Best CFA Exam Prep & Courses Online (2026): Schweser, Meldrum & More

Last updated: July 2026. Written by Josh Hutcheson, OnlineCourseing editor. See our review methodology.

The CFA (Chartered Financial Analyst) charter is one of the most respected — and most demanding — credentials in finance, requiring you to pass three levels with pass rates that regularly sit below 50%. The right prep provider makes a real difference to whether you pass on the first attempt. We focused on the providers serious candidates actually use across all three levels, plus affordable options if you’re testing the waters or shoring up a weak topic.

Best CFA Prep Providers at a Glance

The Best CFA Prep, Reviewed

1. Kaplan Schweser — The Gold Standard

Schweser is the prep provider the largest share of CFA candidates use. Its condensed “SchweserNotes,” massive question bank (QBank), and full-length mock exams are the backbone of most study plans, and it offers structured packages for all three levels. It’s not cheap — full packages run into four figures — but for an exam with pass rates often below 50%, most candidates consider it money well spent. If you want the safest, most-trodden path and don’t mind paying for it, this is it.

2. Mark Meldrum — Best Value

Dr. Mark Meldrum’s video courses have become a candidate favorite at a fraction of the big-provider price. His lectures are thorough, clear, and cover all three levels, and his study-plan guidance is a big part of the appeal. Many candidates pair his videos with a question bank like AnalystPrep for the practice side. If budget matters — and for a self-funded candidate it usually does — start here.

3. AnalystPrep — Best Practice Questions

Passing the CFA is ultimately about doing questions, and AnalystPrep’s question bank and mock exams are well-regarded, affordable, and cover all three levels. It works well as your practice engine alongside Schweser or Mark Meldrum’s lectures — and its own concise video lessons make it a viable primary provider for Level 1 on a tight budget. Of the paid providers here, it’s the one we’d point a cost-conscious candidate to first for practice volume.

4. Wiley Efficient Learning — The Structured Alternative

Wiley’s CFA Review (built on the well-regarded former Elan Guides material) is the most common alternative to Schweser. It breaks the curriculum into short, focused lessons and pairs them with a solid test bank and study-planning analytics that track your readiness by topic. Candidates who find Schweser’s density overwhelming often prefer Wiley’s bite-sized structure. Pricing sits in the same premium tier as Schweser.

5. CFA Courses on Udemy — Budget & Supplements

Udemy has affordable, topic-specific CFA Level 1 courses — quantitative methods, financial reporting, equity, and so on — that are handy for shoring up weak areas without buying a full package. They’re best as a supplement rather than your primary prep, and you should check that a course targets the current curriculum before enrolling, since the CFA syllabus changes yearly.

A few other names come up often and are worth knowing: IFT (Institute of Financial Training), whose Arif Irfanullah video lectures are a budget favorite, and Bloomberg Exam Prep. Both are legitimate; we’ve focused the reviews above on the providers we see candidates rely on most across all three levels.

What Is the CFA, and How Is It Structured?

The CFA (Chartered Financial Analyst) charter is awarded by the CFA Institute and is one of the most respected credentials in investment management. Earning it means passing three sequential exams — Levels 1, 2, and 3 — and meeting a work-experience requirement (currently around 4,000 hours of qualified experience). Each level builds on the last: Level 1 tests foundational knowledge across the curriculum, Level 2 focuses on asset valuation and application, and Level 3 emphasizes portfolio management and synthesis. Most candidates take 2–4 years to complete all three, assuming they pass each on the first attempt — and many don’t, given the pass rates.

CFA Level 1: What to Expect (and the Best Prep)

Level 1 is where everyone starts, and it’s the broadest of the three. It covers ten topic areas — ethics, quantitative methods, economics, financial statement analysis, corporate issuers, equity, fixed income, derivatives, alternative investments, and portfolio management. The exam is computer-based, offered several times a year, and consists of multiple-choice questions split across two sessions. Ethics carries significant weight and is often the difference between passing and failing, so don’t leave it to the end.

Because of its breadth, Level 1 is where a good prep provider pays off most — structured video lectures plus a large question bank keep you from drowning in the curriculum. Best Level 1 prep: Mark Meldrum or AnalystPrep for a cost-conscious candidate; Schweser if you want the industry-standard package. Plan your study around your weakest topics, not the ones you already enjoy.

CFA Level 2: What to Expect (and the Best Prep)

Level 2 is the level most candidates find hardest. The format shifts to item sets — “vignettes,” each a mini case study followed by several questions — and the emphasis moves from knowing concepts to applying them, especially in equity, fixed income, and financial-statement analysis. You can no longer skim; you have to work problems under time pressure using information buried in the vignette.

Best Level 2 prep: this is where practice volume matters most, so a heavy question bank is essential — AnalystPrep or Schweser’s QBank paired with Mark Meldrum’s or Schweser’s lectures. Candidates who passed Level 1 on light prep often underestimate Level 2; give it the full ~300 hours and prioritize timed vignette practice over re-watching lectures.

CFA Level 3: What to Expect (and the Best Prep)

Level 3 is different again. It centers on portfolio management and wealth planning, and historically includes a constructed-response (essay) section alongside item sets, though the CFA Institute has been evolving the format — check the current structure when you register. The essay portion trips up strong test-takers because it rewards concise, correctly-framed written answers, not just recognizing the right multiple-choice option.

Best Level 3 prep: a provider with strong essay/constructed-response practice and graded feedback is worth more here than raw question volume. Mark Meldrum and Schweser both invest heavily in Level 3 essay strategy; practice writing full answers under time and compare them against the official guideline answers relentlessly.

CFA Exam Costs & Pass Rates

• Enrollment fee: a one-time fee of around $350 when you register for Level 1.
• Exam registration: roughly $940–$1,250 per level depending on how early you register (early-bird pricing saves meaningfully).
• Prep materials: separate — budget anywhere from ~$300 (Mark Meldrum) to $1,000+ (full Schweser or Wiley packages) per level.
• Pass rates: historically below 50%; recent Level 1 pass rates have hovered around 40%, with Levels 2 and 3 varying year to year. Disciplined prep and full-length practice exams are what move you above the line.

Always confirm current fees on the CFA Institute website, as they’re adjusted periodically.

How to Study for the CFA

The CFA Institute recommends roughly 300 hours of study per level, and most successful candidates take that seriously. A proven approach:

• Start early (4–6 months out): work through video lectures from Mark Meldrum or Schweser topic by topic.
• Practice relentlessly: a question bank like AnalystPrep is where real learning happens — do questions as you finish each topic, not just at the end.
• Master ethics: review the Code and Standards multiple times; it’s heavily weighted at every level and very learnable.
• Mock exams: in the final 4–6 weeks, sit full-length timed mocks and review every miss until you’re consistently above the curriculum’s passing range.

Which Provider Should You Choose?

Match the provider to your budget and how you learn:

• Want the safest, most-used package? Schweser or Wiley Efficient Learning — premium price, complete ecosystems, used by most candidates.
• On a budget? Mark Meldrum for lectures plus AnalystPrep for questions is the value combination most self-funded candidates land on.
• Need practice volume above all? AnalystPrep’s question bank, paired with whichever lectures you prefer.
• Just filling gaps? Topic-specific Udemy courses or the official CFA Institute Learning Ecosystem, which is included with your registration.

Is the CFA Right for You? (And the Alternative)

The CFA is ideal for investment management, research, and portfolio roles — but it’s a multi-year commitment. If you want a faster, more practical finance credential focused on modeling and analysis, the CFI Financial Modeling & Valuation Analyst (FMVA) takes months rather than years and is more hands-on. We compare the two in depth in our FMVA vs CFA guide.

Frequently Asked Questions

What is the best CFA prep provider?

For most candidates, Kaplan Schweser. For best value, Mark Meldrum. For practice depth, AnalystPrep. For a structured alternative to Schweser, Wiley Efficient Learning. Many candidates combine video lectures from one provider with a question bank from another.

What is the best CFA prep for Level 2 and Level 3?

For Level 2, prioritize practice volume — a heavy question bank like AnalystPrep or Schweser’s QBank paired with strong lectures. For Level 3, prioritize constructed-response (essay) practice with guideline-answer review; Mark Meldrum and Schweser both invest heavily in Level 3 essay strategy.

Can I pass the CFA with free materials?

The official CFA Institute curriculum is included with your exam registration and is comprehensive, so a disciplined candidate can pass using it plus practice questions. Most people add a paid provider for efficiency and structure.

How long does it take to pass the CFA?

CFA Institute recommends ~300 hours per level, and the charter typically takes 2–4 years across all three levels (assuming you pass each on the first attempt).

Is the CFA worth it?

For investment management and research careers, yes — it’s a globally respected credential. For corporate finance or modeling-heavy roles, a faster credential like the FMVA may fit better.

Are Udemy CFA courses good enough on their own?

Generally no — they’re best as affordable supplements for specific topics. For a full study plan, use a dedicated CFA provider plus the official curriculum.

Related guides: FRM Certification · FMVA vs CFA · Best Financial Modeling Courses · CFI Certifications · Best Online Courses