Free CFA Level I Corporate Issuers Practice Questions
Corporate issuers on the CFA Level I exam tests corporate governance, capital structure decisions, working capital management, and cost of capital estimation. Weighted 6-9% (CFA Institute).
122 questions23 easy59 medium40 hard2026 syllabus
Sample Questions
Question 1
Easy
An independent board member is best described as a director who:
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Correct Answer: A
Solution
A is correct.
An independent director has no material relationship with the company—no employment, consulting, family ties, or significant business dealings—beyond serving on the board. This independence enables objective oversight of management.
Question 2
Medium
A project's net present value (NPV) represents:
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Correct Answer: A
Solution
A is correct.
NPV is calculated by discounting all expected future cash flows at the required rate of return and subtracting the initial investment. A positive NPV means the project adds value to the firm.
Question 3
Hard
A limited liability company (LLC) is most accurately described as which of the following?
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Correct Answer: B
Solution
B is correct.
An LLC combines the liability protection of a corporation with the pass-through tax treatment of a partnership, making it a hybrid form.
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