Is Finquiz any good for Level 3?

Just looking for a source of A LOT of questions. I didn’t use any 3rd party materials for L1 and L2 and just want a place where I can answer q’s to be sure I understand the basics and use CFAI mocks and EOCs as well to test application of concepts.

So just trying to compare Schweser qbank vs. Finquiz.


I useed both and can comment. I didn’t like qbank only becuase it seemed like the easy ones were just too simple and the hard ones were grabbing materials that were outside of the scope of the readings. Finquiz stays within the curriculum and picks off everything from some obscure parts of the text that you didn’t think existed - helpful if you don’t read all text - but I found numerous errors in the way the questions were written. In fact the error rate is about 1 out 20 questions. I had email the company just to make sure that my thinking was correct a number of times.

Thanks Mellon. The errors are annoying but trying to find best method to get a lot of relevant questions that can reinforce my knowledge of concepts and terms.

re-taker here…i picked up FinQuiz for L3 because it seems like the CFAI practice materials and the Schweser practice material (Q-bank, practice exams) are not updated for new questions each year. So I went to FinQuiz because I wanted a “fresh” source of questions. Like Mellon, I also had some frustration with some FinQuiz questions where wording was a bit strange and/or obscure and/or a few answers didn’t make sense. I think 1/20 is about right. I also noticed a few questions on FinQuiz that appeared to be hijjacked from Q-Bank, but not many.

Bottom line…FinQuiz really helped me to master some calculation methodologies (swap calculations, and some option calculations, in particular) by explaining these areas in a way that Schweser/CFAI does not and providing lots of examples to reinforce, which helped me to do them WAY faster than the way Schweser taught them…so that was worth the price in my opinion. Just my 2 cents. Good luck.

PS My opinion is that CFAI intentionally writes its exams “away” from Schweser materials and tries to emphasize areas which favors candidates who have studied using CFAI and puts those who used Schweser exclusively at a relative disadvantage. FinQuiz is a bit off the radar so I think that does not hurt, either, in terms of getting full exposure to the materials.

just wanted to add that Fin Quiz (including it’s errors and stuff) was better than Qbank on balance. This comment only has to do with the testing portion of Finzquiz. As for the notes, Schweser is much better, IMHO (except for a couple of sections in Alt. Inv., Fixed Income, a few others where you almost have to use the text).

1, It has a cheat-sheet for options…a summary page for the chapter of options. Recreating your own sheet might not be a bad idea.

2, Some articles in FinQuiz’s “CFA Exam Tips” are also helpful to me.

I liked the FinQuiz materials, their mock exam is a beast.