CFA Cheat Sheet 2026

The 30 highest-yield CFA facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. What is the immediate nursing response when a patient experiences wound evisceration? → Cover with a moist sterile dressing and notify the surgeon immediately
2. On the NRA antique scale, 'Fine' condition generally implies what about the gun's finish? → Most of the original finish is still present with minimal wear
3. A nutrient management plan must be updated when which of the following occurs on the farm? → Land use, crop rotation, or yield goals change significantly
4. An NRA 'Excellent' modern firearm differs from an NRA 'Perfect' modern firearm primarily in that 'Excellent' allows for what? → Evidence of light use with minor wear
5. A call option's intrinsic value is best described as: → The greater of zero and the stock price minus the strike price
6. During a procurement review, an auditor finds multiple vendors with sequential invoice numbers and similar amounts. This pattern suggests: → Shell company or fictitious vendor scheme
7. The swap spread is defined as the fixed rate on an interest rate swap minus: → The yield on a Treasury bond of the same maturity
8. A CFA professional encounters an unfamiliar situation while performing metal & wood restoration ethics duties. What is the most appropriate first action? → Consult relevant standards, guidelines, or a qualified supervisor before proceeding
9. What is the classic symptom triad of pulmonary embolism (PE)? → Dyspnea, chest pain, hemoptysis
10. An agent receives a tip about ongoing criminal activity at a specific location. Before conducting physical surveillance, what should the agent do FIRST? → Conduct a preliminary records check and assess legal authority for surveillance
11. Which type of barrier most effectively prevents strike-through contamination in surgical drapes? → Impermeable fluid-resistant synthetic drapes
12. What is a key consideration when assisting with suturing during surgery? → Sutures should be evenly spaced and have appropriate tension
13. A surgical patient develops acute coagulopathy despite transfusion. The anesthesiologist suggests giving tranexamic acid. Its mechanism of action is: → Inhibiting fibrinolysis by blocking plasminogen activation
14. What is a forklift’s center of gravity affected by? → The load weight and position
15. What role does employee training play in fraud prevention? → It helps employees detect and report fraud
16. A producer notices iron chlorosis in soybean on a field with pH 7.8. The most probable cause is: → Iron becoming unavailable due to high pH converting it to insoluble forms
17. Under the CFA Institute's GIPS standards, firms must present at least how many years of compliant performance history (or since inception if less)? → 5 years
18. Under Standard I(B) – Independence and Objectivity, which action BEST protects a CFA charterholder from compromising their independence? → Declining gifts that could reasonably be expected to compromise judgment
19. Which financial audit standard specifically requires the auditor to communicate fraud findings to those charged with governance? → AU-C Section 240
20. Which section of a fertilizer label is legally required to list nutrient guarantees? → Guaranteed analysis
21. An appraiser encounters a pistol described as having a 'striker-fired' action. This means: → A spring-loaded striker directly impacts the primer without a separate hammer
22. Which of the following BEST describes the purpose of 'continuous monitoring' in fraud prevention? → Using automated systems to review 100% of transactions in real time for anomalies
23. Jensen's alpha measures portfolio performance as: → The actual portfolio return minus the CAPM-expected return given the portfolio's beta
24. An agent is preparing a search warrant affidavit. Which element is MOST critical to establish probable cause? → Specific, articulable facts connecting the location to criminal activity
25. During a Whipple procedure (pancreaticoduodenectomy), the gastroduodenal artery is ligated. This artery is a branch of the: → Celiac trunk via common hepatic artery
26. What is the purpose of checking the forklift's data plate during a pre-shift inspection? → To verify the truck's rated capacity and ensure it matches the loads to be handled
27. A certified applicator is about to spread fertilizer adjacent to a water body. Which buffer practice is most commonly required by state regulations? → Maintain a no-application setback distance (buffer zone) from the water's edge
28. A circulator notices that a sterile drape is clamped too close to a non-sterile area of the patient. What should be done? → Apply additional sterile drapes over the area
29. Which suture technique is preferred for rapid temporary control of a bleeding vessel during emergent hemorrhage? → Figure-of-eight suture
30. How can the first assistant prevent contamination during surgery? → By maintaining the sterile field and using proper technique