100 multiple-choice questions make up 70% of your Level II score. That is the largest single component of the exam — and the one candidates most often under-practice, because most banks are either too shallow to build real recognition speed or too disorganised to show you where your weak spots actually are.
MockSmith's Level II MCQ bank is built to fix both problems: full curriculum coverage, and structure that mirrors how the real exam groups questions. For context on how MCQs fit within the full exam format, see CAIA Level II Exam Format: What to Expect on Exam Day.
Full curriculum coverage
Every Level II topic area is represented in proportion to how it is actually tested — not just the sections that are easiest to write questions for. Asset allocation, risk management, due diligence, methods and models, accessing alternatives, and all remaining topic areas are covered at depth.
Real multi-part question sets
A meaningful share of Level II MCQs on the real exam come in linked sets built around a shared scenario — read a stem, then answer several questions off it. Most third-party banks flatten these into standalone questions and strip away the skill of tracking a scenario across multiple items. MockSmith's bank preserves that structure.
Rigorously QA'd
Every question has been checked for structural accuracy, answer-key integrity, and consistent phrasing. No duplicate IDs, no ambiguous stems, no leftover placeholder language from the drafting process.
Section-level performance tracking
Questions are tagged by topic area, so after a practice session you can see exactly where your accuracy is lowest and direct your remaining study time accordingly.
First-time Level II candidates building recognition speed and breadth across the full curriculum before the exam window.
Retakers targeting specific weak sections identified from a previous sitting — the topic tagging makes it straightforward to isolate those areas and drill them specifically.
Candidates also using the constructed response side of MockSmith who want the MCQ half covered with the same standard of rigor. For more on constructed response preparation, see the CAIA Level II Constructed Response Guide.
MockSmith CAIA Level II
The full platform includes the complete MCQ bank plus AI-graded constructed response — both sections covered, one price.
Get Full Access — $249 →How many questions are in the bank?
Just over 2,000, spanning the full Level II curriculum.
Are the multi-part sets treated as sets, or split into individual questions?
They are preserved as sets with a shared stem, the way they appear on the actual exam, so you practise tracking a scenario across multiple linked questions rather than answering each in isolation.
Is the bank aligned with the current curriculum?
Yes — it is built against the current CAIA Level II curriculum, which CAIA updates annually and applies to both the March and September exam cycles.
Can I track which topic areas I am weakest in?
Questions are tagged by section, so after any practice session you can see where your accuracy is lowest and target those areas specifically.
Does this replace reading the curriculum?
No. This is practice and recognition-building, built to run alongside content review, not instead of it.
Back to the CAIA Level II prep hub. Comparing your study material options? See Best CAIA Level II Study Materials: What to Actually Look For.