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Free CFA Level I Quantitative Methods Practice Questions

Quantitative methods on the CFA Level I exam cover time value of money, statistical concepts, probability distributions, sampling, hypothesis testing, and regression basics. This topic is weighted 6-9% of the exam (CFA Institute).

145 questions 7 easy 48 medium 90 hard 2026 syllabus

Sample Questions

Question 1 Easy
In machine learning, overfitting most likely occurs when:
Solution
B is correct.

Overfitting occurs when a model is too complex relative to the amount of training data, causing it to learn patterns specific to the training set (including random noise) rather than the true underlying relationship. This results in high accuracy on training data but poor generalization to new data.
Question 2 Medium
In hypothesis testing, a Type I error occurs when:
Solution
B is correct.

A Type I error is the rejection of a true null hypothesis. The probability of committing a Type I error is equal to the significance level (alpha) of the test.
Question 3 Hard
The excess kurtosis of a normal distribution is:
Solution
B is correct.

A normal distribution has a kurtosis of 3. Excess kurtosis is defined as kurtosis minus 3, so for a normal distribution, excess kurtosis = 3 - 3 = 0. A distribution with excess kurtosis greater than 0 is leptokurtic (fatter tails), while one with excess kurtosis less than 0 is platykurtic (thinner tails).

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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. FreeFellow LLC is a CFA Institute Prep Provider. Its CFA® exam materials are validated by CFA Institute for substantial curriculum coverage and updated annually.

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