About Bloomberg CFA Exam Prep

★☆☆☆☆ Poor
Gongerjim • Level 1

I am an experienced professional and am fairly confident I should pass the CFA. I chose BloombergPrep because I felt their money back guarantee signalled confidence in the material.

I’ve actually been shocked by the low quality of the materials. They are full of errors – I have highlighted whole lessons that teach the wrong thing! Mock questions are very different from the actual CFA questions.

Good luck if you are trying to learn this material the first time from the classes – you won’t have a chance. The adaptive learning software tests you on concepts they haven’t taught you. A junior colleague of mine completed the course and fairly predictably failed.

I don’t normally post negative reviews but in my view this is an expensive waste of money and time and I would like to prevent other candidates from making the same mistake.

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★☆☆☆☆ Poor
Anonymous Moose • Level 1

The Bloomberg Exam Prep service has a dysfunctional AI, an incorrect time tracker, and errors abound (both spelling and grammar and just straight up incorrect answers that conflicted with the CFA textbook).

Additionally, a lot of the questions they provided would have no chance of showing up on the exam because they were way too long/ esoteric.

I’m not saying you can’t pass using this material, I’m just saying you’ll a) be a lot happier, b) save a lot of time, and c) save your money, if you even just use the CFA Institute provided material instead.

0/10 I would not ever use them again, and I will spend the rest of my working years warning anyone else I know taking the CFA exam not to use them.

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★★★★★ Excellent
Richard L. • Level 1

I used BloombergPrep to prepare for my CFA Level I and found the program to be crucial in my success.

The user-friendly interface and algorithm used to unlock various sections of the study plan based on personal preparedness are very effective. As a working professional (working long hours), it was much easier to plan and format my study based on the outline and structure of BloombergPrep’s program.

I spent 90% of my time studying the BloombergPrep program, and the remaining 10% making flash cards to refresh formulas and key concepts. There was minimal time spent studying uses other resources, or reading the official CFA prep material and books.

Level I was a success and I have made a bundle purchase of Level II and Level III to prepare me for the next exams. Also, customer service are very helpful in resolving issues.

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★★☆☆☆ Fair
mrbones92 • Level 1
The content is good, but the AI software is quite frustrating. After you have finished a section and you get a few questions wrong further down the line, it resets those topics, undoing your progress. I also think the instructions are too brief as they assume you already know a lot. Therefore a printed curriculum is a must have. I expected more from Bloomberg to be honest.
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★★★★★ Excellent format helps retention
TJ Hooker • Level 1
Bloomberg uses an excellent format with regular questions recapping the topics you’ve learned as you go along. The topics are broken down into ‘micro’ topics which are easy to work though. Also there are a lot of questions as you go along. It’s a great tool.
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★★☆☆☆ Fair
Nikolay • Level 1
Makes you feel ready for the exam during the course of study, however when trying practice questions on CFA website you will eventually find yourself unprepared for the real exam.
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★★★★☆ Very Good
tolly66 • Level 1
Bloomberg is new to the CFA game, and it shows as there were some bugs with their “Ask-A-Tutor” feature and their predictive analysis. However, the staff quickly replied to all concerns and credited my account accordingly. The practice questions and tests were definitely a HUGE reason why I passed Level 1.
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★★★★★ Excellent
Zeid • Level 1
I have used Bloomberg prep for the Level 1 and I aced the exam. I felt like the actual exam was way easier than Bloomberg’s mocks. I will definitely use their services for Level 2.
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★★★★☆ Questions throughout is a great idea
ComplianceGuy • Level 1
The constant testing of knowledge through questions throughout the learning stage helps to ensure that you have grasped the concept before progressing to the next stage
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★★★★☆ Good, but format needs to improve
Naanull • Level 1
I believe that the format for learning is actually quite good. I also believe that the format needs to improve. As it stands it is a great compliment and a good preparation for the exam, however, as a stand alone it is not sufficient.
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★★★★☆ Supplementary use only
Oliviakmp • Level 1
Useful online learning, but lacking some basic information. Would use as a supplement but not as a main prep provider.
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★★★★☆ Very Good
Zentra17 • Level 1
Possibility to reset progress from modules would be great. Currently it only gives the possibility to reset the entire course.
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★★★★☆ Very Good
Jonhwang • Level 2
Interesting lesson structure, engages without making factual information difficult to digest.
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★★★★★ Get this
far_w • Level 1
Excellent CFA preparation tool. Definitely a must-try. You will find the teaching of concepts as small concise nuggets of information very effective.
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★★★☆☆ Good
Penny Eilles • Level 1
Bloomberg is good for practice questions. You still need to read the CFA Institute books!
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★★★★★ Excellent
Lance • Level 1
Their CFA preparation materials are plentiful, especially simulation exams. I found the guidance and recommendations very relevant.
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★★★★☆ Very Good
Quanr • Level 1
Good and straight-to-the-point material. A great time saver.
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★★★★☆ Very Good
Dirk Cristofol • Level 1
Quite decent. Liked the adaptive nature of the course construct.
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★★★★☆ Very compact curriculum
tolly66 • Level 1

According to their timer, I have put in 103 hours of study time already (with an additional 100 hours with other materials). I have taken a practice exam and asked multiple questions from their tutor. Also, I initially attempted to study straight from the CFA Curriculum (CFA Books), so I have a decent comparison. I am studying for Level 1; I don’t have any information on Level 2 or 3 for Bloomberg’s software.

Pros:

• Unlike the CFA Institute books, the Bloomberg software won’t put you to sleep and is great at explaining points of confusion. When I first started with the CFA Institute books, I was having a difficult time with Economics, and the books were not helping. I moved on to other materials and hoped to revisit Economics at a later date. When I purchased the Bloomberg software, Economics was the first subject I went to, and the software made comprehending the lessons easier. Bloomberg achieves this through their question-based approach to teaching materials, which forces users to think about questions and materials and their machine-learning software, which guides you through different lessons based on your previous performance.
• The software also gives you “Practice Questions” within each concept, usually in blocks of 10, which is useful for building endurance. Combined with their machine-learning software, this feature strengthens knowledge retention, as it will direct back to previous readings, to check if you remember key lessons.
• Bloomberg has an “Ask-a-Tutor” feature, which allows you to send questions to CFA charter holders. The response day is usually 24 business hours, which is a fast turnaround.
• The pass guarantee shows that Bloomberg stands behind their product. Also, the 95% completeness clause is an outstanding motivator for test-takers.
• The dashboard shows you the percentage of correct answers within each reading, which helps pinpoint weaknesses and areas of improvement. Also, the dashboard shows how much time has been spent on each topic.
• The support team is quick to respond to software problems and are quite helpful.
• The practice exams have been properly weighted, and it shows how long it took a user to answer each question. You also have the option of printing the exam and inputting your answers manually.

Cons:

• The direction seems completely random at times. When using the CFA Institute books, I keep an organized notebook, arranged by reading/topic. With the Bloomberg software, it will direct you to another topic, while you’re in the thick of a current one. Thankful, you do have the option to ignore the recommendation and stay on your desired topic. You’ll need multiple notebooks to keep all the information organized.
• There were a few questions that had incorrect answers, which I have brought to the support team’s attention. They have taken care of those.
• Sometimes, the “Ask-A-Tutor” feature does not give the amount of detail needed to settle confusing information. You are allowed to ask two follow-up questions without losing additional tutor requests (for my level, I have 20 “Ask-A-Tutor” questions). This shortcoming is probably due to the shortage of instructors during the Bloomberg Prep banner. For the CFA Level I, they only have one tutor available. I believe they will expand their tutoring staff shortly.

Conclusion: You can tell that Bloomberg is a newcomer in the CFA Exam Prep market, but they are doing an adequate job of helping users learn the material. In addition to Bloomberg, I receive Kaplan’s “CFA Question of the Day” in my inbox. Since I started using Bloomberg, my accuracy on Kaplan’s questions improved because I felt more comfortable analyzing the information in each question and using the mental evaluation system the software forced me to develop internally. I recently took a practice exam, and I scored 65%, which is close to passing, and I haven’t even started with the ethics part of my study material. The Bloomberg software has made me feel more comfortable facing the challenging questions that the CFA will throw at me five weeks from now.

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★★★★☆ Good, for a new product. Some kinks need ironing out. Fast internet needed.
Innis Duchan • Level 1

Bloombergprep has unique software that guides me from the start to finish all the material including all the practice from learnt material for retention purpose. This old-new approach has some features that worth noted as below:

• You’re supposed to follow the software’s guidance to get through all the material needed and practice questions. For some, this method may work, but maybe due to my age, humble background or other reasons, I cannot optimally utilize this feature, I felt that what I learnt is scattered around in my brain. I have some difficulties relating one topic with another, and I feel comfortable if I can finish one whole topic one-by-one. But with the software throwing me multiple topics simultaneously and adding practice questions from previous material in between… it’s a highly stimulating and interesting way of learning I presume, but it’s just not suitable for me.
• The learning process is done with Question and Answer sessions. It’s like you have your personal tutor with you, explaining everything and asking questions to stimulate your curiosity. It’s quite fun as you will not feel alone while you study, and get to practice answering questions as you go along. The end-of-module practice questions are also a big help to apply what I have learnt.
• I can manually pick what I want to learn, and have a study sequence according to my own preferences by picking whatever topics available that I want to learn at a time
• You need a fast internet connection. With my moderate internet connection, opening the Bloomberg page/module takes quite some time. Added up over months, this is a lot of wasted idle time. I found that if my internet connection was slow, I tended to just give up studying and do something else instead. If your country having a good stable internet connection, it would not be a problem.
• They have a tutor that can answer questions (basic package gets you 20 ask-a-tutor questions). In theory, this takes care of any questions or clarifications you need as you work through the material, but a lot of my questions were about typos or errors in the material. I ended up getting more credits simply because I wasn’t really using my questions – I was helping them debug!  Good people behind the platform, but as this is a new product, some minor errors should be expected.
• The package includes 6 full exams. Plenty of exam simulations is always good for practice. I used 4 of them and am quite satisfied with the questions’ quality and the answers provided.
• I ended up spending more than 300 hours using this platform, but mostly due to the waiting time of opening a module/page. I will recommend this provider to younger people who love to learn from their iPad/notebook with a good internet connection.
• Good value for money too!

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★★★★★ So far, so good
davidsedrak • Level 1

I signed up for Bloomberg’s CFA Exam Prep back in February and using them has helped me focus significantly.

I was studying from Kaplan Schweser material but realized that there was too much material. It became overwhelming to cover.

Bloomberg is all algorithmic and tests you on your weaknesses to help you pass. They offer guarantees on passing for all 3 of their packages and it’s all online based. I’m able to study everywhere, on the bus on my way to work, whenever I’m waiting around, or at my desk. I highly recommend Bloomberg for whoever is looking to save some time.

I’m 78% through the curriculum and have only spent 112 hours rather than the usual 300.

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