CFA Exam Sample Questions
CFA exam sample questions are provided for potential candidates to survey the rigor and question formats of each exam.
Candidates should remember that:
- Actual past exams are rarely a good resource for exam preparation.
- The curriculum has changed.
- Exam style and formatting convention improvements have been made.
- Accounting rules and the financial environment have changed.
- Level III essay guideline answers are often more detailed than would be required for full credit on an examination. Bullet points and incomplete sentences are acceptable in candidate answers as long as the meaning is clear and directly responsive to the question. Guideline answers may also include an alternative approach(s) that received full credit.
Note: All the following links open Adobe PDF documents.
Level I (multiple choice):
Level II (item set):
Level III exams consists of both item set questions and essay questions
For more candidate preparation, learn about our online sample and mock exams.