Level I CFA Test Bank - December 2017

Are you ready for exam day?
Practice to pass! Test your knowledge, identify your strengths and weaknesses and check that you can apply what you have learned with 4,000+ practice questions that are close to those you will see on exam day. Wiley's testbank offers both calculative and conceptual questions, designed to really test your understanding.
I understand this is a stand-alone product. If I own a CFA Platinum, I do not need to purchase this stand-alone Test Bank.

  • 2 Full-Length Mock Exams (1 for Level III)
  • 4,000+ Practice Questions available now
  • Conceptual and Calculative Questions
  • Performance Metrics
  • Answers and Explanations Available for Each Question

$195 *
* Prices apply to Indian Subcontinent only

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  • Purchase Information

Practice to pass! Two full-length mock exams are included. Carefully written by content experts, these mocks resemble the actual CFA® exam in terms of style, structure and construction of questions, and will help you identify your strengths and weaknesses and learn to manage your time on the exam. We also provide comprehensive solutions to all questions in the CFA® practice exam to help you learn from your mistakes.
Please Note: We only offer electronic versions of this product.

People are Passing with Wiley

“Your Mock Exams also closely replicate the exams. I will definitely use your materials for Level II.” – Rehaaz, Canada
“I really loved your way to prepare a student via mocks. I was amazed to see at least 25 questions in both morning and evening session exactly at same pattern as you guys gave… I totally loved it.” – Aakash, UAE


1. What's the duration of CFA platinum review course? CFA review course allows you to plan your study as per your convenience. You can choose to create a relaxed study plan (12 months max) or a relatively intensive plan (e.g. 3 months).

2. For how long can I access the course? Wiley promises to partner you until you pass the exam. Initially you will be offered a one-year access to the course. But, in case you need to repeat the same, we will renew your access without any further charges.

3. I am repeating the course. What should I do to regain the access? To regain the access, students just need to provide a proof of non-appearance or failing the CFA exam.

4. I am experiencing some technical glitch. What should I do? If you are experiencing some technical issues, please contact our support team: https://www.efficientlearning.com/support/

5. Is Wiley providing online or class-based mock exams? All mock exams at Wiley are computer based.

6. How many mock exams Wiley is offering? 2 Full length mock exams (1 for level III)

7. What career paths do CFA candidates take? The CFA Institute provides the following breakdown of the most common professions:

  • 5% Relationship Manager
  • 16% Research Analyst
  • 7% Chief Executive
  • 7% Consultant
  • 5% Corporate Financial Analyst
  • 5% Financial Advisor
  • 23% Portfolio Manager
  • 6% Risk Manager


8. Which companies are the top employers of CFAs?

  • JP Morgan Chase
  • UBS
  • Bank Of America Merrill Lynch
  • RBC
  • HSBC
  • Wells Fargo
  • CitiGroup
  • Morgan Stanley
  • Price Waterhouse Coopers
  • Ernst & Young


9. What are the eligibility criteria for CFA exam?

  • Have a bachelor's (or equivalent) degree
    • Or be in the final year of your bachelor's degree program at the time of registration*
    • Or have four years of professional work experience (does not have to be investment related)
    • Or have a combination of professional work and college experience that totals at least four years. Part-time positions do not qualify, and the four-year total must be accrued prior to enrollment.
  • Have a valid international travel passport (required for enrollment and exam registration)
  • Candidates with a degree in progress: If you initially enroll/register as a final year undergraduate student with a degree in progress, you may not register for the Level II exam until you have earned your degree, or obtained professional work experience that meets the program’s entrance requirements. When your degree is awarded, update your account education information to certify that your degree has been received.


10. How & when can I register for CFA exam?

  • Level I exams are offered in December and June (typically on the first Saturday). Level II and III exams are offered in June only (typically on the first Saturday).
  • Registration usually opens about 11 months before each exam; register early to take advantage of the fee schedule and to have enough time to study and prepare for the exam.
Registration for the CFA program requires you to fill out an application form online.


11. What is the ROI of becoming a CFA? Well, it depends on your career ambitions. The CFA Program is designed to provide charter-holders with specialized skills like investment analysis, portfolio strategy and asset allocation. An MBA program is less specialized and suited for broader disciplines like marketing or general management. In terms of compensation, it pays better to hold a CFA charter but it pays even more to have an MBA as well. Below is a comparison from compensation research firm PayScale.

12. Which one is better- CFA OR MSc in Finance? Even though MSc in Finance is a relatively specialized course but it fails to provide detailed knowledge regarding any particular finance field. Hence, a CFA certification can provide detailed & specialized financial knowledge which is a highly sought after skill.

13. What’s the structure of exam? The Level I exam consists of 240 multiple choice questions, split among two 3-hour sessions. Candidates must attend both sessions.

  • Morning session (3 hours): 120 multiple choice questions, covering all topics
  • Afternoon session (3 hours): 120 multiple choice questions, covering all topics

Timing: On average you should allow approximately 90 seconds for each multiple choice question. You may need more or less time, depending on the question and how well you understand the topic.

The Level II exam has a total of 20 item set questions:
  • Morning session: 10 item set questions
  • Afternoon session: 10 item set questions
On the Level II exam, you will have a total of 120 items (20 vignettes with 6 items each) compared to 240 multiple choice items on the Level I exam.
The Level II exam is worth 360 points, corresponding to the number of minutes on the exam. The 120 Level II items are equally weighted, 3 points each, with no penalty for incorrect answers.
On the Level II (and III) exams, some topics are covered in the morning session only and other topics are covered in the afternoon session only.

The Level III exam consists of item set and constructed response (essay) questions:
  • Morning session: Constructed response (essay) questions (usually between 8 and 12 questions, each with several subparts) with a maximum of 180 points. (The point value for each question is provided in the exam book.)
  • Afternoon session: 10 item set questions


14. Does CFA institute offer any scholarship? CFA Institute also offers two types of scholarship opportunities:

  • Access Scholarship- This is a need-based opportunity, which is provided for those who are unable to afford the full price of the enrollment or registration fees.
  • Awareness Scholarship- This is a merit or role based opportunity that are provided for CFA educational programs.


15. How much is the exam fee? The exam fee for all CFA levels is the same:

One time enrollment fee Registration wise Fee (USD)
$450 Early 650
- Standard 860
- Final 1280

16. Where are CFA test centers located in India?

  • Ahmedabad
  • Bangalore
  • Chennai
  • Hyderabad
  • Kolkata
  • Mumbai
  • New Delhi
  • Pune


17. Can I choose my test center or will it be allocated by CFA institute? When registering, indicate a specific major city or a metropolitan area in which you want take your exam. An appropriate CFA exam testing center is then selected by the CFA Institute based on requests.

18. How can I change my test center? To request a different test center, select the “Change My Test Center” option in your CFA Institute account (must be logged in). Be sure to make your request before the final deadline (18 April for the June 2017 exams and 9 October for the December 2017 Level I exam). If your request is approved, your new test center assignment will appear on your admission ticket. CFA exam testing centers have limited seating, so all changes requests are on a first-come, first-served basis and subject to seat availability. The CFA Institute does not honor requests for a test center change within the same metropolitan area.

19. When do admission tickets become available? Admission tickets are available approximately four weeks prior to your exam date. Be sure to confirm your CFA exam testing center assignment on your ticket.

20. On an average how much study time is required to pass all three levels? The generally held notion is that candidates should spend an average of 300 hours studying for each level of the CFA exam.

21. What are the requirements of becoming a charter-holder? To become a charter-holder you must fulfill following requirements:

  • Have four years of qualified investment work experience
  • Become a regular member of CFA Institute
  • Pledge to adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct,
  • Apply for membership to a local CFA member society, and Complete the CFA Program


22. What is needed to complete a CFA program?

  • Meet the CFA Program entrance requirements and enroll in the program
  • Complete the course of study and pass the three levels of exams
  • Become a regular member of CFA Institute (required to receive your charter)


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