CESGA-ESG-2026 – CERTIFIED ESG ANALYST
EXAMINATION (MOCK / PRACTICE PAPER)
EUROPEAN FEDERATION OF FINANCIAL ANALYST SOCIETIES
(EFFAS) – STYLE SIMULATION
COMPREHENSIVE FINAL SPRING EXAMINATION – APRIL 2026
PROFESSIONAL CERTIFICATION ASSESSMENT
Which statement is correct? Globally, the relative Google search volume of "ESG" in the finance
context experienced a:
1.- sharp decline.
2.- steady decline.
3.- fivefold increase in the last 10 years.
4.- tenfold increase in the last 5 years.
4.- tenfold increase in the last 5 years.
Considering the period between 2013 and 2017, which of the following ESG strategies was the
leading one in Europe?
1.- Exclusions
2.- Impact Investing
3.- Best-in-Class
4.- ESG Integration
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,1.- Exclusions
According to the World Economic Forum (2011), long term investing refers to:
1.- investing with the expectation of holding an asset for 5 years.
2.- investing with the expectation of holding an asset for 10 years.
3.- investing with the expectation of holding an asset for more than 10 years.
4.- investing with the expectation of holding an asset for an indefinite period of time by an
investor with the capability to do so.
4.- investing with the expectation of holding an asset for an indefinite period of time by an
investor with the capability to do so.
The term "engagement(s)" refers to:
1.- all interactions between an investor and investees or policy makers to address ESG issues or
business strategy.
2.- the investor's practice to actively exert the voting rights at the annual general meetings
(AGM) of the companies
.3.- the practice of taking environmental, social and corporate governance aspects into account
throughout the investment decision-making process.
4.- the selection of companies with the best environmental, social and governance practices.
*1.- all interactions between an investor and investees or policy makers to address ESG issues or
business strategy.
Which answer is MORE correct..: Mainstreaming does define the trend toward ...
1.- Integration of environmental aspects in traditional investment process.
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, 2.- Integration of environmental and company profitability aspects in traditional investment
process.
3.- Integration of social and environmental aspects in traditional investment process.
4.- Integration of all sustainability aspects in traditional investment process.
* 4.- Integration of all sustainability aspects in traditional investment process.
There are several main motives for investors joining initiatives in the sustainability area. Which
of the following is NOT one of them?
1.- Complying with the Integrated Reporting initiative
2.- Active commitment
3.- Public awareness raising
4.- Competitive advantage
1.- Complying with the Integrated Reporting initiative
Which statement is NOT correct? Corporate disclosure guidelines:
1.- help investors access data on ESG risk and opportunities.
2.- are always purely voluntary in nature.
3.- can be issued by governments or non-governmental authorities.
4.- can build on general principles or specific indicators.
2.- are always purely voluntary in nature.
Which statement is correct?
1.- The speed of ESG integration is low, as comprehensive commitment of investors is lacking.
2.- The speed of ESG integration is low, as high-level commitment of policy makers is lacking.
3|Page
EXAMINATION (MOCK / PRACTICE PAPER)
EUROPEAN FEDERATION OF FINANCIAL ANALYST SOCIETIES
(EFFAS) – STYLE SIMULATION
COMPREHENSIVE FINAL SPRING EXAMINATION – APRIL 2026
PROFESSIONAL CERTIFICATION ASSESSMENT
Which statement is correct? Globally, the relative Google search volume of "ESG" in the finance
context experienced a:
1.- sharp decline.
2.- steady decline.
3.- fivefold increase in the last 10 years.
4.- tenfold increase in the last 5 years.
4.- tenfold increase in the last 5 years.
Considering the period between 2013 and 2017, which of the following ESG strategies was the
leading one in Europe?
1.- Exclusions
2.- Impact Investing
3.- Best-in-Class
4.- ESG Integration
1|Page
,1.- Exclusions
According to the World Economic Forum (2011), long term investing refers to:
1.- investing with the expectation of holding an asset for 5 years.
2.- investing with the expectation of holding an asset for 10 years.
3.- investing with the expectation of holding an asset for more than 10 years.
4.- investing with the expectation of holding an asset for an indefinite period of time by an
investor with the capability to do so.
4.- investing with the expectation of holding an asset for an indefinite period of time by an
investor with the capability to do so.
The term "engagement(s)" refers to:
1.- all interactions between an investor and investees or policy makers to address ESG issues or
business strategy.
2.- the investor's practice to actively exert the voting rights at the annual general meetings
(AGM) of the companies
.3.- the practice of taking environmental, social and corporate governance aspects into account
throughout the investment decision-making process.
4.- the selection of companies with the best environmental, social and governance practices.
*1.- all interactions between an investor and investees or policy makers to address ESG issues or
business strategy.
Which answer is MORE correct..: Mainstreaming does define the trend toward ...
1.- Integration of environmental aspects in traditional investment process.
2|Page
, 2.- Integration of environmental and company profitability aspects in traditional investment
process.
3.- Integration of social and environmental aspects in traditional investment process.
4.- Integration of all sustainability aspects in traditional investment process.
* 4.- Integration of all sustainability aspects in traditional investment process.
There are several main motives for investors joining initiatives in the sustainability area. Which
of the following is NOT one of them?
1.- Complying with the Integrated Reporting initiative
2.- Active commitment
3.- Public awareness raising
4.- Competitive advantage
1.- Complying with the Integrated Reporting initiative
Which statement is NOT correct? Corporate disclosure guidelines:
1.- help investors access data on ESG risk and opportunities.
2.- are always purely voluntary in nature.
3.- can be issued by governments or non-governmental authorities.
4.- can build on general principles or specific indicators.
2.- are always purely voluntary in nature.
Which statement is correct?
1.- The speed of ESG integration is low, as comprehensive commitment of investors is lacking.
2.- The speed of ESG integration is low, as high-level commitment of policy makers is lacking.
3|Page
