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The AFC exam has 165 questions and runs 3 hours.
These 10 free AFC questions are organized by exam domain, so you can see how each part of the Accredited Financial Counselor blueprint is tested. Reveal the answer and explanation under each question.
Marisol accurately explains the cost of her payday loans but doubts she can stop using them. On separate 0-10 scales, she rates the importance of stopping at 9 and her confidence at 2; 0 means none and 10 means the highest possible rating. Which counselor question most directly addresses the barrier these ratings reveal?
Correct answer: B - What would make one small step feel achievable this payday?
During a private appointment, a client says their partner monitors email and joint-account alerts and has threatened violence when money is moved without permission. The client is safe at the office, does not want the partner contacted, and asks how to set aside money to leave. What should shape the counselor's first response?
Correct answer: D - Agree on safe communication and, with consent, coordinate financial steps with a domestic-violence advocate.
At a follow-up meeting, a client proudly reports completing every planned $80 savings transfer. The account history also shows new overdraft fees: the transfers leave checking two days before payroll deposits clear. The monthly spending plan supports the $80 contribution. Which revision preserves the goal while correcting the problem?
Correct answer: D - Schedule transfers after pay clears and track both saving progress and overdraft charges.
Owen has $9,600 in savings, of which $3,600 is set aside for a tax payment due in two weeks. His checking balance is committed to this month's bills. He also has $48,000 in a retirement account and an unused $5,000 credit line. Monthly essential expenses are $3,000. Which assessment correctly states his basic liquidity coverage from unrestricted cash?
Correct answer: A - 2 months; the tax money is already committed to another obligation.
Three days before his federal income-tax filing and payment deadline, Leon has an accurate, completed return showing tax due. He can pay part now and make monthly payments on the rest. He asks whether a filing extension would let him wait without penalties until he has the full amount. Which recommendation correctly separates filing from payment?
Correct answer: A - File on time, pay what he can now, and seek an IRS payment arrangement for the balance.
Nadia's base FICO score has fallen, using the same scoring model and credit bureau as before. Her income increased, every payment remained on time, and she opened or closed no accounts. Her reports are accurate, but reported revolving utilization rose from 12% to 78%. What most plausibly explains the decline?
Correct answer: C - Greater revolving utilization can lower the score; higher income is not a direct FICO input.
A borrower with federal Direct Loans is offered a lower fixed interest rate by a private refinancing lender. Her earnings have become unpredictable, and she may need payments tied to income. The private contract offers hardship relief only at the lender's discretion. Which issue matters most beyond the quoted rate?
Correct answer: A - Private refinancing would give up federal repayment protections that may matter if her income falls.
A credit-card statement transmitted 45 days ago included a charge for a sofa whose agreed delivery date had already passed. The sofa has not arrived, and the retailer now promises a refund in another 30 days. To preserve federal billing-error rights, what should the customer do rather than wait for that promise?
Correct answer: C - Ensure written notice reaches the issuer's billing-inquiries address within 60 days after that first statement was transmitted.
A health plan's records show $3,300 already credited toward a $5,000 individual annual in-network out-of-pocket maximum, with $500 of the deductible still unmet. A covered in-network procedure this plan year has an allowed charge of $7,000. The patient's coinsurance is 20% after the deductible; no other charges apply. How much additional cost sharing can the patient owe for this procedure?
Correct answer: B - $1,700
Elaine has a will naming her daughter as executor and a health care proxy naming the same daughter. She wants to arrange for her daughter to manage bills and banking if Elaine later loses decision-making capacity. Elaine is currently competent. The additional instrument that specifically addresses this financial authority is:
Correct answer: C - A durable financial power of attorney.
The AFC exam also covers these domains. Drill them in the full free practice test:
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