How to choose CFA study material: what to look for in a prep provider
There is no single best set of CFA study material, because the right choice depends on how you learn, how much time you have and what you already know. What does exist is a short list of things good material has, and a few cheap ways to test a provider before you pay. This guide sets them out. We make Charta, which is one such provider, so weigh our view accordingly and use the checklist on any provider, including us.
Start with the official curriculum
Registered candidates receive the official CFA Institute curriculum, and it is the source of truth for what the exam covers. Many candidates still add a third-party provider, because the curriculum is long and the practice questions in it are limited. Decide whether you need a provider at all by looking at where you struggle: explanation, practice, planning, or all three.
What good material has
- Concise explanations tied to every learning outcome. Notes, video or both, mapped to the syllabus so you can see what is covered and what is not. Check that nothing in the syllabus is missing.
- A large question bank with real explanations. Not just the right answer: why each wrong option is wrong. Practice is where most learning happens. See how many practice questions to do.
- Questions that look like the exam. At Level I that means three options, stems with qualifiers such as "most likely" and "best described", and no "all of the above". If a provider's questions look nothing like this, you are practising something else.
- Full-length mock exams. Level I is 180 questions in two sessions of 135 minutes. A mock should match that, so you can rehearse the pace and the stamina.
- A way to find and fix weak topics. Scores by topic, and a plan that responds to them, so your hours go where the marks are.
- Review built in. Spaced review brings old topics back before you forget them. Without it, early topics fade by exam day.
- Current content. The syllabus changes between years. Check the material is updated for the year you are sitting.
Questions to ask any provider
- Is every learning outcome covered, and can I see the list?
- Do the explanations cover every wrong option?
- How many questions are there per topic, and do they match the exam's weights?
- Are there full mocks, and do they match the real format?
- Is the content updated for my exam year, and when?
- What happens to my progress if I stop and restart?
- What does it cost, and is there a trial or refund?
Test before you pay
- Use the free trial or free tier. A few hours with a provider tells you more than any sales page. Try a topic you find hard.
- Answer a set of questions and read the explanations. Do they teach, or only mark?
- Check the pace and tone against your preferred way of studying.
- Look for what is missing. The gaps matter more than the highlights.
Where Charta fits
Charta is built around a short diagnostic that places you on every topic, a study plan that follows your results, practice questions that explain every wrong option, and spaced review. You can try it free before deciding. See the plans. It is one option among several, and the checklist above applies to it as much as to anyone.
Common questions
What is the best CFA study material?
It depends on how you learn. Look for notes tied to every learning outcome, a large question bank with full explanations, realistic mock exams and a way to find your weak topics.
Do I need to buy study material, or is the official curriculum enough?
Registered candidates receive the official curriculum. Many add a provider for practice questions, mocks and structure, but whether you need one depends on where you struggle.
Is a free trial worth using?
Yes. A few hours with a provider on a topic you find hard tells you whether the explanations teach and whether the questions look like the exam.
How do I know the material is up to date?
Ask when it was last updated and for which exam year. The syllabus and topic weights change between years.
Sources
- CFA Institute, The CFA Program: the official curriculum, the exam format and question style.
Check the current exam format and topic weights on the CFA Institute website.