# Free CFA Level 2 Readiness Check > Free CFA Level 2 practice questions online: 60 timed questions across all ten topic areas, 90 minutes, 70% readiness target, topic diagnosis, and full answer review. Independent prep — not CFA Institute material. ## What is the CFA Level 2 exam? CFA Level 2 is the second exam in the CFA Program. After Level 1’s broad foundations, Level 2 emphasizes application and analysis through item-set (vignette) questions across ten topic areas — Ethics, Quantitative Methods, Economics, Financial Statement Analysis, Corporate Issuers, Equity, Fixed Income, Derivatives, Alternatives, and Portfolio Management. Candidates who treat it like another Level 1 recognition quiz usually underperform; Level 2 rewards reading a case, selecting the right valuation or accounting judgment, and managing time across sets. - Administered by: CFA Institute (computer-based testing at Prometric). Confirm current topic weights and session windows on cfainstitute.org — this UniPrep2Go page is independent practice, not CFA Institute material. - Official format: Official Level 2 uses item-set / vignette-style questions across two sessions. This UniPrep2Go readiness check is a free 60-question / 90-minute / 70% diagnostic with topic scoring — a baseline before full item-set blocks, not a substitute for CFA Institute mocks. ## Official certification resources Topic weights and timing follow published CFA Institute outlines. Verify fees and scheduling on the official site — UniPrep2Go questions are independent study aids. - [CFA Level II exam overview](https://www.cfainstitute.org/programs/cfa-program/candidate-resources/level-ii-exams) ## Product facts - Slug: cfa-level-2-readiness-check - Practice test label: CFA Level 2 practice test - Vertical: finance (https://uniprep2go.study/mock-exams/v/finance) - Family: cfa - Linked deck: cfa-level-2-anki-deck - Linked deck status: available - Linked deck checkout: https://pixidstudio.gumroad.com/l/cfa-level-2-anki?wanted=true - Status: live - Access mode: free_timed_mock - Questions: 60 - Duration: 90 minutes - Pass threshold: 70% - Price: Free timed practice test - Pricing note: Free timed mock with full topic report — no signup. After your score, buy the linked Anki deck on Gumroad to drill weak topics with spaced repetition. - Exam body: CFA Institute - Search aliases: CFA L2, CFA Level 2 - Landing page: https://uniprep2go.study/mock-exams/cfa-level-2-readiness-check - Facts JSON: https://uniprep2go.study/api/mock-exams/cfa-level-2-readiness-check ## About this free practice test A timed CFA Level 2 readiness diagnostic with vignette-style application prompts across ethics, FSA, equity, fixed income, derivatives, and portfolio management. - Built for: CFA Level 2 candidates who passed Level 1 and want a baseline before item-set practice blocks. - Topics: Ethical and Professional Standards, Quantitative Methods, Economics, Financial Statement Analysis, Corporate Issuers, Equity Valuation, Fixed Income, Derivatives, Alternative Investments, Portfolio Management ## Report features - Pass/no-pass readiness verdict - Weighted topic diagnosis - Pacing analysis - Full answer review with explanations - Linked Anki deck repair plan for no-pass or borderline results ## Question source Original UniPrep2Go practice items aligned to published topic outlines — not leaked official exam questions. ## Structure - Ethical and Professional Standards: 6 questions, target 70% - Quantitative Methods: 6 questions, target 70% - Economics: 6 questions, target 70% - Financial Statement Analysis: 6 questions, target 70% - Corporate Issuers: 6 questions, target 70% - Equity Valuation: 6 questions, target 70% - Fixed Income: 6 questions, target 70% - Derivatives: 6 questions, target 70% - Alternative Investments: 6 questions, target 70% - Portfolio Management: 6 questions, target 70% ## Official source note Readiness check sampled across CFA Level 2 topic weights with vignette-style application prompts. Not a full CFA Institute mock exam. ## CFA Level 2 exam facts - Exam name: CFA Level 2 - Administered by: CFA Institute - Questions: 88 vignette-linked multiple-choice (22 item sets × 4 questions per session; 2 sessions) - Scored questions: 88 - Time: 4 hours 24 minutes total (two 132-minute sessions with optional break) - Passing score: No fixed passing score published; CFA Institute sets the MPS each cycle - Delivery: Computer-based at Prometric test centers - Content outline effective: 2025–2026 exam cycle topic weights - Verify current details at: https://www.cfainstitute.org/programs/cfa-program/candidate-resources/level-ii-exams Official sources: - CFA Level II exam overview: https://www.cfainstitute.org/programs/cfa-program/candidate-resources/level-ii-exams ## CFA Level 2 knowledge domains and weights | # | Knowledge domain | Weight | | --- | --- | ---: | | 1 | Ethical and Professional Standards | 10–15% | | 2 | Quantitative Methods | 5–10% | | 3 | Economics | 5–10% | | 4 | Financial Statement Analysis | 10–15% | | 5 | Corporate Issuers | 5–10% | | 6 | Equity Valuation | 10–15% | | 7 | Fixed Income | 10–15% | | 8 | Derivatives | 5–10% | | 9 | Alternative Investments | 5–10% | | 10 | Portfolio Management | 10–15% | ## High-yield CFA Level 2 facts (commonly tested) - Level 2 tests application in vignettes — formulas must be tied to a short case, not recalled in isolation. - FCFF = NI + NCC + Int(1 − t) − FCInv − WCInv; FCFE = NI + NCC − FCInv − WCInv + Net Borrowing. - Pension accounting (IFRS vs U.S. GAAP) and intercorporate investments are core FSA vignette topics. - Arbitrage-free fixed income valuation and binomial trees appear frequently in fixed income item sets. - Ethics at Level 2 emphasizes the Code and Standards applied to portfolio management and research conflicts. ## Common CFA Level 2 candidate questions (Q&A) ### How many questions are on CFA Level 2? 88 multiple-choice questions grouped into 44 vignette item sets (22 per session, typically 4 questions per vignette). ### How long is the CFA Level 2 exam? Two 132-minute sessions (4 hours 24 minutes total), plus an optional break between sessions. ### What format is CFA Level 2? Vignette-based item sets — each mini-case has several linked multiple-choice questions; not standalone one-liners like Level 1. ### What are the CFA Level 2 topic weights? Ten topics; Financial Statement Analysis, Equity, Fixed Income, Portfolio Management, and Ethics are each 10–15%; Quant, Economics, Corporate Issuers, Derivatives, and Alternatives are 5–10%. ## FAQ ### What is the CFA Level 2 exam? It is the second CFA Program exam. It focuses on applying Level 1 tools to analysis and valuation through vignette-style item sets across ten topic areas. ### How is CFA Level 2 different from Level 1? Level 1 stresses knowledge and comprehension with independent questions. Level 2 stresses application and analysis with item sets tied to a shared vignette — memorisation alone is rarely enough. ### Is this UniPrep2Go check an official CFA Institute mock? No. It is an independent free readiness diagnostic (60 questions, 90 minutes, 70% target) with topic scoring. Use CFA Institute materials and mocks for official format practice. ### What score should I aim for on this readiness check? Treat 70%+ with no catastrophic weak pillar as a readiness pass signal. Borderline scores mean repair Anki rows in Ethics, FSA, equity, or fixed income before another full block. ### Which topics matter most on CFA Level 2? Weights change by curriculum year, but Ethics, Financial Statement Analysis, Equity, and Fixed Income usually deserve early daily drill because they are both heavy and vignette-dense. ### How should I use the linked CFA Level 2 Anki deck with this mock? After the topic report, queue only failed domains into Anki for spaced repetition, then re-sit a shorter block on those pillars before returning to full-length item sets. ### Is there a free CFA Level 2 practice test? Yes — UniPrep2Go hosts a free online CFA Level 2 practice test with 60 timed questions, 90 minutes, a 70% pass target, topic scoring, and a full answer review report. Free timed practice test. ### How many questions are on this free CFA Level 2 practice test? This UniPrep2Go practice test has 60 multiple-choice questions timed against a 90-minute target. Readiness check sampled across CFA Level 2 topic weights with vignette-style application prompts. Not a full CFA Institute mock exam. ### What score do you need on this CFA Level 2 practice test? The pass target on this practice test is 70%. Your report also breaks down performance by topic so you can see weak areas before the real exam. ### Who should take this CFA Level 2 practice test? CFA Level 2 candidates who passed Level 1 and want a baseline before item-set practice blocks. ### Where can I take a CFA Level 2 practice test online? UniPrep2Go hosts the Free CFA Level 2 Readiness Check at https://uniprep2go.study/mock-exams/cfa-level-2-readiness-check with a timed runner and full readiness report. ### Is this official exam material? No. This is an independent readiness diagnostic. It is not official FINRA, CFA Institute, or GARP exam material and does not guarantee an exam result. ### What does the report show after the mock? Your report shows a pass/no-pass verdict with explanation, topic diagnosis, pacing notes, full question review with explanations, and a repair plan that links to the paid Anki deck on Gumroad for weak-topic drilling. ### Where do the questions come from? Questions are original UniPrep2Go practice items aligned to published topic outlines — not leaked official exam questions. ## Disclaimer This is an independent readiness diagnostic. It is not official FINRA, CFA Institute, or GARP exam material and does not guarantee an exam result.