA portal.

Who must take this exam?

SAMA requires employees of exchange institutions/companies and specified bank remittance-center staff to obtain the professional certificate for currency exchange and transfer.