CFA Level II Test Prep - Practice Exams

BSAS Practice Exams Levels I, II & III

Why You Need the BSAS Practice Exam

Be smart and efficient as you prepare for your CFA® Exams. The BSAS Practice Exam offers a package of study tools that allows you to check, double-check, and re-check your knowledge. Our qualified team of question-writers ensures that our Practice Exams focus on the most recent Body of Knowledge® and test formats.

  • Full-length, properly formatted practice exam based on the 2016 Learning Outcome Statements® with both morning and afternoon sections
  • Detailed answer key with curriculum references, explanations and calculations (when appropriate)

Identify your areas of weakness before you take your CFA Exam

The BSAS Practice Exam has proven to be a valuable study tool for candidates preparing for the exam. Learn more about our multi-channel exam system, flexible enough to be used simultaneously, individually, or sequentially.

  • Online Test Bank – Levels I & II only – Unlimited use (available now)
  • BSAS Practice Exam PDF – Printable Question & Answer Key (available April 11 – June 4, exam day)
  • BSAS Practice Exam Live Simulation – takes place in Boston (May 21)

Online Test Bank – Levels I & II only – Features (available now): 

  • Questions separated by subject matter
  • Unlimited use of the test bank between the time of purchase and the actual exam*
  • Immediate or delayed grading
  • Timing feature
  • Detailed answer key that references specific readings and Learning Outcome Statements
  • The ability to start up where you left off on a particular exam
  • Automatic scoring


  • “I highly recommend the BSAS Practice Exam as a way to further strengthen one’s understanding of the CFA exam material. Having had success using the BSAS Practice Exams at both Levels II and III in the final month of preparation, I consider it a key ingredient in my [recipe] for achieving my desired outcome for the CFA Program, i.e. passing all 3 levels of the CFA Exam on first attempt in 18 months. Thank you so much BSAS! I couldn’t have done it without you.”
  • “After spending months reviewing the practice problems provided by the CFA Institute, it can be difficult to determine whether incremental improvements have led to better performance versus simply having memorized the solutions to those practice problems. The BSAS Practice Exam provided a fresh perspective to exam preparation with new problems that can only improve performance on test day.”

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BRAS Practice Exam -- flexible, multi-channel exam system.
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Focused exam practice to get you ready for the CFA® exams

Practice is key for the notoriously tough CFA® exams. Our mock exams, progress tests and hurdle test will ensure you are ready for the exams.

Our proctored mock exam recreates exam conditions so you are fully prepared for rigors of exam day. After the mock exam you will have access to a debrief by one of our expert CFA exam training instructors. They will run through each topic areas, providing advice and support on how to improve on your score for the real exam.

For more information, please visit our website:

Download free questions with answers and instructor recordings

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Practice Exams, Vol. 1 & 2 (6 full-length exams) - Kaplan Schweser

Practice Exams, Volume 1 & 2

There’s no such thing as being over-prepared! Each printed volume contains 3 full-length practice exams that let you realistically test yourself. Demonstrate your knowledge of the CFA® curriculum and gain the confidence you need to perform your best on the actual CFA exam.

Includes answer explanations, LOS references, online component with bubblesheet for entering answers, and Performance Tracker for analyzing results and comparing to other candidates.

Also available in online version. 

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SchweserPro™ QBank - Kaplan Schweser

Practice is the key to any successful study program! Thousands of multiple-choice questions will help you effectively focus your attention where needed as you continually quiz yourself and review critical concepts and Learning Outcome Statements (LOS).

With the SchweserPro™ QBank, you can:

  • Quiz yourself with thousands of multiple-choice questions

  • Build custom exams using the topics and the number of questions you select

  • View answer explanations and LOS summaries

  • Access your QBank online, with available offline access

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Live Mock Exam - Kaplan Schweser

Now that you have prepared and practiced for the Level II CFA® exam, you are ready to perform and put your skills and knowledge to the test. The Schweser Mock Exam is as close to the actual CFA exam in format, difficulty, and length as we can make it. The Mock Exam helps develop your test-taking skills, identify your weak areas, and demonstrate your mastery of the CFA curriculum. Afterward, view answer explanations, check your score compared to those of other candidates, and drill deeper into each question with our Exam Tutorial.

The Live Mock Exam includes:

  • Fully proctored and timed 6-hour exam (two 3-hour sessions)
  • CFA Institute topic weightings
  • Printed answer key and online answer explanations
  • Online scoring and performance tracking with a comparison to other Mock Exam takers
  • LOS and CFA curriculum page references for every question
  • Exam Tutorial
    • Over 10 hours of instruction on the concepts and techniques necessary to answer each question
    • Voice-over animated slides and instructor annotations that review the underlying concepts and techniques for each Mock Exam question and relates them to selecting the correct answer choice

The Live Mock for June 2015 exam is held in mid-May in select locations around the globe. Click the link below to visit our site and check available locations and dates.

Kaplan Schweser's 2015 Live Mock Exam - Level II
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Online Mock Exam - Kaplan Schweser

The Schweser Online Mock Exam is designed to test your knowledge and identify your weak areas by simulating the exam day experience. It is as close to the actual CFA® exam in format, content, difficulty, and length as we can make it.

The Online Mock Exam includes:

  • Timed 6-hour exam (two 3-hour sessions)
  • CFA Institute topic weightings
  • Printable answer key and online answer explanations
  • Online scoring and performance tracking by topic area with a comparison to other Mock Exam candidates
  • Answer explanations include LOS and CFA curriculum page references for every question
  • Exam Tutorial
    • Over 10 hours of instruction on the concepts and techniques necessary to answer each question
    • Voice-over animated slides and instructor writing that reviews the underlying concepts and techniques for each Mock Exam question and relates them to the selection of the correct answer choice

The Online Mock Exam is available the same day as the live mock, through exam day.

Kaplan Schweser's 2015 Online Mock Exam - Level II
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Adaptive preparation - smart, personal and free

PrepSmarter uses adaptive learning technology and cognitive science principles to quickly increase your knowledge retention and confidence so you retain everything you learn and can confidently apply it on exams and beyond.

“This was my second attempt at Level II. With curriculum this vast, I kept forgetting past material as I moved forward. Regardless of how much I studied, I always drew a blank. PrepSmarter helped me internalise all the material in a short span. I’m confident I’ll pass this time. Thank you!”
          – Ewan R. CFA Level II Candidate, June 2015


  • Practice at your proficiency level with an engine that adapts to you.
  • Don’t waste time doing questions that are either too easy or too difficult and discouraging.
  • Sweat less, score more. We have over 10,000 questions for all levels. But with our adaptive practice engine, you’d never need that many, because it delivers question at the right level to optimize your learning.


  • Practice daily to remember longer and enjoy the benefits of spacing effect.
  • Stay disciplined with bite-sized learning released daily in topics of your choice.
  • Deep-encode existing knowledge with automatic spaced reinforcements, as you move forward.


  • Master concepts not just memorize them. Our confidence-based learning models dynamically address your knowledge gaps and align your confidence with your knowledge.
  • PrepSmarter continuously learns about you to inform, predict, and adapt the learning environment to fit your unique learning needs.


  • Learn anytime, anywhere. PrepSmarter is designed to look perfect in full range of devices so you have an impeccable learning experience wherever you are.

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Wiley Practice Questions

Reinforce your understanding of the curriculum with approximately 1,500 practice questions.

Our practice questions are primarily designed to test your concepts and to evaluate the depth of your understanding of the curriculum. They also contain a fair number of problems that aim to drive home material that must be memorized for success on the exam. Our practice questions will make you realize how smart the questions on the exam actually are, and will teach you to structure your thinking and avoid careless mistakes come exam day.

Please Note:
We do not provide any practice questions for Ethics at the moment.
We only offer electronic versions of our practice questions for sale.

What makes us better? Here is the short list:

1. Our explanations are more detailed. We teach you the concepts not just the recap.
2. Our Practice Questions are closer to the CFAI exam questions. They prepare you better by matching exam difficulty, trap doors and misdirection so you’re ready on exam day.
3. Our Study Guides use color and cross-references so you clearly follow explanations and can map them back to the Program Curriculum.
4. Our Videos Lectures are more in depth. Wiley videos teach you the underlying material from scratch. So when you’re unsure of a topic, you can reinforce the fundamentals.
5. Wiley is one of the most respected educational providers in the world– a leader in Business, Finance and Accounting so you can be assured of our quality, integrity and support.

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