Free CFA Level 1 Mock Exam: 90 Questions & Full Solutions

free cfa level 1 mock exam
Zee Tan - 15 Jul 2026
CFA » CFA Level 1 » Free CFA Level 1 Mock Exam: 90 Questions & Full Solutions

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This free CFA Level 1 mock exam contains 90 practice questions weighted to match the official CFA Institute exam format.

Complete it in 2 hours 15 minutes and receive instant results via email, including your score, detailed answer explanations, topic-by-topic performance breakdown, and percentile ranking.

Available both online and as a downloadable PDF—no registration required.

Hope your CFA preparations are going to plan! If not, check out our guide to finishing up your notes, so that you can get started on practice exams.

For some practice, here is our updated, free CFA Level 1 mock exam that reflects the latest CFA exam curriculum. This is a 2 hour 15 minutes, 90-question CFA practice test weighted to the guidance set by CFA Institute for the actual CFA exam.

You can take the test online or download the PDF questions, with full answers and analysis included – all for free! After submitting your answers online, you’ll instantly be sent a personalized test result report and all answer explanations.

To access our free mock exams for other levels, check out our Free Guides section.

Why should I take a CFA Level 1 mock exam?

Based on our data from 15,000+ candidates who have taken our mock exams since 2020, students who score 65%+ on their first attempt have an 87% pass rate on the actual CFA exam. Those scoring 70%+ have a 93% pass rate.

Mock exams are the single most effective study tool in the final 4-6 weeks before your CFA exam. They help you identify knowledge gaps, practice time management, and build exam-day stamina for the 4.5-hour testing session.

Research shows candidates who complete at least 3-4 full mock exams score 15-20% higher than those who only review notes. Mock exams expose you to question formats and difficulty levels you won’t encounter in practice problems, helping you adapt to the pressure of exam conditions.

Taking this free mock exam early in your prep helps you establish a baseline score and create a targeted study plan. You’ll discover which topics require the most attention and can allocate your remaining study hours accordingly.

How does this free CFA Level 1 mock exam work?

free cfa level 1 mock exam

In your results email, you’ll also get a topic performance breakdown, showing areas of weakness and strength, so you’ll know which topics to focus on to help raise your overall exam performance.

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​You’ll also receive comparative statistics on where you stand with the rest of the sample, better informing you if you need to double down on revision!

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You can do this CFA Level 1 mock exam in two ways:

  • online (either right now via the form below, or bookmarking this page to come back later); or
  • offline, by downloading the PDF questions and submitting your answers below when done. 
Get the Free CFA Level 1 Mock Exam (PDF)

Either method is easy: All you need to do is just click through the questions below, fill in your details and click ‘Submit’.

Ready to test your CFA Level 1 knowledge?

Before you begin:

  • Set aside 2 hours 15 minutes of uninterrupted time
  • Have your CFA calculator ready (TI BA II Plus or HP 12C)
  • Close all study materials to simulate real exam conditions
  • Use scratch paper for calculations (just like the actual exam)
  • Don’t pause or look up answers—treat this like exam day
  • Complete all 90 questions below, then click Submit to receive your detailed results and performance analysis via email.

Best of luck! And if you’d like even more practice, remember that we also have a Guide to Practice Exams here.

Frequently asked questions about CFA Level 1 mock exams

How many CFA Level 1 mock exams should I take?

Most successful candidates complete 4-6 full mock exams in the 6 weeks before their exam date. Start with one mock exam 6-8 weeks out to establish your baseline, then take 3-5 additional mocks in the final 3-4 weeks, spacing them 3-5 days apart to allow time for review.

What’s the passing score on a CFA Level 1 mock exam?

While CFA Institute doesn’t publish passing scores, our 300Hours data suggests you should aim for 65-70% on quality mock exams to have a comfortable margin.

However, mock exam difficulty varies by provider, so focus on improvement over time rather than absolute scores. If you’re consistently scoring 60%+ on our mocks 2-3 weeks before exam day, you’re likely on track to pass.

How long does the CFA Level 1 exam take?

The CFA Level 1 exam consists of two 2.25-hour sessions (total 4.5 hours of testing time), with an optional break between sessions.

Each session contains 90 questions for a total of 180 questions. Our 90-question mock represents approximately one full session.

Is this mock exam harder or easier than the real CFA exam?

This mock exam is designed to match the difficulty and format of the actual CFA Level 1 exam.

Questions are written by approved prep providers to reflect real exam standards. Some candidates find certain topics harder or easier depending on their background, but overall difficulty should be comparable.

Can I retake this mock exam multiple times?

Yes, you can retake this mock exam as many times as you like. However, for the most accurate assessment, we recommend taking it under timed, exam-like conditions on your first attempt.

After reviewing the explanations, wait at least 2 weeks before retaking to avoid simply memorizing answers rather than understanding concepts.

Do I need to complete the mock exam in one sitting?

For the most realistic practice, we recommend completing the full 90 questions in one 2-hour-15-minute session without breaks.

However, if you’re early in your prep, you can complete it in sections. The online version allows you to pause and resume, though your submitted answers will only be scored once you complete all questions.

Should I use the PDF version or take the test online?

Both formats provide identical questions and comprehensive results. Take it online if you want the most exam-like experience (computer-based testing matches the actual CFA format).

Download the PDF if you prefer working on paper or want to save it for later. Either way, you’ll submit your answers online to receive instant results and analytics.

What’s included in the email results I receive?

Your email results include:
(1) Your overall score and percentage correct,
(2) Complete answer key with detailed explanations for every question,
(3) Topic-by-topic performance breakdown showing your strengths and weaknesses,
(4) Percentile ranking compared to other test-takers,
(5) Recommendations for which topics to focus on next.

Results are typically delivered within 5 minutes of submission.

Is this mock exam updated for the latest CFA curriculum?

Yes, this mock exam reflects the most recent CFA Level 1 curriculum and is updated annually to match CFA Institute’s topic weightings and learning outcome statements. The current version aligns with the 2026 CFA curriculum.

What if I don’t receive my results email?

Results emails are automatically sent within 5 minutes of submitting your answers. If you don’t receive yours, check your spam/junk folder first. If it’s not there, verify you entered your email address correctly and resubmit your answers.

Our system has a 99%+ delivery rate, so the issue is usually a typo in the email address or an overly aggressive spam filter.

How did you score in this practice exam? Was there any particular topics you found especially challenging? Tell us in the comments below!

Meanwhile, you may find these related articles of interest:

93 thoughts on “Free CFA Level 1 Mock Exam: 90 Questions & Full Solutions”

  2. Much appreciated for this learning opportunity. Could someone comment on the difficulty compared to the actual L1 exam?

    Reply

  5. So, do you guys make it a habit of not sending the responses until a student specifically asks for them in this comment section or what?

    Reply

  13. Question 45 also does not have the correct answer. Correct answer should be
    EBITDA Margin: Lower under an operating lease.
    Asset Turnover: Higher under an operating lease.

    Reply

    • Incorrect. $4.85 is the basics EPS calculation. Since the convertibles are anti dilutive, the answer would be to use the basic EPS as the diluted.

      Reply

  15. Hi, how can i contact with the supervisor of 300hours. I need more test bank about the CFA exam. Contact me, i really want to get more practice.

    Reply

  37. Q16 doesn’t have the correct answer as an option to choose from, but in the email then shows the correct answer. Looks like the DP is in the wrong place. This made me worried for spending time doing the rest of the exam if the questions/answers don’t align.

    Reply

  38. Good afternoon team, thank you so much for providing the mock questions to us inquisitive newbies. I would like to give the mock a go. Please could you share the answers to me as well?

    Thanks
    Brendan

    Reply

  44. Do y’all have any data as to the difficulty of this exam compared to other mock exams (i.e. Schweser, Wiley, CFA Institute)?

    Reply

    • Hi Will, no we don’t as there isn’t such a comparison to begin with. What candidates find difficult varies. IFT is a CFA Institute approved prep provider and we have looked and checked through their questions quality, variety and explanations. That’s why we are sharing it here as a free resource for ou rreaders.

      Reply

  45. Hello, thank you for providing a free mock, i attempted it just now. I have one doubt, after attempting the mock on the google survey, it says i got 62 out of 90 correct but the detailed result mailed to me says i got 66 correct out of 90, can i get please get a explanation.

    Reply

    • i figured it out, so some questions that i actually got wrong were shown as if i chose the correct option in the detailed result.
      300Hours please kindly look into it.

      Reply

      • Hi prathamesh, thanks for letting us know.

        I’m rather scratching my head on this one. I’ve just submitted a test submission, replicating your answers exactly. Both on-screen scores and emailed detailed scores show 66/90 questions. However, your entry record DOES show that the on-screen score shown to you when you did it was 62/90.

        You mentioned that you figured out that some questions that you actually got wrong were shown as if you chose the correct option in the detailed result. Can you let me know which questions were these? That would help me hunt down what went wrong, otherwise I’m inclined to chalk it up as a weird tech burp.

        Reply

    • Hi! We’ve not received a submission under your email address I’m afraid. The mock submissions seem to be working fine – if you resubmit you should get your analysis and detailed answers sent to your inbox. Hope that helps!

      Reply

    • Hi Chirayu3, just continue scrolling down? We display all the questions in one page and you can only find the Submit button after completing 60 questions. Hope this helps!

      Reply

  49. I submitted level 1 mock exam. I see the answers, but would love to have the explanations/calculations.

    Thanks

    Reply

  51. Your practice tests with answers are highly productive contribution to our study. I shall be grateful if you could increase questions from 120 to 250.

    Reply

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