This is one of the most frequent questions for CFA candidates and I think it’s a good one to look into today. First just to be clear, I personally am talking about a 3 hour, 120 question exam. You might be able and want to take the 6 hour complete one to get the feeling and all but it’s never something I felt was useful. I personally prefer doing a 3hour one and then correct it carefully while questions are still in my mind.
So How Many Should Be Done?
Valid question and I guess each person would have a different answer although I would caution you. I have never heard of someone post-exam that said:
-i did too many mock exams
-i started doing mock exams too early
It simply doesn’t happen
As all candidates that bought my 12 week CFA strategy ebook will find out, I think you should do a first mock exam about 2 months before the actual date. Seems early? Maybe even too early? Great! It should add pressure and you should not feel entirely ready, especially if you are on a 12 week study plan.
That being said, the earlier you can find out your overall level, strengths and weaknesses, the earlier you can move on to the critical part of your exam.
How Many Should You Do?
I personally feel like doing one every week initially is about perfect and helps make the rest of the week more productive. Then, in the critical study week (which ideally ends one week before the exam), I try to start most of the days with a mock exam.
What are your thoughts on CFA mock exams? Do you intend to write one? Two? Several?