The CFA® exam is extremely difficult— over the past 2 years, less than half of all takers pass each level of this 3-part exam, according to data gathered by the CFA Institute.
This doesn’t mean that passing is impossible; all it means is that you should take your CFA exam preparation seriously.
A good CFA® mock exam will help you become familiar with the structure and content of the exam, allow you to figure out what you still need to study, and give you an idea of how much time you will have for each question.
The more CFA® practice exams you take under similar conditions to those of the actual exam, the more comfortable and prepared you will feel on your official test day.
So check out our top recommendations of CFA mock exam providers below!
Top 3 Best CFA® Practice Exams
1. Wiley CFA® Mock Exams Review
Wiley’s expert instructors and well made platform ensure that you’re always working on your weaknesses. Their CFA mock questions are uniquely tailored for this purpose, and have helped thousands of students accomplish their career goals.
Wiley CFA® Course Details
Wiley’s practice exams come with a great deal of additional help. Whenever you struggle with a problem you can easily contact an instructor for help working through it. Plus, you can create custom exams focusing on the content areas you need to work on. This ensures that you’re constantly shoring up your weak areas and reinforcing what you’ve learned while studying for the CFA exam using the Wiley CFA prep course. Best of all, you can take as long as you like with unlimited access— so you’ll never be cut off from the study materials you need.
- Expert Mentoring
- 6 Mock Exams
- 2,000+ Practice Problems
- Mobile Access
- Personalized Platform
Wiley CFA® Pros and Cons
- Expert Mentoring: Students have access to highly experienced CFAs whenever they need help working through their study materials.
- Unlimited Course Access: No one will ever be cut off from Wiley materials while they still need them. All courses come with unlimited access until you pass.
- Personalized Platform: Wiley’s program is personalized so you’re always focusing on the content areas where you need the most help.
Bottom Line: Wiley is the best option for anyone looking for well made CFA practice exams. Check them out if you want to build confidence and achieve results in your financial analyst career!
2. Analyst Prep CFA® Sample Exam Test Bank
Analyst Prep’s exams can be customized and even printed out before you take them. This offers a unique advantage that isn’t replicated in other online courses.
Analyst Prep CFA® Practice Exam Details
Analyst Prep’s tests focus on creating custom content to suit your individual academic needs. You can easily make quizzes based on certain content areas and set whatever time limit you like. This gives you much more control when studying compared to other courses. On top of that, each full length practice exam can be printed out and completed offline. This is a great way to limit distractions while you’re studying for your CFA exam, which Analyst Prep’s CFA test prep can also help with.
Analyst Prep Features
- 3,000 Practice Problems
- 4 Mock Exams
- Printable Tests
- Custom Quizzes
- Performance Tracking
Analyst Prep CFA® Pros and Cons
- Printable Mock Exams: All practice exams can be printed out and completed offline. This allows you to reduce distractions while working through each question, which can help you adjust to actual exam day conditions.
- Custom Quizzes: Students can create quizzes with custom content and time limits. This allows you to hone in on specific subjects and eliminate any knowledge gaps before sitting for the full exam.
- Limited Help: Students can only ask for help from an instructor 5 times while studying with these practice exams. This should be enough to resolve most issues, but having to pay extra for future assistance is worth keeping in mind before you sign up.
Bottom Line: Analyst Prep is a good choice for anyone who just wants to work through traditional practice tests. They offer distraction-free studying and the ability to drill specific concepts.
3. Salt Solutions CFA® Practice Exams
Salt Solutions makes learning easy through their multistage study program. This offers a more guided process that goes beyond simply answering practice questions on a mock exam.
Salt Solutions Mock Exam Details
Salt Solutions splits their platform into 2 major content areas. The initial Learn phase consists of short weekly video lessons and study manuals that teach you the content you need to know for the exam. After that you’ll shift into the Focus phase. This relies heavily on practice exams and review materials to ensure that you’ve mastered each concept. Students can easily build up test taking experience through this stage.
Salt Solutions Features
- 2000+ Practice Questions
- 9 Mock Exams
- 2 Stage Learning
- Video Answer Explanations
- Targeted Lessons
Salt Solutions Pros and Cons
- 2 Phase Study Plan: Salt Solutions splits their course into Learn and Focus phases. The Learn phase has you work through initial material in small chunks, and the Focus phase helps you strengthen what you’ve already learned. This two-prong approach is highly effective and keeps you from getting burned out.
- Video Answer Explanations: The toughest practice questions come with a detailed video explanation for what the solution is and how it should be found. This is a step above written answer explanations included with other online prep courses.
- Price: Salt Solutions’ platform is much more expensive compared to other options. You must either pay a one time charge of $599 or $129 each month— either option has it’s benefits, but there are cheaper packages offered by both Wiley and Analyst Prep.
Bottom Line: Salt Solutions is a great program for anyone who wants a more focused study experience.
The Most Important Reasons to Study With CFA Mock Exams
Not sure if you need to use mock exams to study for the CFA exam? Consider these reasons why they may be the most essential step towards passing!
1. Learning the Test Format
Your first few practice exams will likely take a lot longer to complete compared to the others. This is because you’ll gradually become familiar with the test format and will need to spend less time on each question.
2. Reinforcing Your Current Knowledge
Mock exams are a great way of remembering everything you’ve learned while studying. Applying the knowledge when problem solving ensures that everything sticks in your head. That way you won’t find yourself forgetting important details on your actual CFA exam date.
3. Discover Important Study Areas
Practice tests are an excellent way to find out which content areas you excel in and where you need to study harder. Your test results will show you exactly where you need to shift your study focus. Plus, you can also see what areas you’ve already mastered and shift your focus away from them.
4. Building Test Taking Skills
Most practice exams will mimic the format of the CFA as closely as possible. That makes them a good tool for learning the best ways to approach each question type. Gaining experience with a CFA sample exam now will save you time and help you get a higher score when working through the real thing on your test date.
5. Building Your Confidence
It can be daunting to sit down for your first attempt at the CFA exam. Practice exams that mimic the conditions of the actual exams will help you get used to that experience and build up confidence while you study. Thanks to that, you shouldn’t have any problems with nerves when the time comes to earn your certification.
CFA Level 2 Mock Exams: Your Key to Passing the Exam
The CFA (Chartered Financial Analyst) program is one of the most prestigious and respected credentials in the finance industry. To earn the CFA designation, you must pass three levels of exams, with Level 2 being particularly challenging. Many candidates find Level 2 to be the most difficult of the three, due to its emphasis on applying concepts rather than just memorizing them. However, with proper preparation and the use of mock exams, you can increase your chances of passing the exam on your first attempt.
What are CFA Level 2 Mock Exams?
Mock exams are practice exams that simulate the actual CFA Level 2 exam. They are designed to help you gauge your readiness for the real exam and identify areas where you need to improve. Mock exams are typically made up of multiple-choice questions and are timed to match the actual exam duration. You can take mock exams as many times as you want to build your confidence and proficiency.
Best CFA Level 2 Mock Exams of 2023
1. Wiley CFA Level 2 Mock Exams
3. Analyst Prep Level 2 Practice Exams
Benefits of Using CFA Level 2 Mock Exams
There are several benefits to using mock exams as part of your CFA Level 2 exam preparation:
- Identifying Knowledge Gaps: Mock exams can help you identify areas where you need to improve your knowledge. If you consistently get questions wrong on a particular topic, it may indicate that you need to spend more time studying that area.
- Time Management: The CFA Level 2 exam is known for its time pressure, and mock exams can help you develop better time management skills. By practicing with timed exams, you can learn to pace yourself and avoid running out of time on the actual exam.
- Exam Day Simulation: Mock exams provide a realistic simulation of the actual exam experience. By taking mock exams under test-like conditions, you can reduce exam-day anxiety and improve your chances of success.
- Confidence Building: The more mock exams you take, the more comfortable you will become with the exam format and the types of questions you are likely to encounter. This can help build your confidence and reduce test-day nerves.
Tips for Using CFA Level 2 Mock Exams
Here are some tips to help you get the most out of CFA Level 2 mock exams:
- Practice under timed conditions: To simulate the actual exam experience, make sure you take mock exams under timed conditions. This will help you get used to the time pressure and avoid running out of time on the actual exam.
- Analyze your results: After each mock exam, take the time to analyze your results. Identify areas where you did well and areas where you need to improve. This will help you focus your studying and improve your chances of success.
- Take multiple mock exams: The more mock exams you take, the more comfortable you will become with the exam format and the types of questions you are likely to encounter. Aim to take at least two or three mock exams before the actual exam.
- Use mock exams as a tool, not a crutch: While mock exams are a valuable tool for exam preparation, they should not be relied on exclusively. Make sure you also spend time studying the material thoroughly and practicing problems on your own.
In conclusion, CFA Level 2 mock exams are an essential tool for anyone preparing to take the CFA Level 2 exam. They provide a realistic simulation of the actual exam experience and can help you identify knowledge gaps, improve your time management skills, and build your confidence. By following the tips above and using mock exams as part of a comprehensive study plan, you can increase your chances of passing the CFA Level 2 exam on your first attempt.
CFA Level 3 Mock Exams: How They Can Help You Pass
Passing the CFA (Chartered Financial Analyst) Level 3 exam is the final step in earning the coveted CFA designation. This level requires a deep understanding of portfolio management and advanced investment strategies, making it a challenging exam. One effective tool for preparing for the CFA Level 3 exam is the use of mock exams. In this article, we’ll discuss how CFA Level 3 mock exams can help you pass the exam and provide tips for making the most of them.
What are CFA Level 3 Mock Exams?
CFA Level 3 mock exams are practice exams that simulate the format and content of the actual exam. They typically consist of essay questions and item sets, with a focus on portfolio management and advanced investment strategies. Mock exams are designed to test your knowledge and application of key concepts, as well as your ability to effectively communicate your ideas in writing.
Best CFA Level 3 Mock Exams of 2023
1. Wiley CFA Level 3 Mock Exams
2. Kaplan Schweser Level 3 Mock Exam
3. Analyst Prep Level 3 Practice Exams
Benefits of Using CFA Level 3 Mock Exams
Here are some additional benefits of using mock exams for CFA Level 3 exam preparation:
- Improving Your Writing Skills: One of the unique features of the CFA Level 3 exam is that it includes essay questions. Mock exams provide an opportunity to practice your writing skills and ensure that you are able to clearly and concisely communicate your ideas.
- Building Your Confidence: Taking mock exams can help build your confidence and reduce test-day nerves. By simulating the actual exam experience, you can become more comfortable with the format and reduce anxiety.
- Identifying Weaknesses: Mock exams can help you identify areas where you need to improve your understanding or application of key concepts. This can help you focus your studying and improve your chances of passing the actual exam.
- Testing Your Time Management: Like the other levels, CFA Level 3 exam is also known for its time pressure, and mock exams can help you develop better time management skills. By practicing with timed exams, you can learn to pace yourself and avoid running out of time on the actual exam.
Tips for Using CFA Level 3 Mock Exams
- Practice Writing: Essay questions require effective writing skills, so be sure to practice writing answers to essay questions. Review the grading rubric for the essay questions to understand what the examiners are looking for in a good answer.
- Analyze Your Results: After taking mock exams, analyze your results to identify areas where you need to improve. Focus your studying on these areas to ensure you are fully prepared for the actual exam.
- Take Multiple Mock Exams: Take multiple mock exams to build your comfort level with the format and questions you may encounter on the actual exam.
- Take Time to Review: After taking a mock exam, take the time to review the questions and answers. This will help you identify any misunderstandings or errors, and improve your understanding of key concepts.
In conclusion, CFA Level 3 mock exams are a valuable tool for anyone preparing for the exam. They can help you improve your writing skills, identify weaknesses, build your confidence, and develop time management skills. By following the tips above and making mock exams a regular part of your study routine, you can increase your chances of passing the CFA Level 3 exam and earning the CFA designation.