Free CFA Level 1 Practice

CFA Level 1 Practice Questions

Test your CFA exam readiness with 190 module quiz questions and a full 180-question mock exam covering all 10 subjects.

190

Quiz Questions

180

Mock Exam Qs

10

Subjects

2026

Curriculum

Quick answer

How many practice questions should you do for CFA Level 1?

Most candidates who pass CFA Level 1 complete somewhere between 1,500 and 3,000 practice questions, plus at least two or three full-length mocks. Volume matters less than reviewing every wrong answer until you can explain why the right one is right. CFA Master provides 190 module-level questions with explanations, plus a 180-question mock exam.

  • 190 module questions with an explanation on every answer choice
  • A full 180-question mock exam mirroring the real two-session format
  • Target 1,500–3,000 questions total across all your study sources
  • Review rule: log every miss by module, not just by score

Quiz Questions by Subject

Each module includes targeted quiz questions with detailed explanations. 190 questions across all 10 CFA Level 1 subjects.

Quantitative Methods

Exam weight: 6-9%

11 modules44 questions

Economics

Exam weight: 6-9%

8 modules27 questions

Financial Statement Analysis

Exam weight: 11-14%

9 modules29 questions

Corporate Issuers

Exam weight: 6-9%

7 modules21 questions

Equity Investments

Exam weight: 11-14%

6 modules14 questions

Fixed Income

Exam weight: 11-14%

5 modules14 questions

Derivatives

Exam weight: 5-7%

2 modules6 questions

Alternative Investments

Exam weight: 5-8%

3 modules7 questions

Portfolio Management

Exam weight: 8-12%

3 modules10 questions

Ethical & Professional Standards

Exam weight: 15-20%

5 modules18 questions

Full 180-Question Mock Exam

Simulate the real CFA Level 1 exam with a comprehensive practice test covering all topics, weighted by CFA Institute exam proportions.

180 Questions

Multiple-choice questions covering all 10 subjects at exam-weight proportions.

Exam Format

Mirrors the actual CFA Level 1 exam structure. Answer at your own pace or set a timer.

Instant Scoring

See your score immediately with detailed explanations for every question.

Question Distribution by Subject

30

Ethics

15

Quant

15

Economics

23

FSA

15

Corporate

17

Equity

23

Fixed Income

12

Derivatives

11

Alternatives

19

Portfolio

Try 5 Sample Questions

Click an answer to check if you are right. Each question includes a detailed explanation.

1
Ethics

A CFA charterholder discovers her firm is systematically overcharging clients. She should FIRST:

2
Quantitative Methods

The EAR for a stated annual rate of 12% compounded monthly is closest to:

3
Economics

A recession is characterized by:

4
Equity

A price-weighted index is most affected by:

5
Fixed Income

Convexity is beneficial to bondholders because:

Ready for More Practice?

Access all 190 module quiz questions, the full 180-question mock exam, plus cheat sheets, flashcards, and formula sheets.

Start Studying Now

No signup required. Create an account anytime to save progress.

Frequently asked questions

How many practice questions are enough for CFA Level 1?

There is no official threshold, but 1,500–3,000 questions across all your sources is the range most successful candidates report, alongside two or three full-length mock exams in the last six weeks.

When should you start doing CFA Level 1 practice questions?

Immediately after each module, not at the end of your study plan. Answering questions the same day you read a module converts recognition into recall and shows you which parts you only think you understood.

Are CFA Level 1 practice questions harder than the real exam?

Third-party questions vary. CFA Institute's own mock exams are the most representative of exam difficulty and wording; use other question banks for drilling volume and coverage, and calibrate your expectations against the official mocks.