Study Material - CFA® Exam Levels I, II and III

CFA Level 1 study material and exam prep

Quick review summaries...

CFA exam day is approaching. Can you recall all ten topic areas? Not sure about LIFO liquidation in financial reporting or confusing total capital with total assets in corporate finance? May be you need a quick re-check on SML vs CML in portfolio management? Need to brush up on IFRS vs GAAP? Do you want to re-read thousands of pages? You can do better than that. Grab our flowchart style summaries and you are good to go! Download PDF files now for 2020/2021 CFA exam levels I, II and III.

CFA Level 2 notes, study material and exam prep

Bullet points chapter notes!

Want to look at Apple's balance sheet or Microsoft's financial statements? Want to read a joke about an economist, a chemist and an engineer? It is all there in official CFA curriculum! But stop! Do not go in that amazing world of knowledge without FinQuiz bullet points chapter notes.  FinQuiz notes for level I, II and III are excellent resources to reference as you cover the CFA material. These will be your takeaways from that dive in amazing books from CFA Institute. Download PDF files of FinQuiz 2020/2021 CFA exam chapter notes for Level I, II and III.

CFA Level 3 question bank, notes and exam prep

Exam like Question Bank!

Most tricky questions (not difficult) and detailed explanations (you will fall in love with our answer explanations); a revolutionary 'teaching by answer explanations approach!' developed by Team FinQuiz and perfected over the last decade.

CFA Level I Exam


CFA Level II Exam


CFA Level III Exam


Why Chartered Financial Analyst® exam prep products by FinQuiz?

At FinQuiz, you can expect more than just a sloppy study sheet.

FinQuiz is created and staffed by former CFA test-takers. We know the ins-and-outs of CFA test-taking, and we want to ensure every hard-working student has an opportunity to pass the exam.

You will quickly discover why our exam materials are the most sought-after in the nation.

Level I books, study guides and notes for quick review of textbooks in CFA exam prep

Passing Level I is the first step towards becoming an officiated CFA Charterholder. Do not treat it lightly!

cfa level 1 study material and study plan for chartered financial analyst review

CFA Level I material

It is certainly true that Level I is the easiest exam relative to the exam levels II and III. The key word here is relative.

Level I preparation is an arduoustask in its own right, and it being the easier of the three should not convince you it will be a cakewalk!

CFA notes level1 PDF based on curriculum 2020

Why you need CFA study guide for Chartered Financial Analyst study?

Consider the scope of the study material - level I: the fundamental ethics and professional standards, as well as a laundry list of financial topics, like equity, economics, portfolio management and so, so much more.

The official CFA curriculum clocks in at approximately 3000 pages of material, so much you could study it for a year and still not master it.

You only have a limited amount of time for Level I exam preparation, so every second counts.

FinQuiz CFA exam Level 1 study material can save your time!

Chartered financial analyst study guide for CFA Preparations

While you will need a full and total reading of all official level I textbooks to pass, it is practically impossible to read through textbook twice, let alone read through it enough to absorb all the key concepts.

To excel, you need supplementary materials and study program to guide your focus and efforts for level I.

CFA training online and CFA level 1 study guide

This is why FinQuiz is such a fantastic tool for serious students. We supplement every LOS of official curriculum with helpful notes, formula sheets, summaries and other CFA study material to ensure a comprehensive understanding of everything you need to know.

Consider just some of what we offer in our Level I study material and download free CFA study material PDF by clicking here.

Question Bank

CFA curriculum 2020 pdf, level 1 mock exam pdf with answers and level 1 notes 2020

The Level I exams may be easier, but they are certainly not easy. Official CFA exams are more than just a list of questions: there is specific timing, style and procedure you will have to undergo when taking your exam. That is why we constructed our mock materials to accurately mimic the flow and length of the official exam, so you are fully mentally and emotionally prepared for the actual test. Sitting down to a heaping bowl of exam questions is probably not your favorite dish, but it will get you closer to that charter. We are here to help. Want to learn more? Read: How to remember 90% of what you studied for CFA exam?


Level 1 study and chartered financial analyst online materials as alternative to books from Schweser

3000 pages is a lot of material to study, and you only have so much time. To properly study for the CFA, you need to condense the less critical aspects so you can focus on what truly matters. Our summaries are constructed by experienced CFA test-takers and administrators, so that our summations are comprehensive on what will be tested to the minute detail, and relatively light on the less important materials.

Chapter notes

Our notes are the best on the market, bar none. Designed to supplement, not replace, your Level I materials, these notes will reinforce what you need to know so you are more fully prepared for the exam. You would not need extra study guides from anyone else: you will find our notes fully cover it all.

FinQuiz CFA Level 1 Notes Syllabus 2020 and 2021

Mock exams

CFA level 1 books pdf, level 2 notes and material level 1

The Level I exams may be easier, but they are certainly not easy. Official CFA exams are more than just a list of questions: there is specific timing, style and procedure you will have to undergo when taking your exam. That is why we constructed our CFA Level 1 mock exam to accurately mimic the flow and length of the official exam, so you are fully mentally and emotionally prepared for the actual test.

Formula sheet

Level I is notorious for the diverse and complicated formulas you will need to memorize perfectly. Do not despair just yet: our study materials including comprehensive formula sheets, with tools and tricks towards memorizing each and every individual formula. You will find with FinQuiz formula sheet, memorization will be a breeze!

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CFA review for Level II

CFA review for level 2, free study material and exam books

Congratulations on passing Level I of the CFA Program Exam!

Take a bit to celebrate, but now is the time to get cracking on tackling the Level II exam.

Luckily, your experience with Level I has already given you some understanding of just how difficult this will be!

Why choose FinQuiz for Level II?

CFA online course and CFA level 1 study material pdf

Whereas Level I was your fundamentals, Level II can be considered the more detail-oriented focus on the more complex and professional topics, like fixed income, financial statement analysis, and so much more.

Just like Level I, CFA Institute’s curriculum for Level II can reach nearly 3,000 pages, but be warned: these materials are much more difficult to understand.

Level II is the essential next-step for achieving greatness in your financial career. Without Level II, you cannot move on to Level III or become an official CFA Charter holder. You have worked so hard to get where you are today, but you will have to double your efforts to achieve the prestigious designation you desire.

The road ahead is no easy one, but do not be discouraged. You conquered Level I, which means you can conquer Level II too!

But do not go at it alone: FinQuiz’s widely appraised study guide materials will ensure you receive the proper studying experience to excel on your Level II examination.

Level II CFA Program Question Bank

CFA Level 3 Preparation books for classes near me and online courses.

The question sets in the Level II exam are radically different from the ones you were tested on in Level I.

At Level II, you can expect a lengthy story accompanied by data and tables, after which you will have four to six questions to answer.

Our question bank mimics hundreds of these questions, simulating what you can expect on the exam.

This will fully prepare you for the scope and type of responses necessary to achieve excellence.

FinQuiz Summaries for Level II exam

CFA online guides and best CFA study materials

If you thought you need more succinct explanations for Level I materials, just wait till you start studying for Level II!

While a rigorous reading of your official CFA curriculum is essential, our smart summaries will help condense complex topics like Financial Statement Analysis, Equity, and Fixed Income into a format that’s easier to understand and study.

You’ll also have access to numerous flow charts, formula highlights and key concepts to increase your retention so that you can pass the Level II exam.

Practical Mock Exams

Just as Level I exams are different from Level II in question format, so too are they different in timing and pacing.

To fully prepare yourself mentally and emotionally for your exam, you need experience in exactly how the exam will be scheduled and conducted.

Our mock exams will fully fortify your mind and spirit for what will be a grueling multiple hours.

Formula Sheets

Memorizing a vast number of formulas is a significant obstacle to be hurdled at any stage of the CFA examination.

Level II exams are no exception, and any mindful CFA candidate will want a convenient way to memorize key formulas.

Our formula sheets condense all this material in an easily accessible, convenient, and highly effective formula study sheet. Never worry about memorizing those formulas again with our fantastic study sheet.

Study Plan for Level II

Pacing and order of study is far more important than you may realize at first glance!

Our CFA study plan will provide a flexible, customizable outline of your studying goal and process so that you can most efficiently prepare for your Level II CFA Program Exam.

CFA Level III Prep

Fantastic work! Passing Level II is no easy task: now, you are closer than ever to being a CFA Charter holder!

What lies ahead is Level III, which is by far the toughest level yet.

Level III is the definitive CFA exam: tough, gritty, and merciless.

Levels I and II were not easy, but compared to Level III they are cakewalks. Every CFA charter holder will tell you just how grueling passing the Level III exam was.

But just because it is difficult does not mean it is impossible: many have successfully passed the Level III program, and with strong effort, dedication, and the proper studying materials, you can be one of them.

Level III is not as voluminous as its Level I and II counterparts, but what it loses in length it more than makes up for in complexity.

The CFA Charterholder designation is the most prestigious title in finance for a reason: to get to it, you have to pass the Level III exam first.

Intensive and comprehensive studying, training and information-gathering is essential to conquering this portion of the CFA exams. These exams are truly the great equalizer!

The best, and most successful CFA Program candidates do not just study hard: they also supplement their materials with FinQuiz. FinQuiz provides more than just summations and study guides.

We will fully prepare you for the intense essay-type format that Level III is notorious for.

Our first-class prep material will guide you through Level III, offering materials, tools and strategies that will maximize your potential for success on the Level III exam.

With your effort and our CFA exam-like questions, detailed and clear summations, and concise yet extensive curriculum notes, success is practically guaranteed. Congratulations in advance, future CFA Charterholder!

Robust Level III CFA Program Question Bank

CFA level 1 textbook pdf, ebook pdf and study guide pdf

Level I was voluminous, Level II a complicated format, but Level III questions are outright frustrating.

It is absolutely essential you make great use of our thousands of grueling and complex mock questions to fully and totally prepare you for the Level III exam.

Our question bank is a fantastic study tool; easily navigable, and chock-full of tools like bookmarking, adding notes, and giving feedback to the FinQuiz’s question developers, this study bank will be an indispensable tool for preparation towards your Level III exam.

Smart Summaries

level I Books for exam preparations

Not only are there thousands of pages of Level III material, this material is also far more complex than Level I and II.

To fully master it requires a smart allocation of your time: the proper resource to do this with is our expertly crafted summations.

Created by experienced CFA program teachers these summations will properly outline and detail an overview of every topic in the curriculum, complete with diagrams, bullet points and formulas.

Your chance of success will increase exponentially with the Level III Summary at your disposal!

Practical Mock Exams

CFA level 3 essay type exams pdf, past exams and mock exams

All CFA examinations are a grueling mental test, but none quite like the essay-based Level III examination.

Our mock exams are formatted to mimic the time constraints and length of the actual exam, so you can fully prepare yourself for adequately allocating time towards construction of your essay and item-sets.

Formula Sheets

Level III contains far more numerous and far more complex formulas than the preceding levels.

Thankfully, you can conquer this obstacle with easy access to our comprehensive formula sheep.

Our formula sheet conveniently places every formula you need to know in a legible, accessible three-column-format sheet.

Great for memorization and for parcting questions from the question bank!

Study Plan

Level III is highly complex and rigorous, so now more than ever you need a plan to tackle your studying.

Our flexible study plan will give you the structure and order necessary to most efficiently achieve your study goals.

CFA Level I Exam


CFA Level II Exam


CFA Level III Exam


CFA exam tips by FinQuiz

You can read study tips and other helpful articles for CFA Program exam here.

What to do if you fall behind in studying for CFA exams?

So what do you do if you’ve lost some valuable time studying for the exam? First, don’t assume that you can’t still hit that 300-hour study target. With eight weeks left, you could start now and spend six hours a day, six days a week and still make it.

A Scientifically-Proven Way to Study for the CFA Exam

The phrase ‘study smarter, not harder’ is thrown around a lot but candidates may not be taking the advice to heart. Studying upwards of 300 hours for the CFA exam is hard enough but even that may not get you closer to the CFA designation if you’re not retaining the information. You truly do need to master the material in order to recall it on the exam and you won’t be able to do that by just reading through the curriculum.

An Overlooked Benefit of the CFA Exam

CFA exams are truly the great equalizer! Some of the candidates pulled up in BMWs and Lexus, pulling off their designer sunglasses before entering the building. Others pulled into the parking lot in things that may once have been considered cars, but are now a loose compilation of spare parts. Whatever your economic situation in life, you can’t BUY the CFA charter.

Books to Read when You’re Not Studying for the CFA Exam

Studying for the December CFA Program exam is over and most candidates haven’t yet started studying for the June exams. What does a motivated CFA Program candidate do to pass the time when there’s nothing to study? Check out the book ideas below to keep your skills fresh and get ahead of the pack while you’re waiting for the next CFA Program study season.

Studying for the CFA Exam without knowing you are studying

I always liked to start early and set a relaxed CFA study schedule but I’m not going to tell you that you need to get busy studying immediately.What I can tell you is that there is a way you can actually keep your skills fresh while waiting for later to really start studying.It’s a little thing I like to call stealth studying and everyone should work it into their daily routine.

5 Things I Wish I Knew about CFA Level 1 Exam

I may be wrong and it just may be my cynical side but most public education seemed to me more about getting grades than learning. You showed up, took the tests and that was it. And the tests really were not that difficult. School was fairly easy, even up to my bachelor’s programs. Sure there were some tough spots when I would put off a semester project but a couple of late nights and it would be easy again. That’s not the CFA exams and most people get this rude awakening in Level I.

How to Pass the CFA Exams – A Basic Strategy

We have covered strategies and suggestions for level-specific studying in prior posts. Each level has its ‘core’ topics and should be approached in a way to maximize points. With around 50% of candidates failing any given level each year, you can’t afford to let easy points go by not studying as efficiently and effectively as possible. Fortunately, there are also strategies and suggestions that will carry you through all three CFA exams. Some of these ideas are general ideas for effective studying while others are specific to the CFA curriculum and testing.

100 hours of CFA exam study in 3 Weeks!

Studying 100 hours for the CFA Program exams, or even more, in three weeks may not be a problem for some candidates. If you can put other classes or responsibilities aside for a few weeks while you cram for the exams, then it doesn’t even amount to a full-time schedule. Other candidates are not as fortunate. Devoting all your time to the exam isn’t possible when you have a full-time job, a family or a full schedule of college courses. But you can still get in another 100 hours of studying before the exams, picking up a ton of additional points and maybe putting you over the pass-no pass level.

CFA Curriculum Warning: Do Not Neglect

The actual length of the CFA curriculum varies a little each year but it’s generally between 2,500 and 3,200 pages. When you get the books in the mail, or receive the digital version, that may seem like a monstrous task. Over the three years of studying for the exams, I think my upper body strength grew just as much as my financial knowledge just from carrying the books around. Study guides meant to substitute for the curriculum vary but generally range between 1,400 and 1,700 pages. At under two-thirds the length of the official curriculum, it seems like a no-brainer and I know many candidates who have only rarely even peaked inside their curriculum books. And many of them are still candidates.

Top 9 CFA Level 1 Formulas | Must read

Peeling back the cover on your Level I CFA Program books can be a shock at first. Thousands of pages and hundreds of Level I CFA Program formulas sit in front of you and can seem overwhelming. Before you freak out, it’s not really so bad. While formulas become crucial on the CFA level 2 exam and its quantitative focus, the formulas on the first exam are much more about learning relationships and the process. Learn the ‘why’ of the formula and you’ll remember how to work it on the exam easily.

CFA Exam Results, What to Tell the Friends and Family

If you are part of the approximately 50% of candidates that do not pass the exams each year, there are a thousand questions and doubts swimming through your head right now. What did I do wrong? Should I try again? Is it worth it? We talked about these questions in another post, but one of the most stressful questions is going to be, “What to tell friends and family?” You have sacrificed so much of your time with them leading up to the exam and they have supported you all the way. How do you face the embarrassment of telling them you failed the exam? Most likely, few have faced anything as challenging as the CFA exams and do not understand how half the candidates taking a test could get washed out.

This Person Will Keep you from Passing the CFA Exams

Your greatest hurdle preparing for the CFA exams is not going to be your new job, your newborn that wants 100% of your attention, or giving up any semblance of a social life. As cliche as it may be, your biggest challenge for passing the exams is YOU. You are going to get in the way of earning the charter by being lazy and by letting fear keep you from doing what needs to be done. Did He Just Call Me Lazy?? By lazy I don’t mean everyone is slothful vagrants, sitting around doing nothing. I mean that it is easy to lose focus and your commitment to the process.

Will the CFA Charter Get Me a Job???

This is probably the question I see most often from candidates. The CFA exams can be extremely demanding and candidates want to know that their efforts will be rewarded. There are two problems with the question though. First, it always seems to get asked most in the months leading up to the exam. It isn’t a legitimate question as much as it is fear of failure trying to give you a reason to give up, something I addressed in detail in a prior post. Ask yourself if you are dedicated enough for the exams before you begin level 1 (and at latest maybe before level 2 now that you know what you are up against), then stick to your decision. Before I address the second problem with the question, we’ll cut to the answer.

CFA® Program Study vs. Family

The title above is the title from a recent forum post on the LinkedIn group. While the underlying subject of juggling a personal life and family with the CFA exams is a constant topic, I thought the title was interesting and brought back memories of managing my own social life with exam preparation. I thought the forum title was interesting because it is how many candidates feel about studying for the CFA exams and…well, everything else. It seems that preparing for that 6-hour monster in June puts you at odds with everything else; your family, your friends, anything you previously enjoyed.