So you bought a whole bunch of mock exams. Are you on track to finish all of them by CFA exam day?
Our research, based on 900+ candidate experiences and results, shows why finishing up matters, and how you can get there.
Why is it important to complete all your CFA mock exams?
Candidates who passed the CFA exams completed more mock exams
When compared by CFA exam results, the conclusion was clear: candidates that pass the CFA exam complete more mock exams – nearly two whole mock exams more in Level 1.
- Passing CFA exam candidates averaged nearly two more mock exams than candidates who failed in Level 1. This difference narrows to 1.5 mock exams in Level 2 and just 0.2 mock exams in Level 3.
- Passing candidates completed around 5 mock exams, which varies only slightly across all levels
Candidates who passed the CFA exams are also more likely to have met their mock exam targets
Here is the same chart again, but this time it also shows the average number of mock exams that were not completed by exam day:
This suggests that some failing candidates may have targeted enough mock exams to get them to pass, but had issues completing them on time.
You can prevent this from happening by having a robust study plan that leaves enough time for practice.
But what your exam day is coming soon, and you’re already running out of time?
Three methods to complete all your mock exams by CFA exam day
The Thorough Approach
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The Streamlined Approach
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The Speedy Approach
It is suitable for when you’re reviewing practice exams that you’ve already completed, or if you’re really rushing to complete all your mock exams before the actual exam.
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This ‘read only’ method allows you to really blitz through your mock exams, although it is by far the least thorough approach. Use it if there is no other way to fit in mock exams otherwise, or as a method to review already-completed mock exams.
Completing CFA Mock Exams: FAQ
If I’m using the Speedy approach, how do I do calculation questions?
You obviously lose out on calculator practice, but we’re assuming you’re trying to save time here.
Depending on how time-efficient you want to be, you can also choose to perform the calculations yourself before reviewing, but this will need significantly more time.
Should I be completing my CFA mock exams ‘closed-book’ or ‘open-book’?
Doing your mock exams ‘open-book’ would defeat a lot of the main purposes of mock exams:
- It’s not how CFA exam day is going to be like
- You won’t get a good idea of how well you’re doing, as your score would not representative of your ability
- You would not be highlighting your weak areas
- Going through mock exams will take even more time
More resources that can help you at the mock exam stage
- Make sure you complete our free mock exams – comes complete with grading and explained answers:
- Improve your mock exam score:
- Listen to the Proctor track while completing your mock exams to simulate an actual CFA exam hall.
Here’s to finishing all your mock exams by CFA exam day! If you need any more help, just reach out in the comments below.