How many practice questions to do for the CFA, and how to use them
Candidates often ask for a number: how many practice questions are enough? The honest answer is that the count matters less than three things you control: whether the questions cover the whole syllabus, whether you review every mistake, and whether some of your practice is timed. This guide explains each, and gives a way to set your own target.
Why practice questions matter
Reading a chapter feels productive, but the exam does not ask you to read. It asks you to answer 180 questions at about 90 seconds each, choosing between three options. Answering questions is the closest rehearsal, and getting one wrong teaches more than getting it right, because you find out exactly where your understanding stops.
Practice questions also build the skills that reading does not: working quickly, using your calculator without thinking about the keys, and spotting the wording the exam uses. Level I stems use qualifiers such as "most likely", "least likely" and "best described", and they avoid "all of the above" and "none of the above". Meeting that style in practice means it is familiar on the day.
Coverage first, count second
Every topic is examined, and each has a published weight. For 2027:
| Topic | Weight |
|---|---|
| Ethical and Professional Standards | 10-15% |
| Quantitative Methods | 11-14% |
| Economics | 6-9% |
| Financial Statement Analysis | 11-14% |
| Corporate Finance | 6-9% |
| Equities | 11-14% |
| Fixed Income | 11-14% |
| Derivatives and Risk Management | 6-9% |
| Alternative Investments | 6-9% |
| Portfolio Construction | 8-12% |
A thousand questions that all come from your favourite three topics leave seven topics untested. A sensible spread follows the weights, then leans towards your weak topics. A question bank should cover every learning outcome, so that no part of the syllabus is a blind spot. Check how a provider tracks coverage before you rely on it.
Quality: review every wrong answer
The value of a question is in the review. For each one you get wrong:
- Read the explanation for the right answer and for each wrong option. The wrong options are written to match common mistakes, so knowing why each is wrong is half the learning.
- Name the cause. Was it a gap in knowledge, a calculation slip, a misread question or a lack of time? The fix is different for each.
- Log it. Mistakes repeat, so a short error list is the most useful revision note you will have.
- Come back to it. Re-answer the question a few days later, and again after a few weeks. See spaced review.
Fifty questions reviewed properly teach more than two hundred rushed through for a total.
Timed practice and mocks
Early in your study, untimed questions on a single outcome are right: the aim is to learn. Later, move to mixed sets under the clock, and in the final weeks sit full mock papers of 180 questions in two sessions of 135 minutes, with no interruptions and your approved calculator. A mock score is a sample of what you know, so read it as a range and not as a verdict. See how to read a mock score.
Setting your own target
Instead of copying someone else's total, set yours in four steps:
- Take a diagnostic to find your weak topics. A free diagnostic takes a few minutes.
- Divide your practice time by the weights, then add to the weak topics.
- Track your accuracy by topic. When a topic is steadily strong, shift time elsewhere.
- Stop adding new questions and start repeating once you have covered the bank: repeated mistakes are where the marks are.
Your plan should also fit your hours. CFA Institute suggests around 300 hours per level, and practice should take a large share of that. See how many hours to study.
Common questions
How many practice questions should I do for CFA Level I?
There is no official number. Aim to cover every topic in proportion to its weight, review every wrong answer, and keep adding questions on your weak topics until your accuracy there is steady.
Is it better to do more questions or review fewer questions properly?
Review matters more. Questions you get wrong teach you the most, and only if you work out why and come back to them later.
When should I start doing full mock exams?
Sit one early to learn the pace, then several in the final weeks, spaced so that you have time to fix what each one shows.
Should practice questions be timed?
Later in your preparation, yes. Level I allows about 90 seconds a question, so timed sets build the pace you need.
Sources
- CFA Institute, The CFA Program: the exam format, question style and topic weights.
Topic weights change between curriculum years. Check the current figures on the CFA Institute website and the Level I syllabus.