CFA Level 1 TestTerms & Conditions
Last updated: August 3, 2026 · Effective date: August 3, 2026
These Terms & Conditions (the "Terms") are a legal agreement between you ("you", "user") and Testium Labs ("we", "us", "our", or the "Provider") governing your access to and use of the CFA Level 1 Test mobile application, our website and related services (together, the "Service"). By downloading, accessing or using the Service, you agree to these Terms and to our Privacy Policy. If you do not agree, do not use the Service.
1. Eligibility and acceptance
You must be at least 18 years old (or the age of majority in your jurisdiction) and able to form a binding contract to use the Service. If you use the Service on behalf of an organisation, you represent that you are authorised to bind it. If you do not meet these requirements, you may not use the Service.
2. What the Service is (and is not)
CFA Level 1 Test is an independent, third-party study aid for candidates preparing for the CFA® Program Level I exam. It provides practice questions, timed mock exams, progress analytics and explanations generated with artificial intelligence. The Service is a supplementary practice tool only. It is not the official CFA Program curriculum, is not a substitute for the official learning materials published by CFA Institute, and is not a registration, enrolment or exam-scheduling service.
3. No affiliation with CFA Institute; trademarks
CFA Institute does not endorse, promote, or warrant the accuracy or quality of the products or services offered by CFA Level 1 Test. CFA®, Chartered Financial Analyst®, CFA Institute Investment Foundations® and the CFA Institute logo and marks are trademarks owned by CFA Institute. CFA Level 1 Test is not affiliated with, associated with, sponsored by, authorised by, or endorsed by CFA Institute in any way. All references to CFA Institute, the CFA Program and the exam are for identification and descriptive purposes only (nominative fair use). All other trademarks are the property of their respective owners.
4. No guarantee of results — educational purposes only
The Service is provided for general educational and exam-preparation purposes only. We make no representation, warranty or guarantee that using the Service will result in a passing score, a particular grade, admission to or completion of the CFA Program, or any specific outcome. Exam success depends on many factors outside our control, including your own study, the official curriculum and CFA Institute's scoring, which may change at any time. Any statistics, weightings, formats or pass-mark references reflect our understanding at the time of writing and may not match the current official exam. Always rely on the official CFA Institute curriculum, policies and announcements as the authoritative source.
5. Not professional advice
Content in the Service — including questions, answer explanations and AI-generated text — is for study purposes only and does not constitute investment, financial, legal, accounting, tax or other professional advice, and must not be relied upon for any real-world financial or investment decision. You should consult a qualified professional before acting on any information. Nothing in the Service creates an adviser-client or fiduciary relationship.
6. AI-generated content
Explanations and certain content are produced by automated artificial-intelligence systems. Such content may be inaccurate, incomplete, outdated, or misleading, may reflect the limitations or biases of the underlying models, and may not correspond to the official curriculum. You are responsible for independently verifying any information before relying on it. We do not warrant the accuracy, completeness or fitness of AI-generated content and disclaim liability for it to the maximum extent permitted by law.
7. Content accuracy
We work to keep our question bank and explanations accurate and at exam level, but we do not warrant that the content is error-free, complete, current or aligned with the latest official curriculum. Content may be simplified for teaching. If you spot an error, please tell us at support@testiumlabs.com.
8. Accounts
You are responsible for the activity under your account and for keeping your credentials confidential. You may use certain features as a guest with reduced functionality. Notify us promptly of any unauthorised use. We may suspend or terminate accounts that violate these Terms.
9. Subscriptions, billing and cancellation
- The Full Plan is offered as an auto-renewing subscription — monthly or 3-month — at the prices displayed in the app at purchase. Prices are shown by Apple in your local currency and may vary by region and over time.
- Billing is handled by Apple through your Apple Account. Subscriptions renew automatically for the same period and price unless you cancel at least 24 hours before the end of the current period. Your account is charged for renewal within 24 hours before the period ends.
- Manage or cancel your subscription in Settings → Apple ID → Subscriptions. Cancelling stops future renewals; you keep access until the end of the paid period.
- Any free trial or introductory offer converts to a paid subscription unless cancelled before it ends. Unused portions of a free trial (if any) are forfeited when you purchase a subscription.
- Refunds are handled by Apple under the App Store terms; we generally cannot issue refunds directly. Statutory withdrawal/cancellation rights that apply to you (e.g., EU consumer rights) are not affected.
- Your use of auto-renewing subscriptions is also governed by Apple's standard End User License Agreement (EULA): apple.com/legal/internet-services/itunes/dev/stdeula.
10. Licence and restrictions
Subject to these Terms, we grant you a limited, personal, non-exclusive, non-transferable, non-sublicensable and revocable licence to use the Service for your own, non-commercial exam preparation. You must not, and must not permit others to: copy, reproduce, distribute, publicly display, resell, rent, sublicense or create derivative works from the Service or its content; scrape, harvest, bulk-download or systematically extract questions, explanations or data; reverse engineer, decompile or attempt to derive source code, keys or credentials; circumvent security, rate-limits or device attestation; use bots or automated means; or use the Service to build a competing product or to train machine-learning models. All rights not expressly granted are reserved.
11. Intellectual property
The Service, including its software, design, text, our own question bank, explanations and branding, is owned by the Provider or its licensors and is protected by intellectual-property laws. Feedback you send us may be used without restriction or compensation. The trademark notice in Section 3 applies.
12. Acceptable use
You agree not to use the Service unlawfully; to infringe others' rights; to upload malicious code; to interfere with or overload the Service or its infrastructure; to abuse the AI feature; or to attempt unauthorised access. We may investigate and take action, including suspension or termination and cooperation with authorities.
13. Third-party services
The Service relies on third parties (e.g., Apple, Google, Supabase, OpenAI). Your use of those services is subject to their terms and privacy policies. We are not responsible for third-party services, and their availability may affect the Service.
14. Disclaimer of warranties
THE SERVICE AND ALL CONTENT ARE PROVIDED "AS IS" AND "AS AVAILABLE", WITH ALL FAULTS AND WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED OR STATUTORY. TO THE MAXIMUM EXTENT PERMITTED BY LAW, WE DISCLAIM ALL WARRANTIES, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, QUIET ENJOYMENT, ACCURACY AND NON-INFRINGEMENT. WE DO NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED, SECURE, ERROR-FREE, OR THAT CONTENT (INCLUDING AI-GENERATED CONTENT) IS ACCURATE, COMPLETE OR CURRENT, OR THAT USING THE SERVICE WILL LEAD TO EXAM SUCCESS.
Some jurisdictions do not allow the exclusion of certain warranties, so some of the above may not apply to you. Nothing in these Terms excludes or limits your mandatory statutory consumer rights.
15. Limitation of liability
TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE PROVIDER AND ITS OFFICERS, EMPLOYEES, LICENSORS AND SUPPLIERS WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES, OR FOR ANY LOSS OF PROFITS, REVENUE, DATA, GOODWILL, OR EXAM FEES OR OTHER COSTS, ARISING OUT OF OR RELATED TO THE SERVICE OR THESE TERMS, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHERWISE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. OUR TOTAL AGGREGATE LIABILITY FOR ALL CLAIMS ARISING OUT OF OR RELATED TO THE SERVICE WILL NOT EXCEED THE GREATER OF (A) THE AMOUNTS YOU PAID US FOR THE SERVICE IN THE 12 MONTHS BEFORE THE EVENT GIVING RISE TO THE CLAIM, OR (B) USD 50.
Nothing in these Terms limits or excludes liability that cannot be limited or excluded under applicable law, including liability for death or personal injury caused by negligence, for fraud or fraudulent misrepresentation, or for any mandatory statutory consumer rights. If you are a consumer, these limitations apply only to the extent permitted by the mandatory law of your country of residence.
16. Indemnification
To the extent permitted by law, you agree to indemnify and hold harmless the Provider and its affiliates, officers, employees and agents from and against any claims, liabilities, damages, losses and expenses (including reasonable legal fees) arising out of or related to your misuse of the Service, your violation of these Terms, or your infringement of any third-party right. This does not apply to the extent a claim results from our own breach or unlawful conduct, or where prohibited by the mandatory law applicable to consumers.
17. Governing law and dispute resolution
These Terms are governed by the laws of the country in which the Provider is established, without regard to conflict-of-laws rules, and excluding the UN Convention on Contracts for the International Sale of Goods. If you are a consumer, this choice of law does not deprive you of the protection of mandatory provisions of the law of your country of habitual residence, and you may bring proceedings in your local courts.
Informal resolution. Before starting any formal proceeding, please contact us at legal@testiumlabs.com so we can try to resolve the matter; most concerns can be settled quickly.
Arbitration and class-action waiver (United States users only). If you are a resident of the United States, you and the Provider agree that any dispute will be resolved by binding individual arbitration administered under the rules of a recognised arbitration body, rather than in court, except that either party may bring an individual claim in small-claims court. You and the Provider waive the right to a jury trial and to participate in a class, collective or representative action. You may opt out of this arbitration agreement by emailing legal@testiumlabs.com within 30 days of first accepting these Terms; opting out does not affect the other provisions. This clause does not apply where prohibited by law.
Users outside the United States may bring disputes before the competent courts of their place of residence or of the Provider's establishment, as permitted by applicable law.
18. Suspension and termination
You may stop using the Service and delete your account at any time. We may suspend or terminate your access, with or without notice, if you breach these Terms, if required by law, or to protect the Service or other users. Sections that by their nature should survive termination (including Sections 3–7 and 10–17) will survive.
19. Export controls and sanctions
You represent that you are not located in, and will not use the Service from, a country or region subject to comprehensive sanctions, and that you are not on any restricted-party list. You agree to comply with all applicable export-control and sanctions laws.
20. Changes to the Service and to these Terms
We may modify, suspend or discontinue any part of the Service at any time. We may also update these Terms; the current version will be posted here with a new "Last updated" date and, where required, we will notify you. Changes are effective when posted (or on the stated effective date). Your continued use after changes take effect constitutes acceptance; if you do not agree, stop using the Service.
21. Miscellaneous
These Terms, together with the Privacy Policy and any purchase terms, are the entire agreement between you and us regarding the Service. If any provision is held unenforceable, the remaining provisions stay in effect. Our failure to enforce a provision is not a waiver. You may not assign these Terms without our consent; we may assign them to an affiliate or successor. We are not liable for delays or failures caused by events beyond our reasonable control (force majeure). These Terms do not create any third-party beneficiary rights, except that Apple is a third-party beneficiary of the Apple-related terms and may enforce them.
22. Apple App Store terms
These Terms are between you and the Provider, not Apple. Apple is not responsible for the Service or its content, and has no obligation to provide maintenance or support. To the maximum extent permitted by law, Apple has no warranty obligation with respect to the Service, and any claims, losses, liabilities, damages, costs or expenses attributable to any failure to conform to any warranty are the Provider's responsibility. Apple is not responsible for addressing any claims relating to the Service or your use of it (including product-liability, legal/regulatory compliance, and consumer-protection claims). In the event of any third-party claim that the Service or your use of it infringes intellectual-property rights, the Provider, not Apple, is responsible for the investigation, defence, settlement and discharge of such claim.
23. Contact
Questions about these Terms: legal@testiumlabs.com. Support: support@testiumlabs.com.