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Kaplan vs UWorld CFA
Determine which CFA prep course is best for you between Kaplan Schweser and UWorld
Kaplan Schweser and UWorld are the two most popular options on the market for CFA prep. After acquiring Wiley CFA in 2023, test prep giant UWorld expanded their CFA program, and Kaplan also revamped their course. In terms of the best CFA prep courses, Kaplan vs UWorld is a common decision for candidates, especially at Level 1. In this article, we compare and contrast each company’s updated CFA study materials so that you can figure out which course best fits your budget and learning preferences.
Choose Kaplan if you want a structured study plan, comprehensive notes, and more full-length mock exams built into your package.
Choose UWorld if you prefer adaptive software, detailed answer explanations, and a slightly lower upfront price.
Kaplan includes 6 full-length mock exams and 2,600+ practice questions, compared to UWorld’s 5 mock exams and 2,800+ questions. In simple terms, Kaplan offers more built-in structure and exam simulation, while UWorld focuses more on adaptive practice and detailed answer explanations.
Given that this is a lengthy, detailed comparison, we’ve included jump-to links above for your convenience.
Video Review: Which CFA Course Is Better?
In the above video, team member Lara breaks down how the review courses from Kaplan Schweser and UWorld stack up. Please keep reading for more information.
In order to keep this article narrowly focused on directly comparing these CFA prep programs, rather than providing a more general overview of each course and how they work, I am instead going to cover the strengths of each program and the categories where they beat the other (i.e., the wins for each course).
Also, to be clear, this post covers the Level I course for each company (not Levels II or III). However, most everything we’ll discuss also applies to Levels II and III as each company’s teaching methodology, types of study materials, and learning platforms do not change between levels. Anyway, let’s get to it.
SchweserNotes
The core instructional component of the Kaplan CFA course is their SchweserNotes. By now, almost everyone has heard of SchweserNotes, and they’re probably a big reason why you’re even considering going with Kaplan for your CFA prep.
These notes are the gold standard of written study materials in the CFA world and they’re definitely the highlight of the Kaplan Schweser package. These books are detailed and full of examples, yet they’re extremely easy to read and follow.
SchweserNotes are awesome
They cover every learning outcome statement (LOS) in a very organized, sequenced manner, and they are just hands down the best in the industry. The Kaplan “study” modules, which are the backbone of the Kaplan Schweser curriculum, are based on the SchweserNotes, and they even give you a video lesson summarizing every chapter.
The SchweserNotes come in three different formats. You can choose between eBooks, hard-copy books, and audio books, which makes them a good fit for all kinds of learning styles.
Bottom line, these CFA books are good, and they’re better than UWorld’s written materials in our opinion.
Learning Framework
Our team loved the structure and organization of the Kaplan CFA prep program. Kaplan uses a traditional but effective overarching framework of learn ➡️ practice ➡️ assess.
In other words, you learn about a topic in a module, put what you learned to use with a few practice questions in the next module, and then periodically assess your knowledge with a Qbank assignment or exam.
You’ll find that’s kind of the flow of the Kaplan suggested study plan. The learning modules are stacked in a predictable order, with the occasional class mixed in.
Moreover, Kaplan accomplishes this through a feature called their Activity Feed, which essentially tells you exactly what to study and in what order, week-by-week. In short, Kaplan has done a great job of integrating all the different facets of the course into an intentionally sequenced and easy to follow schedule.
Mock Exams
You get 6 mock exams with Kaplan Schweser (more than what UWorld gives you). They save most of them for the back half of your prep though, and some are literally locked until you’re getting close to exam day.
All the mocks are full 180-question exams that run on the same Prometric interface you’ll see on test day, so you get that real exam feel. Kaplan pushes you to treat these seriously – take the full exam, then spend serious time going through every single answer before moving on to whatever’s next. And honestly, I think they’re right about that approach.
The quality is solid, and you learn a ton from each one. One thing that’s neat about Kaplan compared to other prep companies is they’ll actually let you take your final practice exam at an actual Prometric testing center if you want to (in their highest tier package). It’s a cool way to get a proper dress rehearsal before the real thing.
Mock exam from Kaplan
Masterclass Video Lectures
The third win is Kaplan’s Masterclass series. These are strategy-based classes periodically layered into your study schedule, and they’re intended to drive home what you learn in each unit with an application spin on your learning.
You get your direct, hard content review through the SchweserNotes, and then the Masterclasses recap the highest-yield concepts that you absolutely need to know and teach you how to apply what you learn on the exam.
We love the Kaplan Masterclass videos
The instructors spend a good chunk of time working sample problems and teaching you how to take what you’ve learned in the SchweserNotes and apply it in practice on the test.
There is about 50 hours of total Masterclass content, and each video is worth every minute of watch time in our team’s opinion. The recaps of high-yield subject matter, the focus on application, and the instructor advice is worth its weight in gold.
Now that we’ve covered the strengths of the Kaplan Schweser CFA program, let’s discuss the advantages of using UWorld to study for the CFA exam.
🚨 Reminder: It’s important to note that UWorld acquired Wiley’s CFA prep business in 2023. While the core Wiley curriculum was retained, UWorld has overhauled and modernized the platform.
Adaptive Software
One thing that stood out to me about UWorld’s CFA course is how smart their software is – it actually adjusts the difficulty of practice problems based on how you’re doing. Their question bank is honestly one of the best I’ve seen for CFA prep. Every single question comes with explanations for all the answer choices, not just the right one, and they back it up with visuals which is super helpful.
What I found useful is how the platform responds to your performance in real time. Crushing the questions? It’ll start throwing harder stuff at you. Having a rough time? It dials things back to make sure you’ve got the fundamentals down solid before moving forward. This adaptability is great for your personal progression.
Detailed answer explanation from UWorld
Structure Ideal for Busy Professionals
The structure is pretty much what you’d expect from the old Wiley days, but UWorld has improved the course with better graphics, well-organized formulas, and finance examples that actually make sense in the real world. The text lessons are straightforward and easy to follow – you can get through them quickly without missing any of the Learning Outcome Statements. If your goal is structured CFA training or flexible online classes rather than casual self-study, UWorld’s adaptive platform and detailed explanations give it an edge over Kaplan’s more traditional materials.
Most lessons took me about 45-60 minutes to get through, and that’s including time to pause, take notes, and really digest the written stuff. The bite-sized approach is perfect if you’re juggling work and studying. You can knock out a lesson during lunch or squeeze one in before dinner without feeling overwhelmed.
You don’t need to block out huge chunks of time, and you can actually feel like you’re making progress even with just an hour here and there. The structure is great when you’re trying to fit prep into a busy schedule.
Last, I liked their Accelerate Bootcamp offering. It’s an intensive two day problem solving experience that is a must do before the exam (included in their highest package).
UWorld CFA video lecture by Peter Olinto
Competitive Pricing
When you’re looking at the cost of these two prep programs, UWorld does have a slight pricing advantage, although all of the resources that Kaplan throws in at each level makes them the better overall value.
UWorld’s base package, Core Essentials, costs about $400 and just gets you the Qbank, a digital review guide, performance tracking, and access to the mobile app. If you also want video lessons, custom flashcard decks, a couple of mock exams, and their SimpleSheets reference outline, the Advanced Prep Course costs about $700.
Finally, the highest tier package with UWorld is their Elite Full Course. For just under $1,000, you also get a printed book set, a total of five mock exams, MasterClass On Demand sessions, and StudyPass access until you pass. The Elite package further lets you connect with instructors live through live Q&A sessions, plus the Accelerate BootCamp Final Review.
Now, let’s compare those prices to Kaplan Schweser. Their basic study package costs about $430 and gets you 80+ hours of On Demand Masterclasses, the Qbank, access to a private review community, performance tracking, and 2 full-length mock exams. So while you’re paying an extra $30 above UWorld’s lowest package, you’re getting more resources at this level.
Kaplan Schweser’s Essential Package costs about $800, which is $100 more than you’d spend on UWorld’s comparable package, and comes with the SchweserNotes, four mock exams, an AI tutor, and a PassProtection guarantee that lets you repeat the course if you don’t pass.
The highest tiers are also slightly costlier than UWorld. For about $1,100, the Premium Package gets you six mock exams and 55+ hours of On Demand review workshops, or you can spend about $1,500 for the Ultimate Package if you also want live online classes.
Kaplan and UWorld do offer sales and special promotions. You’ll rarely pay full price on these CFA products, so do make sure to check for discounts.
Until recently, Wiley has been one of the top names in CFA prep, with over two centuries of history as a publisher and educational company. The Wiley curriculum was known for its exceptional written explanations, which were both detailed and easy to understand.
Now, however, UWorld has acquired Wiley CFA. Here’s what that means: you can still access the same strong Wiley materials, but under UWorld’s platform. You’re getting in-depth written explanations in the UWorld study guides, plus more streamlined tech tools and better problem explanations than Wiley offered.
Verdict: Which CFA Prep Course Is Better?
After using, and reviewing both courses, we definitely prefer Kaplan Schweser, although UWorld has made strides to improve their offering.
There are some redeeming features of UWorld, such as the depth of their questions & answers and adaptive practice problems, but overall, we found the Kaplan Schweser course to be more comprehensive and engaging.
The Kaplan instructors in the Masterclasses were fantastic; their mock exams are more realistic; and you cannot beat the smart, flexible structure of this review course. So in the end, we recommend Kaplan Schweser.
How do the CFA prep courses from Kaplan and UWorld compare?
Our team believes Kaplan beats UWorld when it comes to CFA books, realism of practice tests, and quality of instructors.
Which course is better for CFA level 1, Kaplan or UWorld?
For level 1, Kaplan is usually the better fit if you want a structured study plan and more full-length mock exams. UWorld is a strong option if you prefer adaptive practice software and detailed answer explanations.
Are Kaplan's CFA prep books better than UWorld's?
Yes, after reviewing the CFA prep books from both companies, our team found the Kaplan written study materials to be more comprehensive and helpful. The SchweserNotes are simply the best in the CFA prep space.
Which CFA prep course is better - UWorld or Kaplan Schweser?
While UWorld modernized their program and improved it recently, our team found the Kaplan Schweser CFA prep course to be better than UWorld’s. We loved the structure of the Kaplan course, their instructors, and the realistic nature of their practice tests. It is a more comprehensive option.
Are UWorld questions harder than the actual CFA exam?
UWorld’s questions can feel more detailed and explanation-heavy, which some candidates interpret as harder. That depth can be useful for learning concepts, but Kaplan’s practice tests are often viewed as closer to full exam simulation.
Which course has better mock exams, Kaplan or UWorld?
Kaplan includes 6 mock exams, while UWorld includes 2. If mock exam volume and repetition matter most to you, Kaplan has the advantage.
What does the CFA Level 2 textbook cover?
The CFA Level 2 textbook covers 45 learning modules across 10 topics that all focus on financial models and investments in real-world context. The core topics are Ethics and Professional Standards, Quantitative Methods, Economics, Financial Statement Analysis, Corporate Issues, Fixed Income, Portfolio Management, Equity Valuation, Derivative Investments, and Alternative Investments.
What are the CFA exam dates?
The upcoming CFA Level 1 exam dates are Nov 11-17, Feb 22-28, May 11-17, and Aug 15-22. For Level 2, the upcoming exam dates are Nov 18-22, May 18-22, and Aug 23-27. Finally, the upcoming Level 3 exam dates are Feb 18-21 and Aug 11-14.
What study materials do you need for the CFA exam?
To prepare for the CFA exam, you need both high-quality content review materials, such as video lessons and written notes, and realistic practice questions and practice exams with problem explanations.
Can you use the CFA Level 1 formula sheet on the exam?
No, you cannot use the CFA Level 1 formula sheet while taking the exam. The formula sheet is great as a study aid, but it is ultimately up to you to both memorize key formulas and, just as importantly, know when to apply each one.
What happened to Wiley CFA?
Wiley CFA was acquired by UWorld in 2023. That means the same core curriculum that has helped so many charterholders pass the exam in prior years is still available to current candidates through UWorld.
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