CFA Level 2 Economics Mock Test 2026

Economics carries 5 to 10 percent of the CFA Level 2 examination. Level 2 is delivered entirely as item sets, so this area reaches you as vignettes with four questions each rather than as standalone problems, and the vignette will usually contain more information than any single question needs.

Level 2 economics narrows sharply to currency exchange rates and economic growth. The parity conditions, covered and uncovered interest rate parity, purchasing power parity and the international Fisher effect, plus carry trade mechanics and central bank intervention, carry most of the weight. Growth theory and the regulation reading make up the remainder.

This free Set 1 paper is built as vignettes on the real Level 2 format, timed to the pace of the actual exam, with a full explanation on every answer and a report card showing which parts of the area are costing you marks.