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Best CFA Prep Courses & Study Materials
Our comprehensive guide to the best CFA prep courses and study materials on the market
The CFA exam is one of the most grueling series of tests in the world. With pass rates of less than 50%, you are going to need a review course to help you prepare. But with so many prep courses on the market, how to do know which one is right for you? Our team has purchased, taken and reviewed just about every CFA prep course available and ranked the best ones here, so you can decide which is best for you.
To quickly navigate through this detailed CFA study materials guide, simply use the helpful jump-to links above.
Video: Which CFA Review Course Is Best?
In the video above, Lara from the Test Prep Insight team discusses the best CFA study materials on the market. For more detail, be sure to continue reading our full written guide below.
What Makes a CFA Prep Course Good?
Here’s how we evaluate CFA prep courses to determine which ones rank as the best. The CFA is notoriously difficult, with a pass rate hovering around 39% for Level 1, 43% for Level 2, and 50% for Level 3. With an exam that challenging, simply reading a review book or watching a few video lectures isn’t going to get you across the finish line. Candidates preparing for the CFA need a holistic prep course that includes both in-depth content coverage and high-quality practice work to help you apply what you’re learning and become familiar with the structure of the test.
Here are some of the features we look at while comparing CFA prep courses:
Clear written explanations that provide enough detail while being easy to skim
Engaging video lessons that break down complex concepts in easy-to-understand terms
Live class options for those who learn better in more of a classroom environment
Thousands of practice questions with detailed problem explanations
Realistic full-length practice exams that help you get to know the actual exam format
AI tools, analytics, and bonus resources
Content access period
Another important criteria is being an official CFAI Prep Provider, which is essential for including Learning Outcome Statements (LOS) in the materials and guaranteeing that you’re learning from charterholders who update their materials yearly to reflect the latest curriculum. All of the CFA prep programs we’ve included in our list are CFAI Prep Providers, and two of them — Kaplan Schweser and Mark Meldrum — are called CFA Institute Approved Prep Providers, which simply means they’ve had a long-term partnership with CFAI for over five years.
We also consider what type of learner each program is best for, as one approach won’t work for everybody. That’s why we’ve put together this comprehensive list of all the best options on the market, so you can figure out which package best fits your particular needs.
Kaplan Schweser provides the most well-rounded and comprehensive CFA prep curriculum that we’ve reviewed. They offer excellent video lessons, live classes, solid practice problems, and their signature SchweserNotes. Plus, the Schweser Securities AI tutor provides 24/7 support including custom study tips, clear explanations, and personalized resources whenever you need them, making them great for people who want lots of structure and support.
In short, this is a comprehensive prep course with a proven formula that you can trust. Kaplan covers all the bases and gets top grades in every category that matters.
Excellent Course Structure
I cannot say enough about the structure of this program, which is a huge win for really organized personalities. Kaplan uses a pretty traditional but effective framework of Learn➡️ Practice➡️ Assess.
In other words, you learn about a certain 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 practice set or exam.
Kaplan Schweser CFA performance data
That is the flow of the Kaplan suggested study plan. The learning modules are stacked in a pretty predictable order, with the occasional live class mixed in. Moreover, Kaplan accomplishes this through a feature called their Activity Feed, which directs you on exactly what to study and when, week-by-week.
You can choose between their Live Online or OnDemand course options, depending on whether you need the extra accountability of a set class schedule or the flexibility to simply log in whenever you get a little downtime. Either way, you’re getting the same structured curriculum; it’s just up to you whether you also want live online sessions included.
Kaplan has done a great job integrating all the different course resources into an intentionally sequenced and easy-to-follow schedule with bite-sized modules.
The Real Masterclass
Another highlight of the Kaplan package is their Masterclass series. These are strategy-based classes periodically layered into your study schedule. They are focused on applying what you’ve learned.
You get your direct, hard content review through the SchweserNotes, and then these Masterclasses recap the highest-yield concepts that you absolutely need to know, and then teach you how to apply what you learn on the exam.
The Kaplan Schweser CFA Masterclass series is great
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 more than 80 hours of Masterclass content, and it is worth every minute of watch time. With recaps of high-yield subject matter, the focus on application, and solid instructor advice, it’s worth its weight in gold.
SchweserNotes
For decades, SchweserNotes have been the gold standard of written study material for each level of the CFA exam. Level 1 comes with four detailed books that are simply unbeatable. These course notes, available in both print and digitally, distill the entire CFA program curriculum down to the most essential points.
Comprehending and retaining the critical elements of the learning outcome statements (LOS) is no easy feat (not even close), and these notes definitely help with that. And perhaps more importantly than just containing the right content, the SchweserNotes manage to convey this subject matter in an easy to understand manner.
They are easy to read, clear, and very concise (at least as far as complex CFA exam material goes). I especially like how these textbook-style notes use example problems to help demonstrate key points and how theoretical content plays out in the context of actual CFA style questions.
SchweserNotes in digital format
While we really like these SchweserNotes though, just know that they are definitely geared towards text-based learners. If you are a visual learner or do not do well with heavy reading, they may not be your favorite. Luckily though, each chapter does have a video summary at the end.
And as side note, Schweser’s Secret Sauce book is also money. It’s a great distillation of the most important concepts.
How Much Does Kaplan CFA Cost?
Here’s a breakdown of Kaplan pricing and packages for each level of the CFA Exam.
Kaplan CFA Level 1:
The Basic package costs about $430 and includes the Qbank, Masterclass videos, 2 full-length practice tests, and some study tools, including performance tracking
The Essential package costs about $800 and includes everything in the Basic package, plus the SchweserNotes, an AI tutor, and Schweser’s PassProtection
The Premium package costs about $1,100 and includes everything in the Essential package, plus the OnDemand review workshop and a total of 6 full-length practice tests
The Ultimate package costs about $1,500 and includes everything in the Premium package, plus live online classes and the live online review workshop
Kaplan CFA Level 2:
The Basic package costs about $480 and includes the Qbank, OnDemand Masterclass videos, 2 full-length practice tests, and some study tools, including performance tracking
The Essential package costs about $850 and includes everything in the Basic package, plus the SchweserNotes, an AI tutor, a total of 4 full-length practice tests, and Schweser’s PassProtection
The Premium package costs about $1,150 and includes everything in the Essential package, plus the OnDemand review workshop and a total of 6 full-length practice tests
The Ultimate package costs about $1,550 and includes everything in the Premium package, plus live online classes and the live online review workshop
Kaplan CFA Level 3:
The Basic package costs about $530 and includes the Qbank, OnDemand Masterclass videos, 2 full-length practice tests, and some study tools, including performance tracking
The Essential package costs about $900 and includes everything in the Basic package, plus the SchweserNotes, an AI tutor, a total of 4 full-length practice tests, and Schweser’s PassProtection
The Premium package costs about $1,200 and includes everything in the Essential package, plus the OnDemand review workshop and a total of 6 full-length practice tests
The Ultimate package costs about $1,600 and includes everything in the Premium package, plus live online classes and the live online review workshop
CFA Review Workshops
Every exam cycle, procrastination is one of the biggest barriers that busy candidates are up against. Life happens, and even the most well-intentioned candidates often end up scrambling, trying to pack in as much studying as possible in the final two weeks before the exam.
If you’re one of these students, or perhaps you’ve been diligent in your studying and just want a final refresher type crash course, Kaplan Schweser provides a really helpful final workshop. This workshop gives students access to video lessons, a live class component, and written study material in the form of a two-volume final review study guide.
SchweserNotes video recap
The written material goes hand-in-hand with the final workshop lessons, and provides a very succinct and informative presentation of the truly “need to know” stuff. The workshop delivers a very nice balance of content review (based on CFA exam weightings) as well as testing strategies, example problems, and more.
That said, our recommendation would not be to rely on this final review alone, as it wasn’t designed to give you the in-depth coverage you need to succeed on the exam. Treat this more as a capstone review, as it is intended to be.
Why UWorld CFA Stands Out As Best Alternative for Deep Comprehension
UWorld CFAstands out as our best alternative course, and importantly for the quality & depth of its content – making it one of the strongest CFA exam preparation courses available today.
UWorld acquired Wiley’s CFA prep business in 2023. While the core Wiley curriculum was retained, UWorld has significantly modernized and overhauled the platform with detailed explanations, improved analytics, and more competitive pricing. Plus their Accelerate Bootcamp is an intensive two day problem solving experience that is a must do before the exam (included in their highest package).
What stood out for me was the depth and detail of its question explanations and how it adapts in real time. They give you tons of supplemental resources such as digital flashcards that really help candidates stay organized come test time. Combined with a deep question bank and video lessons, UWorld’s CFA training feels far more advanced than its Wiley predecessor and is ideal for professionals balancing prep with full-time work.
Course Curriculum & Lessons Great for Busy Professionals
UWorld has improved the CFA program with slick graphics and actual finance examples. I found that the text lessons are easy to follow and very much aligned with the Learning Outcome Statements.
The video lessons run 45 to 60 minutes – the bite-sized approach will work well for busy professionals and keeps sessions digestible (similar to Kaplan Schweser). You get over 70 hours of video lessons total, which is plenty of content coverage.
Also, the video lectures in UWorld’s CFA prep are aligned to the CFA curriculum and have a ton of substance.
UWorld CFA video lecture by Peter Olinto
QBank Is One of the Standouts in CFA Prep
UWorld has invested significantly in their Qbank (or question bank) – what is helpful is that the platform adapts in real time: doing well pushes you towards harder material; struggling gets you back to foundational concepts.
There are over 2,000 questions in the Qbank, which is awesome. What I loved was that every question had an explanation for each answer, right or wrong, and supported with beautiful visuals.
I did quick quizzes to measure my retention after the end of each study session. The score reports had tons of detail, so it made it easy for me to go back to topics. In my case, I had to take another look at portfolio valuation, an area I needed a bit of help on.
Overall, I found that UWorld kept the methodical structure of the old Wiley program, but modernized the platform and added tools to help you learn after you answer each question – hence it’s verygood for candidates who want to dive deep into the course material.
Detailed answer explanation from UWorld
How Much Does UWorld CFA Cost?
Unlike most companies, UWorld keeps their packages priced the same, no matter which level of the CFA exam you’re preparing for.
UWorld CFA Levels 1, 2, and 3:
The Core package costs about $400. This tier gets you the Qbank, a digital review book, an AI assistant, and some nice tech tools like performance tracking and the mobile app.
The Advanced package costs about $700. At this level, you’re getting all the same features that come in the Core package, plus a study planner, video lectures, digital flashcards, 2 mock exams, and the UWorld SimpleSheets+.
The Elite package costs about $1,000. Choose this course if you also want to add in StudyPass (access until you pass), the Expert MasterClass, a Bootcamp, and live Q&A, with a total of 5 mock exams.
Realistic Mock Exams
So here’s the deal with UWorld’s mock exams – if you go with their Advanced package, you get two full practice tests, and Elite gives you five (the Core package doesn’t include any mocks). Sure that’s not as many as Kaplan offers, but the quality is pretty solid and they do a good job mimicking the actual exam format.
What I really like about these practice tests is how they nail the look and feel of the real CFA interface. Plus, the explanations afterward connect back to their question bank, which makes reviewing your mistakes way more useful than just getting a score and moving on.
These mocks can be tough but they’re designed to put you through the exact same grind as the real exam, so you’re going to feel a bit mentally drained afterward. But that’s the whole point — you want to know what it feels like to maintain focus to pace yourself and what it’s like when your brain starts getting foggy. Better to experience that during practice than on exam day.
All in all, UWorld has made some solid upgrades to their CFA program along with better pricing, and is a pretty good option for CFA prep.
AnalystPrep gets really highly marks on our list of best CFA review courses for one clear and simple reason: their combination of value pricing and high-quality study material.
With their mainstay “Learn + Practice” package costing just under $500, the AnalystPrep package costs a fraction of what you will pay for other full-scope CFA exam prep packages.
And while they don’t have the name recognition of Wiley or Kaplan Schweser, this is still a really impressive CFA prep course that we think is more than capable of getting you across the finish line.
AnalystPrep’s CFA study notes are a clear highlight
Offering 4,000+ practice questions for their Level I program, which can all be customized into an unlimited number of tailored quizzes, AnalystPrep offers a ton of value on the practice side of prep.
These practice questions each come with a detailed and insightful solution that our team was very happy with, especially given their value pricing structure.
And it’s not just all practice work with AnalystPrep, as Level I students who purchase their standard prep package with a “Learn” component also get access to video lessons and written study notes.
While their video lessons don’t seem to go as deep as those from Princeton Review or Kaplan perhaps, we did find them to be rock solid, and the written notes are excellent. The notes are detailed and concise, delivering actionable tips.
All in all, this is a very impressive suite of study materials for the price. In my opinion, if you’re going the self-study route, AnalystPrep is the best value in the game currently.
Awesome Video Lessons
One of the highlights of the AnalystPrep program (assuming you go with their standard Learn + Practice package) is the suite of video lessons they offer. To be completely honest, before reviewing this course, we had our doubts about how good these video lectures could be given the budget price point, but the verdict is in: they are awesome.
Our team loved the video lessons from AnalystPrep
All of the videos are led by Professor James Forjan, who does a great job covering content review in an easily digestible way. He appears in the top right corner of the videos and breaks down concepts on a digital whiteboard.
The first portion of each video lecture covers critical content review, followed by a series of sample problems to demonstrate key points.
With 60+ hours of these high-quality video lessons, we were really impressed with this component and thought the coverage is just about perfect. Though we actually like the newly rolled out video lessons from Princeton Review perhaps a touch better, these video lessons from AnalystPrep are right up there.
Best Bang for Your Buck
As referenced above, the clear selling point of the AnalystPrep course is the pricing. Here are all of the different plans:
AnalystPrep Level 1:
The Practice Package costs about $400, which is about the same as most companies’ basic package, but includes a surprising number of resources, including 4,000 practice questions, 5 full-length mock exams, performance tracking, a formula sheet, 12-month access, and 5 ask-a-tutor questions.
The Learn + Practice Package costs about $600 full retail and also gives you 60 hours of video lessons and 2,000 pages of study notes.
AnalystPrep Level 2:
The Practice Package costs about $400 and includes 225 item sets of 4 to 6 questions each, 2 full-length CBT mock exams, performance tracking, a formula sheet, 12-month access, and 5 ask-a-tutor questions.
The Learn + Practice Package costs about $600 full retail and also gives you 50 hours of video lessons and 1,500 pages of study notes.
AnalystPrep Level 3:
The Practice Package costs about $400 and gives you an ESG Qbank, ESG CBT mock exams, performance tools, 250-page summary notes, 12-month access, and 5 ask-a-tutor questions.
AnalystPrep Levels 1, 2, and 3 combined:
The Unlimited Package costs about $800 after discounts and comes with resources for all three levels of the CFA exam, including video lessons, study notes, Qbanks, CBT mock exams, performance tracking, unlimited ask-a-tutor questions, and lifetime access.
The Unlimited+ Package costs about $1,300 and weekly live classes for Level 1, plus the same study resources for all three levels that come with the Unlimited Package and an AI stud planner.
Now, the Unlimited+ Package is more of a mid-range price for a live CFA class, but the self-study plan is an extremely affordable option, especially considering that you can usually get the Learn + Practice Package for about $500 after discounts.
Not only that, you can alternatively buy their prep materials for all three levels at the get-go for about $800. Again, not to beat a dead horse here, but these are excellent bargains. No matter how you cut it, AnalystPrep’s value cannot be beaten.
Heaps of Practice Work
The other clear highlight of the AnalystPrep coursework for me was the tons of practice work you get access to when you sign up. Level I candidates get access to 4,000+ practice questions and 5 computer-adaptive mock exams.
That is a crazy amount of practice material, and it’s right up there with some of the highest volumes in the CFA prep industry (perhaps second only to Kaplan).
AnalystPrep’s practice questions are highly realistic of the real thing
Additionally, our team found this practice material to be very well-designed and similarly replicate the difficulty you will see on the real exam. The questions very closely match the style and content of real CFA exam questions across all question types.
Given the price points of this prep course, our expectations were not very high, but we were blown away by the quality of these questions.
Here’s why we like Mark Meldrum, and it’s pretty simple: the video lectures. Mark Meldrum himself leads these, and they’re excellent. In fact, he has a bit of a cult following, with people on Reddit even calling him “Meldaddy” or “Daddy Meldrum.” And honestly, I get it. His lectures are fantastic.
Not only are the videos concise, well-structured, and straight to the point, but his teaching style is also built around clarity.
Video lesson from Mark Meldrum
He has a real talent for breaking down complex topics into digestible pieces, integrating real-world examples to make abstract concepts easier to grasp. His approach makes difficult material far more accessible than traditional textbook explanations.
That said, the biggest downside of this course (and why we ultimately prefer Schweser) is that it feels somewhat disjointed, and the curriculum isn’t as comprehensive. While Kaplan’s prep program follows a well-developed and structured curriculum, Meldrum’s program feels more like a collection of resources rather than a cohesive study plan.
A look inside the Mark Meldrum course
We also found ourselves needing to supplement with additional materials outside the course, which costs about $1,300 for the most popular package.
Overall, it’s still a great course, and the video lectures are top-notch, but it falls just short of earning our highest rating.
How Much Does Mark Meldrum Cost?
Here’s a quick rundown of Mark Meldrum pricing and course options.
Mark Meldrum CFA Level 1:
The Self-Study package costs about $440. At this level, you’re getting video lectures, PDF notes, the Qbank, mock exams, the formula sheet, office hours, the mobile app, and up to 10 instructor comments.
The Self-Study + Applied Analysis package costs about $750. This package is about the same as the basic Self-Study package, but also includes applied analysis coverage.
The Instructor-Led Online package costs about $1,310 and gives you all of the basic self-study resources, plus live classes, additional video lectures, 6 mentor hours, and the One-Fee-to-Pass (access until you pass).
The Instructor-Led Online + Applied Analysis package costs about $1,630 and adds in applied analysis on top of the live class.
Mark Meldrum CFA Level 2:
The Self-Study package costs about $550 and gives you video lectures, PDF notes, the Qbank, mock exams, the formula sheet, office hours, the mobile app, and up to 10 instructor comments.
The Self-Study + Applied Analysis package costs about $860. This course gives you all the same tools as the Self-Study package, plus applied analysis.
The Instructor-Led Online package costs about $1,420 and adds in live classes, extra video lectures, 6 mentor hours, and the One-Fee-to-Pass (access until you pass).
The Instructor-Led Online + Applied Analysis package costs about $1,740 and includes the full live class as well as applied analysis.
Mark Meldrum CFA Level 3:
The Self-Study package costs about $650. With this package, you get video lectures, PDF notes, the Qbank, mock exams, the formula sheet, office hours, the mobile app, and up to 10 instructor comments.
The Self-Study + Applied Analysis package costs about $980. This is essentially the Self-Study package, with the addition of applied analysis coverage.
The Instructor-Led Online package costs about $1,500. This plan is great for anyone who wants all of the self-study resources, plus interactive live classes along with extra video lectures, 6 mentor hours, and the One-Fee-to-Pass (access until you pass).
The Instructor-Led Online + Applied Analysis package costs about $1,850. This package gives you everything Mark Meldrum offers, including the live course, applied analysis, and full self-study resource kit.
Many charterholders on Reddit say they used Kaplan Schweser alone and passed all three levels, often with 90th percentile scores. Kaplan is especially popular for CFA Level 1. Reddit users like how concise the SchweserNotes are for efficient review and recommend combining Kaplan with the CFAI curriculum for the most in-depth studies.
UWorld
According to Reddit users, UWorld shines for their mock exams and Qbank. The video lectures by Peter Olinto are excellent, but keep in mind that you’re hearing from many other instructors as well, whose communication style worked for some candidates but not others. UWorld is generally praised for their Level 1 and Level 2 work, with users feeling a little less sure of the quality of the Level 3 materials.
AnalystPrep
Reddit users without as much financial background appreciate AnalystPrep, which is helpful for developing an initial understanding of the material. While many candidates like the videos, some users combined AnalystPrep with another program for additional practice work.
Mark Meldrum
Reddit users are generally split about Mark Meldrum; they either rave about his course or feel like it just didn’t click for them. Those who like Mark Meldrum recommend combining his video lectures with the official CFAI curriculum for more comprehensive coverage.
Should You Use More Than One CFA Prep Course?
Yes, and it can work well, but only if you’re choosing two prep packages that meet different needs, rather than paying twice for the same basic content. For example, Mark Meldrum’s lectures are designed to reinforce CFA concepts rather than provide a step-by-step curriculum introducing you to the content, so you might go with Kaplan for your primary review course and use Mark Meldrum as an add-on for whenever you need more explanation. UWorld’s Qbank also works well as a supplement alongside a weightier course, especially if you just want to add in some more drills with detailed problem explanations.
That said, most candidates don’t need to stack providers at all. A single comprehensive course like Kaplan Schweser is enough on its own. The real risk isn’t cost, it’s time: two overlapping question banks eat into study hours without adding much value, so if you do combine providers, treat one as your primary curriculum and the other as a targeted supplement.
Is the CFA Exam Worth the Cost?
Between registration fees, exam fees for each level, and a review course, most candidates end up spending several thousand dollars to earn the CFA charter, and that’s before factoring in the retake costs if you don’t pass a level on the first try. It’s a legitimate investment, and it’s fair to ask whether it pays off.
For most candidates pursuing careers in investment management, equity research, or portfolio management, the answer tends to be yes. The CFA charter is one of the most respected credentials in finance, and it can open doors to roles and salary ranges that are harder to reach without it, often making the upfront cost worth it over the course of a career. That said, it’s not the right investment for everyone. If your career path doesn’t touch investment analysis or portfolio management, the time and money may be better spent elsewhere. The clearest way to protect that investment is to reduce your risk of a retake, which is exactly where a quality prep course like the ones covered in this guide comes in.
FAQ
Do I need a CFA exam review course?
Yes. The CFA exam is one of the most grueling and difficult exams in the world, generally requiring 300+ hours of studying per level. That level of prep will require a commercial review course.
How much does a typical CFA prep course cost?
CFA review courses vary widely in price, from under $200 up to $2,000+ depending on the features and scope of coverage that you need.
Do some review courses offer prep for all three levels of the CFA exam?
Yes. Some CFA exam prep providers do provide bundle packages that include prep materials for all three levels of the exam.
Which CFA prep courses offer a pass guarantee?
Providers like UWorld and Kaplan offer CFA pass guarantees if you meet course completion criteria. These guarantees usually include extra access time or free course retakes.
Is live CFA prep better than self-paced?
Self-paced courses offer flexibility for learners with a lot going on, but live classes can offer better accountability and structured coverage of difficult topics for those who need a more step-by-step approach to CFA prep.
Is Mark Meldrum worth it?
Yes, Mark Meldrum is worth it as a supplemental resource if you need additional video breakdowns to help you understand complex concepts, but keep in mind that it isn’t a standalone course. For more comprehensive CFA prep, consider a more thorough curriculum like Kaplan.
Is AnalystPrep better than Kaplan?
No, we rank Kaplan higher than AnalystPrep, as Kaplan has a more in-depth CFA prep program with live classes, more full-length practice tests, and the best-in-class SchweserNotes. AnalystPrep is a solid value pick for those on a budget, but if you can afford it, Kaplan Schweser is worth the investment.
What's the best CFA Level 2 prep provider?
The best CFA Level 2 prep provider is Kaplan Schweser, due to their thorough ScweserNotes, engaging Masterclass video lectures, live class option, and CFA review workshops.
What's the best prep course for CFA Level 1?
Our team considers Kaplan the best pick for CFA Level 1 prep. The SchweserNotes are the gold standard for CFA review, and Kaplan also provides a live class options, engaging video lectures, six full-length practice tests, and an excellent review course for last-minute cramming.
Editor's Choice 
Value Pick 
