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CAFCA Practice Questions - ACAMS Certified AML FinTech Compliance Associate Exam

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About this Exam

Prepare with the CAFCA Practice Questions - ACAMS Certified AML FinTech Compliance Associate Exam practice quiz. This question bank includes 100 questions covering fintech, payment, model, monitoring, and risk. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

Sample Questions

Question 1
A 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?
Cash-intensive structuring at teller windows
Speed of digital onboarding outpacing rigorous CDD
Physical robbery of branch vault assets
Inability to accept domestic ACH payments
Question 2
Under the Banking-as-a-Service (BaaS) model, who holds ultimate BSA/AML responsibility for monitoring transactions of a FinTech's end customers?
The FinTech program manager
The card network (Visa or Mastercard)
The chartered partner bank
Whichever entity collected the customer's PII
Question 3
In 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?
The bank failed to monitor proprietary trading activity
The bank did not perform adequate oversight or CDD on FinTech partners' end customers
The bank charged FinTech partners excessive fees
The bank's website lacked TLS encryption
Question 4
A 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?
Cash-back rewards programs
Synthetic identity fraud paired with quick-merchant cash-out abuse
Foreign-exchange conversion fees
Mortgage default risk
Question 5
A 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)?
Whenever it accepts credit-card payments for merchants
When it accepts and transmits funds for persons other than its bank-affiliated merchants outside narrow exemptions
Only if it accepts cryptocurrency
Only when it operates internationally

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Additional Information

CAFCA Practice Questions - ACAMS Certified AML FinTech Compliance Associate Exam

This practice set contains 100 questions from the matching question bank and focuses on fintech, payment, model, monitoring, and risk. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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Frequently Asked Questions

This quiz contains a total of 100 practice questions carefully selected to test your knowledge on this subject.
Yes, you will have exactly 0 minutes to complete the exam. A countdown timer will be visible once you start.
Yes, you can retake this practice test as many times as you need. The questions and options may be randomized on subsequent attempts to ensure comprehensive learning.

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