The Certified Forensic Accountant (CrFA) examination is for candidates pursuing certification through the Institute of Certified Forensic Accountants. This page brings together free practice sets, worked explanations, and verified exam information. Use it to identify gaps in your understanding, practise explaining your answers, and connect your study to the official content areas.
The CrFA has 120 questions, takes about 2 hours and costs $250[1][2] (Institute of Certified Forensic Accountants, verified Nov 12, 2026).
Numbers in brackets link to the official sources listed under Sources & last verified. Dates that have passed are removed automatically.
| Item | Detail | Source · Verified |
|---|---|---|
| Number of questions | 120 multiple-choice questions across 9 modules[1] | crfaindia.org · Nov 12, 2026 |
| Time limit | 2 hours (120 minutes)[1] | crfaindia.org · Nov 12, 2026 |
| Exam fee | $250 total ($50 registration fee + $200 examination fee)[2] | Institute of Certified Forensic Accountants · Nov 12, 2026 |
| Retake fee | $75 per reappearance[1] | crfaindia.org · Nov 12, 2026 |
| Retake policy | Unlimited attempts during the 1-year registration period[1] | crfaindia.org · Nov 12, 2026 |
| Validity | 1 year from date of registration[1] | crfaindia.org · Nov 12, 2026 |
| Renewal | Annual CPD credits and annual membership renewal[3] | Institute of Certified Forensic Accountants · Nov 12, 2026 |
| Delivery | Online proctored examination[1] | crfaindia.org · Nov 12, 2026 |
According to Institute of Certified Forensic Accountants, “There are 09 modules which have to be completed in a single sitting comprising a total 120 MCQ Questions.”[1]
The CrFA examination is part of pursuing the Certified Forensic Accountant credential through the Institute of Certified Forensic Accountants. The official content areas supplied here cover understanding forensic accounting, detecting fraud, examining fraud, and understanding the legal environment. Use those headings to organize your preparation, while checking the official outline for the full scope.
The examination is online and proctored. It comprises 120 multiple-choice questions across 9 modules, completed in a single sitting, with a stated time limit of 2 hours (120 minutes). The verified information supplied here does not state a passing score or explain how answers are scored. Check the Institute’s official Frequently Asked Questions for those details and any eligibility requirements before registering.
The stated total fee is $250, comprising a $50 registration fee and a $200 examination fee. Registration remains valid for 1 year from the date of registration. During that period, attempts are unlimited, with a $75 reappearance fee for each retake. Consult the official Frequently Asked Questions for registration and reappearance rules, and the official examination registration page for fees.
Maintaining the credential requires annual CPD credits and annual membership renewal. Consult the official Maintain Your CrFA page for the applicable requirements. Our practice content is written with AI tools; the practice questions are our own and are not real examination questions.
The content areas below are copied from the official CrFA content outline published by Institute of Certified Forensic Accountants. The right-hand column shows which of our practice sets covers it.
| Official content area | Practice on this site |
|---|---|
| Module 1: Understanding Forensic Accounting[5] | CrFA Fraud Examination & Financial Investi... Practise distinguishing the purpose of a forensic accounting investigation from routine financial reporting and identifying what evidence supports a conclusion. |
| Module 2: Detecting Fraud[5] | CrFA Internal Controls & Risk Assessment Practise connecting warning signs and control weaknesses to the fraud risks that warrant further investigation. |
| Module 3: Examining Fraud[5] | CrFA Fraud Examination & Financial Investi... Practise evaluating financial records, following suspicious transactions, and separating supported findings from assumptions. |
| Module 4: Understanding Legal Environment[5] | CrFA Legal Compliance & Ethical Standards Practise recognizing legal and ethical issues that affect how an investigation is conducted and its findings are reported. |
Prepare for the CrFA - Certified Forensic Accountant exam with our free practice test modules. Each quiz covers key topics to help you pass on your first try.
These are practice questions written for this site, not questions from the real exam. Each explanation shows why the right answer is right and why the others are wrong.
Question: A discount for lack of marketability (DLOM) reflects:
Answer: B. The reduction in value because a private company interest cannot be quickly sold
Explanation:
B is correct: a discount for lack of marketability reflects the difficulty of selling a private company interest quickly. A readily tradable interest gives its owner access to cash more easily; limited marketability can therefore reduce value. A describes a concern about control: whether a shareholder can influence decisions. That is distinct from the ability to sell the interest. C concerns tax deductions, which do not define marketability. D compares accounting book value with fair market value without explaining any difficulty selling. Remember the distinction: marketability concerns the ability to sell; control concerns the ability to influence business decisions.
Question: Taxpayers participating in an IRS 'listed transaction' must disclose it on which form?
Answer: B. Form 8886
Explanation:
B is correct: Form 8886 is the Reportable Transaction Disclosure Statement used to disclose participation in listed and other reportable transactions. The question asks about disclosure of a transaction category, so identify the form by its reporting purpose. A, Form 8300, concerns reporting certain cash payments received in a trade or business. C, Form 8938, concerns specified foreign financial assets. D, Form 3520, concerns certain foreign trust transactions and foreign gifts. Those reporting subjects do not answer the listed-transaction question. Remember to match the disclosure obligation to the form’s purpose, rather than choosing a form simply because it also reports financial information.
Question: Which of the following best describes the 'placement' stage of money laundering?
Answer: B. Introducing illicit cash into the financial system
Explanation:
B is correct: placement means introducing illicit cash into the financial system. The defining feature is the entry of criminal proceeds, rather than the later steps used to disguise their origin or make them appear legitimate. A describes a broader conversion into seemingly legitimate assets and does not identify that entry point. C describes concealing the audit trail, which is associated with layering. D describes integration, when laundered funds enter the legitimate economy with an apparently lawful explanation. Remember to identify what the activity accomplishes: entry into the financial system indicates placement; obscuring the trail indicates layering; apparent legitimacy indicates integration.
Start with the Institute’s official outline and study material. Use the content areas above as a checklist, then match each area to relevant practice. The linked sets are topical study aids; their titles do not establish the official module structure or examination weighting.
Begin with Fraud Examination and Financial Investigations. For each answer, explain what evidence supports your choice and what makes the alternatives less suitable. Record whether a mistake came from a missing concept, a misunderstood term, or a detail you overlooked.
Use Internal Controls and Risk Assessment to work on detection, and Legal Compliance and Ethical Standards to revisit legal and ethical issues. Return to the official material whenever an explanation leaves a question unresolved.
Revisit missed topics after reviewing the underlying concepts. Explain the rule without looking at the answer, then apply it to a different scenario. Before test day, confirm the online proctoring instructions with the Institute and practise sustaining attention within the stated 120-minute examination limit.
The CrFA examination is online and proctored, with 120 multiple-choice questions across 9 modules in a single sitting. The stated time limit is 2 hours (120 minutes). The Institute of Certified Forensic Accountants’ official Frequently Asked Questions is the source for these delivery and format details.
The stated total fee is $250, comprising a $50 registration fee and a $200 examination fee. A reappearance costs $75 per attempt during the valid registration period. Refer to the official examination registration page for the fee breakdown and the Institute’s Frequently Asked Questions for reappearance charges.
Yes. Attempts are unlimited during the 1-year registration period, and each reappearance costs $75. Registration validity runs from the date of registration. The Institute’s official Frequently Asked Questions provides these rules; the supplied facts do not establish what happens after that registration period expires.
The verified information supplied for this page does not specify a passing score, scoring method, or eligibility requirements. It establishes the examination format, delivery, fees, and registration validity. Consult the Institute of Certified Forensic Accountants directly for the applicable eligibility and scoring details before registering.
Maintaining the CrFA credential requires annual CPD credits and annual membership renewal. The supplied facts do not specify the required credit amount or renewal fee. Consult the official Maintain Your CrFA page for the applicable requirements when planning how to keep your certification current.
How we verify: editorial & fact-checking policy. Report an error: contact us.