Finance & securities

CFA® Program Level I Practice Exams: 2026

Build timed decision-making across ten curriculum topics with original questions and answer-by-answer explanations

Finance & SecuritiesAmerican English4 practice tests

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CFA® Program Level I Practice Exams: 2026

Overview

What you’ll practice

Questions and explanations: American English

Exam referenceFinance & securities
Course version published
Review official exam information

Check the provider’s current objectives before booking your exam. This is independent practice material.

  • Identify the decisive assumptions in financial-analysis and valuation questions.
  • Apply return, discounting, probability and portfolio-risk calculations to standalone scenarios.
  • Distinguish financial-statement effects under expressly stated accounting assumptions.
  • Evaluate professional conduct, client constraints and conflicts in original practice scenarios.

More about this course

This course contains the use of artificial intelligence.

Financial analysis questions often turn on a small distinction: a cash flow's date, an accounting assumption, a client's constraint, or the difference between an instrument's price and its current value. Practice identifying that decisive condition before choosing an answer.

Prepare with 360 original questions for the 2026 CFA Program Level I curriculum, arranged as two complete 180-question practice examinations. Each examination is split into two 90-question tests, giving you four session-length tests in total. Allow 135 minutes per test. This course does not cover the 2027 curriculum.

Every question offers three answer choices with one best answer, feedback explaining each choice, a reasoning path and a review suggestion. Calculation explanations show the steps or formula needed to reproduce the result. Use the first attempt under time pressure, then revisit the governing rule and recalculate numerical answers without looking at the key.

What you will practice

  • Professional conduct, conflicts, suitability and GIPS scope.
  • Returns, probability, sampling, regression, economics and exchange rates.
  • Financial reporting, corporate decisions and equity valuation.
  • Bond cash flows, yields, credit, interest-rate risk and securitization.
  • Derivative payoffs and valuation, alternative investments and portfolio decisions.

The topic mix in each complete examination falls within the published 2026 topic-weight ranges. The questions sample the curriculum's major tasks; two practice examinations do not replace the full curriculum or test every learning outcome.

Study approach

  • Read every condition before selecting an answer.
  • Review why the alternatives fail, especially where a similar rule would apply under different assumptions.
  • Use a fresh timed examination after reviewing your errors rather than treating remembered answers as mastery.

The 70% practice target is a self-study setting, not an official minimum passing score. Practice percentages do not reproduce CFA Institute scoring or predict an examination result. This objective-question course does not complete a Practical Skills Module, register you for an examination or award a credential.

BrightRung Learning is an independent course creator. CFA Institute does not endorse, promote, review or warrant the accuracy or quality of this course. CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. No official examination questions are included.

Practice sets

4 practice tests. 360 questions.

01

Mock 1 — Session 1 (90 questions)

90 questions135 minutes

02

Mock 1 — Session 2 (90 questions)

90 questions135 minutes

03

Mock 2 — Session 1 (90 questions)

90 questions135 minutes

04

Mock 2 — Session 2 (90 questions)

90 questions135 minutes

FREE COURSE PREVIEW

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Before you begin

  • Prior study of the 2026 CFA Program Level I curriculum.
  • Comfortable reading financial terminology in English and using a financial calculator.
  • Access to your own current study materials for reviewing topics after a practice attempt.

Who this is for

  • Candidates preparing for a 2026 CFA Program Level I examination.
  • Learners who want timed practice after studying the underlying concepts.
  • Candidates who benefit from comparing plausible answers and diagnosing calculation errors.

Questions

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Does this include the official certification exam?

No. This is independent preparation material. Certification registration, exam fees and credentials are managed by the exam provider.

Can I switch the course language?

Check the course language label. Available language editions are listed on each course page and have separate Udemy links. The website language switch changes navigation, not course content.

Finance & securities360 questions
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