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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 make the right decision on 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, John 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.
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.
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 on every factor that matters.
Excellent Course Structure
I cannot say enough about the structure and organization of this program. 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.
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 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 the application of 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 55 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. These course notes, available in both print and digitally, distill the entire CFA program curriculum down into 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 in that respect. 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.
CFA Review Workshops
Every exam cycle, procrastination seems to be an issue and there are always some candidates who are left 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 in diligent 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 won’t get you nearly the depth of everything you need to learn. Treat this more as a capstone review, as it is intended to be.
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 $399, 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 without live classes, AnalystPrep is the best value in the game currently.
Awesome Video Lessons
As mentioned, 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. With the complete prep course costing just $399 (for 12 months of access), it is hard to beat this price.
Not only that, you can alternatively buy their prep materials for all three levels at the get-go for just $700. 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 gobs of practice work you get access to when you sign up. Level I candidates get access to 4,000+ practice questions and 5 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.
Although somewhat new-ish to the CFA prep space, Princeton Review has made a massive splash with their CFA prep course. Leveraging their decades of prep experience, learning science knowledge, and tons of prep resources, this review course gets instant credibility and has skyrocketed up our rankings of best CFA prep courses.
Essentially, Princeton Review has taken their proven test prep model from other exams (such as the GMAT and LSAT) and applied that same tried and true formula here, but with the input of CFA teachers and tutors, including university professors, CFA charterholders, and finance executives from major firms.
The Princeton Review CFA dashboard
With 50+ hours of video lectures, 3,000+ practice questions, 6 full-length mock exams, flashcards, and hundreds of pages of study notes, this is one the most extensive and robust course offerings on the market.
Princeton Review has clearly spared no expense in designing a top-notch prep package, and our team has nothing but high praise for this course after reviewing it.
Excellent CFA Video Lectures
The high point of the Princeton Review CFA prep course is their video lectures. These video-based lessons are led by some awesome CFA experts, who do a great job running you through content review, as well as exam taking strategies.
The CFA exam is packed with complex and dry subject matter, and the Princeton Review instructors manage to break that content down in an organized and easy to understand manner. Our team was particularly impressed with how Princeton and their instructors structure the course.
Princeton Review video lecture
For the CFA exam, you need to be able to quickly recall a number of equations, formulas and other points that are packed with detail. As such, you need a system to improve your retention, and the Princeton teachers give a number of excellent memory aids and techniques for memorizing and storing key information away in an efficient manner.
Not only that, we were really impressed with the production quality of these video lessons. In typical Princeton Review form, the video quality is superb and the design of the videos couldn’t be better.
The screen frequently cuts from your onscreen instructor to a digital whiteboard to show written notes, equations, and other content. These videos are truly awesome.
The Pass Guarantee
Perhaps the best feature of the Princeton Review CFA prep package is their pass guarantee. If you take full course, including watching all video lectures and working a majority of the practice problems, they guarantee you will pass your level of the exam, or your money back.
Princeton Review CFA practice problem
This is highly beneficial insurance policy that you just can’t get elsewhere. A number of other prep providers offer free course repeats if you fail, but we were happy to see Princeton Review put their money where their mouth is.
They are trying to really carve out a name for themselves in the CFA prep space, and there is generally no better way of doing that for an exam as hard as the CFA than offering top-shelf quality prep material and backing it up with a complete money back guarantee.
In case you didn’t see the news, UWorld recently acquired Wiley and adopted their CFA courses as their own. Therefore, you can now think of UWorld and Wiley as one.
In yesteryear, Wiley would be getting a top spot with a full showcase, but in all honesty, their course has kind of fallen off. It just hasn’t kept up with the times.
Yet, Wiley makes our list of best CFA review courses for a couple reasons, but most notably for their strong video instruction. With some of the more engaging and knowledgeable instructors in the CFA prep space, their video lectures are extremely informative.
This is the true highlight of the Wiley course. Beyond the video lessons though, Wiley’s students who pay up also get access to live, virtual classes.
Wiley CFA video lesson
These online class sessions, which take place roughly once per week over a few months’ time, offer students a chance to interact with their instructors and peers, and get a deeper dive into some of the more heavily tested areas.
In addition, supporting these instructional channels, Wiley also offers some solid practice work, including a couple thousand practice questions and two mock exams. While we found the accompanying text explanations of the problems to be a little thin, the practice material was otherwise serviceable.
Accelerate Bootcamp
Students that take Wiley’s premium course option also get access to their Accelerate Bootcamp. This is a pretty nice benefit to CFA studiers, particularly if you’re the type of student who likes to procrastinate and cram right at the end.
While that is definitely not the best strategy with studying for the CFA (you should have close to 300 hours under your belt by the time you sit for the exam), it is sometimes inevitable. And even if you haven’t procrastinated, it never hurts to have a 1- to 2-week recap of the most heavily tested topics and trickiest issues on the exam.
Wiley CFA dashboard
The bootcamp package includes additional video lectures (around 30 hours), a study guide and another mock exam.
It distills all the CFA study material down to its most critical elements and acts like a condensed study bible of sorts. We highly recommend giving this a thorough read right before the exam.
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.
