CFA Exam Prep Quiz | Test Yourself Now with Realistic Questions

CFA Exam Prep Quiz: Test Yourself Now with Realistic Questions
Take our free CFA prep quiz and test your exam readiness. Includes Level 1 questions with expert explanations to help you study smarter and pass with confidence.
CFA Exam Prep Quiz: Test Yourself Now with Realistic Questions

Why Quizzing Is Key to CFA Exam Success

The CFA exam doesn’t just test your knowledge—it tests your ability to recall, reason, and apply concepts under pressure. Regular quizzes are a proven way to:

  • Improve retention through active recall
  • Practice time management
  • Discover and strengthen your weakest areas

This quiz will give you a quick benchmark of your current readiness.

What to Expect in This CFA Prep Quiz

This short 5-question quiz features realistic Level 1-style questions. Each one includes:

  • A multiple-choice stem
  • The correct answer
  • A brief, clear explanation
  • Coverage across Ethics, Quant, FRA, Economics, and Portfolio Management

CFA Practice Quiz – 5 Questions with Answers

1. Ethics

A portfolio manager guarantees a client a 12% return with no risk. Which CFA Code of Ethics standard is violated?

Explanation: Promising guaranteed returns is misleading and violates Standard I(C): Misrepresentation.

2. Quantitative Methods

What is the future value of $2,000 invested for 3 years at an annual rate of 6% compounded annually?

Explanation: FV = PV × (1 + r)^n = 2,000 × (1.06)^3 ≈ $2,381.20

3. Financial Reporting & Analysis

If a firm uses LIFO in a period of rising prices, how will this affect reported net income compared to FIFO?

Explanation: LIFO assigns higher costs to inventory sold, reducing gross and net income during inflation.

4. Economics

A country’s currency depreciates. What’s the most likely short-term effect on its trade balance?

Explanation: A weaker currency makes exports cheaper and imports more expensive, improving the trade balance.

5. Portfolio Management

Which of the following portfolios is most efficient according to Modern Portfolio Theory?

Explanation: An efficient portfolio maximizes return at each level of risk along the efficient frontier.

How to Use Quiz Results to Improve Your Prep

If you got:

  • 5/5: You’re tracking well—try a full mock next.
  • 3–4/5: Solid base—focus on your weaker areas.
  • 1–2/5: Time to revisit core topics and reinforce with more practice.
Pro tip:Track missed questions, create flashcards, and retake weekly quizzes to improve retention and confidence.

Why UWorld Quizzing Is Better Than PDFs or Textbooks

UWorld’s platform is more than a practice tool—it’s a learning engine.

  • Real CFA interface
  • Adaptive feedback on weak topics
  • Full explanations for right and wrong answers
  • Smart analytics and performance tracking
“UWorld quizzes showed me where I was wasting time. That clarity helped me pass.”
— Reddit user, /r/CFA

Final Thoughts: Practice Like It’s the Real Thing

Mini quizzes give you a quick pulse check. Full-length mocks test your stamina. UWorld gives you both—plus insights on how to improve every time you click “Submit.”

Try the quiz mode built for CFA success.
Train smart. Pass confidently.

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