The CFA program is a lot cheaper than other postgraduate qualifications, but hey, every little helps, right?
Be careful though – free CFA exam materials floating around the internet can be outdated or inaccurate. So we’ve compiled a list of the best available free CFA study materials just for you, so you can get straight into exam preparation mode.
Constantly updated, here are all the latest free yet awesome resources we’ve identified for you!
300Hours
Free CFA exam study planner
“Failing to plan is planning to fail” – so clichéd but true especially in CFA exam preparations.
A study plan is a must for all CFA candidates to track progress, manage time and target improvements.
We have created and shared our free, personalized CFA Study Planner tool which has been used by more than 60,000 happy candidates. Try it out!
CFA exam calculator guides
It can quickly get confusing and overly complicated when it comes to choosing the right calculator for your CFA exam preparations. Whilst majority of candidates use BA II Plus, those who use HP12C are ardent fans.
No worries, we are here to help!
Whether you’re unsure which calculator to choose, or just want to learn more BA II Plus or HP12C calculator tips – we’ve got it covered with our CFA calculator guides:
CFA exam tips – Our 10 commandments for all levels
Being charterholders ourselves, we totally get – and shudder at the thought of – the painful process of studying and passing all 3 levels of the exams.
Back then, we wished others have told us what to expect, what to focus on, and just simply how to prepare for each level to maximize our chances of passing.
Thankfully, we have collected and summarized all these advice and tips from previous candidates and charterholders here for you:
Free probability distribution tables
Common probability distributions can be a nightmare for some, especially if you’re new to statistics.
However, with lots of practice and grasp of concept, it can easily be one of your stronger topics once you get the hang of it.
We have compiled the following list of probability distribution tables that you would need to learn how to use for Level 1 and 2:
- Z-Table (Cumulative)
- Students T-Distribution
- F-Table at 5%
- F-Table at 2.5%
- Chi-Squared Table
- Durbin-Watson Table
Before that, a few important things to remember:
- These full statistical tables would NOT be provided in the exams. However, you need to know how to use and read them correctly.
- You do NOT need to memorize any values from the T-distribution, F-distribution, Chi-squared distribution or Durbin-Watson table. If you need such information for a question, an excerpt from the appropriate table would be given in the exams.
- However, for the exams you NEED to memorize these 6 critical z-values for confidence intervals of:
| One-Tailed Test | Two-Tailed Test |
|---|---|
| 95% (1.645) | 68% (1.0) |
| 99% (2.33) | 90% (1.645) |
| – | 95% (1.96) |
| – | 99% (2.58) |
Free CFA mock exams and practice questions
CFA Level 1 practice questions
Besides simply identifying free stuff, we’ve taken it one step further.
We worked with IFT to create a completely new 90-question online practice test, weighted to the actual exam.
The practice test is free for all readers to take online, and upon completion you will receive a detailed answer and performance report, including a comparison to the rest of the sample that have previously taken the exam.
CFA Level 2 mock exam
This year, we worked with IFT to create a brand new CFA Level 2 practice exam. 44 questions with fully explained answers and performance report instantly generated upon completing the exam. And again, free!
CFA Level 3 mock exam
A brand new new 2 hour and 15 minutes, 44-question mock exam, weighted approximately to the topic guidance set by the CFA Institute for the Level 3 exams. This is a proper mock exam, using the item-set and vignette format that’s the same as the actual Level 3 exam item set session, rather than independent question-bank-type questions.
Kaplan Schweser
Free trial of Kaplan Schweser’s core study tools
Not sure if Kaplan Schweser is worth it?
Why not trial it for free for a week? This offer is available for all CFA Levels.
You get to check out samples of Schweser’s QBank, Notes (eBook 1), videos, topic quizzes and resource library.
Free CFA Level 1 Diagnostics Exam
Kaplan Schweser’s is helping out CFA Level 1 candidates with their 60 questions diagnostic exam to prepare for the exam. There are detailed answers after submission and you can see how you perform vs other candidates.
Salt Solutions
Free CFA mocks for all levels
Salt Solutions’ CFA exam platform is now live for Level 1, 2 and 3, has great early feedback.
They now have a new promo to provide a free mock exam for CFA Level 1, 2 and 3, for free!
It’s a full CFA exam product, so you can use this to prep for your CFA exam fully. We particularly liked the short, succinct videos with high production value, accompanied with study notes, which provides flexibility on study mode. Try it out yourself!
UWorld
CFA Free Trials for CFA Level 1 and 2
UWorld’s all-digital learning platform is highly focused on passing the CFA exams via practice questions.
They are offering 7 day trial to their Level 1 package (the previously 90 days free trial has ended), mainly focused on 2,400+ practice questions accompanied with detailed explanations, calculator keystroke cards, and the ability to make flashcards and notes easily as you practice.
We think it is a solid source of practice, and they are well reviewed so far, so definitely worth checking them out! Level 2 is also available now with a 7 day free trial.
UWorld’s Level 3 is launching soon too.
CFA Institute
Practice questions
Practice questions are based on curriculum topics, designed to help strengthen your understanding of the curriculum as you study.
They are 100% free, straight from CFA Institute, available to all registered candidates of all levels. CFA Institute has also recently launched a booster practice exam pack for 2024 exams at a super competitive price, do check it out!
Mock exams
All registered candidates have access mock exams by CFA Institute. This can sound obvious to some, but there are quite a number of candidates every year that don’t even know they have a free material from CFA Institute. The number of mock exams and formats vary from year to year, but do not miss this opportunity to get some practice direct from CFA Institute.
In fact, CFA Institute create these mocks from unused past year questions, so this is as close to the real thing as you are going to get.
The mock exam is structured with approximately the same topic area weights, time per question and format as the actual exam. Multiple mocks are released per Level in the Learning Ecosystem about 2 months before your exam date.
When preparing for the CFA exams, everything counts. Do not waste precious resources – definitely make sure you use the resources above to help you prepare!
Meanwhile, you may find these articles on CFA study preparations useful:
- Other Free CFA Candidate Resources – including Summary Notes
- CFA Level 1 Topics: What Is The Best Study Order?
- CFA Level 1: How to Prepare & Pass CFA in 18 Months
- CFA Level 2 Topics: What Is The Best Study Order?
- CFA Level 2: How to Prepare & Pass CFA in 18 Months
- CFA Level 3 Topics: What Is The Best Study Order?
- CFA Level 3: How to Prepare & Pass CFA in 18 Months
The study material is not showing for cfa level 1 how can I get it?
It seems that UWorld has ended 90-day free trial for candidates. Now only 7-day with super limited access to materials.
Hi Yiyang, yes they have unfortunately. They have a solid product for practicing and worth considering a purchase if you’re looking for lots of practice questions.
Sometimes I think that in order to study effectively, we need a balance between rest and study time. Play monkey mart in your free time to relax.
Hi, I took the 90 question CFA level 1 exam but only have the answers to the first 20 questions. Where do I find the rest?
Hello, where can I get all the cheat sheets of 2022, as you mentioned on mail. I have already subscribed to the mailing list, but have not received it.
Looking forwards for the same.
Thanks
Here’s one to get you started: https://300hours.com/cfa-level-1-ethics-cheat-sheet/
At the bottom of that page there’s links to the rest of the cheat sheets. Good luck and let us know if you have any questions!
Hi,
I didn’t get free material for CFA level 1 . I don’t understand, how does it work ? Do I get full material of books in PDF forms like there are 7-8 subjects in level 1 . I read the content above it mentioned some tips for CFA exams . Will I get a CFA book material in PDF format ?
hello ,can you provide me CFA level one books in pdf form …or can you give me any help regarding this cource ……I am Vikas rao seek to start this cource very sooniiii
Hi mate , would you mind telling me how’s you preparation going? Like I was getting into the same boat. Would appreciate your reply.
hello,
how can I access the free Schweser Jumpstart package?
Get it here: https://3h.rs/KS-CFA-FR1
hello
where i can find CFA Materials to download online ?
thanks
All free quality CFA materials have been listed in the article above. We don’t cover, ahem, ‘naughtier’ ways of getting free materials.
Hello,
I downloaded Kaplan Schweser’s free CFA Fundamental Ebook as recommended through this article. The ebook that downloaded is from 2012. I want to confirm that this version is still up to date with the CFA coursework currently.
Thanks.
Hi Kima, thanks for your patience!
I’ve reached out to Kaplan Schweser directly on this and they have said that the foreword and intro information in the eBook regarding the CFA exam is outdated and they are working to get it updated. That said, the actual content of the book (formulas, terms, concepts, etc.) is still accurate.
Hope this helps
Is the CFA L1 Schwsr QBank 2021 is available for free? Can you share the promo-code?
Hi Kardam, unfortunately Kaplan Schweser has just ended this offer. I tried the KS-QBL1 promo code again and it no longer works. Do check out our Offers section for the latest Offers.
Good day.
I used the study planner for level 3 last year, unfortunately my exam was postponed.
I have tried requesting another study planner since yesterday but have been unsuccessful.
If you could kindly email to my mailbox ( eddy@finreachsa.com) this would be much appreciated.
Hi Eddy,
All you need to do is request/create a new study planner.
Just put your details in the form at the end of this article (https://300hours.com/300-hours-rough-guide-to-a-solid-cfa-study-plan/) and click ‘Next’.
Espero iniciar mi preparación este año para dar mi examen a inicios del 2022. Cuento con su atención. Muchas gracias por su tiempo.