CFA Practice Questions
Practise 5 CFA Level I skills and 34 questions across quantitative methods, ethical standards, and equity and fixed income basics.
What the CFA is
The CFA programme is the investment industry’s benchmark qualification, run by CFA Institute across three sequential levels. It is aimed at people working in or moving into portfolio management, equity research, asset management and investment banking.
Level I is broad rather than deep: ten topic areas examined by multiple choice, with ethical and professional standards carrying real weight in the result. Most candidates underestimate ethics precisely because it looks like reading rather than technique.
Our CFA practice covers Level I foundations — quantitative methods, ethical standards, and equity and fixed income basics. It is concept drilling to sit alongside the curriculum readings, not a substitute for them and not a mock exam service.
Who the CFA serves
Registered candidates building the quantitative and ethical foundations before the exam.
Graduates entering investment roles who need the CFA vocabulary and calculations to become automatic.
Professionals in Ghana and across Africa moving into research, advisory or portfolio roles.
People weighing the CFA against ACCA or CIMA who want to test the material before committing.
Subjects available
CFA content currently available, with live skill and question counts. Coverage is Level I foundations only.
Skills learners can practise
- Time value of money and discounting
- Statistical concepts and market returns
- Probability and sampling
- Hypothesis testing fundamentals
- The Code of Ethics and Standards of Professional Conduct
- Applying the Standards to practical scenarios
- Equity markets, indexes and valuation basics
- Fixed income features, pricing and yield measures
How SmartScore works
Every skill begins on a SmartScore of 0. Nothing is assumed about what you already know, so the score reflects your work and nothing else.
A correct answer pushes the score up; a wrong one pulls it back. Harder questions move the score further, so guessing your way up is not possible.
A worked explanation appears after each question — right or wrong — so the score rises because your understanding rose, not because you memorised an answer key.
A SmartScore of 100 means the skill is mastered. Your dashboard shows which skills are done and which still need work, so revision time goes where it counts.
Ethics is the topic candidates most often revise passively and then lose marks on. Because SmartScore only moves when you apply a standard correctly to a scenario, it exposes the gap between having read the Code and being able to use it.
Sample practice
Every link below opens without an account, so you can see the content before you decide to sign up.
Try the question format and SmartScore before creating an account.
Quantitative methods, ethical standards, and equity and fixed income basics.
Market structures, money and macroeconomics underpinning the economics topic area.
The reporting foundations behind financial statement analysis.
Algebra, series and calculus to sharpen the quantitative methods work.
CFA curriculum information
- Run by
- CFA Institute
- Structure
- Three sequential levels, each of which must be passed before moving on
- Level I format
- Multiple-choice questions across the full curriculum, delivered by computer
- Later levels
- Level II is vignette-based item sets; Level III combines constructed response with item sets
- Topic areas
- Ten areas including ethics, quantitative methods, economics, financial statement analysis, equity, fixed income, derivatives, alternatives and portfolio management
- Experience
- Qualified work experience is required for the charter, commonly stated as four thousand hours over a minimum of thirty-six months
- Used for
- Careers in investment analysis, portfolio management, research and asset management
CFA Institute revises the curriculum, exam windows and eligibility rules each cycle. Work from the official curriculum for your registered exam window rather than from any summary, including this one.
Curriculum information written and last reviewed line by line by the DigiTransact Mastermind editorial team on · next review due · which content receives human review
Frequently asked questions
How much CFA practice is available?
Currently 5 skills and 34 questions, all at Level I foundation depth across quantitative methods, ethics, equity and fixed income. The live counts on this page are the honest measure of its size.
Does it cover Level II and Level III?
No. Practice is Level I foundations only. Level II item sets and Level III constructed response are not covered.
Is this affiliated with CFA Institute?
No. DigiTransact Mastermind is independent and has no affiliation with CFA Institute. CFA and Chartered Financial Analyst are trademarks owned by CFA Institute.
Is Level I really about memorising formulas?
Less than people expect. The formulas matter, but the marks concentrate where you have to choose the right tool for a scenario — which is why practice on applied questions beats re-reading the curriculum.
Related subjects
Free courses and school tools for CFA
Open university courses that cover the same ground, plus the teacher side of the platform.
Related reading
How the CFA compares with ACCA and CIMA, and which career each one opens.
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Relevant if a finance degree abroad is part of your route to the charter.
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Other examinations
How this page was produced
A person on the DigiTransact Mastermind editorial team wrote this page and read it line by line before it was published.
- Written by
- DigiTransact Mastermind editorial team
- Human review
- Yes — read line by line before publication. See which content receives human review.
- Last reviewed
- Next review due
Spotted a mistake on this page? Report a content correction and we will check it against the source. You can also read our editorial policy and how we use AI and where it falls short.
Start your CFA practice free
34 questions across 5 skills, with instant explanations and a SmartScore on every one.