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CFA Level I — Financial Statement Analysis: 144 practice questions
144 original CFA Level I questions on Financial Statement Analysis, each with an explanation and its source. Topics: Introduction to Financial Statement Analysis, Analyzing Income Statements, Balance Sheets and Cash Flows, Inventories and Long-Term Assets, Income Taxes and Non-current Liabilities, Financial Analysis Techniques, Financial Reporting Quality, Introduction to Financial Statement Modeling. One free sample is below; the rest of the questions are available with a paid plan.
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FREE SAMPLE
One Financial Statement Analysis question with explanations
Open a question, choose an answer in your head, then open the explanation.
Q1 Introduction to Financial Statement Analysis（財務諸表分析の導入）Introduction to Financial Statement Analysis
During an audit, the auditor cannot verify the existence of inventory held at one small foreign warehouse because access was denied. The amount is material to inventory but does not affect most other items in the financial statements. The auditor's opinion is most likely:
- unmodified, with the issue described in the notes.
- adverse.
- qualified.
Show the answer and explanation
Answer: C. Qualified. The auditor lacks evidence for a material item, but the possible effect is confined to a limited area and is therefore not pervasive.
Sources: IAASB: ISA 705 (Revised) Modifications to the Opinion in the Independent Auditor's Report · CFA Institute, 2026 Level I Topic Outlines (Financial Statement Analysis)
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 Financial Statement Analysis
- Introduction to Financial Statement Analysis（財務諸表分析の導入）Introduction to Financial Statement Analysis 10
- Analyzing Income Statements, Balance Sheets and Cash Flows（損益計算書・貸借対照表・CF計算書の分析）Analyzing Income Statements, Balance Sheets and Cash Flows 40
- Inventories and Long-Term Assets（棚卸資産・長期資産）Inventories and Long-Term Assets 26
- Income Taxes and Non-current Liabilities（法人税・非流動負債・報酬）Income Taxes and Non-current Liabilities 25
- Financial Analysis Techniques（財務分析の手法）Financial Analysis Techniques 23
- Financial Reporting Quality（財務報告の品質）Financial Reporting Quality 10
- Introduction to Financial Statement Modeling（財務諸表モデリング入門）Introduction to Financial Statement Modeling 10
FAQ
Are these CFA Level 1 Financial Statement Analysis questions free?
The sample question on this page is free to read, with the answer and sources. The full set of 144 Financial Statement Analysis questions is in the paid plans.
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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
- Economics（経済学）Economics 85
- 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
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