🌍 Why This Guide?
Financial Reporting & Analysis (FRA) is one of the most important sections of the CFA Level I exam. With a weightage of 13–17%, mastering FRA can be the difference between passing and failing.
Here, you’ll find 200+ handpicked practice questions with detailed answers and explanations, divided into 4 parts. These MCQs are designed to mimic exam style questions, ensuring that you’re well-prepared.
📑 CFA Level I FRA MCQs
- https://tayarimcqs.com/cfa-level-1-fra-part-1/✅ Part 1 (Q1–50): FRA Basics & Financial Statements
- ✅ Part 2 (Q51–100): Advanced FRA Applications
- ✅ Part 3 (Q101–150): Ratios, Taxes & Accounting Adjustments
- ✅ Part 4 (Q151–200): Complex FRA Scenarios & Red Flags
👉 Click on each part to access the full set of solved MCQs.
🎯 How This Helps You
- Covers exam-focused questions that replicate the CFA Institute style.
- Detailed explanations for every answer, making concepts crystal clear.
- Easy-to-navigate structure – you can practice part by part.
- Optimized for self-study – no coaching required.
📝 Sample Questions
Q45. Under IFRS, investment property can be measured using:
- A) Cost model only
- B) Fair value model only
- C) Either cost or fair value model
- D) GAAP method only
✅ Answer: C) Either cost or fair value model
📖 Explanation: IFRS allows companies to use either cost or fair value models for investment property, but consistency is required.
Q122. Which ratio is most relevant for credit analysis?
- A) Gross margin
- B) Current ratio
- C) P/E ratio
- D) ROE
✅ Answer: B) Current ratio
📖 Explanation: Creditors assess a company’s short-term liquidity through the current ratio to check repayment ability.
Mastering FRA builds a strong foundation for Level II and Level III of CFA. These 200+ MCQs with detailed explanations will sharpen your exam technique and boost confidence.
📖 Keep practicing, and don’t forget to explore our other CFA sections like Ethics, Quantitative Methods, and Economics for a complete study experience.