AFIP Study Guide 2026
Everything you need to pass the AFIP exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 AFIP Exam Format at a Glance
📚 AFIP Topics to Study (43)
✍️ Sample AFIP Questions & Answers
1. Under a Vehicle Service Contract (VSC), what is the purpose of a 'waiting period' or 'exclusionary period'?
Waiting periods protect administrators from claims on failures that were pre-existing or imminent at the time of sale.
2. An F&I professional is offered a gift by a product provider in exchange for steering customers toward that provider's products. Accepting this gift would most likely constitute:
Receiving undisclosed gifts or payments that influence product recommendations constitutes a kickback, violating ethical and potentially legal standards.
3. How can technology improve client management?
Technology, particularly Customer Relationship Management (CRM) systems, significantly improves client management by centralizing client data, tracking interactions, and automating communication. CRM systems enable professionals to better understand client histories, personalize services, and proactively address needs, leading to more efficient and effective client relationships. This enhances client satisfaction and retention.
4. Under AFIP standards, how should an F&I professional handle a customer who asks to waive the explanation of F&I products to speed up the process?
Required disclosures cannot be waived by a customer's preference; the professional must provide them, though the presentation can be efficient.
5. A customer signs a contract and later claims they did not understand they had purchased a GAP product. To prevent this ethical and legal risk, F&I professionals should:
Both verbal explanation and written acknowledgment create a clear record that the customer was informed and agreed to each product.
6. In a simple interest auto loan, how is interest calculated each month?
Simple interest loans accrue interest daily on the outstanding principal balance, so early or extra payments reduce total interest paid.