Free CAIA Level I Diagnostic Quiz

Take this free 12-question CAIA Level I sample quiz to benchmark your readiness. You get an instant readiness score and a weak-topic breakdown, like a mini practice test. No signup to start, no credit card.

12 questions 5-10 min Instant score 2026 syllabus
Your diagnostic

What the questions look like

Every question in the free CAIA Level I bank carries a full worked solution. Here is one from the pool:

Question 1 Medium
The law of one price states that:
Solution
B is correct.

The law of one price states that two assets (or portfolios) that produce identical cash flows in every state of the world must have the same price. Any price discrepancy would create a riskless arbitrage opportunity.

Guides & Articles

CAIA® Level I Study Guide (2027) What Changed in the 2027 CAIA® Curriculum CAIA® 2027 Exam Changes: New Level I and Level II Topic Weights What Is CAIA®? Charter Levels, Pass Rates, Cost, and Who Should Sit (2026)

Frequently Asked Questions

Is the CAIA Level I diagnostic quiz free?
Yes. The CAIA Level I diagnostic is a free 12-question sample quiz with instant scoring. You can take it with no signup and no credit card. Creating a free account lets you keep practicing with worked solutions and preview a study plan aimed at your weak topics.
How long is the CAIA Level I diagnostic quiz?
The diagnostic is 12 questions and takes about 5 to 10 minutes. You get instant feedback on each question, then a readiness score with a topic-by-topic breakdown at the end.
Does the CAIA Level I diagnostic predict whether I will pass?
It gives you a starting readiness estimate and shows your weakest topics. It is a benchmark to focus your studying, not a pass guarantee. The readiness score sharpens as you practice more of the free CAIA Level I question bank.
What is the difference between the diagnostic quiz and a full practice test?
The diagnostic is a short 12-question sample quiz that maps your strengths and weaknesses quickly. For full-length practice, FreeFellow has the entire CAIA Level I question bank free, plus timed mock exams in the Fellow tier.

About FreeFellow

Jeffrey Ting, founder of FreeFellow
Jeffrey Ting
FSA, CFA · Founder

FreeFellow was built by Jeffrey Ting, a credentialed actuary and CFA charterholder who has passed thirteen of the hardest exams in finance, all on his first attempt. He paid four-figure prep fees along the way.

So he started writing his own questions, then lessons, then mock exams, until it grew into a full prep platform covering 40 exams with more than 45,000 original practice questions.

01
Cost shouldn't decide who gets in.

A CFA charter, a CPA license, an actuarial credential. Each opens a real career, but prep fees add to the cost of getting there. FreeFellow keeps its original question bank and written lessons free so you can study even if a paid course is out of reach.

02
Free should mean free.

The original question bank, the worked solutions, the topic lessons, mixed practice, and your readiness score stay free, forever. Full access needs a free account, and practice usage limits apply. Fellow adds AI grading on supported exams, spaced-repetition flashcards, full-length mock exams, analytics, and a study plan that adapts to your progress.

Meet the founder ›Read the values ›

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Start your CAIA Level I prep free.

The full original CAIA Level I question bank, worked solutions, and lessons are free.

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