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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.
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 John 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.
Bottom line, these CFA books are really 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 pretty 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 pretty 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 a pretty 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 really 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 really solid and you learn a ton from each one. One thing that’s pretty 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). Pretty 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 really 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 really 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 really improved things 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 really 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 pricing advantage at the highest tier. Basically, each company offers several different course options and UWorld is on par or slightly cheaper at the entry and mid tier levels.
UWorld’s base package is roughly the same price as Kaplan’s ($400 vs $430), the mid-tier package is about $100 cheaper than Kaplan’s, and as noted above, is about $500 less at the highest tier.
It is important to note that Kaplan’s highest tier (Ultimate) comes with more features, such as 6 mock exams vs. 3 for UWorld. Plus both offer a guarantee that you will have access to the course programs if you don’t pass the first time.
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.
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?
The CFA prep courses from Kaplan and UWorld each have their own strengths and weaknesses. With that said, our team believes Kaplan beats UWorld when it comes to CFA books, realism of practice tests, and quality of instructors.
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.
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