A complete CAIA Level I question bank built for candidates who want depth, variety, and genuine explanations — not a thin set of questions you'll exhaust in a week.
Early access pricing through 31 July 2026.
The MockSmith CAIA Level I question bank gives you the equivalent of 12+ full 200-question mock exams, plus shorter formats for different stages of your preparation:
Full mock exams. 200 questions, two timed sections, structured exactly like the real exam — including the section break.
Half mocks. 100-question timed sessions, for when a full four-hour sitting doesn't fit your schedule but you still want exam-condition pressure.
Untimed drills. 25-question sets for targeted topic review, ideal earlier in your preparation when you're testing fresh understanding rather than pacing.
Every question, in every format, comes with a complete explanation — not just the correct answer, but the reasoning behind why each wrong option is wrong.
A small question bank runs out fast. Once you've seen every question once, repeating the same set teaches you to recognise specific questions rather than reason through the underlying concepts — which defeats the purpose of practice testing in the first place.
Format variety matters just as much as volume. Untimed drills suit the early stages of your preparation, when you're checking fresh understanding without the added pressure of a clock. Full timed mocks belong in the final stretch, when pacing and stamina across a genuine four-hour sitting are exactly what you need to train.
A bank that only offers one format, or too little material to avoid repetition, leaves a real gap in your preparation. For a full breakdown of what to look for in any CAIA Level I question bank — including ones other than this one — see what to look for in a CAIA Level I question bank.
The bank covers all eight CAIA Level I topic areas, with particular attention to the sections most likely to be thin in older or generic practice material:
The 2026 CAIA Ethical Principles — a completely rebuilt framework, distinct from the CFA standards used in prior years. Expanded private debt content, reflecting the growth of this asset class in recent curriculum updates. The newer digital assets reading on institutional cryptocurrency allocation.
For a full topic-by-topic breakdown of what the exam actually tests, see our CAIA Level I topic guide.
Every question in the bank is built from original scenarios and original numbers — not recycled textbook examples with the labels changed. Getting a question right is meant to demonstrate genuine understanding, not memory of a specific worked example seen elsewhere.
Explanations go through every answer option, not just the correct one. That's the detail that turns a wrong answer into an actual diagnosis: not just that you got it wrong, but specifically why, and what to go back and review.
Ten free sample questions with full explanations are available directly on the main CAIA Level I page, if you want to check the explanation quality directly before committing.
Pricing
Early access to the complete bank — every full mock, half mock, and drill — is $149 through 31 July 2026. Full pricing breakdown on the CAIA Level I pricing page. Common questions answered on the CAIA Level I FAQ page.
Get the Full Question Bank — $149 Early Access