You probably aren’t doing as many CFA mock exams as you should be.
If you’ve taken up the challenge to do the CFA exams you should know the importance of a CFA mock exam. If you do no practice you will surely regret it. At least complete 4-5 CFA mock exams before you sit for the real exam.
So Why Do You Need to Go Through So Many CFA Mock Exams?
As we’ve covered before, CFA mock exam is important for passing. They:
- Help you understand what are the main testable topics
- Get you used to the exam format
- Gives you a good avenue to retain concepts you’ve learnt
You’ll probably not get the best of scores on your first practice exam, but don’t get discouraged. As long as you go through the detailed answers carefully and review concepts you’re unfamiliar with, you’ll continue to improve your scores and timing. For a good CFA mock exam post-mortem guide is a good option.
So How Many Practice Exams Is Everyone Else Doing?
In CFA Insights, we cover this topic extensively, but we’ll go through some of the learnings here. Passing candidates average slightly more than 4 full sets of practice exams for Level I.
On average, most of us was like my Level I self – attempting about 4-5 practice exams.
The minimum we would recommend for any level is about 4 CFA mock exams. Most prep packages have 3 practice exams – add in the free CFA mock exam and you have 4. That should be a minimum number in any candidate’s case if they want a good chance of passing.
Just as a frame of reference, my practice exam tally was:
- 5 practice exams for Level I
- 7 practice exams for Level II
- 7 practice exams for Level III
What Do You Think?
If you’re sitting for your CFA exams soon, how many practice exams have you attempted, and how many do you plan to go through?