The two papers: content and access

2026 Round 1 paper

2026 · PDF · 10 pages. 25 multiple-choice questions for concept, calculation and graph practice.

Request additional resources from an adviser through the Study resources topic at the end of this article.

2026 Round 2 paper

2026 · PDF · 10 pages. 7 open-response problems, 20 points each and 140 points in total; reasoning is required.

Request additional resources from an adviser through the Study resources topic at the end of this article.

The paper headers show exam dates of May 16 and May 30. The website announcements released the papers on May 21 and May 31 respectively. Exam dates and release dates are different.

When to use samples or full papers

  1. New to USAEBO: start with samples

    The official samples contain four Round 1 multiple-choice questions and two Round 2 open-response problems. Use them to learn the wording and response formats before focusing on speed.

  2. Know the format: choose questions by topic

    Use the syllabus and topic index to choose questions in both familiar and weaker areas. Attempt them independently and identify difficulties in concepts, graphs, calculations or explanations in English.

  3. After review: attempt the question again

    Keep the first draft and attempt the question again without notes after reviewing. Check the completeness of the reasoning; for Round 2, write the model, calculations and conclusion in sequence.

Official samples: Round 1 PDF · Round 2 PDF

Using the papers for 2027 preparation

2026 · ROUND 125 questions
2027 · ROUND 140 questions / 60 min

The historical Round 1 paper is not a complete mock exam for the 2027 format. Round 2 in 2027 allows 120 minutes for open responses; its question count and allocation of points have not been announced and must not be assumed to match 2026. Historical handbooks offer context, but equipment, recording and submission arrangements must be checked against current-season notices. IEO answer documents apply only to their corresponding IEO papers.

If you are still deciding whether to enter the 2027 season, read the 2027 registration and exam guide first. Check eligibility, registration confirmation and the study time you have available before using the practice sequence here. Completing a historical paper does not replace checking current-season entry requirements.

Original practice: compound interest in two steps

Editorial example · not an official problem or answer

Assume an initial balance of 1,000, an annual interest rate of 5%, annual compounding and no deposits or withdrawals over two years. Calculate the first year-end balance, then use it as the base for the second year.

  1. Initial balance1,000
  2. End of year 1 · ×1.051,050
  3. End of year 2 · ×1.051,102.50

Total interest is 102.50, compared with 100 under simple interest. The additional 2.50 comes from interest earned in year 1 itself earning interest in year 2. State the interest period, compounding method and cash-flow assumptions rather than giving only the final number.

Keep a short review record

Four items to record after practice

  • Reference: What to record: File, round, question number and topic.
  • Where you stopped: What to record: Concepts, graphs, calculation, reading or explanation in English.
  • Basis for correction: What to record: The definition, model or calculation step you reviewed.
  • Second attempt: What to record: Whether you can reproduce the reasoning without notes.

Sources: USAEBO 2026 public papers, official samples and season updates. The official samples are available to download; request additional resources from an adviser. The study sequence, review record and compound-interest example are editorial material. Original official sources: USAEBO official past papers · 2027 season information