CFA® Exam Preparation – FAQs

CFA® Program Information

The Chartered Financial Analyst® (CFA) Program is a globally recognised standard for professionals in the financial services industry. The CFA charter is given by the CFA Institute. The first charter was awarded in 1963; the program is over 50 years old.

For more information, please visit www.cfainstitute.org. Kaplan Schweser is not affiliated with the CFA Institute. Kaplan Schweser is an independent educational training firm and assists candidates in preparing for the CFA exam.

To qualify for the award of the CFA charter, the CFA Institute has the following requirements:

  1. Pass the sequence of three exams, referred to as CFA Level I, CFA Level II, and CFA Level III. These are administered once a year, during the first weekend in June. A candidate can take only one exam per year. A second CFA Level I is given the first weekend in December. You can only take the next level exam after passing the previous level exam. This means that it will take you at least three years to pass all the exams.
  2. Have a bachelor’s (or equivalent) degree, or be in the final year of your bachelor’s degree program at the time of registration, or have 4 years of professional work experience, or have a combination of professional work and tertiary experience that totals at least four years.  Part-time positions do not qualify, and the 4-year total must be accrued prior to enrolment.
  3. Fulfil the CFA Institute membership requirements, which includes membership with the CFA Institute, as well as a CFA Institute Member Society Chapter.
  4. After becoming a charterholder, the candidate must comply with the CFA Institute’s policies and other requirements.
  5. Have a valid international travel passport (required for enrolment and exam registration).

Additional details can be found here.

You can register for the CFA Program online. Contact the CFA Institute for more information.

Website: www.cfainstitute.org

Email: info@cfainstitute.org

Phone: 0011-800-8228-8820 (from Australia)

Starting from a general body of knowledge, the CFA Institute assigns a set of readings from textbooks and journal articles for different subject areas: economics, ethics, equity, corporate finance, accounting/financial statement analysis, fixed income securities, markets, portfolio management, and quantitative methods.

Each reading has a set of learning outcomes and the CFA Institute constructs these learning outcome statements to focus the candidate’s study efforts on particular topics within a particular reading.

Pass rates for the exams vary from year to year and from level to level. Visit the CFA Institute for more information.

The minimum time needed is 2.5 years; people may take longer depending on their other time commitments, such as a full time job, etc. The average time to complete the 3 exams is over 4 years. Our goal is to help you minimise this time commitment.

The CFA Institute’s Prep Provider Guidelines do not allow us to publish or communicate pass rates in any provider materials.

CFA® Exam Format

From 2021, CFA Institute transitioned all CFA exams to computer-based testing. Each exam will be offered in scheduling windows of up to ten days, depending on location. Please visit the CFA Institute website for more details.

CFA Institute moved from paper-based to computer-based testing for all levels in 2021 to provide greater exam scheduling flexibility and an exam that reflects today’s digital workplace. The new change enables the exam to be offered in 400+ locations around the world.

Additionally, the computer-based testing environment and additional dates and times available means that fewer candidates will sit for the exam at the same time, which reduces personal risk compared to the high-capacity venues used for the paper-based test.

Please visit the CFA Institute website for more details.

Registration deadlines vary for each CFA exam. Please visit the CFA Institute website for the latest exam registration information.

In the event you need to reschedule your CFA exam, you may be eligible for a deferral to another exam window, depending on your personal circumstances. You’ll first need to contact the CFA Institute or visit their website to find out what options are available to you and follow the appropriate process.

If you’ve been approved by the CFA Institute to defer your exam to another exam window, you may be eligible for an extension on your Kaplan Schweser study package. To meet eligibility requirements, your new exam window must fall in the same calendar year as your original exam. You’ll also need to provide proof of your new exam registration from the CFA Institute.

Candidates are only eligible to receive a study package extension for an exam window within the same calendar year due to the CFA curriculum changing each year.

Simply contact us on 1300 135 798 (option 1) or studentadvice@kaplan.edu.au for more information or to request an extension. A $50 fee will apply if your request to extend your study package is successful.

General Product Information

Kaplan Schweser offers both instructional and self-study packages tailored for your personal needs and budget. Self-study packages include our incomparable SchweserNotes and practice exams; instructional packages contain those study tools plus our renowned live online and on-demand expert instruction.

Candidates can purchase the following standalone products from 2021 season onward: SchweserNotes™, SchweserPro™ Qbank, Schweser’s Secret Sauce® and Online Mock Exams.

Access to online products varies by exam window:

 

Level I

2022:

  • May 2022 expires 30 June 2022
  • August 2022 expires 30 September 2022
  • November 2022 expires on 31 December 2022

 

Level II

2022:

  • August 2022 expires 30 September 2022
  • November 2022 expires on 31 December 2022

 

Level III:

2022:

  • November 2022 expires on 31 December 2022

Every year the CFA Institute announces its new curriculum. The CFA Institute adds new readings, drops old readings, and alters many of the learning outcomes associated with old readings.

This requires a complete rewrite of the previous year’s Schweser materials. Kaplan Schweser also writes new sample exams to reflect the changes in the study guide.

Because of these changes, previous editions of the Kaplan Schweser materials are not the best source of study materials. LOS revisions and additions, new readings, and the elimination of readings make relying exclusively on past year’s products for the current year’s exam problematic.

No. Kaplan Schweser rewrites all materials in their entirety each year to reflect any curriculum changes.

Kaplan Schweser’s live online classes give you access to our expert instructors – all CFA charterholders who know what it takes to succeed. Online classes are presented live and then archived so you can review them anytime, anywhere.

Our SchweserNotes™ Video Lectures cover all the topical areas of the curriculum, provide the benefits of a review course, and are an excellent solution to understanding those difficult concepts. The video lectures can be used as often as your schedule allows; start, stop, rewind, and emphasise specific areas by viewing them in any order you want. With the On Demand Video Lectures, you will simultaneously be able to:

  • Watch the video presentation with accompanying PowerPoint®
  • Pause the presentation at any time to review the LOS explanation that corresponds with the presentation.
  • To log in click here.
  • Enter your username and password.
  • Click on “Access Your Courses”.
  • Select your current study level to access your dashboard.

Log in following the instructions in the section above. On the dashboard click the “InstructorLink” icon.

(Please note: Instructor Support is only available for qualifying package orders.)

The old study calendar has been vastly improved and transformed into the activity feed on the dashboard in the new online experience. We have further integrated our products, broken down the learning tasks into bite-sized chunks, added assessments, and provided more detailed guidance and tracking through the activity feed.

Now, when you log in to the online platform, the dashboard answers two key questions: “How am I doing?” and “What do I need to do next?” The performance metrics let you know how you are performing and keeping up with all of the study tasks needed to be successful and the activity feed lets you know what to focus on next in your study plan. You can scroll through the activity feed to see all of the required tasks, filter out what you have already completed, and move through all of the Kaplan Schweser content with ease. It’s the ideal way to stay motivated and on track throughout your study program.

Yes. SchweserPro™ QBank on a Mac computer is most compatible with Firefox.

Any errors found in SchweserPro™ QBank are updated immediately. You are always seeing the most updated version of SchweserPro™ QBank.

Yes. After accessing SchweserPro™ QBank through your dashboard, you can choose offline access with a Chrome download. You will have 100% functionality of the SchweserPro™ QBank offline.

You can also sync between offline and online access, so no work within the QBank is lost. Quizzes and tests must be completed in order to be synced. Any tests that are in progress will not carry over between online and offline access.

Multiple versions of the Adobe Reader software may exist on the computer in use. As a result, the older version of Adobe Reader will automatically load when opening a PDF document.

Download a free copy of Adobe Reader. To verify that the computer in use is loading the most current Adobe Reader software, right-click on Start > Explore > Tools > Folder Options. Select the File Types Tab and verify that the PDF extension opens with the most current version of Adobe Acrobat.

If you are still experiencing errors, please uninstall and re-install the Adobe Reader software. Re-starting the computer may also be required.

SchweserPro™ requires you to have full administrative rights on your PC. If you are using a work PC, you will need to work with your IT department, as this message is typically due to a firewall problem.

You may also need to check the following: Internet Explorer > Tools > Internet Options > Connections > LAN Settings… > uncheck “Use Proxy Server…”, put in address www.schweser.com and port number 443.

If you are using a personal PC that may connect into your work’s server, please go to Internet Explorer > Tools > Internet Options > Connections > LAN Settings > make sure to check and mark “Bypass proxy server for local address”.

Kaplan Schweser is committed to your success in the CFA® Program. In the event you need a second chance, our PassProtection™ means we’ll cover the cost of replacing your study package if you need to re-sit your exam. To be eligible you must meet the following criteria:

  • Have purchased an Essential, Premium, or PremiumPlus™ study package with Kaplan Schweser
  • Have answered at least 50% of the total available online questions in your study package (e.g. QBank, Module Quizzes, Topic Quizzes, Checkpoint Exams, Mock Exams, etc). Answers must be entered into the online platform. Written answers won’t count toward your total questions answered
  • Provide written authentic documentation of your CFA exam results (Pass/Fail notification) and registration confirmation for the same level for the exam

 

If you do not meet the above criteria, you are still entitled to 50% off your same-level study package purchase. You can find more information on PassProtection™  here.

Yes, access to JumpStart study materials is available for a limited time only. If you’d like to continue using JumpStart materials after passing a CFA exam, you can save the progress you’ve made (including the work you’ve done in the QBank) by upgrading to a full study package before your access and materials expire.

Product access dates can be found in your Learning Management System (LMS).

VitalSource® Ebooks

VitalSource® is the preferred and most used ebook platform in higher education today, and the VitalSource Bookshelf® is the most advanced e-book software in the world. With VitalSource®, you get three-way access to your books: download, online, and mobile. Notes and highlights automatically stay in sync no matter where you take them (mobile requires online sync). In the library, at the computer lab, or even in a clinical setting, you can access your books when you need them — whether you brought your laptop or not.

SchweserNotes (Levels I, II, and III), Schweser’s Secret Sauce®, and Schweser’s QuickSheet are supplied as VitalSource® e-books (in addition to hard copy versions). The e-book provides access to your study materials in a digital format for use on a personal computer, Apple® mobile device (including iPad®, iPhone®, and iPod touch®), Android mobile device, and the Kindle Fire.

When you purchase a study package containing SchweserNotes, Secret Sauce®, or QuickSheet, you will get access to view the e-book versions of them online. You can also access and download them on up to two personal computers and up to two mobile devices.

Features of the SchweserNotes ebooks, Secret Sauce® ebook, and QuickSheet ebook include:

  • Electronic notes and highlighting: When you make notes and highlight sections, the changes are stored on the VitalSource® server, meaning they will be available if you access the e-book from another computer or device. Additionally, notes and highlights can be automatically synchronised between the web version of your products and your downloaded version (this requires that the computer containing your downloaded file be online). You can also share your notes and highlighted content.
  • Ability to export notes: You can copy/paste curriculum text and export your notes to a text file.
  • Advanced search function: You can search either a single volume of the SchweserNotes or every volume of the SchweserNotes for your exam level.
  • Flexible print options:  You can print up to two pages at a time.

When you purchase a study package containing an e-book product, you will receive an email with installation instructions and a unique registration code to activate your ebook. With a compatible browser, you will be able to access your ebooks via the internet at online.vitalsource.com or from a file you directly download.

Bookshelf Online Browser Support Policy

Download the VitalSource Bookshelf

The ebook version provides access to the curriculum in digital format for use on a personal computer, Apple® mobile device (including iPad®, iPhone®, and iPod touch®), Android mobile device, and the Kindle Fire. When you purchase a study package containing an ebook product, and it is assigned to your account, you will receive installation instructions and a unique registration code to activate your ebook.

Access to 2022 eBooks expires on the following dates:

  • May 2022 exam eBooks: access expires on June 30, 2022
  • August 2022 exam eBooks: access expires on September 30, 2022
  • November 2022 exam eBooks: access expires on December 31, 2022

Yes, there are some limitations to the mobile apps in comparison to the desktop version. Please see the important notes regarding your e-books on mobile devices.

  • The functionality of the mobile device app is limited in comparison to the personal computer version of the VitalSource Bookshelf® software. For example, notes and highlights are viewable, but users cannot make new notes from the app at this time. The app does, however, have search capabilities.
  • The ebooks are not optimised for mobile devices and, therefore, the text on mobile phones is very small. The app has zoom capability, but at the expense of easy navigation.
  • Use of the app will not affect your ability to download the e-book onto a personal computer. Students can download their SchweserNotes, Secret Sauce®, or QuickSheet to a maximum of two compatible mobile devices, in addition to two personal computers. Additionally, candidates can access the online version of the e-book through online.vitalsource.com from any compatible internet browser.
  • The app itself installs very quickly, but individual SchweserNotes books may take several minutes to download because of the large file sizes.
  • Users can only download their materials when WiFi access is available.

For immediate answers to common technical support issues, please review the VitalSource Video Tutorials for the answers to several common questions.

If you require further assistance, visit VitalSource Technical Support or contact the VitalSource Support line. They will connect you with a VitalSource Bookshelf® Expert who specialises in your exact question. The US-based support center is open 24/7 to accommodate your schedule.

  • PC: Latest Windows Version 6.9.2, Windows 7/8/8.1/10 (32/64 bit)
    • Microsoft .Net 4.5
    • DirectX 10 compatible graphics card
    • Internet Connection for registration and downloading of e-book
  • Mac:  Latest Mac Version 6.9, Mac OS X 10.8 or later
    • Internet Connection for registration and downloading of e-book
  • Apple: iPad, iPhone, or iPod touch using iOS 6.0 or greater
  • Android: Android 2.2–4.4
  • Kindle Fire: Kindle Fire 1, 2, HD, or HDX model

Try clicking ‘Update Book List’ in the ‘My Account’ section. If you continue to experience difficulties, please contact VitalSource Technical Support (refer to resources listed in Question 9).

Shipping Information

Shipping Method: Australia Post eParcel

  • Upon shipment, you will be emailed the eParcel tracking number so you can track your delivery.
  • Please allow 2-5 business days for delivery within Australia, depending on location order is being shipped to.
  • Please allow up to 10 business days for delivery outside Australia, depending on location order is being shipped to.

 

Please note:

We cannot guarantee the above delivery times when transportation networks are disrupted due to conditions beyond Australia Post’s control, such as weather, natural disaster, facility delays, etc. Delivery of your order may also be delayed due to national and state public holidays observed by Australia Post.

In addition, we cannot guarantee the above delivery times in the event materials go into back order. When this occurs, approximate dates for product availability will be noted on the relevant product pages.

Product Availability

Available now

  • SchweserNotes™ Books 1 -5 (ebook, printed)
  • Schweser’s QuickSheet (printed)
  • Topic Quizzes
  • Checkpoint Exams
  • Schweser’s QuickSheet (online)
  • SchweserNotes™ (online)
  • SchweserNotes Videos
  • Resource Library
  • InstructorLink
  • 7-day free trial
  • OnDemand Class
  • OnDemand Class Workbooks (online, printed)
  • SchweserPro™ QBank

 

 

  • Review Workshop Workbooks (printed, online)
  • Schweser’s Secret Sauce® (printed, ebook, online)
  • Ondemand Review Workshop
  • Online Schweser Mock Exams 5 & 6

 

July 2022

  • 3-Day Live Online Review Workshop

 

 

 

 

Note: Product availability dates are subject to change without notice.

Available now

  • SchweserNotes™ Books 1 -5 (ebook, Printed)
  • Schweser’s QuickSheet (printed)
  • Flashcard set (printed)
  • OnDemand Class
  • OnDemand Class Workbooks (online, printed)
  • OnDemand Review Workshop
  • Review Workshop Workbooks (printed, online)
  • Schweser’s Secret Sauce® (printed, ebook, online)
  • Topic Quizzes
  • Checkpoint Exams
  • Schweser’s QuickSheet (online)
  • SchweserNotes™ (online)
  • Resource Library
  • InstructorLink
  • SchweserPro™ QBank
  • SchweserNotes Videos
  • 7-day free trial
  • Flashcard set (online)

 

July 2022

  • Online Schweser Mock Exams 1-6

 

September 2022

  • 3-Day Live Online Review Workshop

 

 

 

 

Note: Product availability dates are subject to change without notice.

Available now

  • SchweserNotes™ Books 1-5 (ebook, printed)
  • Schweser’s QuickSheet (printed)
  • SchweserNotes™ (online)
  • SchweserNotes Videos
  • Topic Quizzes
  • Checkpoint exams
  • InstructorLink
  • Resource Library
  • SchweserPro™ QBank
  • OnDemand Class Workbooks (online, printed)
  • Schweser’s QuickSheet (online)
  • OnDemand Class
  • 7-day free trial
 

  • Review Workshop Workbooks (online, printed)
  • Schweser’s Secret Sauce® (printed, ebook, & online)

 

July 2022

  • 3-Day Live Online Review Workshop

 

 

 

 

Note: Product availability dates are subject to change without notice.

Available now

  • SchweserNotes™ (online)
  • Schweser’s QuickSheet (online)
  • Topic Quizzes
  • Resource Library
  • InstructorLink
  • SchweserPro™ QBank
  • SchweserNotes Videos
  • OnDemand Class Workbooks (online)
  • Checkpoint exams
  • OnDemand Class
  • 7-day free trial
  • Schweser’s Secret Sauce® (online)
 

  • OnDemand Review Workshop
  • Review Workshop Workbooks (online)

 

June 2022

  • Online Schweser Mock Exams 1-6

 

October 2022

  • 3-Day Live Online Review Workshop

 

 

 

 

Note: Product availability dates are subject to change without notice.

Available now
  • Schweser’s QuickSheet (online, printed)
  • SchweserNotes™ Books 1-5 (ebook, printed)
  • Topic Quizzes
  • SchweserNotes™ (online)
  • Resource Library
  • InstructorLink
  • SchweserPro™ QBank
  • SchweserNotes™ Videos
  • OnDemand Class Workbooks (online)
  • OnDemand Class
  • Checkpoint Exams
  • OnDemand Class Workbooks (printed)
  • 7-day free trial
  • Schweser’s Secret Sauce® (printed, ebook, & online)
  • Flashcard set (online, printed)
 

  • OnDemand Review Workshop
  • Review Workshop Workbooks (online)
  • Review Workshop Workbooks (printed)

 

September 2022

  • Online Mock Exams 1 – 6

 

October 2022

  • 3-Day Live Online Review Workshop

 

 

 

 

 

Note: Product availability dates are subject to change without notice. 

Please note there may be a delay of one (1) business day from time of purchase before online access can be granted. Product release dates for online, ebook and printed study tools vary. Product availability is correct at the time of publishing. Every effort is made to ensure the accuracy of this information, however product availability dates are subject to change without notice.

 

Printed study materials

Due to copyright restrictions and the time required for printing/shipping, hard copy study materials may not be available at the same time as online study materials. Hard copy study materials are printed in the US and shipped as soon as they are availableWe estimate you will receive your hard copy materials approximately one (1) month following their release, however they may be subject to shipping delays. We endeavour to deliver your materials to you as soon as possible.

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