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CFA Level I Averages & Statistics Questions
Practise averages & statistics (quantitative aptitude) for the CFA Program Level I: 10 multiple-choice questions, each with the correct answer and a worked explanation. Click an option to check it, or “New questions” for another set.
Averages & Statistics practice
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Q1.The average of 7 numbers is 44. If 52 is added, what is the new average?
Show answer & explanation
Answer: B — 45
Old total = 7 × 44 = 308. New total = 308 + 52 = 360; new average = 360/8 = 45.
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Q2.Find the range of: 16, 12, 25, 16, 18, 37, 34
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Answer: B — 25
Range = max − min = 37 − 12 = 25.
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Q3.Find the median of: 26, 36, 8, 20, 33, 30, 27
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Answer: D — 27
Sorted: 8, 20, 26, 27, 30, 33, 36. The middle (4th) value is 27.
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Q4.Find the range of: 23, 24, 35, 9, 26, 34, 34
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Answer: A — 26
Range = max − min = 35 − 9 = 26.
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Q5.The average of 5 numbers is 38. If 49 is added, what is the new average?
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Answer: C — 39.83
Old total = 5 × 38 = 190. New total = 190 + 49 = 239; new average = 239/6 = 39.83.
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Q6.Find the median of: 6, 16, 13, 25, 15, 33, 38
Show answer & explanation
Answer: C — 16
Sorted: 6, 13, 15, 16, 25, 33, 38. The middle (4th) value is 16.
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Q7.Find the median of: 2, 22, 25, 32, 22, 17, 12
Show answer & explanation
Answer: B — 22
Sorted: 2, 12, 17, 22, 22, 25, 32. The middle (4th) value is 22.
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Q8.Find the median of: 9, 37, 19, 29, 39, 34, 25
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Answer: D — 29
Sorted: 9, 19, 25, 29, 34, 37, 39. The middle (4th) value is 29.
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Q9.The average of 9 numbers is 37. If 46 is added, what is the new average?
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Answer: C — 37.9
Old total = 9 × 37 = 333. New total = 333 + 46 = 379; new average = 379/10 = 37.9.
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Q10.Find the range of: 34, 5, 8, 18, 40, 34, 29
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Answer: D — 35
Range = max − min = 40 − 5 = 35.
How to approach averages & statistics questions
Average × count = total: most average questions are really about totals. For a set of data, sort it before finding the median and look for the most frequent value for the mode.
About CFA Level I
CFA Program Level I — conducted by CFA Institute. Investment tools, quantitative methods, economics, ethics and financial reporting fundamentals.
Original practice questions written for this site in the style and difficulty of each exam’s syllabus. They are not past papers and the site is not affiliated with any exam body. Exam patterns, marking schemes and syllabi change — always check the latest official notification.
CFA Level I practice topics
| Topic | Section | Question source |
|---|---|---|
| Accounting & Finance | Finance | Calculated + question bank |
| Simple & Compound Interest | Quantitative aptitude | Calculated (new numbers every set) |
| Probability & Combinatorics | Mathematics | Calculated (new numbers every set) |
| Averages & Statistics | Quantitative aptitude | Calculated (new numbers every set) |
| Economy & Banking Awareness | General awareness | Question bank |