Cfa Level 2 Mock Questions Online

Don’t chase 80% on mocks. That’s unrealistic for Level 2.

Vignette
A company enters into a 1-year plain vanilla interest rate swap with quarterly payments, notional principal $10 million. The floating rate is 3-month LIBOR, set in arrears. The fixed rate is 3.2% annualized (quarterly compounding).
Current LIBOR spot rates (continuous compounding):

Question 1
The discount factor for the 9-month payment is closest to:
A) 0.9747
B) 0.9759
C) 0.9768 cfa level 2 mock questions

Question 2
The fixed rate (annualized, quarterly compounding) that would make the swap value zero at initiation is closest to:
A) 3.27%
B) 3.32%
C) 3.48%

Question 3
If immediately after the first floating payment, 3-month LIBOR drops to 2.8%, the value of the swap to the fixed-rate payer (in $) is closest to:
A) −12,500
B) 0
C) +12,500 Don’t chase 80% on mocks

Not all mock questions are created equal. Candidates should approach their resources with a critical eye:

Avoid these self-sabotaging behaviors:

Week 1: Topic reviews + 2 topic-focused item sets/day (accounting, equity).
Week 2: Mixed item sets + 1 full mock at end of week; review errors deeply.
Week 3: Two full mocks mid-week and end; target weaker topics with focused practice.
Week 4: 2–3 full mocks under strict timing, final quick-topic refresh, sleep and logistics check.