Certified Financial Aid Administrator® Exam Preparation Guide 2024-25

This guide is useful in preparing to be a financial aid administrator and for preparing to take the Certified Financial Aid Administrator® Knowledge Exam. Each lesson covers concepts directly relevant to the administration of Title IV aid, within the scope of the twelve major content areas—or “knowledge domains”—that guide the composition of the Exam Content Outline in the Candidate Handbook. Included are assessments to gauge both knowledge and application of principles. Designed for use in conjunction with other generally available resources, including regulatory guidance provided by the U.S. Department of Education, the information will complement and enhance the knowledge you already possess.

This resource does not constitute the sole source of all exam questions, nor should it be construed as required to prepare for or to pass the Certified Financial Aid Administrator® Knowledge Exam. Candidates may choose to use this guide as part of a personal study plan, based on individual needs and knowledge. Learn more about all of NASFAA’s candidate resources.

If you are planning to attend an exam preparation workshop (either online or an in-person event hosted by your state or region), you will receive complimentary access to the exam preparation guide. Do not purchase the guide in advance of the workshop, because your purchase will not be refunded. 

Note: Test candidates are expected to know all aspects of a Title IV subject (other than any temporary waivers of regulatory requirements), including updates or new guidance announced by the U.S. Department of Education after the Exam Preparation Guide was last published.   



  • Lesson 1: Institutional Eligibility
  • Lesson 2: Data Management
  • Lesson 3: Administrative Capability
  • Lesson 4: Consumer Information
  • Lesson 5: Cash Management
  • Lesson 6: Student Eligibility
  • Lesson 7: Cost of Attendance and Need Analysis
  • Lesson 8: Packaging and Aid Notification
  • Lesson 9: Verification
  • Lesson 10: Return of Title IV Funds
  • Lesson 11: Satisfactory Academic Progress
  • Lesson 12: Professional Judgment
View Desktop Version