One of the best ways to gauge how prepared you are for the day of the CFA exam is to take a mock one! The CFA Institute (CFAI) makes mock exams available in the Learning Ecosystem about two months before each test date, and most third-party providers (including us!) offer mock exams.
It's inferred that mock exams are representative of the actual exam, but how accurate are they really?
One of most commonly asked questions about the CFA exams are: Can I trust my results on mock exams to be like what I'll actually get on the exam? Well, several factors affect the answers to these questions, so let’s take a look.
First off, the Content
The questions on mock exams should cover similar material to what you'll see on the actual CFA Exam. For example, the questions from the CFAI mock exams, question banks, and practice questions should all be based on the curriculum for the exam you're taking. On the CFAI mock exams, you'll see similar questions on the same topics you will encounter on test day. They'll also be the same level of difficulty as the actual exam. With that said, you can safely rely on the CFAI mock exams to reflect what you'll encounter on the actual CFA exam in terms of content.
Let's take a look at the Structure
Understanding the exam structure can make the difference in how you perform on test day. Fortunately, the CFAI mock exams follow the same structure as the real exam. This means that each mock exam is structured and weighted like the official exam, and all of the questions are presented in the same format as you what you'll encounter on the official exam. Therefore, the structure is pretty solid when it comes to reflecting the actual exam.
What about the Results?
Coming back to the most popular question:Can I trust my results on mock exams to be like what'll I'll actually get on the exam? Well, it's entirely circumstantial. No one person will have the exact same experience as another. Some students may leave their exam feeling like it was easy, while others have the opposite experience.
Those who do well on their mock exams usually end up doing well on the actual CFA Level 1 Exam. It's all about replicating the test day environment as closely as possible, so if you can get the opportunity to take these mock exams, do so!
Why Use MasterCFA With the CFAI Prep Materials?
When you register for the CFA Exam, the CFA Institute sends you the entire curriculum for the level you're taking. Getting through the entire curriculum is no easy task - that's why we suggest signing up with a prep provider! Signing up with a prep provider means simplifying the behemoth task of sorting through all essential materials. When you sign up with us, you'll receive all the tools you require to study the volume of material in a more efficient, effective, and organised way. You'll even be able to track your progress, create customisable practice tests, and flashcard sets!