Cfa Level 2 Mock Questions [verified] May 2026

Item Set 1: Equity Valuation (FCFF)

Vignette
Jenna Liu, CFA, is analyzing XYZ Corp for a potential investment. Selected financial data (in $ millions) for 2024:

Re-answer blind: Go back to every incorrect question. Without looking at the solution, try to solve it again. If you get it right this time, you had a "careless error" (fixable). If you get it wrong again, you have a "knowledge gap." cfa level 2 mock questions

Section 1: Ethics and Professional Standards (10 questions) Item Set 1: Equity Valuation (FCFF) Vignette Jenna

The skill required here is not just knowledge—it is context switching. One minute you are analyzing a foreign subsidiary’s currency translation; the next minute you are valuing a swap. Mock questions train your brain to pivot rapidly between Financial Statement Analysis, Equity, Fixed Income, and Derivatives. Goal: Stamina and time pressure

Weeks 3 & 4 (Mid Mocks – Timed)

• Goal: Stamina and time pressure.
• Action: Take Mocks #3 and #4 in a library. Strict 2 hours and 12 minutes per session (or 4 hours 24 minutes for the full exam). Do not pause.
• Crucial Tactics: If you are stuck on a vignette after 12 minutes, guess "C" and move on. Practice the art of the educated guess.

Representative sample vignette and mock questions

Note: these are concise examples to mimic Level II style (vignette + several questions).