What is a Safe CFA Mock Exam Score For Level I, II, and III

CFA mock exams are essential to a candidate’s preparation for CFA main exams. Practicing with the best mock exam provider can increase your chances of doing great in the main exams. Candidates need to know what a safe CFA mock exam score is. This enables them to gauge their readiness for the main thing. Below is what you need to know about CFA mock exams.

Benefits of taking a mock test

Taking mock exams can be discouraging due to the fear of failure. Most candidates prefer studying exam material several times, while some need to be made aware of the existence of mock exams. This is because they think their main exams’ score is determined by mock exams score. However, mock exams have a lot of benefits for a candidate. Here are some of the reasons why a candidate should consider taking a CFA mock test:

• It enables a candidate to familiarize themself with the Prometric interface used for examination. They learn on-screen navigation, which improves their test-taking skills hence maximizing time. This, in turn, builds your stamina which raises your final score.
• It reduces exam day anxiety by a candidate familiarizing with the Prometric device layout.
• A candidate practices questions that adhere to the CFA institute learning outcomes, increasing their chances of passing the main CFA exams.
• They test a candidate’s knowledge of the curriculum. This validates a candidate that they are studying the correct materials.
• Mock exams analytics helps a candidate identify areas a student should focus on. It points out a candidate’s weak areas that they should spend some time re-learning.
• Mock exams are graded using the same software used to grade actual CFA exams, enabling students to gauge their capabilities.

Level I Safe Mock Score

The exams are taken consecutively from level I to level III. Level I is the first level that a candidate takes. It consists of 180 questions taken within 135 minutes. It is divided into two sessions, each consisting of 90 questions. A candidate should spend at least 300 hours studying for this level. A score considered safe for this level is 70% and above. This indicates that a candidate has understood investment valuation and portfolio management concepts tested on this level. It also shows that a candidate can confidently meet the minimum pass score(MPS) set by the CFA charterholders for the main exam. However, a candidate is advised to take mock exams at least five times. Failure on the first attempt should not discourage a candidate. 

The mock test is marked and graded by machines like the main exams. 

Level II Safe Mock Score

Level II is more challenging than Level I. It tests a candidate’s knowledge of investment valuation and the application of its concepts. The exam consists of 10 topics that are made into multiple-choice questions. The questions are divided into 21-item sets; 10 items are taken in the morning and eleven in the afternoon. The exam takes a total of six hours. Even though Level II is more complex than Level I, the safe mock score is still 70%, just like Level I. The exam is also marked and graded using machines and a little human help.

Level III Safe Mock Score

This is the last level and is considered the most challenging level compared to the other two. The safe mock score for level III is 65% and above. It tests a candidate’s knowledge of wealth planning and portfolio management. Most of its questions are answered in essay form. It has a morning and afternoon session with ten to fifteen essay-type questions. Since it consists of essay-type questions, it is marked and graded by CFA charterholders.

A candidate can only progress to the next level of examination by passing the previous level.

Try and answer all questions since you are not penalized for giving wrong answers.

Test-Taking Tips

Now that we know what to aim for while taking mock exams, it is essential to know the test-taking skills that you will practice while taking the practice exams.

Here are the tips a candidate should apply when taking exams:

• Read a question carefully. This enables you to understand the skill and knowledge the question aims for.
• For multiple-choice questions, go through all the choices carefully. This helps you determine the question’s least likely and most likely answer.
• Avoid introducing external information when answering a question. This can lead to a candidate completely deviating from the main point asked. Each question has precisely what it needs for you to answer it.

For level III essay questions, here is a criterion a candidate should follow when answering level III essay questions:

• Answers to essay questions are graded according to the content you write, not the language and style you use.
• Use short and precise phrases presented using bulleted points. Avoid using long phrases as they can be tiring to read.
• Address bold commands used in the questions in your answers. Points are awarded for answers that respond to precisely what the question is asking.
• If a question requires a decision, i.e., choosing between two options, clearly state your choice. Give a short brief explanation and avoid contradicting your answer.
• Give only the required points stated in the question. For example, only the first three points are marked if a question asks for three points.
• State the assumptions or the approach you used to tackle the question if needed or if the question asks you to.
• Manage your time well to ensure that each question is allocated time and all questions are answered.

A candidate should practice these skills while taking the mock exams. This enables them to familiarise themselves with the purposes of the main exams.

Where can I get CFA mock exams?

Your prep provider should provide a question bank with mock exams. There are also excellent online vendors recommended by the CFA Institute who provide up-to-standard materials. The CFA institute also provides mock exams to their registered candidates for purposes of practice.

This is all a candidate needs to know about CFA mock exams. This method should be used as a supplement to the other study methods. A candidate should avoid taking mock exams before going through the study materials.