CFA Practice Test

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CFA Practice Test

Updated for August 2026
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The CFA Exam consists of a series of three examinations (Levels I, II, and III) to be taken successively. Exams are given only once a year in June, except for Level I applicants, who also have the opportunity to take the test in December. The number of times you can take each exam is not limited, and you can spend as much time since you have to pass the exam.

The CFA Level 1 exam consists of basic knowledge and understanding questions based on investment instruments, while the CFA Level 2 examination includes more complex analysis and emphasis on asset valuation.

The CFA Level 3 exam incorporates all concepts and analytical methods in several applications for effective portfolio management and capital planning.

Take the CFA Practice Test Online!

CFA Practice Test Questions

Prepare for the CFA - Chartered Financial Analyst exam with our free practice test modules. Each quiz covers key topics to help you pass on your first try.

CFA
CFA Exam Questions covering CFA. Master CFA Test concepts for certification prep.
CFA Derivatives and Risk Management
Free CFA Practice Test featuring Derivatives and Risk Management. Improve your CFA Exam score with mock test prep.
CFA Economics for Investment Analysis
CFA Mock Exam on Economics for Investment Analysis. CFA Study Guide questions to pass on your first try.
CFA Equity Investments
CFA Test Prep for Equity Investments. Practice CFA Quiz questions and boost your score.
CFA Ethics and Professional Standards
CFA Questions and Answers on Ethics and Professional Standards. Free CFA practice for exam readiness.
CFA Financial Reporting and Analysis
CFA Mock Test covering Financial Reporting and Analysis. Online CFA Test practice with instant feedback.
CFA Fixed Income Analysis
Free CFA Quiz on Fixed Income Analysis. CFA Exam prep questions with detailed explanations.
CFA Portfolio Management
CFA Practice Questions for Portfolio Management. Build confidence for your CFA certification exam.
CFA Practice Test
CFA Test Online for Practice Test. Free practice with instant results and feedback.
Review the official CFA exam content outline
Take a diagnostic practice test to identify weak areas
Create a study schedule (4-8 weeks recommended)
Focus on your weakest domains first
Complete at least 3 full-length practice exams
Review all incorrect answers with detailed explanations
Take a final practice test 1 week before exam day

Related Finance & Accounting Practice Tests

If you are preparing for a career in finance & accounting, you may also find these related practice tests helpful:

Prepare for the ACCA - Association of Chartered Certified Accountants โ€” the Association of Chartered Certified Accountants qualification, a globally recognized accounting credential.

Prepare for the AAT Level 2 - Foundation Certificate in Accounting โ€” the AAT Level 2 Foundation Certificate in Accounting covering bookkeeping, costing, and business environment.

Prepare for the AAT Level 3 - Advanced Diploma in Accounting โ€” the AAT Level 3 Advanced Diploma in Accounting including financial statements and tax processes.

Prepare for the AAT Level 4 - Professional Diploma in Accounting โ€” the AAT Level 4 Professional Diploma in Accounting covering management accounting and financial reporting.

Prepare for the AICPA - American Institute of Certified Public Accountants โ€” the American Institute of Certified Public Accountants certification, the premier CPA qualification in the US.

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CFA: Pros and Cons

Pros

  • CFA exam preparation strengthens your knowledge across all domains
  • Passing the exam proves competency to employers and clients
  • Study materials and practice tests are widely available
  • Exam-based credentials are portable across states and employers
  • Clear exam objectives help focus your study plan effectively

Cons

  • Exam anxiety can affect performance โ€” practice tests help reduce it
  • Registration fees are non-refundable if you miss your test date
  • Limited retake opportunities may apply with waiting periods
  • Exam content updates periodically โ€” use current study materials
  • Testing center availability may require advance scheduling
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