CFA 2026 Level II Vignettes Economic Analysis Market Economics Free Quiz 2

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CFA 2026 Level II Vignettes Economic Analysis Market Economics Free Quiz 2

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CFA 2026 Level II Vignettes Economic Analysis Market Economics Free Quiz 2

Practice CFA 2026 Level II Vignettes Economic Analysis MCQs from Market Economics. Get instant results with Explanation.

General10 MCQs

1. Vignette 3: Market Structure and Competition - What are the characteristics of perfect competition?

A. Many firms, differentiated products, easy entryB. Many firms, identical products, free entry, price takersC. A few large firms, barriers to entry, price makersD. One firm, high barriers, price maker

2. What is monopolistic competition?

A. Many firms, identical productsB. One firm, unique productC. Many firms, differentiated products, easy entryD. Few firms, interdependent decisions

3. What is an oligopoly?

A. A few firms, strategic interaction, high barriersB. Many firms, easy entryC. One firm, no competitionD. Perfect competition

4. What is a monopoly?

A. Many firms, price takersB. Few firms, price makersC. One firm, but faces competition from substitutesD. One firm, price maker, high barriers to entry

5. What is market power?

A. The ability to set prices equal to marginal costB. The ability to set prices above marginal costC. The ability to earn zero profitsD. The ability to produce infinite output

General10 MCQs

6. Vignette 4: Market Failure and Regulation - What is market failure?

A. When markets are perfectly competitiveB. When markets allocate resources efficientlyC. When markets fail to allocate resources efficientlyD. When markets are free

7. What is an externality?

A. A cost or benefit that affects a third partyB. A cost or benefit that affects the buyer onlyC. A cost or benefit that affects the seller onlyD. A cost or benefit that affects no one

8. What are the characteristics of a public good?

A. A good that is rivalrous and excludableB. A good that is rivalrous but non-excludableC. A good that is non-rivalrous but excludableD. A good that is non-rivalrous and non-excludable

9. What is asymmetric information?

A. When information is perfectly symmetricB. When one party has more information than the otherC. When information is completely absentD. When information is public

10. What is the role of government regulation in addressing market failures?

A. Regulation is always unnecessaryB. Regulation always improves efficiencyC. Regulation can address market failures but has costsD. Regulation should be avoided

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Conducting Body: CFA Institute

Frequency: 4 times a year (February, May, August, November) | Time: 135 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 90 MCQs):

Alternative Investments: 8 MCQs
Corporate Issuers: 7 MCQs
Derivatives: 5 MCQs
Economics: 7 MCQs
Equity Investments: 12 MCQs
Ethics: 16 MCQs
Financial Statement Analysis: 11 MCQs
Fixed Income: 11 MCQs
Portfolio Management: 9 MCQs
Quant Methods: 6 MCQs

Merit Formula: -

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