Free CFA Level I Practice Questions PDF with Answers (2026)

Free sample PDF: 50 original questions across all 10 topics, answer key with brief solutions, US Letter print layout. Download once, practice anywhere.

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What's inside the PDF

50 original questions grouped by topic, with per-topic counts weighted to the official 2026 topic weights
Three difficulty levels in a 15 easy / 20 medium / 15 hard mix, each question labeled
Answer key with brief solutions for every question; the full step-by-step solutions and per-choice notes are in the free online bank
Print-ready US Letter layout with math rendered in full notation

Looking for past papers?

CFA Institute does not release past exams; real questions retire into secure pools and never get published. Every question in this PDF is a FreeFellow original written for the 2026 curriculum, not retired exam content. For study strategy and the full topic-weight breakdown, see the free CFA Level I practice questions guide.

Frequently Asked Questions

Is the CFA Level I practice questions PDF free?

Yes. The 50-question sample PDF is a direct download with no signup, no email, and no credit card required. It includes an answer key with brief solutions for every question.

Are these CFA Level I past papers or real exam questions?

No. CFA Institute does not release past exams, and any PDF claiming to contain genuine past papers is fake or infringing. Every question in this PDF is a FreeFellow original written for the 2026 curriculum at exam difficulty.

Does the PDF include answers and solutions?

Yes. Part 1 lists the 50 questions grouped by topic; Part 2 is an answer key with a brief solution for each. The full step-by-step solutions and per-choice notes live in the free online bank.

Where can I practice more than 50 questions?

The full bank of 1,499 CFA Level I questions is free online with detailed solutions, topic and difficulty filters, mixed practice, and readiness tracking. No trial, no question cap.

What is FreeFellow's relationship with CFA Institute?

FreeFellow LLC is a CFA Institute Prep Provider. CFA Institute does not endorse, promote, review, or warrant the accuracy or quality of the products or services offered by FreeFellow LLC.

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About FreeFellow

Jeffrey Ting

FSA, CFA · Founder

FreeFellow was built by Jeffrey Ting, a credentialed actuary and CFA charterholder who passed thirteen of the hardest exams in finance on the first attempt, and paid four-figure prep fees for every one. The learning itself was always free. The price was a moat.

So he started writing his own questions, then lessons, then mock exams, until it grew into a full prep platform covering 35 finance credentials with more than 40,000 original practice questions. The name says exactly what it is: the question bank is free, and Fellow is what you become once you pass. FreeFellow LLC is a CFA Institute Prep Provider. Its CFA® exam materials are validated by CFA Institute for substantial curriculum coverage and updated annually.

Cost shouldn't decide who gets in.

The exam is a fair gate. A four-figure prep course is not. FreeFellow takes the second gate down, so the exam is the only one left.

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No trial clock, no email gate, no credit card. The question bank, worked solutions, lessons, and readiness score stay free, and they are enough to pass.

Built by someone who sat where you sit.

He paid for the big-name courses, found nothing he respected, and built the prep he wished had existed. Not a marketing team that has never sat an exam.

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