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Free CFA® Level 1 practice test & mock exam

Try one question from each topic and spot what to review next. Get your score and explanations when you finish, with no sign-up.

  • 10 questions
  • 1 per topic
  • ~10–15 min
  • No sign-up
Take the full 180-question mock

0 of 10 answered

Question 1

Quantitative Methods

A US investor holds a euro-denominated bond that returned 6.0% in euros over the year. Over the same period, the euro depreciated 3.0% against the US dollar. The investor's return in US dollars is closest to:

Choose one answer

Choose one answer to continue. Your answers are saved in this browser.

What is a CFA Level 1 mock exam?

A mock exam is a rehearsal for exam day: a full set of mixed-topic questions taken under a time limit. It lets you check how well you can apply what you have learned while managing the pace of a whole session.

The 10 questions above are an untimed introduction, with one question from each topic and explanations to review when you finish or as you go. A full mock tests a wider range of material over complete timed sessions.

The CFA Level 1 exam at a glance

Questions
180 multiple-choice questions
Sessions
2 × 135 minutes
Answer choices
A, B or C — one correct answer
Average pace
About 90 seconds per question

Level 1 covers 10 topics, from Ethics and Quantitative Methods to Portfolio Construction. Their exam weights differ; the short practice above gives each topic one question. The real exam gives all questions equal weight and has no penalty for an incorrect answer.

For exam windows, fees and preparation, read our 2027 CFA Level I exam guide.

Ready for the full mock?

The full mock covers more material, adds timed sessions and saves your progress in the Quizara App.

What you get here and in the Quizara App
What to expectHere on this pageFull mock in the App
Coverage10 questions · one per topic180 questions across all 10 topics
TimingUntimed2 timed sessions
ExplanationsAt the end, or after each answer if you chooseReview after submitting the mock
Saved progressThis browserYour Quizara account
AccessFree · no sign-up14-day free trial · no card

After the mock, revisit your saved answers and ask AI to explain a question you want to understand better. Use that review to choose what to practise next.

Take the full 180-question mock

The trial includes this mock and Quantitative Methods. Premium includes all 10 topics and 5 full mocks. See access and pricing.

CFA Level 1 mock exam FAQs

Do I need an account to start?

The short practice test and all answer explanations are free without registration. Review answers when you finish, or turn on Show answers as I go for feedback after each question.

Are these official CFA Institute questions?

These are Quizara's own reviewed questions. Quizara is an independent study resource and is not affiliated with or endorsed by CFA Institute.

Does this practice result predict whether I will pass?

No. One question per topic is an initial signal. It cannot predict whether you will pass. Use the missed topics and their exam weights to choose what to review next.

Why does the full mock require an account?

The App saves your answers, timing and progress to your account, so you can return to the mock and review explanations after submitting. You can also ask AI about a question. Create a free account; your 14-day trial starts automatically in the App. No card required.

Sources

Official exam format and preparation guidance: CFA Institute’s Level I exam guide · CFA Institute’s practice questions and mock exams.

More free CFA® Level I tools