CFA Level II Practice Updates and Feedback

Current practice

Finance Prep provides 100 original Level II cases with 400 attached questions for the 2027 curriculum. Every case has four three-choice questions, with teaching explanations and reasons for selecting or rejecting each answer.

Release history

Case practice first released: October 16, 2026.

Dated improvements

October 17, 2026 — Financial-institution comparison case

• Added one case and four attached questions comparing a bank, an insurer and a manufacturer.
• Practise customer funding, net interest margin, insurer underwriting performance and the interpretation of liabilities across sectors. Written and earned premiums and loss-adjustment expenses are explicit in the insurer calculation.
• Reviewed the full case, each calculation, every answer choice and all explanations. The bank now contains 100 cases and 400 attached questions; the public set remains 22 cases and 88 questions.

October 17, 2026 — Three more cases for applied practice

• Added three cases and 12 attached questions on property valuation and refinancing, active portfolio risk and capacity, and professional conduct.
• Reviewed every new case, calculation, answer choice and explanation before publication.
• The bank now contains 99 cases and 396 attached questions. The free practice exam continues to contain 22 cases and 88 questions.

October 16, 2026 — Original 2027 Level II case practice

• Added 96 cases and 384 attached questions across all ten Level II topics.
• Reviewed each complete case, its questions, calculations, answer choices and explanations before publication. The cases make assumptions, units and professional duties explicit where they affect a decision.
• Added a 22-case public practice exam containing 88 questions, with explanations for every answer choice.

The available bank contains 96 cases and 384 attached questions. Editorial review supports clearer practice and defensible reasoning; it does not establish equivalence to official difficulty or a validated prediction of passing.

Share Level II feedback

Include the public case and question number, or the in-app reference. Describe the case fact, calculation, answer or explanation that needs attention. For sign-in, access or billing help, use support .

Feedback about CFA Program Level II 2027 in Finance Prep goes privately to our team. Tell us about a question, a coverage gap, or an app improvement. Email is optional. For account or billing help, contact support.