CFA Level II
Level II
20 MCQs · Answers & explanations · 25 pages
Your free study pack
Free CFA Level II MCQ PDF
20 multiple-choice questions with answers and explanations. Get the PDF in one email. Work through the questions at your own pace, on screen or on paper.
Inside your inbox
Questions first. Explained answers next.
Preview the actual covers. Request this file free by email.
Your PDF includes
CFA Level II
20 MCQs · 25 pages
Explained answers
- Answers explained, so you can learn from every choice
- Printable PDFs you can keep and revisit
- No account or payment required
20
Distinct MCQs
1
PDF to keep
$0
No payment
Get your free study pack.
One PDF, delivered by email. Yours to keep.
Choose your pack
Enter your email
Check your inbox
A sample from the MiloPrep question bank.
Know what you are downloading
The actual topics and question mix
This is the question distribution in this PDF, rather than the official exam topic weights. It is selected practice with explanations, not complete curriculum coverage or a full mock.
Keep the case and its exhibits beside the questions.
Case 1
4 MCQs
Case 2
4 MCQs
Case 3
4 MCQs
Case 4
4 MCQs
Case 5
4 MCQs
Turn the sample into a study loop
Attempt
Work the questions before opening the answer section.
Explain
Find the rule or case fact behind the correct answer.
Check again
Use a fresh question to test the method you repaired.
Selected practice with explanations. Finishing the sample does not establish exam readiness.
CFA Level II
5 original cases, four MCQs per case. Read the vignette and exhibits before the questions.
| Topic | MCQs | Share |
|---|---|---|
| Ethics and Professional Standards | 4 | 20% |
| Financial Statement Analysis | 4 | 20% |
| Equity Investments | 4 | 20% |
| Fixed Income | 4 | 20% |
| Portfolio Management | 4 | 20% |
Read one explained question before requesting the PDF
From CFA Level II: Ethics and Professional Standards. This question and its case, when present, are included in the downloadable PDF.
Post-Earnings Coverage of Wyndham Medical
Tamar Eriksen, CFA, is a medical-technology analyst at an independent research firm. She is attending a follow-up briefing hosted by Wyndham Medical two days after the company's quarterly earnings release.
Before the briefing, a junior colleague in the firm's overseas branch tells Eriksen that the branch e-mails rating changes to its largest institutional accounts several hours before releasing them to all clients. The branch head defends the practice: the local securities regulator expressly permits tiered distribution of research, those accounts pay a premium for priority service, and the firm's written policy manual is silent on distribution timing. Eriksen has since been asked to contribute her Wyndham Medical rating to the branch's next early e-mail.
Over the previous weekend, Eriksen was arrested with a group of demonstrators for blocking the loading entrance of a hospital supply depot during a protest over insulin pricing. She was charged with a minor trespass offense carrying a fine; no dishonesty was alleged. She reported the arrest to her supervisor the same day, and a trade newsletter subsequently named both Eriksen and her employer.
Eriksen's follow-up note on Wyndham Medical contains a table headed "Strategy Results," showing five years of returns generated by applying her current sector screen to historical data. A footnote in small type on the final page states that the figures are hypothetical. Wyndham Medical's investor relations team confirmed the operating data cited in the note, and her firm's compliance department cleared the note before distribution. In an earlier note Eriksen had transposed a margin figure and circulated a correction the following morning.
Eriksen also joined a company-organized tour of a remote Wyndham Medical plant. No commercial air service reaches the site, so she flew on the company charter. She also accepted two nights at an adjoining golf resort, a round of golf, and a departure gift of a smartwatch. She disclosed the sponsorship prominently in her note and left her rating unchanged.
Regarding the branch's early distribution of rating changes, Eriksen's most appropriate course of action is to:
- A.dissociate from the practice and notify the local securities regulator.
- B.dissociate from the practice and notify her firm's compliance department.
- C.defer to the local rule, which governs branch activity, and document the conflict.
Answer: B
Local law permits tiered distribution, but the Code and Standards are stricter, so Eriksen must follow the stricter requirement. She must not participate in the early e-mail and must raise the practice internally with compliance so it can be stopped; escalating to the regulator is not required by the Standards absent a legal duty to report.
How to use this PDF in a study session
1. Attempt with a clear purpose
Use five cases to practise connecting a question to its vignette and exhibits. The selected topics are Ethics, Financial Statement Analysis, Equity, Fixed Income and Portfolio Management; other topic areas still need separate practice.
2. Review the reasoning
Label each input with its exhibit, period and units. Separate a case-reading mistake from choosing the wrong model or making an arithmetic error. Recalculate only after you know why the input and method belong together.
3. Choose fresh follow-up work
Use fresh cases for the missed skill and broaden to the uncovered learning outcomes. This 20-question file cannot rehearse an 88-question exam or establish full curriculum readiness.
Keep a simple record: question number, the rule or case fact you missed, and the fresh exercise you will use to check the correction. Since the explained sample above is already visible, mark it as reviewed if you saw its answer before attempting the file.
Take a look inside
Your next study session, sorted.
20 questions in every PDF. Answers included.
Try the questions first
Set aside a focused block of time. Work through 20 questions before turning to the answers.
Understand your answers
Review the explanations and identify the concepts you want to revisit.
Make it your own
Print the PDF, mark it up, or save it on your device for your next review session.
Original practice material from MiloPrep. These are sample questions, not a full mock exam or official exam questions.
Good to know
What will I receive?
One PDF with 20 MCQs, including answers and explanations.
Do I need an account?
No. Enter your email to request the pack. An account is only needed if you choose to practice in the app.
What if the email has not arrived?
Allow a few minutes and check your spam or promotions folder. Repeat requests for the same pack have a 15-minute cooldown.
Will I receive other emails?
Yes, the monthly MiloPrep newsletter. Every email includes an unsubscribe link.
Keep the momentum
Ready to practice online?
Explore interactive questions, explanations, and saved progress in MiloPrep.
Create your free account