Sample exams help you assess your preparation and are intended to be taken after you have worked through the complete CFA Program curriculum at least once, but before you take the mock exam.

Sample exams - all levels

Fee: US$40 per exam; two versions available
After both versions have been taken, the fee is US$20 to retake an exam
Available online, to enrolled candidates only
Timed: 120 minutes per exam
Reflect the current curriculum and the format of the actual exam
Similar level of difficulty and weight per topic as on the actual exam
Immediate feedback
Actual questions from past exams included

Level I Sample Exams
All assigned topics covered
60 multiple choice questions per exam (two versions offered)
Availability:
June 2011 exam: Available now

Level II Sample Exams
A range of assigned topics covered on each exam – not all
5 item sets per exam, 6 questions per item set (30 questions per exam
Availability:
June 2011 exam: Available now

Level III Sample Exams
A range of assigned topics covered on each exam – not all.
5 item sets per exam, 6 questions per item set (30 questions per exam)
Availability:
June 2011candidates: Available now

Sample exam feedback
After each question on the sample exam, you will receive feedback that indicates the correct response, references to the relevant assigned curriculum and learning outcome statements (LOS), and an explanation of the correct answer. You will not be able to print these pages.

The feedback after each question is designed to help you understand the rationale for the correct answer before you move on to the next question. Remember, your test is being timed, and reviewing your feedback does not stop the clock.

After you complete the sample exam, you will receive:

printable feedback on your overall performance on the exam
a topic-level breakdown of your performance
a listing of the references and learning outcome statements for each question on the exam
links to assist you in further preparation for the actual exam.
The online sample exam is intended only as a representation of the actual exam. Performance on a sample exam should not be used in any way to predict performance on the actual exam.