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ABA Certified AML and Fraud Professional (CAFP) Examination
600 questions
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About this exam
The ABA Certified AML and Fraud Professional (CAFP) Examination is a professional certification exam for people who work in, or are preparing for, anti-money-laundering and fraud prevention roles in banking and related financial services. It assesses knowledge used to identify financial-crime risks, support compliance programs, and respond to evolving regulatory expectations. Candidates may include bank AML analysts, investigators, compliance officers, fraud professionals, and others whose responsibilities involve customer risk, suspicious activity, or financial-crime controls. The credential is intended to demonstrate professional knowledge, not to serve as a general banking entrance exam.
CAFP study areas include the U.S. Bank Secrecy Act and AML regulatory requirements, risk-based AML program design and governance, customer due diligence and know-your-customer practices, and beneficial ownership identification and verification. Preparation calls for understanding how requirements apply in practical banking situations—not just memorizing terms. Review the current ABA exam materials for the official content outline, eligibility, application process, and exam format, since details can change by cycle. Build a study plan around weaker topics, and use practice questions to check both your reasoning and your understanding of why an answer is correct.
How to prepare for the ABA CAFP Examination
- Start with the current ABA CAFP exam content outline and organize your review by domain. Give focused attention to BSA and AML requirements, risk-based program governance, customer due diligence, and beneficial ownership.
- Study how rules and controls apply to realistic bank scenarios. For each topic, explain the purpose of the control, the risk it addresses, and what a compliance professional should consider next.
- Use timed question sets periodically, then review every answer—including correct guesses. Confirm eligibility, exam structure, and any updated requirements in ABA’s official candidate materials before applying.
FAQ
Who is eligible to take the ABA CAFP Examination?
The exam is intended for professionals in AML, fraud prevention, compliance, and related financial-crime work. Eligibility and any experience or other requirements can depend on current ABA certification policies, so check the official CAFP materials for the cycle in which you plan to apply.
What is the format of the ABA CAFP Examination?
The exam assesses knowledge across the CAFP content areas. The number of questions, testing time, delivery arrangements, and other format details should be confirmed in ABA’s current exam information or candidate materials, as these details may be updated.
What subjects should I study for the CAFP exam?
Review the official content outline, including BSA and AML regulatory requirements, risk-based AML program design and governance, customer due diligence and know-your-customer practices, and beneficial ownership identification and verification. Practice applying concepts to banking situations as well as recalling key requirements.