Got Low Scores on Your CFA Practice Exam? Don’t Panic, Here’s How to Improve

My Level I mock exam results were all between 35-49%, but to my horror they only got worse with each subsequent mock exam.
Then to my huge surprise, I passed. Time was not an issue, but I did have to pay attention when reading the questions, because of my tendency to choose an answer before fully comprehending the question.

Also I averaged 7-8 hours a day of study, review of incorrect mock exam answers, and Schweser QBank questions in the final two weeks, with a break from study on the afternoon and evening before the exam day.

Q# Topic Max Pts <=50% 51%-70% >70%
– Alternative Investments 10 * – –
– Corporate Finance 17 – – *
– Derivatives 12 – * –
– Economics 24 – – *
– Equity Investments 24 – – *
– Ethical & Professional Standards 36 – – *
– Financial Reporting & Analysis 48 – – *
– Fixed Income Investments 24 * – –
– Portfolio Management 17 * – –
– Quantitative Methods 28 – * –

I was scoring around 65% in my Level I mocks, and passed on first attempt with over 70% in each but three section. With Level II, I was scoring really low (40-50%, as far as I can remember). I passed on first attempt scoring over 70% in 5 or 6 sections. However, I can’t emphasize enough how important mocks are. I’d also recommend concentrating on CFA Institute materials and EOC questions. With Level III, I don’t think I’ll be purchasing any third-party materials.