CFA Level 1 Mock Exam Practice Questions 2024

CFA Level 1 Mock Exam and Practice Questions 2024 (UPDATED) Prepare for the Chartered Financial Analyst (CFA®) Level 1 exam with our updated 2024 mock exam and practice questions. Try our free multiple-choice questions and answers to enhance your understanding and test-taking skills.

The CFA Level 1 study program emphasizes tools and inputs, providing an introduction to asset valuation, financial reporting and analysis, and portfolio management techniques. Use these resources to ensure you are well-prepared for the CFA Level 1 exam.

CFA Level 1 Mock Exam Practice Questions

It would help if you used the LOS to guide and focus your study because each examination question is based on one or more LOS and the associated core material and practice problems. The entire practice problem is the basis for all examination questions and is selected or developed specifically to teach the knowledge, skills, and abilities reflected in the CBOK. Applicants who have passed the CFA Level 1 exam are eligible for 40 CP credits (four courses) in the foundation component of the Master of Finance program.

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CFA Level 1 Practice Test (Basic) (50 MCQs warmup test)

CFA Level 1 Practice Test (Part 1) (90 Question Answers)

CFA Level 1 Practice Test (Part 2) (90 Question Answers)

In addition to the CFA level 1 Mock Exam and Practice Questions, these practice problems should help CFA Test Prep demonstrate practical applications and reinforce your understanding of the concepts presented.

CFA Level 1 Exam

The Level I CFA Program curriculum is organized into ten topic areas. Each topic area begins with a brief statement of the material and the depth of knowledge expected. It is then divided into one or more study sessions. These study sessions—19 in the Level I curriculum—should form the basic structure of your reading and preparation. Each study session includes a statement of its structure and objective and is further divided into assigned readings. An outline illustrating the organization of these 19 study sessions can be found at the front of each curriculum volume.

Exam Topics and Weight Distribution
Topic Exam Weight
Functional Area: Ethical and Professional Standards
Session: 1
Time: 2 hours, 15 minutes
Total MCQs: 90
Ethical and Professional Standards 15-20%
Quantitative Methods 8-12%
Economics 8-12%
Financial Statement Analysis 13-17%
Corporate Issuers 8-12%
Functional Area: Portfolio Management and Analysis
Session: 2
Time: 2 hours, 15 minutes
Total MCQs: 90
Portfolio Management 5-8%
Equity Investments 10-12%
Fixed Income 10-12%
Derivatives 5-8%
Alternative Investments 5-8%

The Level I exam consists of 180 multiple-choice questions, split between two 135-minute sessions (session times are approximate). There is an optional break between sessions. Candidates must take both sessions to receive an exam result. Each multiple-choice item on the CFA Level I exam consists of a stem (a question, a statement, and/or table) and three answer choices (A, B, or C).

  • The first session (2 hours, 15 minutes): 90 multiple-choice questions covering the topics of ethics & professional standards, quantitative methods, economics, and financial statement analysis
  • Second session (2 hours, 15 minutes): 90 multiple-choice questions covering the topics of corporate issuers, equity, fixed income, derivatives, alternative investments, and portfolio management

The CFA exams are notoriously difficult, with low pass rates. Levels 1-3 Pass rates generally range from 22-56% from 2010 to 2021. The CFA Level 1 examination in May 2021 and July 2021 made news headlines after plummeting to a record-low pass rate of 25% and 22%, respectively, and in August 2021, the level 2 pass rate fell to 29%

CFA Institute Mock Exam

CFA Institute Mock Examinations Your examination registration fee also includes digital access to three-hour mock examinations that simulate the morning and afternoon sessions of the actual CFA examination. These mock examinations are intended to be taken after you complete your study of the full curriculum and take practice questions so you can test your understanding of the curriculum and your readiness for the examination.

You will receive feedback at the end of the mock examination, noting the correct responses and indicating the relevant assigned readings to assess areas of weakness for further study during your review period. We recommend that you take mock examinations during the final stages of your preparation for the actual CFA examination. For more information on the mock examinations, please visit

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