CFA Level 1 Practice TestAce The CFA Level 1 On First Try

A prerequisite for becoming a Chartered Financial Analyst (CFA), CFA Level 1 is your ticket to the world of finance. It provides you with the fundamental knowledge of economics, ethics, and financial reporting. As a prospective applicant, we are here to help you navigate this important phase, making the process easier and setting you up for success.

From 2024 to 2025, the CFA Program will undergo a major makeover. Condensed into a handy summary for your convenience, IMS Proschool has updated the CFA Level 1 curriculum for 2024. It means that there will be major modifications to CFA Level 1 in 2024.

• Integration of Learning Modules: All subjects in CFA Level 1 now require the use of Learning Modules (LMs), which provide a more organized and doable study strategy.
• Content Simplification: Foundational subjects such as microeconomics, fundamental statistics, time-value of money, and introductory company accounts are offered separately for reference. In line with the needs of candidates, this maximizes exam time for more complex ideas and useful modules.
• Companion Pre-Read Content: These materials are provided without charge and help candidates who want to improve their preparation by going over or filling in any knowledge gaps they may have throughout their Level I studies.

All applicants taking examinations in 2024 and beyond will be evaluated using the most recent Level I curriculum.

What about the passing score? The purpose of credentialing programs, as per the CFA Institute, is to assess whether a candidate has the necessary knowledge, skills, and abilities to perform a specific job function. They are not designed to measure how well an individual performs on those skills. The aim is to establish a dependable standard for the required knowledge, skills, and abilities, although the MPS (minimum passing score) may vary slightly from year to year based on the difficulty level of the questions posed. 

How Is CFA Level 1 Certification Worth It?

Each certification is valuable in a specific domain, so if you are pursuing a career path in the financial field, CFA Level 1 certification must set you apart from other candidates. Let’s see how much it costs.

• Obtain an internationally recognized credential

One of the most valuable degrees in the finance industry is the Chartered Financial Analyst qualification, which is acknowledged worldwide. With more than 135,000 investment and financial professionals in its global network at present, CFA is predicted to continue expanding quickly in the next few years. The CFA Institute, a US-based organization with recognition in more than 30 nations and territories, bestows the CFA charter. You can easily grow your career abroad and find chances in over 164 countries in Asia, Europe, and North America by passing the CFA certificate.

• The CFA Institute's learning environment

Candidates who have registered can access the Learning Ecosystem, an interactive study tool. It includes practical resources to help you stay focused and diligent during your preparation, like a study schedule, progress tracker, flashcards, mock tests, and learning activities. As long as you are enrolled as a CFA candidate, you can use the platform.

• CFA is regarded as the gold standard in finance and investment.

The CFA program is undoubtedly one of the most prestigious and respected programs available to finance professionals among all the other degrees that are given exclusively to them. A CFA charter holder is often regarded as an authority in every facet of the finance industry and is frequently a sign of the caliber of work produced by a finance professional. There will be an infinite amount of chances available to you once you successfully complete CFA.

• Boost your employment opportunities

The CFA charter will only enhance your future job possibilities, even if you are currently employed as a financial professional. It is anticipated that your level of compensation will rise dramatically upon completing each CFA level. Additionally, you stand a better chance of moving up the corporate ladder, particularly if you have prior relevant work experience. 

Therefore, if you would like to become certified, let’s prepare for the CFA exam right now. Coming to our online CFA Level 1 practice exam, you are provided with a user-friendly platform to practice. These practice tests are likely to be close to real tests that help you consolidate your knowledge before testing. Let’s give it a try. 

What Our CFA Level 1 Practice Test Includes

Let’s take an overview of our practice examination. 

Overall, when it comes to the homepage of our website, what catches your eyes at first sight are two main sections: “Practice CFA Level 1 Test By Topics” and “Take Full CFA Level 1 Practice Test”. To meet the learners’ needs, the former functions as learning materials that are categorized into different topics or domains covering nearly CFA Level 1 knowledge for practice. The latter mimics the real exam to check learners’ outcomes and create a chance for a mock test before taking the real one. 

Practice CFA Level 1 Test By Topics

The practice CFA Level 1 test includes a combination of subtests labeled:

• Ethical and Professional Standards
• Quantitative Methods
• Economics
• Financial Statement Analysis
• Corporate Issuers
• Portfolio Management 
• Equity Investments
• Fixed Income
• Derivative
• Alternative Investments

Each test is divided into 7 levels and 2 tests, are divided into 2 stages. Stage 1 includes the first 3 levels and a mini-test. Stage 2 includes the remaining levels and a final test. Each level includes 10 multiple-choice questions. The mini-test consists of approximately 30 questions covering knowledge of the whole first stage. The final test normally includes roughly 70 questions covering knowledge of the whole topic. 

Remember! Our results recording system will notify you of the results you have achieved after your first attempt, for example, 6/10. However, you must answer all questions correctly to be allowed to move to the next level. Hence, you are allowed to do it again more than once and the false questions will automatically return until you correct all of them. Of course, if you are confident in any topic, you can skip levels and move to the mini-test or the final test immediately. 

An extremely appreciated feature of our website is that after each question in the practice section, learners will immediately know whether their results are correct or incorrect. Furthermore, there will be an extremely detailed explanation for the question, which is right below the question section.

Take the Full CFA Level 1 Practice Test

After practicing proficiently in the practice section introduced above, learners can choose a "full test" to check their current level. The CFA Level 1 mimics the real exam format.

The test includes 180 multiple-choice questions within 4 hours and 30 minutes. Contestants will take the test within the allotted time frame. The clock placed right above the question section helps test takers be proactive in managing their exam time. 

An outstanding feature is that test takers will not immediately know the results of each question in this part like in the practice one. After completing all the questions and receiving the final results, test takers will have the opportunity to review all the questions to see which ones they got right and which ones they got wrong. Detailed explanations for the answers are also attached right below each question. This helps test takers review knowledge more deeply and gain experience for the next test, especially in the real exam.

For convenience of use, we also released a mobile version of the application. Operations in the phone application remain the same as on the website. The only difference is that after completing the questions, you must click “Submit” to receive the final results of the test.

Practicing before taking any exam is extremely necessary. Finding a reputable and effective learning source is even more important. Each choice you make can determine success or failure. Trust me! The CFA Level 1 practice exam will accompany you on the path to passing the CFA Level 1. Don't wait any longer, download the CFA Level 1 application on the App Store or Google Play or directly go to the website https://easy-prep.org/free-cfa-level-1-practice-exam.