CFA® Program Level I · 2026 curriculum
CFA® Level I mock exams vs question bank
They train different things. A question bank builds and checks your knowledge one topic at a time. A mock exam tests whether you can apply it over 180 questions on the clock. Most candidates need both, at different stages.
The short answer
- While you study: use a question bank after each topic to see what has stuck and what hasn't.
- In the last six to eight weeks: take full mock exams under exam conditions to practise pace, stamina and question selection.
- After every mock: go back to the question bank for the topics where you lost the most marks.
Mock exam or question bank: what each is for
| Mock exam | Question bank | |
|---|---|---|
| Main purpose | Rehearse the whole exam under time pressure | Learn and check one topic or module at a time |
| Format | 180 questions in two timed 135-minute sessions | Short sets, with the answer and explanation straight away |
| Best used | In the last six to eight weeks | Throughout your studying, and for revision |
| Tells you | Your score per topic against its exam weight, and where your time goes | Your accuracy per topic and learning module, and a list of mistakes to redo |
| At CheapMocks | First mock free, extra mocks USD 19 each | 2,500 original questions, USD 69 for 12 months |
Why a question bank alone isn't enough
Short practice sets are comfortable: you know which topic you are in, and you can look things up between questions. On exam day you get 90 questions in 135 minutes, with topics mixed after the ethics block, and you have to decide quickly when to move on. That skill only comes from sitting full mocks, ideally with both sessions timed.
Why mocks alone aren't enough
A mock tells you which topics are weak, but it is an inefficient way to fix them: one mock has only a handful of questions per learning module. To turn a weak score in, say, fixed income into a strong one, you need to drill that topic with many more questions, and that is what a question bank is for.
A simple plan that uses both
- Study a topic, then answer a set of questions on it in the question bank.
- When you have covered the whole curriculum, take the free mock under exam conditions.
- Use the topic report to pick your weakest, highest-weight topics and drill them in the question bank.
- Take a further mock every week or so, and repeat step 3 after each one.
Our Level I study plan shows how to spread this over the weeks before your exam.
Which should you buy?
Start free: the first full mock costs nothing and shows you where you stand. If you want to drill topics, add the question bank (USD 69). For more mock practice, see the extra mocks (USD 19 each). The complete bundle (USD 99) includes all paid mocks and the question bank, and is the cheapest way to get both.
Frequently asked questions
Should I do mock exams or a question bank first?
Start with a question bank while you work through the curriculum, topic by topic. Switch to full mock exams in the last six to eight weeks, when you have covered everything and need to practise timing and stamina.
How many mock exams should I take before CFA Level I?
Most candidates take three to five full mocks in the final weeks, reviewing each one properly before taking the next. A mock you take and don't review teaches you very little.
Is a question bank enough on its own?
It is enough to build and check knowledge, but not to prepare for exam day. Level I is 180 questions in two 135-minute sessions, so you also need to practise the pace and the mental stamina with at least a few full mocks.
Do I need both?
Not necessarily. Candidates who are short on time often use the free mock to find weak topics and then drill those in the question bank. Candidates who study with other material often only add mocks at the end. The bundle exists for those who want both.
Start with the free mock
Find your weak topics first, then decide what else you need.