Easy CFA Level I Practice Questions

216 free easy-difficulty CFA Level I questions, drawn live from KomFi's calibrated bank. Build the foundation first: these test the core mechanics every harder question assumes.

1. Which of the following is *not* typically considered one of the three primary levers of value creation in an L
2. A private equity fund is being liquidated. The General Partner (GP) is required to return a portion of the car
3. What is 'Carried Interest' in the context of a private equity fund?
4. A fund manager at Kestrel Grid is currently 'under water.' This most likely implies that:
5. If the fund gains 15% in the following period, on what portion of the gain can the manager charge an incentive
6. The management fee for Year 2 is calculated on:
7. Sable Payments charges a 'soft hurdle' of 7%. If the fund achieves a gross return of 10%, the incentive fee is
8. The most likely impact on the J-curve is that it will:
9. Solstice Utilities manages a portfolio of energy futures. If the storage costs for the underlying commodity si
10. Harbourlight REIT is looking into timberland and other natural resources. They find that the roll yield for a
11. All else equal, which index is more likely to provide a higher total return to a long investor?
12. Nadir Components is reviewing its commodity portfolio. The portfolio manager states that 'backwardation is the
13. If the management fee is 2% and the incentive fee is 20%, and the fund earns a 0% gross return, the net return
14. The management fee for the year is closest to:
15. Which metric best captures the 'realized' portion of the investment return per dollar of paid-in capital?
16. Pinion Logistics is analyzing a lease where the tenant pays all property-level expenses, including taxes and i
17. Lumen Credit is analyzing a retail property. In calculating the Net Operating Income (NOI), the analyst should
18. If investors require a 7% return, the implied market capitalization rate is:
19. Quill & Ash, a family office, is concerned about 'vintage year risk' in their private equity portfolio. This r
20. If the shares return 10%, the return on equity (ROE) is:
21. The most reliable method to select the project that maximizes shareholder wealth is:
22. If the discount rate increases to 12%, the NPV will most likely:
23. Which component of the WACC formula is typically the most difficult to estimate with precision?
24. Helion Rail should:
25. If the firm encounters multiple IRRs, the best approach is to rely on:
26. Vesper Foods is evaluating a project that has an initial inv… — This cash flow pattern is classified as:
27. The conflict between the two rankings here is best described as:
28. Which of the following sequences best represents the company's preferred order of funding?
29. If the NPV is positive, the IRR must be:
30. If the project has 'conventional cash flows', how many times will the NPV change signs as the discount rate in

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