If you want to pass the Chartered Financial Analyst (CFA) exam, you will certainly need the best CFA preparation books and study materials to prepare. CFA preparation books are a cheaper alternative to CFA exam review courses or classroom classes, but still represent a valid approach to CFA exam study preparation.
This article provides a comprehensive review of the best CFA preparation books currently on the market. It also contains a list of free CFA prep books and information on CFA prep sections. These books offer detailed instructions on the CFA curriculum along with practice questions, step-by-step guides, and a detailed explanation of financial analysis concepts.
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should i take the cfa?
Yes, you must take the CFA if you want to become a Chartered Financial Analyst. The CFA exam is a standardized exam that tests knowledge of investment tools, quantitative methods, wealth planning, portfolio management, and asset valuation.
The CFA certification will provide you with the analytical skills and experience to gain a wide range of roles at top companies hiring financial analysts in different fields including trading, research analysis, brokerage, corporate finance, financial advisory, financial reporting. , personal investments. , and more. CFAs are considered the gold standard in the field of corporate finance.
According to the CFA Institute CFA Program Candidate Survey, each candidate spends approximately 323 hours preparing for the CFA exam which focuses on different topics in the field of finance. However, there are CFA requirements to meet before registering for the exam process.
The CFA Institute requires exam candidates to have a valid passport and a college degree, be in the final year of a bachelor’s degree program, or have a minimum of four years of professional work experience in any field.
common cfa sections to prepare for
- ethical and professional standards. This section of the cfa syllabus assesses candidates’ knowledge of ethics, challenges to ethical behavior, and the importance of ethics and professionalism to the investment industry.
- Quantitative methods. This section focuses on quantitative concepts and techniques for financial analysis and investment decision making. has no weight on the level iii exam.
- economics. this part tests candidates’ understanding of the fundamental concept of supply and demand, market structure, and the concepts and macroeconomic principles. .
- financial statement analysis. the financial analysis section tests candidates’ knowledge of financial reporting procedures and standards. this part has no weight on the level iii exam.
- corporate issuers. this topic contains questions on corporate governance, investment and financing decisions, and the impact of environmental considerations and social in investment. it also has no weight on the level iii exam.
- equity investments. this section explores the characteristics of equity investments, stock markets, stock valuation models and the indices.
- fixed income. portion of the curriculum tests candidates’ knowledge of fixed income securities, markets, valuation measures, yields, return fundamentals, and bond risk , and the basic principle of credit analysis.
- derivatives. the section includes topics on basic derivatives and the derivatives markets, such as forward futures, swaps, and contingent claims.
- alternative investments. the alternative investments portion includes topics such as hedge funds, real estate, infrastructure, commodities, and private equity.
- management Portfolio Management and Wealth Planning.
- Portfolio Management and Wealth Planning. In this section, candidates will be tested on portfolio and risk management concepts, such as risk measurement and profitability, planning and portfolio construction.
top 10 cfa prep books to help you prepare
1. cfa institute: cfa program curriculum level i volumes 1-6
- Ideal for: students who want a comprehensive review of the entire curriculum.
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Developed by the CFA Institute, it is considered the official preparation book for the CFA exam. It is a six-volume CFA study guide for all 10 sections of the exam and provides essential learning tools for students. Each section includes a statement of learning outcomes that a student can use to build their study session and improve their performance. also offers sample questions, quizzes, and practice tests that are similar to the actual exam.
This resource is great study material for in-depth study. The best part of this preparation book is that it is free and ideal for those on a budget. you will get full access to the entire syllabus when you pay your exam fees.
2. level i schwesernotes™ & quick sheet
- Best for: cfa test candidates looking for a structured learning approach.
the kaplan schweser syllabus helps students learn important subjects by employing exam-focused cfa study notes that cover all content areas. the study work is divided into small lessons that make it easier to understand. also includes practice quizzes, step-by-step examples, and practice questions with explanations of the correct answers.
A nice feature of this package from this prep course provider is that those who purchase this book also get access to kaplan schweser’s online learning platform and a formula sheet for quick review.
3. wiley level i cfa program study guide 2022
- Best for: students seeking a high-level summary of the cfa curriculum.
This preparation book provides essential knowledge of difficult concepts at the first exam level. Exam preparation courses also offer detailed strategies and exam tips for tackling each section. this study plan comes with a learning outcome statement tracker to monitor personal progress and find information professionals may need for further review.
4. wiley level i cfa program hour 11 review guide and testbed
- ideal for: students who want to review cfa concepts.
This book was created to serve as a “summary of the summary”. It compiles all the crucial concepts, formulas, and rules for the CFA exam in one study guide, making it easy for students who want a quick refresher without having to reread every CFA book from cover to cover. it is best used as a companion preparation book.
5. cfa level 1 – hour 25 notes
- best for: students in the final stage of preparation.
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This cfa level 1 study guide helps students prepare for their exams. contains a summary of vital concepts, key formulas and points of this difficult exam. It is a great book to use in the final stages of your extensive CFA preparation to help you review what you might have missed from the initial stages.
It is very affordable and costs only $14.99. another nice feature is that it comes with a money back guarantee for those who are not satisfied with the quality.
6. cfa level 1 calculus workbook
- Best for: students looking to practice calculus questions.
This is a great test prep book to practice calculus questions for the CFA Level I exam. Contains 300 practice questions and detailed solutions on critical topics such as alternative investments, financial statement analysis, financial reporting and analysis, quantitative methods, economic analysis, equities and fixed income, and derivatives.
7. Chartered Financial Analyst Exam: CFA Level 1 Question Bank 2020 – Volume 2
- Ideal for: refining test-taking strategies and fine-tuning final pre-exam concepts.
This is another CFA preparation book from Havels Learning System that offers a comprehensive Q&A guide to help students prepare for the CFA Level 1 exam. Contains 19 study sessions on crucial CFA syllabus topics and provides over 1000 relevant exam questions with comprehensive answer explanations for students.
8. cfa confidential
- Best For: students who want to learn the do’s and don’ts in the world of cfa.
This is a book written by Greg Campion, current charter holder of the CFA, on what it takes to become a Chartered Financial Analyst. Provides a detailed review of everything you need to pass the CFA exam, cope with the stress of preparation, and manage anxiety on test day. This book does not deal directly with CFA concepts. however, it is an excellent companion study guide.
9. kaplan level iii schwesernotes & quick sheet
- Best for: cfa test candidates looking for a structured learning approach.
As the name suggests, this is a comprehensive guide for students preparing for the Level 3 exam. It provides a detailed breakdown of the CFA Level 3 syllabus, delivering lessons in short study sessions that make retention easy. of crucial information. includes practice quizzes, comprehensive study notes, and a quick sheet containing a summary of formulas, basic concepts, and definitions.
10. CFA exam study guide! level 1
- Best for: Busy students who don’t have much study time.
Author Travis Brody tries to make it easier for students to prepare for the CFA exam with this study guide. Contains a comprehensive review of essential concepts in the CFA syllabus and practice test questions. each section is broken into smaller micro-lessons to ensure all aspects of the exams are covered.
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free cfa books and resources to help you prepare
- free mock cfa level 1 exam
- salt solutions
- uworld finance cfa® level 1 exam
- bloomberg exam preparation
ift for level 1