CFA LEVEL I MOCK EXAM100 QUESTIONS AND
CORRECT DETAILED ANSWERS FOR
GUARANTEED SUCCESS / NEWEST 2025/2026
GRADED A+||BRAND NEW VERSION!!
1. According to the CFA Institute Code of Ethics, members and candidates
must place the integrity of the investment profession above:
A. Employer interests
B. Client interests
C. Personal interests
D. Market efficiency
The Code requires members to place the integrity of the profession and client
interests above their own personal interests.
2. Which action most likely violates the CFA Institute Standards of Professional
Conduct?
A. Accepting gifts with full disclosure
B. Using public information in analysis
C. Selective disclosure of material nonpublic information
D. Maintaining client confidentiality
Selective disclosure of material nonpublic information violates the Standard on
Market Integrity.
3. A CFA candidate copies formulas into the exam room. This violates which
Standard?
, A. Independence and Objectivity
B. Misconduct
C. Fair Dealing
D. Duties to Employers
Any act compromising the integrity of the CFA Program is considered misconduct.
4. Under the Standards, which information must a member keep confidential?
A. Illegal client activity
B. Client records and personal information
C. Government requests
D. Market manipulation evidence
Confidentiality applies unless disclosure is required by law or involves illegal
activity.
5. When managing conflicts of interest, the most appropriate action is to:
A. Avoid all conflicts
B. Ignore immaterial conflicts
C. Disclose conflicts fully and prominently
D. Inform only supervisors
Full and fair disclosure allows clients to evaluate potential biases.
Quantitative Methods
6. The mean of a data set is best described as:
A. The most frequent value
B. The middle value
C. The arithmetic average
D. The squared deviation
Mean equals the sum of observations divided by the number of observations.
, 7. Which measure is least affected by outliers?
A. Mean
B. Standard deviation
C. Variance
D. Median
The median depends only on rank order, not magnitude.
8. A positive skewness indicates:
A. Symmetrical distribution
B. Left tail longer
C. Right tail longer
D. Normal distribution
Positive skew means the right tail is longer or fatter.
9. The probability of at least one event occurring is:
A. P(A ∩ B)
B. 1 − P(no event occurs)
C. P(A | B)
D. P(A) × P(B)
Using complement rules simplifies probability calculations.
10.A Type I error occurs when:
A. A false null hypothesis is accepted
B. A true null hypothesis is rejected
C. A true alternative is rejected
D. No decision is made
Type I error = false positive.
CORRECT DETAILED ANSWERS FOR
GUARANTEED SUCCESS / NEWEST 2025/2026
GRADED A+||BRAND NEW VERSION!!
1. According to the CFA Institute Code of Ethics, members and candidates
must place the integrity of the investment profession above:
A. Employer interests
B. Client interests
C. Personal interests
D. Market efficiency
The Code requires members to place the integrity of the profession and client
interests above their own personal interests.
2. Which action most likely violates the CFA Institute Standards of Professional
Conduct?
A. Accepting gifts with full disclosure
B. Using public information in analysis
C. Selective disclosure of material nonpublic information
D. Maintaining client confidentiality
Selective disclosure of material nonpublic information violates the Standard on
Market Integrity.
3. A CFA candidate copies formulas into the exam room. This violates which
Standard?
, A. Independence and Objectivity
B. Misconduct
C. Fair Dealing
D. Duties to Employers
Any act compromising the integrity of the CFA Program is considered misconduct.
4. Under the Standards, which information must a member keep confidential?
A. Illegal client activity
B. Client records and personal information
C. Government requests
D. Market manipulation evidence
Confidentiality applies unless disclosure is required by law or involves illegal
activity.
5. When managing conflicts of interest, the most appropriate action is to:
A. Avoid all conflicts
B. Ignore immaterial conflicts
C. Disclose conflicts fully and prominently
D. Inform only supervisors
Full and fair disclosure allows clients to evaluate potential biases.
Quantitative Methods
6. The mean of a data set is best described as:
A. The most frequent value
B. The middle value
C. The arithmetic average
D. The squared deviation
Mean equals the sum of observations divided by the number of observations.
, 7. Which measure is least affected by outliers?
A. Mean
B. Standard deviation
C. Variance
D. Median
The median depends only on rank order, not magnitude.
8. A positive skewness indicates:
A. Symmetrical distribution
B. Left tail longer
C. Right tail longer
D. Normal distribution
Positive skew means the right tail is longer or fatter.
9. The probability of at least one event occurring is:
A. P(A ∩ B)
B. 1 − P(no event occurs)
C. P(A | B)
D. P(A) × P(B)
Using complement rules simplifies probability calculations.
10.A Type I error occurs when:
A. A false null hypothesis is accepted
B. A true null hypothesis is rejected
C. A true alternative is rejected
D. No decision is made
Type I error = false positive.
