Practice for the CFA Level I exam with the Kaplan Schweser QBank. Our question bank will help you master exam questions and uncover areas you need more practice on.

I actually find the Qbank somewhat trickier than the EOC questions For the FRA for example I typically score around 80-85% in the EOC questions and 65-70% in the Qbank (most difficult questions only of course). I really cannot explain this though. One factor is that very often the way questions are formulated in the Qbank is unclear and you can reasonnably choose 2 different answers and still be theoratically right, even if the Qbank considers your answer is wrong. Does this happen to anybody else? I don’t consider them as being very relevant for the exam, but I do use them after finishing a reading to see how well I took in the concepts of the reading and to have a quick ‘review’. For formulas, I even keep the CFAI-book next to me to look them up, because I consider the QBank as a first exercise, not as a genuine test. I will use Elan PQ for second review.

I found their quality better for L1, and hoping the same for L2 (haven’t used them yet, so no comment on quality). EoC is the final test before mocks.

It appears many people buy the qbank but do not know how to effectively use it. Here is how I used it to pass level 1. Has about 4000 questions for level 1 with about 500-600 for each topic.

Start off by skim reading a book just to get a sense of the material. (FRA, Equity, FI, PM) at level 1 the order does not matter. With a “blank” Qbank go to the option to “Browse Questions” and go through every question in a reading. (Typically 100-200 questions) read the question, see the correct answer. The point here is to start getting comfortable with the format and question types.

Qbank typically has multiple questions covering the same basic formula/concept with a different input/twist. After goings through every question in all the LOS in the reading, you will get fast. Use the option to “create exam”, with a full 120 questions from that reading. You will be tested on the same questions you just saw the answers too, but don’t expect to get 100 percent.

Once you finish that “exam”, complete 100% of the questions in that reading. The goal is to go through every question in the Qbank.The next step is to create exams using “previously answered incorrect questions” these will typically be the hard ones that you will need to focus on.

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Ethics has about 600 questions. Towards the end of your review, you should be able to create 5 120 question exams and you will be flying through them because you have already seen them. In my case there was about ~80 questions that I repeatedly got wrong and it was a very tailor made exam for my weakness. When I took the real exam Every question was “different” from anything in the Qbank.

But I had seem the concepts so many times, that it was just an issue of reverse engineering. The practice of getting fast is helpful also. Obviously do the mock/ full practice once you complete the Qbank. TLDR: memorize the Qbank and the solutions. It takes too long to trying answering all the questions from scratch, browse the questions and answers first.

Why are you so worried about piddly stuff like this? There is a way to set Q-Bank so that you can answer the question, and immediately see the correct answer and read the “commentary”. That is, you don’t have to wait untilyou finish the test. This is highly preferable to answering all 50 questions now, then reading all 50 answers later. Because if you take a 50-question quiz, then you’re re-reading the question an HOUR AND A HALF after you answered it. You can’t remember the question, and certainly can’t remember what you were thinking. So it does you no good to look at the answer an hour and a half later.