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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?
Correct Answer:
Speed of digital onboarding outpacing rigorous CDD
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?
Correct Answer:
The chartered partner bank
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?
Correct Answer:
The bank did not perform adequate oversight or CDD on FinTech partners' end customers
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?
Correct Answer:
Synthetic identity fraud paired with quick-merchant cash-out abuse
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)?
Correct Answer:
When it accepts and transmits funds for persons other than its bank-affiliated merchants outside narrow exemptions
Question 1
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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.

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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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