CFA CFA General The Ultimate Guide to CFA Practice Exams

The Ultimate Guide to CFA Practice Exams

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    • Zee Tan
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      The Ultimate Guide to CFA Practice Exams

      By Sophie It’s the time of the year again – the month right before CFA exams … it’s crunch time! This is the month that matters , where you turn from zero to hero through doing the iterative cycle…

      Read the full story here

    • tacheman
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      Good compilation – thanks.Wish there were more options for Level 2 though.

    • sethneha
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      Thanks alot for the compilation.

      i have one question: i have got study package from Elan Guides that has 2 mocks and they are superb, no doubt in that. i want to know what is the third mock offered by them ? is the 3rd mock needed to be bought or available with the study package ?

    • Dubinka
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      Hi friends, just want to share my story about Elan..Please be aware of Elan Guides, if you are a retaker – this company is reselling same mock exams just marking them 2014 instead of 2013 no change at all in content, they never respond on emails if you are complaining or asking for the moneyback. I regret so much to deal with Elan..

    • Sophie Macon
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      @sethneha‌ – thanks for pointing that out. In fact, Elan just had a new home page published which they updated their Level 2 offering to 2 mocks only, so you’re right on that. For level 1 it is 3 mocks for $117 (including the 300 Hours 10% discount).


      @Dubinka
      ‌ – I can understand your frustration. Elan has recently been bought over by Wiley, and I suspect the transition period with the changeover in ownership has caused a drop in response on customer service. We are told by Wiley that this will be corrected by the next exam cycle and things should improve once the handover is completed. Hope preparations are going well!

    • sethneha
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      @Dubinka yes, for 2014 they gave the same mock as 2013. in understand that. but i would say just do the mock again. Fresh. it worked for me. it really doesn’t matter if the mock content was same given u don’t remember the questions or answers.

      and trust me the Mock Exam Seminar they had put up for Mock 1 of 2014 is AMAZING!! they haven’t put for Eco, Portfolio Mgmt and Quant. but rest 7 subjects are bang on revision. That is some intensive review. i am eagerly waiting for Mock 2 seminar too. It takes a lot to come up with an intensively exhaustive seminar like that. Peter has done all 7 subjects videos and he has covered everything in great detail. He didn’t only cover the case studies in context but all important and relevant points regarding that chapter in question. Hats Off to them for that and i simply enjoyed my review session.

      Also, i compared my answers to the same mock what i had marked last year (as i retain my mocks and marked on the paper itself) and to what i answered now. To my surprise, i got the same questions wrong this time what i had got wrong last year! and what i needed was someone to explain me what and where is that i go wrong and fill the gap in between those and that’s where the Mock exam seminar did its work more.

      Just give a try. may be you too can learn from it.


      @Sophie
      ,thanks for clearing that.

    • sethneha
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      Has anybody tried Fitch learning mock ? how is it ? is it worth the money ? and can the mock be downloaded or is it only on online mode?

    • hairyfairy
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      @sethneha‌ I’ve gotten it (L2) but yet to try it out.

    • Jim
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      It looks like the Elan Guides mocks point to the Schweser site for Level 2.

    • Sophie Macon
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      Nice catch @Jim – corrected!

    • BeanCounter
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      Hi Sophie,

      Trying to purchase the Fitch practice papers and although it says to select from the right, there’s nothing there… Is it a case of emailing them?

    • Sophie Macon
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      @beancounter – yes that’s right, emailing or calling them directly would work best. I think they experienced some IT issues processing all the request hence the switch to this method.

    • BeanCounter
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      Thanks @Sophie – done.

    • nlipinski90
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      Whatever you do, don’t use Kaplan – their mock exams have lags between questions of 10 seconds to 3 minutes (no joke), during which your time is still counting down. So 10 seconds over 120 questions is 20 minutes of just wait time. Had this issue on multiple computers and internet connections. And then they refused me a refund.

    • eswilliams12
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      Hello Sophie. Is the offer for Fitch Mock Exam still good? I tried to look into it, but I can’t even get to an ordering sight. I wanted to ask before e-mailing them directly.

    • DigitalWizard
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      Anyone use FinQuiz?, right now they have something like 6 papers for $100, and subscribers to their email list get 75% off!?

    • PaulAdaptPrep
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      Passed Tense includes access to 2,600 questions, in addition to a full printable mock exam (240 questions). Adapt is also the only adaptive learning question bank for the CFA.

    • Zee Tan
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      @eswilliams12 the Fitch Mock exam is now valid!

    • DigitalWizard
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      Well, I think I bought FinQuiz’s 6 for $25 we’ll see how they are soon.

    • Stuj79
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      @DigitalWizard how are you finding those L2 Finquiz mocks? What kind of scores are you getting? I have completed the first mock and got 52% in the AM session and 78% in the PM session for a 65% average. I find them even perhaps a little more difficult than the CFAI questions…

    • fabian
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      @DigitalWizard @Stuj79 How are Finquiz mocks in general? I’ve heard horror stories about poor quality some time back, wondered if they’ve improved. $25 is crazy cheap!

    • mlegrellier
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      @DigitalWizard @Stuj79  How did you guys find the Level 1 Finquiz papers?
      I wrote my first one this past weekend and got an average of 55%.
      Personally it felt more difficult compared to CFAI? Any comments would be great?

    • hairyfairy
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      55% for your first is about right I guess. More difficult compared to CFAI mock is always great. How many are you planning to take in total  @mlegrellier?

    • mlegrellier
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      @hairyfairy 

      After writing the exam.

      My strategy. I use the Qbank (Kaplan) questions every morning and write 40 questions covering two topics. That evening I revise where I fel short. I normally average between 60% and 70% on first attempt.
      My Mocks will be Saturdays (Except for one) and Wednesdays
      – 7th FINQUIZ
      – 11th FINQUIZ
      – 14th 1st CFA Mock
      – 18th FINQUIZ
      – 22nd  – Sit for Mock exam offered by Kalplan 
      – 25th FINQUIZ
      – 28th FInquiz

      Last week I will have the second CFA Mock to work with. I would have written 9 full 6 hour papers… 

    • Stuj79
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      @mlegrellier I personally found the L2 Finquiz mocks to be significantly harder than the CFAI mocks, Schweser mocks or the CFAI exam itself – however they weren’t harder in a “good way” – they were harder in a really frustrating way that I don’t believe carried over into making me more prepared for the actual exam. The L2 Finquiz mocks would test on tiny pedantic minutiae that were all particular to that particular questions, rather than test fundemental concepts that would carry over into increased ability to tackle similar, but different questions. 

      The L1 Finquiz mocks were also a bit tougher than the CFAI/Schweser mocks but due to the format (simple, individual multichoice question vs L2s item set question) I found them to be more useful for L1 that the L2 Finquiz mocks were for L2.

      So to sum up, I believe L1 Finquiz mocks are well worth doing as they are touh and will help you cement concepts, whereas L2 Finquiz mocks are a bit of a waste of time….I bought 6 L2 Finquiz mocks and threw them away after completing on 1 and a half of them. Yeah, I think they are THAT bad!

    • mlegrellier
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      Really appreciate the feedback! 

      You have hit the nail on the head. 
      I have seen my score go up a little as I take them, but not confident enough in the exam. 
      In saying this, I have started to do the topic test in the curriculum and been averaging 70 plus and schweser Qbank.
      I call these FINQUIZ papers the reality check. Keeps you on your toes, all the time! 

      It’s time to write, fail or pass. Needs to be done! 

    • Shubhankarbiswas1
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      I used prepsmarter for daily practice test for cfa exam. If anybody intrested then they can also use this app for daily test practice. Hope this will be useful

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