CFA Cheat Sheet 2026

The 30 highest-yield CFA facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. Why is timestamping observations important? → To document the sequence and duration of events
2. What is the purpose of setting SMART goals in strategic planning? → To create goals that are Specific, Measurable, Achievable, Relevant, and Time-bound
3. In Certified Field Associates practice, which documentation practice is considered a BEST practice? → Recording information contemporaneously with events as they occur
4. Why is providing regular feedback important for team performance? → It helps team members understand expectations and improve their performance
5. What is the appropriate response if a CFA professional witnesses a colleague violating professional standards? → Report the violation through established channels and document observations
6. What is the purpose of a risk register? → To document, track, and manage all identified risks throughout a project or operation
7. Which document outlines the mandatory compliance standards for field research? → Approved study protocol
8. Which QA technique involves re-contacting participants to verify data? → Participant validation calls
9. What is a fundamental principle of core concepts & fundamentals in Certified Field Associates practice? → Systematic application of best practices based on current standards and evidence
10. How often should compliance procedures be reviewed and updated? → Regularly, and whenever regulations change or new risks are identified
11. What should you do if a client becomes agitated during a field visit? → Pause the conversation and suggest a break
12. What distinguishes inherent risk from residual risk? → Inherent risk exists before controls; residual risk remains after controls are applied
13. In Certified Field Associates practice, what is the recommended hierarchy for controlling workplace hazards? → Elimination, substitution, engineering controls, administrative controls, PPE
14. In Certified Field Associates, what role does continuous improvement play in practical applications & techniques? → It ensures practices evolve to meet changing requirements and improve outcomes
15. What should be the first action when a new regulation is enacted that affects your practice? → Review the regulation, assess its impact, and develop an implementation plan
16. Why is stakeholder buy-in important for strategic implementation? → Because successful implementation requires support and cooperation from those affected
17. Which of the following best describes a 'stockout' in the context of field resource management? → A situation where required supplies or materials are unavailable when needed
18. What is the purpose of a Minimum Order Quantity (MOQ) requirement from a supplier? → To specify the smallest quantity the supplier will accept in a single purchase order
19. Which of the following is an example of a leading question to avoid? → "Don't you agree that our product is the best?"
20. What is the purpose of triangulation in field research? → To confirm accuracy by using multiple data sources/methods
21. What is the MOST effective way to evaluate performance in core concepts & fundamentals for Certified Field Associates? → Using measurable criteria and key performance indicators aligned with objectives
22. What is the primary purpose of a pilot survey? → To test survey questions and procedures
23. What is the MOST effective way to evaluate performance in practical applications & techniques for Certified Field Associates? → Using measurable criteria and key performance indicators aligned with objectives
24. Which risk response strategy involves reducing the likelihood or impact of a risk? → Risk mitigation
25. What is the most effective leadership approach in professional settings? → Adapting leadership style to the situation and team needs
26. What is the purpose of informed consent in data collection? → To protect respondent rights and ensure transparency
27. How should you respond to a client who says, 'Your service failed to meet our expectations'? → Say, 'I understand your frustration. Let me address this.'
28. What should a CFA professional include in a formal report? → Clear objectives, methodology, findings, conclusions, and recommendations
29. What is the primary purpose of industry regulations in this field? → To protect the public and ensure consistent professional standards
30. Which inventory management technique categorizes items by their annual consumption value to prioritize management efforts? → ABC Analysis