To provide effective research methods for the seismic performance study of fully cast-in-place concrete exterior walls, a refined finite element modeling approach was studied based on previous seismic performance tests. Established a simplified equivalent bracing model for concrete infilled walls suitable for overall structural analysis, proposed methods for determining the location and configuration of diagonal bracing in infilled walls with openings, as well as for calculating the width and thickness of the equivalent diagonal bracing. The research results show that the damage pattern of the fully cast-in-place concrete exterior wall, as well as the hysteresis curve, stiffness, and bearing capacity characteristics derived from the refined finite element analysis, are in good agreement with the experimental results. Therefore, this model effectively reflects the mechanical performance of the test specimens. The results obtained from the simplified analysis model are also in close agreement with the experimental data. While it significantly enhances computational efficiency, the model still maintains high accuracy. The refined and simplified finite element models proposed in this study can serve as references for the finite element analysis of the fully cast-in-place concrete exterior walls at both the component level and the overall structure level.