Practice Smarter with UWorld CFA® Sample Questions

CFA® sample questions, practice exams, and test-style explanations – all designed to help you learn faster and perform better. Try them for free with UWorld Finance.

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You’ve tried our sample questions—now experience the full power of UWorld’s CFA prep.

Our complete course is designed to deepen your understanding, improve retention, and ensure you’re fully prepared on exam day.

Benefits of Practicing Exam-Like Questions

Our CFA exam questions and answer explanations prepared by practicing CFA charterholders with industry and educational experience, mirrors all exam question types and teaches crucial CFA concepts.

Benefit From Active and Visual Learning

Our learn-by-doing philosophy is paired with industry-leading illustrations to help you retain more information in less time

Customize Quizzes to Your Needs

Set up custom quizzes based on your study schedule and proficiency with “Create Test” mode

Learn From UWorld Answer Explanations

Created by our experts, the comprehensive answer rationales explain the why behind the problem

Experience the Future of CFA® Exam Prep

The finance world never stands still—regulations evolve, technology advances, and new skills are in constant demand. UWorld, now joined by Wiley Efficient Learning, delivers a modern approach to CFA® prep with innovative tools and continuously updated content. Our platform is built to help you stay ahead of the curve and confidently tackle the exam.

Carry expert-led lectures wherever you go. Swap social media scrolling for a bite-sized study session. Review a video in the back of an Uber or on your lunch break. Pause, speed up, and rewind—Watch at your own pace anytime, anywhere.

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Access CFA practice questions written by our dedicated team of charterholders to meet or exceed exam-level difficulty. Each question is routinely updated to reflect the current exam format and CFA Institute learning outcome statements.

Level 1 QBank |  Level 2 QBankLevel 3 Qbank

What if you could take the CFA exam before you took the CFA exam? We've developed an extensive library of exam-like practice questions and meticulously replicated every detail of the exam day experience—interface, question format, difficulty level, number of questions, time constraints, and topic weighting.

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Identify knowledge gaps with advanced performance analytics so you don’t waste time studying what you already know. Track your progress by subject and topic, compare your results with peers, and feel confident going into the exam.

Create unlimited, customizable digital flashcards or use our pre-loaded ReadyDeck. Highlight and transfer source content to the front or back, add unique notes, and organize by subject, topic, or custom tag. Rate your understanding of each flashcard and let spaced-repetition technology adjust the frequency with which it's presented based on your proficiency. 

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Get a New CFA Exam Question in Your Inbox Every Week

Stay on track with UWorld’s Weekly CFA® Question—expert-created, exam-style, and complete with detailed explanations to strengthen your prep.

Explore CFA® Sample Questions by Topic

Practice smarter by targeting specific subjects. Click through to try topic-based sample questions aligned with CFA Institute LOS.

Ethical & Professional Standards

Sharpen your understanding of ethics, professional conduct, and GIPS.

Try Ethics sample questions

Quantitative Methods

Strengthen your grasp on probability, statistics, time value of money, and regression analysis.

Try Quantitative Methods sample questions

Economics

Test your knowledge of microeconomics, macroeconomics, and global economic systems.

Try Economics sample questions

Financial Reporting & Analysis (FRA)

Master financial statements, ratios, cash flows, and accounting standards.

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Corporate Finance

Practice questions on capital budgeting, cost of capital, working capital management, and corporate governance.

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Equity Investments

Assess your skills in valuation models, equity markets, and industry/sector analysis.

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Fixed Income

Work through bond pricing, yield curves, duration, and credit analysis.

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Derivatives

Understand forwards, futures, options, and swaps through CFA-style practice questions.

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Alternative Investments

Evaluate hedge funds, private equity, real estate, and commodities.

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Portfolio Management

Build your understanding of portfolio theory, risk management, and the investment policy statement.

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Hear From Our Past CFA Candidates

Frequently Asked Questions

UWorld CFA is a CFA Institute Approved Prep Provider, meaning our content adheres to the latest LOS. Questions and explanations are written by active CFAs and finance educators to reflect the exam format.
There are three question types across the three CFA exam levels: multiple-choice, vignettes with associated MCQs, and constructed-response questions. Our Qbank questions prepare candidates for the types of questions they’ll see on each exam.
The CFA exam scoring process is not as straightforward as simply receiving a numerical score. After a multi-step process, a minimum passing score (MPS) is determined and applied to all graded exams. In recent years, it’s been estimated that Levels 1 and 2 have had a MPS of close to 70%, while Level 3 has had a MPS of close to 60%.
When preparing for the CFA exam, the quality of the questions you practice is more important than the quantity. This is why all UWorld CFA sample questions are modeled after their associated exams and come with detailed answer explanations. That said, candidates should still expect to go through thousands of questions during their study process to cover all LOS.
While some CFA exam questions may be reused, candidates should not count on this in their study plan. Candidates should note that concepts are the same yearly, barring CFA Institute LOS updates. UWorld CFA content creators pay close attention to these changes and automatically modify our products to ensure candidates learn only what they’re expected to know for their exams. Therefore, it’s essential for candidates to always use the latest version of any study materials corresponding to their exam year.
CFA Level 1 consists of 180 multiple-choice questions split between two 135-minute sessions. UWorld CFA offers candidates thousands of relevant Level 1 questions with detailed answer explanations.
CFA Level 2 consists of 22 vignettes with 88 corresponding multiple-choice questions split between two sessions lasting 2 hours and 12 minutes. UWorld CFA offers candidates hundreds of vignette-style questions with comprehensive explanations.
Overall, the Level III exam contains 11 item sets and 11 essay sets for 12 points each. Each session will have either 6 item sets and 5 essay sets or 5 item sets and 6 essay sets. This mixed distribution of item types across the two exam sessions creates a more-balanced delivery of questions throughout the exam.
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