If you are preparing for the CFA, taking a mock exam will give you a taste of the real thing and will help you focus your studying. In fact, it is best to take several mock exams so that you can track your progress and refocus your study schedule. Websites like CrushTheFinancialAnalystExam.com offer practice and mock CFA exams to help you study. Here are a few places where you can find mock exams:
CFA Institute: The CFA institute offers topic tests, as well as mock exams, that are free to students who have registered for the CFA as well as a CFA study program. The topic tests are shorter than the actual exam and are designed to help you gage your knowledge, while the mock exam mimics the actual test and provides brief explanations to answers. One thing to keep in mind, is that the CFA does not offer a mock for the morning session of Level 3, so you’ll need to look elsewhere to practice those questions.
Your CFA Self-Study Materials: Any good set of CFA self-study materials should have a mock examination that includes all parts of the test. Before you invest in CFA self- study materials, or an online course, make sure that there are plenty of practice questions, as well as several full mock exams included in the curriculum.
Online: You can find a variety of sample questions and mock CFA Exams online. For best results, search for the level that you will be taking. For instance, if you need to take Level 2, search “Level 2 mock exam questions”. Keep in mind that some of these may be old or outdated. While any mock exam is good practice, make sure to check your sources to ensure that you don’t waste time on irrelevant information.
You can find a mock CFA exam in a variety of places- you only need to take the time to look carefully. If you are debating CFA vs CPA, consider taking a mock exam for both subjects which may help you decide which route to pursue. If you are set on passing the CFA, the mock exam is an irreplaceable study tool.