Common questions about the MockSmith CAIA Level I question bank, answered directly.
Early access pricing through 31 July 2026.
How many questions are in the bank?
The bank includes the equivalent of 12+ complete 200-question mock exams, plus separate 100-question half mocks and 25-question drill sets. That's enough volume to sit multiple full mock exams across your preparation without repeating questions.
Does this cover the 2026 CAIA curriculum, including the new ethics framework?
Yes. The bank covers all eight current CAIA Level I topic areas, including the CAIA Ethical Principles framework introduced in 2025 and used from the 2026 curriculum onward. This is a completely different framework from the CFA Institute standards used in earlier years, and the bank is built against the current version, not an older one. For more on what changed, see the CAIA Level I ethics section guide.
The bank also covers the expanded private debt content and the newer digital assets reading on institutional cryptocurrency allocation — two areas that have grown significantly in recent curriculum updates and that older or generic practice material sometimes hasn't caught up with.
What's the difference between a full mock, a half mock, and a drill?
A full mock is 200 questions across two timed sections, structured exactly like the real exam, including the break between sections. This is the format that trains pacing and stamina for exam day specifically.
A half mock is 100 questions, timed, for when a full four-hour sitting doesn't fit your schedule but you still want exam-condition time pressure.
A drill is 25 questions, untimed, intended for topic-by-topic review — typically used earlier in your preparation, right after you've studied a specific section of the curriculum, when you want to test fresh understanding without the added pressure of a clock.
Most candidates use drills early in their preparation, half mocks through the middle stretch, and full mocks in the final weeks before their sitting. For a full breakdown of how to sequence this, see how to use mock exams to pass CAIA Level I.
Are the questions original, or based on existing sample questions?
Every question in the bank is built from original scenarios and original numbers. Calculation questions in particular are constructed with fresh variables rather than reused textbook examples with the labels changed, so that solving a question demonstrates genuine understanding of the underlying concept rather than recognition of a specific worked example.
What do the explanations actually include?
Every question includes an explanation for each of the four answer options — not just confirmation of the correct one. For wrong answers, the explanation addresses what misconception or error that option represents, not just that it's incorrect. This is the detail that turns a wrong answer into something you can actually learn from, rather than just a score.
Is this enough on its own, or do I still need a full course?
For most candidates who are comfortable working through the official CAIA curriculum independently, a rigorous question bank used alongside that curriculum is sufficient preparation. The curriculum itself, included with your exam registration, provides the conceptual teaching; the question bank provides the testing layer that the curriculum alone can't.
If you've already worked through a full prep course and exhausted its question bank, fresh material is exactly what closes the gap between feeling confident and being genuinely tested — repeated exposure to the same fixed question set tends to produce memorisation rather than reasoning. For the fuller version of this answer, see are CAIA Level I practice questions enough to pass.
How is this different from a full prep course bundle?
A full prep course bundle typically combines three things: condensed notes, instructional video content, and a question bank, usually priced at $800 or more. MockSmith's bank is the third component on its own — built to a rigorous standard, at a meaningfully lower price — for candidates who don't need the first two, either because they're comfortable with the curriculum independently or because they've already used a course previously. See CAIA Level I prep course cost: what you're paying for for the full comparison.
Can I try it before buying?
Yes. Ten free sample questions with full explanations are available directly on the main CAIA Level I page — no signup or purchase required.
What does early access pricing actually mean?
Early access gives you the complete bank — every full mock, half mock, and drill currently available — at $149, through 31 July 2026. This is a discount against the standard ongoing price, available to candidates who join now ahead of upcoming exam sittings. See the full pricing breakdown for more detail.
How long do I have access after purchasing?
Full access details, including how long the bank remains available to you after purchase, are listed on the main CAIA Level I page.
See the CAIA Level I mock exam page and question bank page for more detail on what's included, or visit the main CAIA Level I page for full plan and access details.