Best CFA Level 1 Study Materials Compared

The best CFA Level 1 study materials in 2026 are not a single product but a combination of two to three resources tailored to how you learn. Based on hundreds of real candidate experiences shared on r/CFA, the most effective approach pairs video lectures or condensed notes for learning with a dedicated question bank for practice and CFA Institute’s official mocks for exam simulation. This guide compares every major provider across the full materials stack.

If you are specifically looking for a deep dive into question banks alone, see our detailed CFA Level 1 question bank comparison.

Why do most successful CFA Level 1 candidates use multiple study materials?

The CFA Level 1 exam covers 10 topic areas across 180 questions. No single provider excels at everything. Video lectures explain concepts. Condensed notes enable fast revision. Question banks build exam stamina. Mock exams calibrate your readiness. Each resource type serves a different stage of preparation, and the candidates who combine them consistently outperform those who rely on just one.

This pattern surfaces repeatedly in success stories. An engineering graduate who passed both Level 1 and Level 2 in the 90th percentile used Mark Meldrum videos for learning, Kaplan Schweser notes for revision, and CFAI end-of-chapter questions for practice. One r/CFA commenter distilled the formula: “MM’s videos + Schwezer Notes + CFAI LES = best combination ever.”

A candidate who passed all three levels on first attempts while working full time described a similar layered strategy: Mark Meldrum videos as the primary learning tool, downloaded notes for reference, and CFAI mocks plus question banks for practice. Another commenter who went Kaplan-only and also passed in the 90th percentile observed: “Just goes to show there are many ways to get to the same result. Do what works best for you.”

The lesson from community data is consistent: the specific providers matter less than having the right combination and putting in consistent study hours. As one 90th-percentile scorer emphasized: “If you are going to study 90 minutes a day, STUDY 90 MINUTES A DAY.”

Which video lecture provider should you choose for CFA Level 1?

Video lectures are the primary learning resource for most CFA Level 1 candidates. The two dominant providers are Mark Meldrum and Kaplan Schweser, with Let Me Explain (LME) serving as a popular supplement and several Indian providers like Sanjay Saraf and Aswini Bajaj popular in South Asia.

Mark Meldrum is the most frequently recommended video provider on r/CFA. His lectures focus on the conceptual reasoning behind CFA material rather than just walking through formulas. One candidate who passed all CFA levels on first attempts while working full time described MM as the foundation of their entire strategy: videos for learning, review videos for revision, and MM’s question bank plus mocks for practice. Another commenter captured the sentiment: “MM is worth every penny. He allowed me to pass Lvl3 working a full time job and only studying for a month and a half.”

Mark Meldrum starts at $419 for Level 1 self-study access, which includes video lectures, a question bank, mock exams, and a study schedule planner. His “one fee to completion” policy means candidates who fail can re-access the materials for the next sitting without additional payment. A candidate who scored in the 90th percentile with no finance background relied exclusively on MM material: “Didnt use the CFA books at all. Only CFAI material I used was their questions and 1 mock.”

Kaplan Schweser takes a different approach centered on structure and written materials. One candidate who used both providers explained: “I personally found Kaplan to be a lot more useful. They provide you with a dynamic study calendar that helped keep me on track. But Mark Meldrum is great if you’re better at self pacing and want to go more in detail with your learning.”

Kaplan’s video lectures receive more mixed reviews than Meldrum’s. As one commenter noted: “I have heard a lot of bad reviews from people about Kaplan. His books are really helpful but I am not sure about his videos.” However, another commenter pushed back strongly: “Kaplan is insanely overhated on this sub.” That candidate passed Levels 1 and 2 above the 90th percentile using Kaplan exclusively.

Let Me Explain (LME) is a YouTube and membership-based video provider run by Mr. Lyjak. LME is not a standalone prep solution, but it fills a valuable niche as a concept clarifier. One candidate described the complementary role: “I use both MM and Let Me Explain. I like Let Me Explain if I really don’t understand a certain topic. He has so many videos that go in depth on a particular topic.” Another who combined Kaplan books with LME and CFAI QBanks said: “Let Me Explain totally worth it. Great lessons for a few bucks.” A commenter who used both MM and LME for Level 1 concluded: “LME explains concepts really well, better than MM in my opinion. But you really need the practice questions.”

For candidates choosing between Meldrum and Kaplan for their primary video resource:

• Choose Mark Meldrum if you learn best through video, prefer conceptual depth, and are comfortable with self-paced study
• Choose Kaplan Schweser if you want a structured calendar, prefer reading over watching, and value the broader study ecosystem (notes, QBank, and review workshops together)
• Add Let Me Explain as a low-cost supplement if you get stuck on specific topics regardless of your primary provider
• Consider free YouTube content from IFT, PrepNuggets, or Khan Academy if budget is a constraint

How do Kaplan Schweser’s study notes compare for CFA Level 1?

Kaplan Schweser is the most established name in CFA preparation, and its strongest asset is the SchweserNotes: condensed study notes that distill the official curriculum into a more manageable format. Even candidates who prefer other providers for video lectures consistently praise Schweser’s written materials.

Multiple candidates on r/CFA report passing all three CFA levels using Kaplan as their primary or sole resource. One commenter who passed all three levels on first attempts above the 90th percentile wrote: “Kaplan does a brilliant job at explaining concepts and with the practice that they give.” Another shared: “I passed all three levels on first try exclusively with Kaplan. The only time I opened CFAI was during L1 to read ethics.”

A comprehensive review from a candidate who scored above the 90th percentile on Levels 1 and 2 highlighted Kaplan’s on-demand review workshops as particularly valuable: “The On Demand Review Workshops brilliantly distilled the key testable areas, problem types, and the necessary vernacular for each topic.” The same reviewer noted Kaplan’s focus on “how to take the exam, which is a massive hurdle.”

An Indian CFA charterholder who earned the designation without coaching through pure self-study summed up: “Schweser + CFAI questions are enough. If an average student from a tier-2 college can do it without coaching, you can too.” That candidate used only Schweser Notes and CFAI official practice questions for all three levels.

Schweser’s known limitations center on video quality and depth on certain topics. One candidate noted: “The books are the only good thing. QBank and video suck.” But another disagreed strongly: “This is a wild take. The Kaplan QBank is wonderful. I did not do a single practice question outside of Kaplan and breezed through the CFA program. 90th % and finished in 1 year.”

Kaplan Schweser packages for Level 1 range from $379 (basic QBank and notes) to $1,449 (premium with live classes and mentoring). An experienced CFA instructor with a decade of teaching candidates advised buying the cheapest Schweser package, arguing it contains everything needed to pass Level 1. One commenter who passed all three levels using Kaplan confirmed: “I used Kaplan and never opened the curriculum. Passed all 3 levels in 18 months.”

Are CFA Institute’s official materials enough on their own?

Yes, candidates have passed CFA Level 1 using only CFA Institute materials, and some have done so with strong scores. One candidate who passed in February 2026 relied exclusively on the CFA Learning Ecosystem (LES) questions, Deepseek AI for generating summaries, self-written mind maps, and the CFA Institute Premium Practice Pack. Their verdict: “The mock exams in the premium pack are incredibly close to the real thing, both in format and difficulty. I did all the mocks, reviewed each one thoroughly, and it made exam day feel like just another practice session.”

Another candidate reported passing CFA Level 1 in the 90th percentile by doing only curriculum questions three times, without a single mock exam. And a preparation strategy post from a candidate who scored in the 90th percentile specifically emphasized: “I used Kaplan Schweser and CFAI material exclusively. I gave 8 full CFAI mock exams in exam conditions and used the CFAI practice pack. It is worth every penny.”

A candidate who passed all three levels in one go using zero paid resources beyond Schweser notes recommended a layered approach: “Nothing beats CFA official questions, and the examples within the LES. They are the truest representation of what is tested on the exam.” That candidate solved the entire official question bank twice.

The trade-off is time. The CFAI curriculum is comprehensive but dense. One working professional described the challenge: “I opened quant and said, ‘Wow, there’s no way I can read all of these in two months!’” When asked whether CFA materials alone suffice, a candidate who passed all levels advised: “If you have time, no need to buy. Your summary from the CFA materials should be enough to pass.” But they acknowledged: “100% only that it would take you more time.”

A balanced perspective from a candidate who passed all three levels recommended: “For Level 1, I’d read the prep provider’s notes to move faster through the topics. I wouldn’t dive into the CFA Materials unless you have time and actually enjoy it.” But they emphasized the official QBank: “I’d practice all the questions from the CFA online QB, especially the EOC questions, and avoid relying too much on the prep provider’s question bank since the CFA already provides a vast amount of questions.”

The bottom line: CFA Institute materials are the closest to the real exam, and the LES questions plus Premium Practice Pack should be part of every candidate’s preparation regardless of which third-party provider they choose.

What role do question banks and mock exams play in CFA Level 1 prep?

Question banks and mock exams are the most impactful study materials for CFA Level 1. Across dozens of success stories, the consistent pattern is that candidates who prioritize practice questions outperform those who focus primarily on reading or watching lectures.

One commenter captured the community consensus: “Q bank and mocks were probably the most effective part of studying.” An accountant who passed Level 1 offered direct advice: “Do the questions early and often! If you’re just reading through all the material, the studying isn’t dynamic. Work through questions, make notes about what came easy and what wasn’t so simple.” A charterholder who passed all three levels distilled it further: “I probably spent less than 30% of my studying time reading / watching videos.”

A 90th-percentile scorer recommended aiming for at least 2,000 MCQs and 7 mock exams. Another candidate who scored 1,790 on their first attempt created Anki flashcards from every CFAI practice question, using spaced repetition to ensure consistent review across all topics. A no-BS guide from a 90th-percentile scorer stated: “70% of your learning time should be spent on Practice Problems.”

For a detailed comparison of every major question bank provider, including Kaplan Schweser, Mark Meldrum, Salt Solutions, UWorld, AnalystPrep, and Adaptilyst, see our CFA Level 1 question bank comparison. The key takeaways for building your materials stack:

• CFA Institute LES and mocks are essential regardless of your third-party provider. As one candidate put it: “Prioritize the CFAI QBank, it’s the closest representation of how the exam actually asks questions.”
• Salt Solutions offers mock exams calibrated intentionally above exam difficulty. Candidates scoring 70-71% on Salt mocks have passed Level 1 comfortably, with one commenter confirming they are “slightly difficult than the CFAI ones.”
• UWorld is praised for explanation quality. One candidate who passed Level 1 using “every question in UWorld’s QBank” without reading a single page of the textbook found it sufficient for the exam.
• Kaplan Schweser QBank receives polarized reviews: some candidates love it for building foundational knowledge; others find it too easy compared to the real exam. The consensus is it works well for Level 1 specifically.
• Adaptilyst uses adaptive technology that routes questions to your weakest areas automatically, making study sessions more efficient as the exam approaches. At $49/month, it is the most accessible option for targeted practice.

The most effective mock exam strategy, based on candidate feedback, is to start your first mock four to six weeks before the exam and take one per week under timed conditions. A 90th-percentile scorer described this approach: “I gave my first mock 1.5 months before the exam and gave a mock every week, recording my progress and improving.” Another candidate who passed in February 2026 wished they had started even earlier: “I did my first mock about 3 weeks out. I wish I had done one even earlier to calibrate my pace and identify weak spots sooner.”

Which supplementary resources fill the gaps in CFA Level 1 study materials?

Beyond the major providers, several supplementary resources appear regularly in successful candidate strategies.

PrepNuggets offers animated overview videos that cover CFA Level 1 concepts at a high level. A candidate who scored in the 90th percentile called PrepNuggets “hands down the best review resource. Amazing, to-the-point videos that cover all important concepts tested.” Another candidate who scored 1,785 described starting their preparation with PrepNuggets: “I bought PrepNuggets and watched all the cartoons they had about CFA Level 1. After that, I bought the Kaplan Q bank and hammered the 3,000-plus questions available.”

IFT (Irfanullah Financial Training) provides both free and paid video content. A candidate who scored 1,790 on their first attempt used IFT videos as their sole learning resource alongside CFAI practice questions. Several candidates recommend IFT’s high-yield notes for last-minute revision.

AI tools are increasingly part of CFA preparation strategies. A February 2026 passer described using Deepseek AI to “generate detailed summaries for each topic area,” then reviewing those summaries alongside self-written mind maps. Another candidate described “interacting with ChatGPT, trying to apply theoretical concepts to real world examples” as part of their study process. A Level 2 passer credited Grok and ChatGPT for helping them “brainstorm concepts, reverse-engineer formulas, and simulate edge-case scenarios.”

However, the community is divided on AI reliability. One commenter warned: “The tech will literally make stuff up based on what it thinks the answer should be.” Another noted: “I studied a LOT with chatgpt only to realise that it so unreliable.” The consensus is that AI tools work well for generating explanations and simplifying complex concepts but should not replace structured practice with exam-calibrated questions. As one user summarized: “Once you go through the reading, tutorials and practice bank, that’s when ChatGPT shines.”

Anki and spaced repetition tools appear in multiple success strategies. One candidate combined CFAI LES flashcards with Anki and “nailed it.” Another candidate who scored 1,790 on their first attempt created Anki flashcards from every CFA practice question and credited spaced repetition as the single most important factor in their success. A 90th-percentile scorer who studied just 220 hours recommended organizing study sessions around the “GOAT ME” memory framework: generate and test, organize, avoid illusions of learning, take breaks, match conditions, and elaborate.

Free YouTube content fills gaps at zero cost. Mark Meldrum offers some free content, Khan Academy’s “Finance and Capital Markets” playlist provides foundational knowledge for non-finance candidates, and various educators post topic-specific explainers. For candidates on tight budgets, one r/CFA commenter advised: “If you have time, no need to buy. Your summary from the CFA materials should be enough to pass.”

How should you build your CFA Level 1 study materials stack?

The right combination depends on your learning style, budget, and available study time. Here are four proven stacks based on real candidate outcomes.

The comprehensive stack (for candidates who want maximum coverage):

• Mark Meldrum video lectures for primary learning
• Kaplan Schweser notes for revision and quick reference
• CFAI LES questions and Premium Practice Pack for exam simulation
• Cost: approximately $800 to $1,000 total

This is the combination used by the engineering graduate who passed Levels 1 and 2 in the 90th percentile. It covers learning (MM videos), revision (Schweser notes), and practice (CFAI questions) with minimal gaps. One commenter captured why it works: “MM’s videos + Schwezer Notes + CFAI LES = best combination ever.”

The focused stack (for candidates who prefer one primary provider):

• Mark Meldrum or Kaplan Schweser as sole third-party provider
• CFAI LES questions and at least two official mocks
• Cost: $379 to $600 total

Multiple candidates have passed above the 90th percentile using a single third-party provider plus CFAI official materials. One candidate who went Kaplan-only for all three levels and “never opened the curriculum” passed all on first attempts. Another who relied exclusively on Mark Meldrum material for all three levels scored 90th percentile on Levels 1 and 2. The key is thorough review of practice questions rather than spreading across many resources.

The budget stack (for cost-conscious candidates):

• CFA Institute official curriculum and LES questions (included with registration)
• Free content: Let Me Explain, IFT free videos, Khan Academy for foundations
• Adaptilyst for adaptive practice at $49/month
• Cost: under $200 for a three-to-six-month preparation cycle

A CFA charterholder who earned the designation through pure self-study confirmed: “Schweser + CFAI questions are enough. Please don’t waste money on coaching for L1.” For candidates without even Schweser, the CFAI curriculum plus free YouTube content from LME or IFT and a low-cost question bank can work if study time is ample.

The efficiency stack (for candidates with limited study time):

• Kaplan Schweser notes for fast curriculum coverage
• Adaptilyst for targeted practice that adapts to weaknesses
• CFAI Premium Practice Pack for final mock exams
• Cost: approximately $500 to $700 total

This stack is designed for working professionals who need to maximize learning per study hour. Schweser condenses the curriculum for faster first passes. Adaptilyst’s adaptive routing ensures practice time targets genuine weak spots rather than topics already mastered. One charterholder who studied while working full time and raising a baby advised: “Never miss a day even if it’s 20 minutes.”

Regardless of which stack you choose, two principles hold across every successful candidate story. First, consistency matters more than the specific provider. Second, always complete the CFA Institute official questions before sitting the exam. As a candidate who passed all levels summarized: “Nothing beats CFA official questions. They are the truest representation of what is tested on the exam.”

How should you approach the study process itself for CFA Level 1?

Beyond choosing the right materials, how you study matters as much as what you study. Several experienced candidates shared process-level insights that apply regardless of your provider choice.

Active recall over passive reading. A widely-shared post titled “The Fatal Mistake CFA Candidates Make While Studying” argued that the biggest trap is confusing recognition with mastery: “You see a concept, definition or formula. It looks familiar and ‘sort of’ makes sense. You nod. You move on. In that moment, you believe you know it. But you don’t.” The remedy is active retrieval: writing formulas from memory, explaining concepts aloud, and stress-testing knowledge through timed quizzes.

Optimize for passing, not learning for its own sake. A thought-provoking post titled “Controversial Approach to CFA Exam Preparation” argued: “If you want to pass the CFA exams, you need to stop learning and start optimizing. Your only objective should be to maximize your exam score.” While the community debated this stance, the core advice resonated: don’t go down rabbit holes on obscure details when exam day rewards breadth, recall under pressure, and efficient time management.

Start mocks early and use them diagnostically. A 90th-percentile scorer started mocks six weeks before the exam, even before completing all readings: “I gave my first mock 1.5 months before the exam and gave a mock every week, recording my progress and improving.” Between mocks, they focused revision on their weakest scoring topics and used cumulative question practice mixing multiple subjects daily.

Track your errors systematically. One candidate who passed all levels on first tries maintained an error log in a Google Sheet: “Keep track of all the answers I got wrong so you can go back and redo them. I even flagged problems which I got right, but which took me more time than usual to solve.” A 90th-percentile scorer took a similar approach by creating an “Ethics Wall” of post-it notes documenting every mistake, which they revised daily.

Ethics requires special attention. Multiple candidates who scored poorly on ethics initially improved dramatically through dedicated daily practice. The 90th-percentile scorer who created the Ethics Wall started at 50% and improved to 90%. Several successful candidates recommend reading ethics from the official CFAI curriculum rather than third-party notes: “The only time I opened CFAI was during L1 to read ethics.”