Cfa prep
Study guides, formula sheets, and concept breakdowns organized by level — built to pass, not just to read.
CFA Exam Prep
Free study guides for all three CFA levels — topic summaries, key formulas, practice strategies, and the resources you actually need to pass. No paid course required.
80 guides — Level 1, Level 2, Level 3 + exam resources
Browse by Level
Click a level to see every topic and study resource.
CFA Level 124 guides
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CFA Level 224 guides
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CFA Level 320 guides
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Pick Your Level
Each level has a different focus. Here’s what you need to know before you start studying.
CFA Study Toolkit
Quick references and comparison guides to support your study sessions.
CFA Exam Quick Facts
Frequently Asked Questions
Common questions about the CFA exam and how to prepare.
How long should I study for CFA Level 1?
CFA Institute recommends 300+ hours. Most candidates spread this over 4–6 months, studying 2–3 hours per day. If you have a finance background, you might need less time on some topics, but Ethics and Financial Reporting still require serious attention. Our Level 1 study plan breaks this into a week-by-week schedule.
Is the CFA worth it?
If you want a career in investment management, equity research, or portfolio management — yes, the CFA is the gold standard credential and carries real weight. If you’re targeting investment banking, consulting, or corporate finance, an MBA might be more useful. It depends on your career goals. Our CFA vs. MBA comparison walks through the tradeoffs.
Which CFA level is the hardest?
Most candidates say Level 2 is the hardest because of the depth of the material — especially equity valuation and financial reporting. Level 3 has the added difficulty of constructed response (essay) questions, but the content is more intuitive if you’ve internalized Levels 1 and 2. Level 1 has the lowest pass rate because many candidates underestimate the breadth of material.
Can I pass using only free resources?
Yes, but it’s harder. The CFA Institute curriculum (included with registration) plus free resources like EquityRef’s topic guides and formula sheets can be enough if you’re disciplined. Paid prep providers (Kaplan, Mark Meldrum, etc.) add structure, video lectures, and mock exams that save time. See our study materials guide for an honest comparison.
What jobs can I get with a CFA charter?
The CFA charter is most valued in portfolio management, equity research, risk management, and investment consulting. It’s also respected in corporate finance, private wealth management, and credit analysis. It won’t help much in pure investment banking or trading, where deal experience and technical skills matter more. Our CFA career paths guide details each option with salary ranges.