PRACTICE BY UNIT
CFA Level I — Economics: 85 practice questions
85 original CFA Level I questions on Economics, each with an explanation and its source. Topics: Firm and Market Structures, Understanding Business Cycles, Fiscal Policy, Monetary Policy, Introduction to Geopolitics and International Trade, Capital Flows and the FX Market, Exchange Rate Calculations. One free sample is below; the rest of the questions are available with a paid plan.
Free — no sign-up, no card.
FREE SAMPLE
One Economics question with explanations
Open a question, choose an answer in your head, then open the explanation.
Q1 Firm and Market Structures（企業と市場構造）Firm and Market Structures
A firm in a perfectly competitive market has the following per-unit data at its current output level: Market price | 20 Average total cost | 22 Average variable cost | 17 If these conditions persist, the firm is most likely to:
- shut down immediately because it is making an economic loss.
- continue operating indefinitely because price exceeds average variable cost.
- continue operating in the short run but exit the market in the long run.
Show the answer and explanation
Answer: C. C. Price (20) is above AVC (17), so operating covers variable costs and part of fixed costs in the short run; but price is below ATC (22), so the firm cannot survive in the long run.
Sources: CFA Institute, 2026 Level I Topic Outlines (Economics)
That's the free sample. The rest of the questions are available with a paid plan.
That's the free sample. The rest is available with a plan.
See plansTopics in Economics
- Firm and Market Structures（企業と市場構造）Firm and Market Structures 18
- Understanding Business Cycles（景気循環）Understanding Business Cycles 11
- Fiscal Policy（財政政策）Fiscal Policy 11
- Monetary Policy（金融政策）Monetary Policy 12
- Introduction to Geopolitics and International Trade（地政学と国際貿易）Introduction to Geopolitics and International Trade 10
- Capital Flows and the FX Market（資本移動と為替市場）Capital Flows and the FX Market 10
- Exchange Rate Calculations（為替レートの計算）Exchange Rate Calculations 13
FAQ
Are these CFA Level 1 Economics questions free?
The sample question on this page is free to read, with the answer and sources. The full set of 85 Economics questions is in the paid plans.
Are these the exam body's own questions?
No. Every question is original and written by Sakakikaen Co., Ltd. examplat is not affiliated with or endorsed by the organisation that runs CFA Level I. Check its website for the current syllabus.
OTHER UNITS
CFA Level I practice questions by unit
- Ethical and Professional Standards（倫理・職業行為基準）Ethical and Professional Standards 203
- Quantitative Methods（定量分析）Quantitative Methods 85
- Financial Statement Analysis（財務諸表分析）Financial Statement Analysis 144
- Corporate Issuers（コーポレート・イシュアー）Corporate Issuers 85
- Equity Investments（株式投資）Equity Investments 144
- Fixed Income（債券）Fixed Income 144
- Derivatives（デリバティブ）Derivatives 76
- Alternative Investments（オルタナティブ投資）Alternative Investments 98
- Portfolio Management（ポートフォリオ・マネジメント）Portfolio Management 116
All about CFA Level I on examplat
examplat is an unofficial question bank. All content is written independently by Sakakikaen Co., Ltd. and is not affiliated with or endorsed by CFA Program Level I's awarding body. It does not guarantee a pass.