Most of the theoretical results on the kinematic amplification of small-sca
le magnetic fluctuations by turbulence have been confined to the model of w
hite-noise-like (delta -correlated in time) advecting turbulent velocity fi
eld. In this work, the statistics of the passive magnetic field in the diff
usion-free regime are considered for the case when the advecting flow is fi
nite-time correlated. A new method is developed that allows one to systemat
ically construct the correlation-time expansion for statistical characteris
tics of the field such as its probability density function or the complete
set of its moments. The expansion is valid provided the velocity correlatio
n time is smaller than the characteristic growth time of the magnetic fluct
uations. This expansion is carried out up to first order in the general cas
e of a d-dimensional arbitrarily compressible advecting flow. The growth ra
tes for all moments of the magnetic-field strength are derived. The effect
of the first-order corrections due to the finite correlation time is to red
uce these growth rates. It is shown that introducing a finite correlation t
ime leads to the loss of the small-scale statistical universality, which wa
s present in the limit of the delta -correlated velocity field. Namely, the
shape of the velocity time-correlation profile and the large-scale spatial
structure of the flow become important. The latter is a new effect, that i
mplies, in particular, that the approximation of a locally-linear shear flo
w does not fully capture the effect of nonvanishing correlation time. Physi
cal applications of this theory include the small-scale kinematic dynamo in
the interstellar medium and protogalactic plasmas. (C) 2001 American Insti
tute of Physics.