Arif Irfanullah
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- Jun 18, 2026
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This year CFA Institute has made several practice questions available for Level I candidates. These practice questions are organized on a per-topic basis. I strongly recommend that you do the practice questions after completing a particular topic. Once you are done with a set of practice questions carefully study the solutions – even for questions that you got right.
Once you have studied all 10 topics you should also work through the all the mock exams which are available on the CFA Institute website. These mock exams are a good indication of what you might get on the actual exam day.
You might have access to mock exams from the past. While these exams are a good source of practice keep in mind that many questions from past mocks are repeated in the current set of practice questions and mock exams. Hence I suggest you attempt past mocks after doing the current set of practice questions and mock exams. Also keep in mind that the curriculum changes every year. Consequently you should be careful before blindly attempting every question from the past. Given below is an overview of which mock exams are still relevant for each topic.
Ethics: Mock exams from 2009 onwards are largely relevant.
Quantitative Methods: Mock exams from 2009 onwards are relevant. The technical analysis reading was updated in 2011 and so you should skip the technical analysis questions from the 2009 and 2010 mocks.
Economics: Mock exams from 2012 onwards are relevant.
Financial Reporting and Analysis: Mock exams from 2009 onwards are still relevant but there have been a few changes over the years. For example in 2009 the emphasis was on U.S. GAAP. While candidates are still required to know U.S. GAAP the curriculum’s focus has shifted to IFRS. In terms of specific changes, a segment on pension obligation has been added, while asset retirement obligation has been removed from the reading on non-current liabilities. If a question looks unfamiliar simply check the learning objective in the solution to determine whether the material is still relevant.
Corporate Finance: Mock exams from 2009 onwards are still generally relevant but there have been a few minor changes over the years. In 2013 the reading on Financial Statement Analysis was dropped. If a question looks unfamiliar simply check the learning objective in the solution to determine whether the material is still relevant.
Portfolio Management: Mock exams from 2011 onwards are relevant.
Equity: Mock exams from 2011 onwards are relevant.
Fixed Income Securities: Apart from the reading on credit analysis, this topic has been overhauled in 2014. If you want you can fish out the credit analysis questions from 2013. Other than that there is not much point doing fixed income from past mocks.
Derivatives: Mock exams from 2009 onwards are generally relevant.
Alternative Investments: Mock exams from 2013 onwards are relevant.
Once you have studied all 10 topics you should also work through the all the mock exams which are available on the CFA Institute website. These mock exams are a good indication of what you might get on the actual exam day.
You might have access to mock exams from the past. While these exams are a good source of practice keep in mind that many questions from past mocks are repeated in the current set of practice questions and mock exams. Hence I suggest you attempt past mocks after doing the current set of practice questions and mock exams. Also keep in mind that the curriculum changes every year. Consequently you should be careful before blindly attempting every question from the past. Given below is an overview of which mock exams are still relevant for each topic.
Ethics: Mock exams from 2009 onwards are largely relevant.
Quantitative Methods: Mock exams from 2009 onwards are relevant. The technical analysis reading was updated in 2011 and so you should skip the technical analysis questions from the 2009 and 2010 mocks.
Economics: Mock exams from 2012 onwards are relevant.
Financial Reporting and Analysis: Mock exams from 2009 onwards are still relevant but there have been a few changes over the years. For example in 2009 the emphasis was on U.S. GAAP. While candidates are still required to know U.S. GAAP the curriculum’s focus has shifted to IFRS. In terms of specific changes, a segment on pension obligation has been added, while asset retirement obligation has been removed from the reading on non-current liabilities. If a question looks unfamiliar simply check the learning objective in the solution to determine whether the material is still relevant.
Corporate Finance: Mock exams from 2009 onwards are still generally relevant but there have been a few minor changes over the years. In 2013 the reading on Financial Statement Analysis was dropped. If a question looks unfamiliar simply check the learning objective in the solution to determine whether the material is still relevant.
Portfolio Management: Mock exams from 2011 onwards are relevant.
Equity: Mock exams from 2011 onwards are relevant.
Fixed Income Securities: Apart from the reading on credit analysis, this topic has been overhauled in 2014. If you want you can fish out the credit analysis questions from 2013. Other than that there is not much point doing fixed income from past mocks.
Derivatives: Mock exams from 2009 onwards are generally relevant.
Alternative Investments: Mock exams from 2013 onwards are relevant.
