The short answer
- While you study: use a question bank after each topic to see what has stuck and what hasn't.
- In the last six to eight weeks: take full mock exams under exam conditions to practise pace, stamina and question selection.
- After every mock: go back to the question bank for the topics where you lost the most marks.
Mock exam or question bank: what each is for
| Compare | Mock exam | Question bank |
|---|---|---|
| Main purpose | Rehearse the whole exam under time pressure | Learn and check one topic or module at a time |
| Format | 180 questions in two timed 135-minute sessions | Short sets, with the answer and explanation straight away |
| Best used | In the last six to eight weeks | Throughout your studying, and for revision |
| Tells you | Your score per topic against its exam weight, and where your time goes | Your accuracy per topic and learning module, and a list of mistakes to redo |
| At CheapMocks | Part of the Academy: the first mock is free, every other mock is in All Access | Part of the Academy: 2,900 original questions, in All Access |
Why a question bank alone isn't enough
Short practice sets are comfortable: you know which topic you are in, and you can look things up between questions. On exam day you get 90 questions in 135 minutes, with topics mixed after the ethics block, and you have to decide quickly when to move on. That skill only comes from sitting full mocks, ideally with both sessions timed.
Why mocks alone aren't enough
A mock tells you which topics are weak, but it is an inefficient way to fix them: one mock has only a handful of questions per learning module. To turn a weak score in, say, fixed income into a strong one, you need to go back to the material and drill that topic with many more questions, and that is what lessons and a question bank are for.
A simple plan that uses both
- Learn a topic, then practise it. Work through its lessons, then answer a set of questions on it in the question bank.
- Take a full mock. When you have covered the whole curriculum, take the free mock under exam conditions.
- Fix the gaps. Use the topic report to pick your weakest, highest-weight topics, revisit their lessons and drill them in the question bank.
- Repeat. Take a further mock every week or so, and repeat step 3 after each one.
Our Level I study plan shows how to spread this over the weeks before your exam.
Which should you choose?
At CheapMocks you don't have to choose. Every mock and the question bank are the practise-and-prove half of CheapMocks Academy, alongside the lessons, videos and flashcards, and one plan, All Access, includes all of it.
- Start free. The first full mock is free, with no account. Every new account also gets 7 days of the question bank and lessons free, with no card. The other mocks come with a plan.
- Then pick how long you need it. A monthly subscription that renews until you cancel, or a 3-month pass, 6-month pass or 12-month pass paid once, with no renewal. See plans.
Frequently asked questions
Should I do mock exams or a question bank first?
Start with a question bank while you work through the curriculum, topic by topic. Switch to full mock exams in the last six to eight weeks, when you have covered everything and need to practise timing and stamina.
How many mock exams should I take before CFA® Level I?
Most candidates take three to five full mocks in the final weeks, reviewing each one properly before taking the next. A mock you take and don't review teaches you very little.
Is a question bank enough on its own?
It is enough to build and check knowledge, but not to prepare for exam day. Level I is 180 questions in two 135-minute sessions, so you also need to practise the pace and the mental stamina with at least a few full mocks.
Do I need both?
Most candidates benefit from both, at different stages. At CheapMocks you don't have to choose: the question bank and the mock exams are both part of CheapMocks Academy, together with the lessons and flashcards, in one plan called All Access.