CAIA Level I — Free Online Mock Test
200 MCQ / two 2-hour sessions. · Official language: English.
Advanced
Finance & Professional
200 questions
240 min
50 distinct variants
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CAIA Level I exam at a glance
CAIA Level I section breakdown
The CAIA Level I mock test on Wrexa Edge replicates the real exam's section structure — same names, same question count per section, same time limits. No inter-section breaks — the timer runs continuously.
CAIA Level I scoring & marking scheme
Strategy: CAIA Level I has no negative marking. Attempt every question — blank answers cost you potential marks but cannot pull your score down.
Scale: CAIA Level I (pass/fail).
How CAIA Level I is conducted
Mode
Standard — practice without proctoring on Wrexa Edge, or enable optional webcam proctoring to simulate test-day conditions.
Test format
Linear / fixed-form — every candidate sees the same number of questions per section.
Backtracking
Allowed — you can revisit and change answers within a section.
Mark for review
Available — flag tough questions and return to them before submitting the section.
Tools available during the CAIA Level I exam
Wrexa Edge renders these tools inside the mock test exactly as they appear on the real CAIA Level I exam — same shortcuts, same behaviour.
CAIA Level I time strategy
With 200 questions in 240 minutes, you have about 72 seconds per question on average. Successful candidates aim for the following pacing on each section:
Session 1 (100 Q)
Target ~72 sec/question. If a question takes more than 108 seconds, mark for review and move on.
Session 2 (100 Q)
Target ~72 sec/question. If a question takes more than 108 seconds, mark for review and move on.
Wrexa Edge's analytics show your actual time-per-question after every mock so you can spot which sections you're losing time on.
CAIA Level I topics covered
Across the 50 Wrexa Edge variants of CAIA Level I, the following topics appear most often (sample distribution from one variant):
Session 1 (100 Q)
- Ethics — Standards · 17
- Quant — Statistics · 5
- Econ — Microeconomics · 4
- Quant — TVM · 3
- Econ — Macro · 3
- Econ — International · 3
- FSA — Inventory · 3
- Quant — Returns · 2
Session 2 (100 Q)
- FAR — Investments · 5
- ISC — Cybersecurity · 4
- ISC — IT General Controls · 4
- EA Ind — Income · 4
- EA Ind — Deductions · 4
- EA Biz — Payroll Tax · 4
- AUD — Risk · 4
- AUD — Reporting · 4
Sample CAIA Level I questions
A preview of real practice questions from the Wrexa Edge CAIA Level I bank — the same style, phrasing and difficulty you'll face on test day. Full solutions unlock free inside the mock.
Session 1 (100 Q) · CFA II — OAS
Q1. Option-Adjusted Spread (OAS) is:
Why: Correct answer: D — The spread over Treasury after removing the value of embedded options — comparable across callable/putable bonds. Topic: CFA II — OAS.
Session 2 (100 Q) · ISC — SOC Reports
Q2. The difference between a SOC 2 Type 1 and Type 2 report is that Type 2:
Why: Correct answer: D — Tests operating effectiveness of controls over a period of time. Topic: ISC — SOC Reports.
Session 1 (100 Q) · CFA II — Swaps
Q3. In an interest rate swap, the fixed-rate payer:
Why: Correct answer: A — Receives floating (e.g., SOFR) and pays a fixed rate set at inception. Topic: CFA II — Swaps.
Session 2 (100 Q) · ISC — Cybersecurity
Q4. The CIA triad in information security stands for:
Why: Correct answer: A — Confidentiality, Integrity, and Availability. Topic: ISC — Cybersecurity.
Session 1 (100 Q) · CFA II — MBS Prepayment
Q5. Prepayment risk in MBS arises because:
Why: Correct answer: B — Mortgagors can prepay (e.g., refinance) when rates fall — shortening duration when investors least want it. Topic: CFA II — MBS Prepayment.
Session 2 (100 Q) · ISC — IT General Controls
Q6. Logical access controls include:
Why: Correct answer: B — User authentication, role-based permissions, and passwords. Topic: ISC — IT General Controls.
These are a handful of the 10000 unique CAIA Level I questions across all 50 Wrexa Edge variants — start a free mock to attempt the full set with instant scoring.
CAIA Level I difficulty calibration
Advanced tier. Advanced-level: high-stakes exam with rigorous content depth. Expect 4-8 months of structured prep.
200 MCQ / two 2-hour sessions. · Official language: English.
Verified content — Wrexa Edge's CAIA Level I bank has been deeply curated with real exam-aligned content (estimated 100% syllabus coverage).
How Wrexa Edge prepares you for CAIA Level I
Real test-day interface
Our sat skin mirrors the actual CAIA Level I testing software — same timer, palette, tools, and navigation.
50 distinct variants
10000 unique practice questions, each variant a fresh test — not just shuffled options.
Detailed analytics
Scaled score, section accuracy, topic-wise heatmap, time-per-question — see where to focus after every attempt.
Spaced repetition (Notebook)
Wrong answers and flagged questions flow into an SM-2 spaced-repetition deck so you actually retain what you learn.
Optional proctoring
Browser-based face-api detection (no install) — turn it on to simulate a high-stakes environment.
Free to start
No credit card. Sign up, pick a variant, and your first CAIA Level I mock starts in under a minute.
CAIA Level I study plan
A phase-by-phase roadmap from your first concept to test-ready. Stretch or compress each phase to fit the time you have before your attempt.
1
Phase 1 — Learn the syllabus
Weeks 1–4
- Work through every section — Session 1 (100 Q), Session 2 (100 Q) — from your core study material
- Make short notes and a formula/fact sheet you can revise quickly
- Attempt topic questions right after finishing each area
2
Phase 2 — Practice & sectionals
Weeks 5–8
- Solve previous-year and practice questions section by section
- Time yourself on Session 1 (100 Q) and your weakest areas
- Keep an error log and revisit every mistake weekly
3
Phase 3 — Full-length mocks
Weeks 9–12
- Take full-length CAIA Level I mocks in the real test interface
- Analyse accuracy, time per question and silly mistakes after each mock
- Revise from notes and re-attempt only weak-topic questions
Where CAIA Level I can take you
A strong CAIA Level I result opens up these careers and higher-study paths:
Banking & financial services
Roles across retail and corporate banking, insurance and non-banking financial companies.
Accounting, audit & analysis
Positions in audit, taxation, financial analysis and advisory at firms and corporates.
Professional designation path
A stepping stone toward advanced qualifications and senior finance and consulting roles.
Frequently asked questions
- What is the CAIA Level I exam pattern?
- CAIA Level I contains 200 questions across 2 sections: Session 1 (100 Q), Session 2 (100 Q). Total duration is 240 minutes (about 72 seconds per question).
- Does CAIA Level I have negative marking?
- No — CAIA Level I has no negative marking. Each correct answer is worth 1 mark, so attempt every question.
- How is CAIA Level I scored?
- Scaled score range: 0 to 100. CAIA Level I (pass/fail).
- How can I practise CAIA Level I online for free?
- Wrexa Edge gives you 10 free full-length CAIA Level I mock tests — with instant scoring, detailed explanations and analytics — plus 40 more with Pro. Start practising in under a minute, no card required.
- What is the difficulty level of CAIA Level I?
- CAIA Level I is rated Advanced difficulty on Wrexa Edge. Advanced-level: high-stakes exam with rigorous content depth. Expect 4-8 months of structured prep. 200 MCQ / two 2-hour sessions. · Official language: English.
- How long is the CAIA Level I exam?
- CAIA Level I runs for 240 minutes total across 2 sections. On Wrexa Edge the timer is enforced exactly as on the real exam — including no inter-section breaks.
- What topics are covered in CAIA Level I?
- CAIA Level I is split into: Session 1 (100 Q), Session 2 (100 Q). Each section is timed and weighted separately. 200 MCQ / two 2-hour sessions. · Official language: English.
- What tools or aids are allowed during CAIA Level I?
- On-screen scientific calculator (matches the real exam interface).
- Is the CAIA Level I test adaptive?
- No — CAIA Level I is a fixed-form (linear) test. Every candidate sees the same number of questions per section.
- How many CAIA Level I mock tests does Wrexa Edge offer?
- Wrexa Edge generates 50 distinct CAIA Level I variants — each with different question content, not just shuffled options — the first 10 free for everyone and 40 more with Pro. That's 10000 unique practice questions in the real test-day interface.
- Is there a free CAIA Level I test series 2026?
- Yes. The Wrexa Edge CAIA Level I test series for 2026 gives you 10 free full-length mock tests (50 in total) plus subject-wise and topic-wise tests — instant scoring and detailed analysis, no card required.
- Are CAIA Level I previous year question–style papers included?
- Every CAIA Level I mock is modelled on the official exam pattern and the style of previous years' papers — the same 200-question structure, sections and marking — so your practice mirrors the real paper you'll sit.
- Which is the best free CAIA Level I mock test online?
- Wrexa Edge's CAIA Level I mock test replicates the real exam interface, timing and marking scheme, with instant score, section-wise analysis and 50 fresh variants — a strong free choice for 2026 preparation.
- Can I take the CAIA Level I mock test on mobile?
- Yes. CAIA Level I mock tests run in any browser on mobile, tablet or desktop — no app or download needed. Start on your phone and your progress and analytics sync when you sign in.
- What is the CAIA Level I syllabus?
- The CAIA Level I syllabus maps to its 2 sections: Session 1 (100 Q), Session 2 (100 Q). Wrexa Edge's mock tests cover the complete syllabus topic by topic — see the topics-covered breakdown above — so you practise every area at real exam difficulty.
- What is the eligibility for CAIA Level I?
- Eligibility for CAIA Level I — age, qualification and number of attempts — is set by the official conducting body and can change each cycle, so always confirm the current official notification before applying. Wrexa Edge focuses on realistic CAIA Level I practice: 10 free full-length mocks in the exact exam pattern, ready whenever you are.
- When is the CAIA Level I exam and how should I prepare?
- Official CAIA Level I exam dates are announced by the conducting body for each cycle — check the latest notification for the current schedule. To be ready, follow a phased study plan and take full-length timed mocks; Wrexa Edge gives you 10 free CAIA Level I mocks with instant scoring so you can track your readiness week by week.
Ready to ace CAIA Level I?
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