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CFA® Exam Prep · Levels I · II · III

Serious CFA® preparation, within reach.

Advanced analytics · Levels I, II and III

Readiness, quantified.

A cohort percentile ranking, relative performance by topic and a study momentum rating turn your preparation into numbers you can act on.

Momentum · Percentile · Relative performance

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Analyst Quorum dashboard: momentum rating, cohort percentile and relative performance

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Level I · Multiple choice

Master the fundamentals.

An evolving bank of practice questions, each with a full worked explanation the moment you answer.

A worked answer, every time

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Level I practice question with answer reveal and worked explanation

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Levels II and III · Item set vignettes

Apply the fundamentals.

Full vignettes with exhibits and item sets that ask you to apply the concept rather than simply recognise it.

Case and item set

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Level II item set vignette with case, exhibits and answer reveal

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Level III · Essay and instant scoring

Write the real thing. Scored in seconds.

Constructed response essays in a timed session, scored against our proprietary scoring model the moment you submit.

Essay and instant scoring

analystquorum.com/practice

Level III essay session with the GIPS case docked beside the answer boxes

29:46

Level III essay session with the case popped out and the answer editor at full width

29:46

The GIPS case scenario floating in its own movable window

Instant essay scoring report: 6 of 12 points, each mark awarded or denied against the candidate's own words

Start practising free Sample dashboard Sample essay report

✓ No card required✓ Free question bank

Growing practice questions across all three levels

Level I

461

questions

standalone MCQs

Level II

304

questions

across 76 vignettes

Level III

220 MCQ | 155 Essay

questions

across 106 vignettes

Our question bank is always evolving to stay challenging, and we strive to add new questions every month.

Isuru Perera, CFA, Founder of Analyst Quorum

You are preparing for a career built on advanced analysis. Your exam preparation should be no different. We are democratizing access to quality preparation materials, with advanced analytics to guide your journey.

Isuru Perera, CFA

Founder, Analyst Quorum

Connect on LinkedIn →

Your progress, made legible

The exam is pass or fail. Your preparation shouldn't be.

Every answer feeds a dashboard built to tell you the truth about your preparation: where you are strong, where you are exposed, and what to do about it.

analystquorum.com/dashboard

Welcome back, Jane Smith

Study Momentum Rating

Buy

Coverage32 days

Rolling accuracy62%

OutlookWATCH (2/5)

Your persistence will pay off

Level II · Select a topic

Select topic

Start MCQ Practice →

Cohort Percentile

85th

percentile at your level

33

Days to exam

Aug 25, 2026

Last Sessions

21 Jul

Quantitative MethodsMCQ

4/4 · 100%

Equity ValuationMCQ

4/4 · 100%

20 Jul

Portfolio ManagementMCQ

4/4 · 100%

Corporate IssuersMCQ

3/4 · 75%

18 Jul

Financial Statement AnalysisMCQ

4/4 · 100%

EconomicsMCQ

4/4 · 100%

Time per Question

45savg / question

You

45s

Cohort

67s

Exam budget

180s

Time by Topic

Alternative Investments48s vs 92s

Financial Statement Analysis38s vs 82s

Corporate Issuers49s vs 88s

Ethical and Professional Standards41s vs 79s

Economics46s vs 81s

Make a Plan to Review These Concepts

From your recent sessions · grouped by topic

Derivatives

Option Greeks ↗ Delta Hedging ↗ Interest-Rate Swaps ↗ Binomial Option Pricing ↗

Equity Valuation

Residual Income Model ↗ FCFF vs FCFE ↗ Justified P/E Multiples ↗ Two-Stage DDM ↗

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Relative Performance · Multiple Choice Your accuracy vs the cohort

▲ Outperforming

Portfolio Management+26

You

77%

Cohort

51%

Quantitative Methods+22

You

86%

Cohort

64%

Equity Valuation+20

You

79%

Cohort

59%

▼ Underperforming

Alternative Investments−25

You

33%

Cohort

58%

Ethical and Professional Standards−21

You

42%

Cohort

63%

› Too close to call 5

MCQ Topic Mastery

Financial Statement Analysis

56%

First-try 51%

Today · 32 questions

You: 56% · Cohort: 58%

Fixed Income

54%

First-try 49%

Today · 28 questions

You: 54% · Cohort: 61%

Derivatives

56%

First-try 50%

Yesterday · 25 questions

You: 56% · Cohort: 50%

Ethical and Professional Standards

42%

First-try 38%

5 days ago · 24 questions

You: 42% · Cohort: 63%

Equity Valuation

79%

First-try 77%

Today · 22 questions

You: 79% · Cohort: 59%

Portfolio Management

77%

First-try 70%

3 days ago · 22 questions

You: 77% · Cohort: 51%

★ Quantitative Methods

86%

First-try 80%

Today · 23 questions

You: 86% · Cohort: 64%

Alternative Investments

33%

First-try 33%

Jul 12 · 21 questions

You: 33% · Cohort: 58%

Corporate Issuers

71%

First-try 66%

3 days ago · 21 questions

You: 71% · Cohort: 58%

Economics

71%

First-try 65%

5 days ago · 21 questions

You: 71% · Cohort: 63%

MCQ Progress ↻ Refresh

240

Attempted

149

Correct

62%

Accuracy

01

First Attempt Accuracy

How you do the first time you meet a question, before repetition flatters you. It is the truest read on whether a concept has actually stuck.

02

Relative Performance

See how your command of each topic compares with other candidates preparing right now, so your study time goes where it matters most.

03

Topics Coverage

Know exactly how much of each topic you have actually worked through, with no guessing about the ground you have left untouched.

04

Momentum

A daily rhythm that keeps preparation consistent, because the candidates who pass are the ones who keep showing up.

Built for your level

Every level, in its own format

The question format changes at each level. Your practice should too.

I

Command the fundamentals

Standalone multiple choice across all ten topics. Sharpen the recall and speed Level I demands, with your accuracy tracked by concept.

Multiple choice

II

Apply it under pressure

Item set vignettes that place each concept in a realistic case. Read the scenario, work the exhibits, then answer the set.

Item sets

III

Think like a portfolio manager

Vignettes plus full constructed response essays, scored by our proprietary scoring model the moment you submit.

Essay and scoring

Your guides to the exam

Know the exam before you sit it

Start here · Overview

What is the CFA^® exam?

Format, levels, timelines and what sitting it actually involves.

CFA^® exam topics and curriculum, level by level

CFA^® pass rates: the latest numbers and what they mean

How to study for the CFA^® exam

Free CFA^® practice questions, all levels

CFA^® Level III essay questions: format and practice

CFA^® approved calculators: TI BA II Plus and HP 12C