Hi CFA Aspirants, welcome to AKVTutorials. Are you preparing for CFA Level 1, 2, 3 exams for making a career in CFA (Charted Financial Analyst). According to CFA Wikipedia, CFA The Chartered Financial Analyst (CFA) program is a postgraduate professional certification offered internationally by the American-based CFA Institute. A candidate who successfully completes the program and meets other professional requirements is awarded the “CFA charter” and becomes a “CFA charter holder”. Therefore, you need CFA Study Notes and Free CFA Level 1 Mock Exam Test 53 Questions Bank Answer Keys AMBIPi.
In this article, you will get Free CFA Level 1 Mock Exam Practice Questions.
Free CFA Level 1 Mock Practice Exam Questions Bank
Free CFA Level 1 Practice Question No: 521:
Information about the coupon rates on the various long-term fixed-rate debt issues of a company can most likely be found in the:
Option A : non-current liabilities section of the balance sheet
Option B : Management Discussion & Analysis (MD&A)
Option C : notes to the financial statements
Show/Hide Answer
Option C : notes to the financial statements
CFA Level 1 Exam Question No: 522:
A company is purchasing a customer list that it expects will provide economic benefits for the next 5 years. The company chooses to use an accelerated amortization method. The choice will most likely result in:
Option A: the highest amortization expense in the first year
Option B: the highest amortization expense in the fifth year
Option C: an equal amortization expense in all 5 years
Show/Hide Answer
Option A : the highest amortization expense in the first year
Free CFA Level 1 Mock Exam Question No: 523:
The following information (in millions) on a company is available
Cost of goods $500
Increase in total assets $250
Increase in total liabilities $200
Change in inventory -$30
Change in accounts payable -$25
The amount of cash (in millions) that the company paid to its suppliers is closest to:
Option A: $505
Option B: $495
Option C: $445
Show/Hide Answer
Option B : $495
CFA Level 1 Free Practice Question No: 524:
Which of the following is most likely a benefit of the direct method for reporting cash flow from operating activities? Compared with the indirect method, the direct method:
Option A: mirrors the forecasting approach normally used by analysts
Option B: provides insight on differences between net income and operating cash flows
Option C: provides details on the specific sources of operating receipts and payments
Show/Hide Answer
Option C : provides details on the specific sources of operating receipts and payments
Free CFA Practice Question No: 525:
On 1 January, a company that prepares its financial statements according to International Financial Reporting Standards (IFRS) arranged financing for the construction of a new plant. The company:
Borrowed NZ$5,000,000 at an interest rate of 8%
Issued NZ$5, 000,000 of preferred shares with a cumulative dividend rate of 6%,and
Temporarily invested NZ$2,000,000 of the loan proceeds during the first six months of construction and earned 7% on that amount.
The amount of financing costs to be capitalized to the cost of the plant in the first year is closest to:
Option A: NZ$330,000
Option B: NZ$400,000
Option C: NZ$630,000
Show/Hide Answer
Option A : NZ$330,000
CFA Level 1 Sample Question No: 526:
The following information for the current year is available for a company that prepares its financial statements in accordance with US GAAP.
$thousands
Revenue 7,000
Cost of goods sold 4,200
Other operating expenses 500
Restructuring costs 250
Interest expense 200
The company’s operating profit (in thousands) is closest to:
Option A: $2,050
Option B: $2,300
Option C: $1,850
Show/Hide Answer
Option A : $2,050
Free CFA Level 1 Quiz Question NO: 527:
For a company that prepares its financial statements under International Financial Reporting Standards (IFRS), for which of the following assets is it most likely that the company could report using the fair value model?
Option A: Houses built by the company for sale to customers
Option B: A building owned by the company and leased out to tenants
Option C: A building the company owns and uses to house its administrative activities
Show/Hide Answer
Option B : A building owned by the company and leased out to tenants
Free CFA Level 1 Quiz Question NO: 528:
The method a high end custom-built motorcycle manufacturer uses to value its inventory results in the matching of the physical flow of the particular items sold, and the items remaining in inventory, to their actual cost. Which of the following inventory valuation methods is the manufacturer most likely using?
Option A: FIFO
Option B: Weighted average cost
Option C: Specific identification
Show/Hide Answer
Option C : Specific identification
Free CFA Practice Question No: 529:
An analyst is reviewing the property, plant, and equipment disclosure related to a company’s warehouse. The company uses the International Financial Reporting Standards (IFRS) revaluation model. The analyst would least likely be able to determine:
Option A: the carrying amount under the cost model
Option B: the original date of acquisition
Option C: how the fair value was obtained
Show/Hide Answer
Option B : the original date of acquisition
CFA Mock Exam Free Question No: 530:
Other comprehensive income is least likely to include gains or losses on:
Option A: the sale or disposal of discontinued operations
Option B: the translation of foreign currency-denominated subsidiary financial statements
Option C: derivative contracts accounted for as hedges
Show/Hide Answer
Option A : the sale or disposal of discontinued operations
