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CFA Level II Vignettes Quantitative Finance Regression Models MCQs Test 3
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CFA Level II Vignettes Quantitative Finance Regression Models MCQs Test 3

Practice CFA 2026 Level II Vignettes Quantitative Finance MCQs from Regression Models. Get instant results with Explanation.
Practice Quiz 3 for "Regression Models" (Quantitative Finance). Total 30 MCQs available, split into 3 quizzes. Challenge yourself with advanced application-based questions. Mastering these concepts is essential for securing a high percentile in CFA.
General10 MCQs
1. Vignette 5: Model Selection & Specification - An analyst wants to compare two non‑nested regression models. Which criterion is most appropriate for selecting between them?
2. If a relevant variable is omitted from a regression, what is the likely consequence for the coefficient estimates?
3. To test whether a linear regression is correctly specified versus an alternative with nonlinear terms, which test is commonly used?
4. Which of the following is a limitation of stepwise regression?
5. When adding a new independent variable to a regression, what is true about R² and adjusted R²?
General10 MCQs
6. Vignette 6: Qualitative Variables & Interactions - An analyst wants to include a categorical variable with two categories (e.g., sector: Technology vs. Non‑Technology) in a regression. How many dummy variables should be created?
7. What is the purpose of including an interaction term in a regression?
8. How would you test whether the difference between Technology and Non‑Technology sectors is significant in a regression?
9. In a regression with a dummy variable (Tech=1, Non‑Tech=0) and a continuous variable X, what does the intercept represent?
10. What issue arises if an analyst includes dummy variables for both categories and an intercept term?

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