CFA Level 1 QUESTIONS — Understanding Business Cycles (2026) Economics

CFA Level 1 | Economics | Understanding Business Cycles
Practice questions for Business Cycle Phases, Economic Indicators, Leading vs Lagging Indicators, Credit Cycles, Peak vs Expansion Phase, Nowcasting.
How to solve Problems. Exercise for Exam. Questions and answers.

CONTENTS
0:00 Topic 2: OVERVIEW OF THE BUSINESS CYCLE
0:11 T2 Question 1
0:21 T2 Question 2
0:31 T2 Question 3
0:41 T2 Question 4

0:51 CORRECT ANSWERS
1:01 T2 Answer 1 — Business cycle phases. Peak phase identification. Early expansion vs. trough characteristics.
1:58 T2 Answer 2 — Early expansion phase. Business cycle phases. Employment trends.
2:59 T2 Answer 3 — Expansion phase. Business cycle phases. Retail sales. New business start-ups.
3:55 T2 Answer 4 — Labor market dynamics in late expansion. Shortage of qualified workers.


4:44 More practice = Higher chance to pass
4:54 Topic 3: CREDIT CYCLES
5:04 T3 Question 1

5:14 CORRECT ANSWERS
5:24 T3 Answer 1 — Credit cycles. Business cycles. Relationship between credit and business cycles.


6:13 Topic 4: ECONOMIC INDICATORS OVER THE BUSINESS CYCLE
6:23 T4 Question 1
6:33 T4 Question 2
6:43 T4 Question 3
6:53 T4 Question 4
7:03 T4 Question 5
7:13 T4 Question 6
7:23 T4 Question 7
7:33 T4 Question 8
7:43 T4 Question 9
7:53 T4 Question 10
8:03 T4 Question 11
8:13 T4 Question 12
8:23 T4 Question 13
8:33 T4 Question 14

8:43 CORRECT ANSWERS
8:53 T4 Answer 1 — Labor productivity. Output per hour. Economic recovery.
9:44 T4 Answer 2 — Unemployment rate. Average duration of unemployment. Lagging indicators.
10:36 T4 Answer 3 — Mature expansion phase. Business cycle peak. Corporate profit margins.
11:36 T4 Answer 4 — Composite indexes. Economic indicators. Leading indicators.
12:32 T4 Answer 5 — Nowcasting. Real-time data. GDP estimation. Current-quarter estimates
13:14 T4 Answer 6 — Economic indicators. Leading indicators. Coincident indicators. Lagging indicators.
14:04 T4 Answer 7 — Economic indicators. Leading indicators. Coincident indicators. Lagging indicators. Yield curve.
15:02 T4 Answer 8 — Conflicting economic indicators. Consumer expectations. Industrial production.
16:08 T4 Answer 9 — Business cycle peak. Slowdown phase. Real personal income. Inventory-sales ratio.
17:15 T4 Answer 10 — Predicting turning points. Leading economic indicators. Average weekly hours manufacturing.
18:03 T4 Answer 11 — Leading economic indicators. Turning points. Peak. Trough. Business cycle timing.
19:00 T4 Answer 12 — Lagging average duration of unemployment. Economic expansion. Labor force re-entry.
19:47 T4 Answer 13 — Aggregate real personal income. Coincident indicators. Lagging indicators.
20:38 T4 Answer 14 — Average bank prime lending rate. Lagging economic indicators. Industrial production.
Other Practice Questions for LEARNING MODULE 1:
Quantitative Methods — https://youtu.be/UmYwTI7S_lg
Quantitative Methods — https://youtu.be/BwyVunBcF4o
Economics — https://youtu.be/9Dp3WOCrk8M
Economics — https://youtu.be/xJ61eiM1AxA
Corporate Issuers — https://youtu.be/hCQAH30cWR0
Financial Statement Analysis — https://youtu.be/r-4iUNDsrwQ
Financial Statement Analysis — https://youtu.be/nU67Hxfyf7E
Fixed Income — https://youtu.be/BuRHehXnXRY
Derivatives — https://youtu.be/pJs1l6KP79g
Equity Investments — https://youtu.be/2oqEqaVahuc
Equity Investments — https://youtu.be/_5sPvt4U1PA
Alternative Investments — https://youtu.be/DXDVLQbyIA0
Portfolio Management — https://youtu.be/WGVsmFL5mQ0
Ethical and Professional Standards — https://youtu.be/DXUGvV-k_us
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