Free diagnostic
Free Level II practice test
15 questions in five short item sets, 45 minutes. Then your score in each topic, a short lesson on the one to fix first and a study plan.
- One vignette from each topic weighted 10 to 15%: Financial Statement Analysis, Equities, Fixed Income, Portfolio Construction and Ethics. Have a financial calculator ready.
- No account, and nothing about your answers is kept.
- Questions come one at a time with their vignette on one clock, 3 minutes each, the real exam's pace.
The ten topics and their weights
| Topic | Share of the exam |
|---|---|
| Quantitative Methods | 5 to 10% |
| Economics | 5 to 10% |
| Financial Statement Analysis | 10 to 15% |
| Corporate Finance | 5 to 10% |
| Equities | 10 to 15% |
| Fixed Income | 10 to 15% |
| Derivatives and Risk Management | 5 to 10% |
| Alternative Investments | 5 to 10% |
| Portfolio Construction | 10 to 15% |
| Ethical and Professional Standards | 10 to 15% |
The real exam has 88 questions in 22 item sets over two 132-minute sessions. Each set is a vignette with four questions.
How we score it
CFA Institute does not publish a passing score, so we do not estimate one. You get your share right in each topic, and one overall figure that counts each topic by its weight on the exam.
Original practice item sets for Level II of the CFA® Program, to the 2027 topic outline. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. CFA Institute does not endorse, promote or warrant the accuracy or quality of the products or services offered by UniGenius. Independent course, not affiliated with or sponsored by CFA Institute.