Free CFA Level 1 Mock Exam

CFA mock exam for Level 1: try one full timed Mock 1 free — instant score included. November 11–17 is the last 2026 window. Lifetime or monthly access unlocks eight mock forms, topic breakdown, explanations, and analysis.

Practice a full timed session under computer-based testing conditions: 90 multiple-choice items, 2 hours 15 minutes (135 min), three answer choices (A, B, C). Topic allocation follows the 2026 Level 1 topic weights. Mock 1 always free (90 questions · score only) with a free account. Explanations, topic breakdown, Mocks 2–8, post-mock analysis, and topic drills from a 720+ bank unlock with lifetime or monthly access.

Next Level 1 window: 11–17 November 2026 (Level 1 exam dates). Level 2 next: 18–22 November 2026 (Level 2 dates). Level 3 next: 18–21 February 2027 (Level 3 dates).

Level 2 item-set mocks are live at CFA Level 2 mock exams; Level 3 mocks at CFA Level 3 mock exams. Each level has its own free Mock 1; lifetime access is separate per level.

Session specifications

• Items: 90 multiple-choice
• Time allowed: 2 hours 15 minutes (135 min)
• Choices per item: three (A, B, C) — no penalty for guessing
• Topic weights: 2026 Level 1 outline
• Delivery: computer-based (CBT), with flagging and a Section Review grid
• Calculator: on-screen TI BA II Plus in every mock
• Result: score free · topic breakdown and analysis with paid access

The real Level 1 exam is 180 items in two 135-minute sessions. Each of our mocks covers one full session block.

How to use this mock

1. Sit the session. Answer 90 items in 135 minutes. Navigate with Back / Next, flag items for review, open the on-screen BA II Plus, and open Section Review as needed.
2. Finish the section. Incomplete items are scored as incorrect — same rule as the computer-based exam.
3. Review the report. Study every miss. With lifetime access, use the weak-topic analysis and timing tells, then drill and sit another full mock before your appointment window.

Level 1 topics and weights

• Ethical and Professional Standards — 15–20% · Session 1
• Quantitative Methods — 6–9% · Session 1
• Economics — 6–9% · Session 1
• Financial Statement Analysis — 11–14% · Session 1
• Corporate Issuers — 6–9% · Session 1
• Equity Investments — 11–14% · Session 2
• Fixed Income — 11–14% · Session 2
• Derivatives — 5–8% · Session 2
• Alternative Investments — 7–10% · Session 2
• Portfolio Management — 8–12% · Session 2

Study resources

• Free CFA Level 1 mock exam — full timed Mock 1, score only
• CFA practice exam guide — when to start, timing and review
• CFA Level 1 exam fees — fee types, deadlines and retakes
• Level 1 study guide — one lesson per 93 learning modules (2026)
• Formula glossary — searchable Level 1 definitions and formulas
• Study blog — pass rates, formulas, ethics, and study plans
• Lifetime or monthly access — 8 full timed mocks, analysis, and topic drills

Popular guides

• Free CFA Mock Exam: Timed Level 1 Mock 1
• Free CFA Level 1 Sample Questions + Answers
• CFA Level 1 Fees 2026–27: $1,140–$1,490
• CFA Level 1 Feb 2027: Deadlines & Fees
• CFA Level 2 Exam Dates 2026–2027 (Next: Nov 18–22)
• CFA Level 3 Exam Dates 2026–2027 (Next: Feb 18–21)
• CFA Level 1 November 2026 Exam Dates (Nov 11–17)
• CFA Level 2 Mock Exam 2026 | Timed Item-Set Practice
• CFA Level 3 Mock Exam 2026 | Mixed Item Sets + Essays
• CFA L1+L2+L3 Lifetime Package — $349 (List $499)

Frequently asked questions

Is the CFA Level 1 mock exam free?

Yes. Mock Exam 1 is free with an account: a timed 90-question session with an instant score. No credit card is needed to start.

How many CFA mock exams come with paid access?

Paid Level 1 access unlocks all 8 timed mock exams, built from a bank of 720+ questions, with explanations, a topic breakdown and post-mock analysis.

Are these official CFA Institute mock tests?

No. CFA Mock Exam is independent practice software and is not affiliated with CFA Institute. Registered candidates also get official practice questions and mock exams from CFA Institute.

How should I use a CFA practice exam?

Sit it in one timed block, log every miss with the reason it happened, and revisit those topics before your next mock exam. The CFA practice exam guide explains when to start and how to review.

Curriculum coverage

The 2026 CFA® Level 1 outline — ten topics, 93 learning modules. Session 1: Ethics, Quantitative Methods, Economics, Financial Statement Analysis, Corporate Issuers. Session 2: Equity, Fixed Income, Derivatives, Alternatives, Portfolio Management.

Pricing

Level 1: $99 lifetime or $19/month. Levels 2 and 3: $199 lifetime or $29/month each. Lifetime is a one-time payment; monthly plans auto-renew and can be canceled anytime. Mock 1 always free (90 questions · score only) with a free account to start.

Refunds

7-day refund if you have not started any paid mock or topic drill. See the Terms of Use.

Target score

CFA Institute does not publish a passing score. Many candidates treat approximately 70% on mocks as a working target — not a guarantee.

Affiliation

CFA Mock Exam is independent practice software operated by Phi Digital LLC, a Wyoming limited liability company. It is not affiliated with, endorsed by, or sponsored by CFA Institute. CFA® and Chartered Financial Analyst® are trademarks of CFA Institute. About us · Contact