Hard CFA Level I Practice Questions
70 free hard-difficulty CFA Level I questions, drawn live from KomFi's calibrated bank. These are the items that separate top scorers — every one carries a full explanation and trap analysis once you sign in.
- If the fund's gross return is 4%, what is the performance fee?
- Oakridge Capital is analyzing 'Fallen Angels' in the fixed income market. A fallen angel is defined as a bond
- Oakridge Capital reports under IFRS. It enters a contract to provide specialized equipment and three years of
- If the corporate tax rate is 25% on all interest income and expected inflation is 3.0% annually, which of the
- Helion Rail has a Debt/EBITDA ratio of 4.5x. The company decides to enter into a large finance lease for new l
- Oakridge Capital observes that two assets have a correlation coefficient of -1.0. If these two assets are comb
- Vesper Foods uses a LIFO (Last-In, First-Out) inventory method. During a period of rising prices, compared to
- Helion Rail is analyzing its stock return for the past year. The share price moved from $50 to $55, and a $2 d
- An analyst is using 'Bootstrap Resampling' to estimate the standard error of the median return for a portfolio
- A candidate mentions in a LinkedIn post that she 'Passed Level II of the CFA exam on the first attempt, demons
- Under the 2027 CFA Level I standards, a candidate who tells their study group 'the ethics portion of my exam y
- A supervisor at Helion Rail Capital discovers that a subordinate has been sharing confidential client informat
- During a job interview at Oakridge Capital, a candidate is asked to describe the most difficult question from
- Oakridge Capital is evaluating two mutually exclusive projects. Project A has an IRR of 15% and a smaller scal
- A 10-year 5% semiannual-pay bond is currently priced at 98.50. The 'flat price' of the bond refers to:
- A 30-year bond has a Macaulay duration of 18.5 years. An investor has an investment horizon of 20 years. This
- Standard II(A) Material Nonpublic Information prohibits trading on information that is both material and nonpu
- Helion Rail has a capital structure of 60% equity and 40% debt. If the cost of equity is 12%, the pre-tax cost
- In the 2027 Quantitative Methods curriculum, which simulation engine is specifically described as being used t
- An institutional investor at Oakridge Capital has a 5-year investment horizon and holds a Helion Rail bond wit
- A researcher at Oakridge Capital uses bootstrap resampling to estimate the standard error of a median. The pri
- Helion Rail is considering a change in its depreciation estimate for its locomotive fleet, increasing the usef
- Meridian Pack is considering a project with an initial cost of 50,000 that will generate cash flows of 20,000
- Oakridge Capital is evaluating a European call and put on a non-dividend-paying stock trading at 50. Both opti
- If the note is currently trading at a discount to par, which of the following is most likely true?
- Solaris Energy observes the USD/EUR spot rate is 1.0800. The one-year risk-free rates are 5.0% in the US and 3
- Oakridge Capital is analyzing a 3-year, 5% annual-pay bond yielding 4%. The modified duration is 2.75 and the
- Meridian Pack has a complex capital structure. Net income is 500,000, and there are 200,000 common shares outs
- Oakridge Capital is calculating the value of a perpetuity that pays 1,200 annually starting five years from to
- A portfolio has a standard deviation of 15% and the benchmark has a standard deviation of 12%. If the correlat
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