CFA® Level I · 2027 curriculum
Practice for CFA® Level I.
Know what to work on next.
Get 2,500+ practice questions, three full mocks and Formula Gym. Cliro uses your results to keep your next study priority clear.
Free diagnostic • 20 questions • No payment details required
- 2,500+
- Practice questions
- 3
- Full mock exams
- 540
- Mock questions
- 10
- CFA® Level I topics
Exam Pass and Monthly both include the three full mocks.
Why this topic, right now
Your accuracy in Fixed Income
58%
71% your average
Concepts you've actually answered
6 of 23
Thin evidence · 17 untested
- Weight on the paper
- 11–14%
- Time left
- 137 days
One of the heaviest topics
Room to fix it
Cliro's decision
Duration & convexity
10 questions • About 16 minutes
Your recent accuracy here is below your average, it sits within one of the exam's heaviest topics, and there's still time to improve it.
Cliro / Learner workspace
Practice session
Question 4 of 10
Fixed Income
Duration & convexity
A bond has a modified duration of 7.2 and an annual convexity of 65. If yields rise by 50 basis points, the estimated change in the bond's price is closest to:
- Fall by approximately 3.6%
- Fall by approximately 4.2%
- Rise by approximately 4.2%
Study plan
Feb 2027 window
- Your availability
- 8 hrs / week
- Today
- About 45 minutes planned
- This week
- 180 / 480 minutes
- Exam
- 137 days
Current phase
Build
Broadening coverage while reinforcing the topics carrying the most exam weight.
Curriculum map
67 / 128 concepts · 52% coverage
- Ethical & Professional Standards15–20%21 / 28 assessedStrong
- Quantitative Methods6–9%12 / 24 assessedDeveloping
- Economics6–9%9 / 22 assessedDeveloping
- Financial Statement Analysis11–14%18 / 34 assessedNeeds work
- Corporate Finance6–9%7 / 20 assessedDeveloping
- Strong
- Developing
- Needs work
- Not assessed
An illustrative view of the Cliro study interface using demo data: a Fixed Income practice question, a weekly study plan of eight hours, and a curriculum map showing concept coverage by topic.
See your practice, progress and next priority in one place.
Answer questions, see which topic and concept each result affects, and use Cliro’s recommendation when you want direction.
- Practice by topic or mixed session
- Progress by topic and concept
- Recommendations based on your results
Question Bank
2,500+ questions across all ten Level I topics.
Choose a topic, build a mixed session or follow Cliro’s recommendation. Every question has a detailed explanation and updates your progress.
Practice session
Question 4 of 10
Fixed Income
Duration & convexity
A bond has a modified duration of 7.2 and an annual convexity of 65. If yields rise by 50 basis points, the estimated change in the bond's price is closest to:
- Fall by approximately 3.6%
- Fall by approximately 4.2%
- Rise by approximately 4.2%
- 2027 Level I practice questions
- 2,500+
- Level I topic areas
- 10
- question includes a detailed explanation
- Every
- practice priorities based on your results
- Ranked
2027 Level I practice questions
Level I topic areas
question includes a detailed explanation
practice priorities based on your results
Choose your practice, or let Cliro narrow it down.
Your recent answers, coverage, exam weights and reviews due help Cliro recommend a focused next session.
Mock exams
Three full mock exams, each built as two timed sessions.
Each mock contains 180 reserved questions and includes topic and answer review after completion. Both Exam Pass and Monthly include the three mocks.
Mock exam 1 · Session 1
1:52:14 remaining
Question 71 of 90
FlaggedAn analyst observes a 3-year annual-pay bond priced at 98.42 with a 4% coupon. The bond's yield to maturity is closest to:
- 4.24%
- 4.58%
- 4.91%
No feedback during the mock: answers stay hidden until both sessions are complete.
Navigator
- Answered
- 63
- Flagged
- 7
- Unseen
- 20
Mock exam 1 · Results
180 questions
68%
Overall score
- 122
- Correct
- 51
- Incorrect
- 7
- Unanswered
Ethics
72%23 of 32
Quantitative Methods
64%9 of 14
Economics
78%11 of 14
Financial Statement Analysis
52%13 of 25
Fixed Income
58%14 of 24
Focus areas are built only from questions you actually answered. Unanswered questions never count as evidence of weakness.
- full mock exams included
- 2
- questions per mock
- 180
- mock questions in total
- 540
- timed sessions per mock
- 2
- questions per session
- 90
- minutes per session
- 135
full mock exams included
questions per mock
mock questions in total
timed sessions per mock
questions per session
minutes per session
Mock questions are kept separate from practice and review, so you will not see them before the mock.
Already have study materials? Use Cliro to practice what you have learned.
Cliro works alongside the curriculum, your notes or another study provider. It focuses on practice, mock exams and helping you decide where to spend your next study session.
Choose any topic yourself, or use your results, coverage, exam weights and review timing to narrow the next step.
How Cliro chooses your next session
Your results shape what happens next.
You can always choose your own topic. When you want direction, Cliro uses your recent work to recommend a next step.
- 01
Practice
Choose a topic, build a mixed session or follow a recommendation.
- 02
Check
See the explanation and what the answer changed.
- 03
Track
Build your progress by topic and concept.
- 04
Review
Bring back concepts that are due another check.
- 05
Continue
Use the updated recommendation for your next session.
Every answer updates your progress and the next recommendation.
Study planning
Plan around your exam date and the time you actually have.
Set your exam window and weekly availability when you are ready. Cliro uses that context to suggest manageable sessions.
Study plan
Feb 2027 window
- Your availability
- 8 hrs / week
- Today
- About 45 minutes planned
- This week
- 180 / 480 minutes
- Exam
- 137 days
Current phase
Build
Broadening coverage while reinforcing the topics carrying the most exam weight.
Focus areas
- 01Fixed Income5 concepts need work · 11–14% of exam
- 02Financial Statement AnalysisAccuracy slipping · 11–14% of exam
- 03DerivativesNo evidence yet · 5–8% of exam
Upcoming
Scheduled review
Due today
6 concepts to review • About 9 minutes
- Effective duration
- Money-weighted return
+4 more
Tomorrow
3 concepts to review
- Inventory cost flow methods
- Forward rate agreements
+1 more
Later this week
8 concepts to review
- Standard III(B) Fair Dealing
- Operating leverage
+6 more
Mistakes
Answered incorrectly
Fixed Income · Interest Rate Risk · Effective duration
Which measure is most appropriate for a bond with an embedded call option?
Practice · View question and explanation
Financial Statement Analysis · Inventories · Cost flow methods
Under rising prices, which method reports the lowest ending inventory?
Review · View question and explanation
Review and mistakes
Recheck what you learned before it fades.
Cliro brings previously studied concepts back after time has passed, so one correct answer is not treated as permanent mastery. The mistake log keeps incorrectly answered questions easy to revisit.
Where Cliro fits
Use Cliro at any stage of your Level I preparation.
Starting Level I
Take the free diagnostic, then practice by topic. Your results build a picture of where you stand across all ten topics.
Retaking Level I
Your diagnostic and practice results show which concepts are still weak. The mistake log keeps incorrectly answered questions easy to revisit, and Review brings due concepts back after time has passed.
Alongside your existing materials
Cliro is designed to work alongside your core reading materials, adding question practice, mock exams, Formula Gym, review and progress tracking.
- 2027 Level I curriculum
- 2,500+ practice questions
- 3 full mock exams included
- Detailed answer explanations
Content quality
Every practice question includes an explanation.
Cliro’s questions and formula cards are written independently by Cliro and organised around the 2027 CFA® Level I curriculum.
Current curriculum
Content is organised around the 2027 Level I topic structure.
Detailed explanations
See why the correct answer works after every practice question.
Report an issue
Use the report control on a question or contact support. We aim to reply within two working days.
Cliro is built by Cliro Group LTD, registered in England and Wales.
Support and content reportsFree diagnostic
Get a quick starting profile.
- questions
- 20
- Level I topics
- 10
- minutes
- 15
questions
Level I topics
minutes
Your diagnostic gives you:
- An initial view across all ten topics
- Areas where evidence is still limited
- A suggested place to begin
No payment details required.
Pricing
Choose one payment or pay monthly.
Exam Pass gives you full access through 14 days after your selected exam window. Monthly gives you the same full product and can be cancelled at any time. Both include the three current mocks.
14-day money-back guarantee on your initial paid purchaseSecure checkout via Stripe
Free diagnostic
£0
A short, optional starting check across all ten topics.
- 20-question optional diagnostic across all 10 topics
- Initial syllabus profile
- First personalised study focus
- No payment details required
Cliro Exam Pass
£149one-off
Full access through 14 days after your selected exam window. No automatic renewal.
- 2,500+ 2027 Level I practice questions
- 3 full 180-question mock exams included
- 540 mock questions in total
- Personalised study priorities
- Study plan built around your exam date
- Detailed mock performance and answer review
- Full progress and knowledge tracking
- Detailed answer explanations
- Concept-level Curriculum Map
- Formula Gym
- Review scheduling based on your recall evidence
Monthly
£39/month
Flexible
Everything in Exam Pass, including all three mocks. Billed monthly and cancellable at any time.
Choose MonthlyExam Pass is a single payment with no automatic renewal. Monthly can be cancelled at any time. Everything you need to prepare is included. Prices include any applicable tax. See the refund and cancellation policy.
Your learning budget
Your employer may cover Cliro.
If you work in finance, your organisation may offer a learning, professional-development or qualification budget that can be used towards job-related study.
Check your company policy or ask your manager or HR team.
Eligibility depends on your employer's policy.
Questions
Before you start
What can I use for free?
The optional diagnostic includes 20 questions across all ten Level I topics and does not require payment details. The full Question Bank, mock exams, Formula Gym, progress and review require Exam Pass or Monthly.
Can I use Cliro alongside other study materials?
Yes. Cliro focuses on practice, mock exams and helping you choose what to work on next. It is designed to work alongside the curriculum, your notes or another study provider.
What is included with Exam Pass and Monthly?
Both plans unlock the same full product: the 2,500+ question bank, three full 180-question mock exams, Formula Gym, progress and review. Exam Pass is a one-off purchase tied to your selected exam window; Monthly renews until cancelled.
Will I see the mock questions before I sit a mock?
No. Mock questions are kept separate from practice and review, so you will not see them beforehand.
How does the 14-day guarantee work?
Your initial Exam Pass purchase or first Monthly payment is covered. Contact support within 14 days of the initial purchase to request a refund. Read the full policy
Can my employer cover Cliro?
You can generate a ready-to-send request for your manager or HR team. For invoice or billing questions, contact support. About study funding
Start with a clear picture of where you stand.
The free diagnostic gives you an initial topic profile. Upgrade when you want the full Question Bank, mock exams and Formula Gym.
Free diagnostic • 20 questions • No payment details required