Study Materials for 2023 CFA®, FRM®, Actuarial, GMAT® and EA® Exams

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The CFA® Designation

Level I of the CFA exam is the first of a series of three rigorous exams that must be sat and passed sequentially. The right to use the CFA designation is only granted once a member has passed all three exams and satisfied work experience requirements as specified by the Institute.

FAQs about the CFA® Exam

When can I sit CFA exams? Level I exams are given four times a year, in February, May, August, and November. Level II exams are given twice a year, in May and August. Level III exams are given twice a year, in May and November.
What are the costs to becoming a CFA charterholder? There is a one-time fee of USD 450 to enter into the CFA Program. Then, each exam costs between USD 650 (early registration) and USD 1,380 (late registration) to sit.
What experience do I need to register? You need to be in your final year of college, have a college degree, or have four years of professional experience.
How do I become a CFA charterholder? You need to have passed all three levels of the CFA examinations and 4 years of work experience in the investment industry.
How much study time is required for each exam? Candidates spent 308 hours on average to prepare for the exams. The average time spent on each exam level is as follows: Level I – 287 hours; Level II – 315 hours; Level III – 327 hours
What are the pass rates for CFA exams? Here are the latest pass rates: Level I – 45%; Level II – 45%; Level III – 56%
How much does a CFA charterholder make? The median salary for CFA charterholder in the USA is of approximately $86k.
What is the minimum passing score? The minimum passing score (MPS) for each level of the exam is determined by the CFA Institute each year after the administration of the exams. The MPS has never been released.
When will I know if I passed the exam? 60 days after the exam for levels I and II, 90 days for Level III.
cfa study materials

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  • Attempt thousands of exam-style questions for all levels of the CFA® exam to boost your confidence.
  • Our question bank simulates questions that replicate the difficulty of the actual CFA exam.
  • Create your own quizzes to enhance your understanding of specific areas.
  • Track your performance with our intelligent algorithms that let you compare your score with thousands of QBank users worldwide.
  • Questions are continually reviewed to reflect the latest syllabus content and exam structure
  • Sign up for free to start practicing with more than 150 exam-style questions covering each LOS. Or upgrade your membership to access 3,000 practice questions and unlimited customizable quizzes.

Tips to Help you Crack the CFA Exam

  • Start your prep early. The CFA exams are a marathon and require an extreme level of dedication.
  • Go through your notes at least twice. The first time around, you learn the concepts, but the second time you read the notes, you solidify your understanding of the CFA Program curriculum.
  • Pay attention to CFA exam weightings. For example, the Level I exam puts a lot of weight on Ethical and Professional Standards and a lot less on Alternative Investments.
  • Always use end-of-chapter practice questions and AnalystPrep quizzes. The CFA Institute does not give out a lot of information. Therefore, you should supplement your studies with a QBank to better your chances of passing the exam.
  • Be sure to take at least five mock exams. Time yourself and try to answer as many questions as possible in the three-hour timeframe given to you. Then, spend extra time reviewing your wrong answers and going back to the Study Notes if required.

CFA® Program

Level I Study Packages by AnalystPrep

AnalystPrep's study packages for the Level I of the CFA Exam start as low as $199.

Add video lessons and study notes for only $150 extra.

Combine all three levels, with lifetime access and unlimited ask-a-tutor questions for only $699.

Practice Package
/ 12-month access
  • Question Bank
  • CBT Mock Exams
  • Performance Tracking Tools
Unlimited Package (All 3 Levels)
/ lifetime access
  • Question Banks for all three Levels of the CFA Exam
  • Mock Exams for all three Levels of the CFA Exam
  • Performance Tracking Tools
  • Video Lessons for all three Levels of the CFA Exam
  • Study Notes for all three Levels of the CFA Exam
  • Essential Review Summaries

Level II of the CFA® Exam

AnalystPrep’s practice packages for Level II of the CFA exam start as low as <mark>$249</mark> with a 12-month access.

Level II of the CFA Exam - Practice Package by AnalystPrep
/ year
  • Question Bank (Item Sets)
  • Printable Mock Exams
  • Performance Tracking Tools
  • 5 Ask-A-Tutor Questions

Level III of the CFA® Exam

AnalystPrep’s practice packages for Level III of the CFA exam start as low as <mark>$249</mark> with a 12-month access.

Level III of the CFA Exam - Practice Package by AnalystPrep
/ 12-month access
  • Question Bank (Item Sets)
  • Essay Questions
  • Performance Tracking Tools
  • 5 Ask-A-Tutor Questions


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