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 Practice Test 51 Questions CFA Mock Exam 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: 511:**

The following 10 observations are a sample drawn from an approximately normal population:

The sample standard deviation is closest to:

**Option A** : 13.18

**Option B** : 12.50

**Option C** : 11.92

**Show/Hide Answer**

**Option A: 13.18**

**CFA Level 1 Exam Question No: 512:**

The following ten observations are a sample drawn from an approximately normal population:

The sample standard deviation is closest to:

**Option A**: 17.56

**Option B**: 18.58

**Option C**: 19.59

**Show/Hide Answer**

**Option C : 19.59**

**Free CFA Level 1 Mock Exam Question No: 513:**

Which of the following most accurately describes how to standardize a random variable X?

**Option A**: Subtract the mean of X from X, and then divide that result by the standard deviation of Х.

**Option B**: Subtract the mean of X from X, and then divide that result by the standard deviation of the standard normal distribution

**Option C**: Divide x by the difference between the standard deviation of X and the standard deviation of the standard normal distribution

**Show/Hide Answer**

**Option A : Subtract the mean of X from X, and then divide that result by the standard deviation of Х.**

**CFA Level 1 Free Practice Question No: 514:**

A descriptive measure of a population characteristic is best described as a:

**Option A**: parameter

**Option B**: frequency distribution

**Option C**: sample statistic

**Show/Hide Answer**

**Option A : parameter**

**Free CFA Practice Question No: 515:**

In generating an estimate of a population parameter, a larger sample size is most likely to improve the estimator’s:

**Option A**: consistency

**Option B**: efficiency

**Option C**: unbiasedness

**Show/Hide Answer**

**Option C : consistency**

**CFA Level 1 Sample Question No: 516:**

The probability of Event A is 40%. The probability of Event В is 60%. The joint probability of AB is 40%. The probability (P) that A or В occurs, or both occur, is closest to:

**Option A**: 60%

**Option B**: 40%

**Option C**: 84%

**Show/Hide Answer**

**Option A : 60%**

**Free CFA Level 1 Quiz Question NO: 517:**

A U.S. Treasury bill (T-bill) has 90 days to maturity and a bank discount yield of 3.25%. The effective annual yield (EAY) for the T-bill is closest to:

**Option A**: 3.29%

**Option B**: 3.32%

**Option C**: 3.36%

**Show/Hide Answer**

**Option C : 3.36%**

**Free CFA Level 1 Quiz Question NO: 518:**

A borrower is considering three competing mortgage loan offers from her bank. The amount borrowed on the mortgage is $100,000 with monthly compounding.

The rate on the ARM resets at the end of Year 3. Assuming the ARM is reset at 5.500% (i.e., the remaining balance on the loan will now be repaid with 5.500% nominal annual interest), which of the three loans will have the smallest monthly payment after the rate reset at the end of Year 3?

**Option A**: 30-year ARM

**Option B**: 15-year fixed-rate loan

**Option C**: 30-year fixed-rate loan

**Show/Hide Answer**

**Option C : 30-year fixed-rate loan**

**Free CFA Practice Question No: 519:**

By definition, the probability of any event, E, is a number between:

**Option A**: zero and positive one

**Option B**: zero and positive infinity

**Option C**: minus one and positive one

**Show/Hide Answer**

**Option A : zero and positive one**

**CFA Mock Exam Free Question No: 520:**

In setting the confidence interval for the population mean of a normal or approximately normal distribution and given that the sample size is small, Student’s t-distribution is the preferred approach when the variance is:

**Option A**: large

**Option B**: known

**Option C**: unknown

**Show/Hide Answer**

**Option C : unknown**