CFA Level II Exam Prep
Proven Exam Prep for Each Level of the CFA Program
CFA Level I
Level I of the CFA exam tests your knowledge and comprehension of investment tools and ethical and professional standards. Level I builds a baseline of knowledge across financial topics that will be expanded on in later levels.
CFA Level II
Level II of the CFA exam tests your application and analysis. Level II focuses on asset valuation and how you apply standards to situations that analysts face in the real world.
CFA Level III
Level III of the CFA exam requires demonstration of the same skills as Level II, but tests your ability to make and write about judgment calls. At Level III, you’ll also choose a specialized pathway directly related to your career goals.
2025-2026 CFA Level II Exam Study Packages
Choose a study package that aligns with your specific needs, learning style, and budget.
2025
2026
Basic Package
$429.00
Ultimate Package
$1,499.00
Premium Package for th...
$1,099.00
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CFA Level II Exam Prep Details
The CFA Program curriculum is dynamic and changes annually to meet the nature and complexity of the global investment profession.
Level II Exam Details
Exam Format: Computer-based, multiple-choice
Attempts Allowed: Up to six per level
Exam Windows: May, August, and November.
Topics Breakdown:
Quantitative Methods: 5–10%
Economics: 5–10%
Financial Reporting and Analysis: 10–15%
Corporate Issuers: 5–10%
Equity Valuation: 10–15%
Fixed Income: 10–15%
Derivatives: 5–10%
Alternative Investments: 5–10%
Portfolio Management: 10–15%
Ethical and Professional Standards: 10–15%
88 total questions (split into two sessions)
Session 1 & 2: 44 multiple-choice questions each (2 hours and 12 minutes per session)
Important CFA Level II Exam Dates
Find out when you need to register to sit for your CFA Level II exam.
MAY 2025
Level II Exam Dates
May 21–25, 2025
Registration and Scheduling Windows Open
August 8, 2024
Early Registration Deadline
October 16, 2024
Registration Closes
February 6, 2025
Scheduling Deadline
February 11, 2025
Rescheduling Deadline
April 14, 2025
AUGUST 2025
Level II Exam Dates
August 27–31, 2025
Registration and Scheduling Windows Open
November 6, 2024
Early Registration Deadline
January 29, 2025
Registration Closes
May 6, 2025
Scheduling Deadline
May 13, 2025
Rescheduling Deadline
July 28, 2025
NOVEMBER 2025
Level II Exam Dates
November 19–23, 2025
Registration and Scheduling Windows Open
February 12, 2025
Early Registration Deadline
April 9, 2025
Registration Closes
August 5, 2025
Scheduling Deadline
August 12, 2025
Rescheduling Deadline
November 8, 2025
The CFA Program Survey
15%
CFA Level II exam takers reported receiving a promotion after passing the Level II exam
58%
CFA Level II exam takers reported being more satisfied with their career trajectory after passing the Level II exam
30%
CFA Level II exam takers reported receiving a salary increase after passing the Level II exam
Still have questions? Talk with our CFA exam prep experts to eliminate guesswork and create your Level II study plan.
CFA Level II Exam FAQs
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Explore CFA Level II Products
More Likely to Pass: These are the findings of a quantitative survey conducted by Kaplan between June 30 and August 30, 2021. For this survey, a sample of 313 U.S. CFA Level I and Level II candidates was interviewed online. The survey was fielded to subscribers of 300Hours.com and AnalystForum.com.
PassProtection™: Terms and conditions apply. Visit www.schweser.com/cfa/pass-protection for more information.
15% Reported Receiving a Promotion After Passing the Level II Exam: Promotions are dependent on numerous factors other than, or in addition to, passing CFA® exams, including specific employment conditions and individual experience. Kaplan Schweser does not guarantee any promotions increase resulting directly from such designation. These are the findings of a quantitative survey conducted by Kaplan between May 2 and May 27, 2024. For this survey, a sample of 728 CFA Level I, II, and III candidates was interviewed online, of which 142 last passed the CFA Level II exam and were employed at the time of the survey.
58% Were More Satisfied with Their Career Trajectory After Passing the CFA Level II Exam: These are the findings of a quantitative survey conducted by Kaplan between May 2 and May 27, 2024. For this survey, a sample of 728 CFA® Level I, II, and III candidates was interviewed online, of which 150 last passed the CFA Level II exam.
30% Stated They Received a Salary Increase After Passing the CFA Level II Exam: Earnings increases are dependent on numerous factors other than, or in addition to, passing the CFA® Level II exam, including specific employment conditions and individual experience. Kaplan Schweser does not guarantee any earnings increase resulting directly from such designation. These are the findings of a quantitative survey conducted by Kaplan between May 2 and May 27, 2024. For this survey, a sample of 728 CFA Level I, II, and III candidates was interviewed online, of which 142 last passed the CFA Level II exam and were employed at the time of the survey.
Most Recommended: This is one of the findings of a quantitative survey conducted by Kaplan between April 1 and October 31, 2023. For this survey, a sample of 272 CFA Candidates were interviewed online in English. The survey was fielded to subscribers of 300Hours.com.
Most Used Online Forum Hosted by CFA Exam Prep Providers: Based on Kaplan North America research for comparable CFA exam preparation programs as of February 2023.
95% Recommendation Rate: This is one of the findings of a quantitative survey conducted by Kaplan between April 1 and October 31, 2023. For this survey, a sample of 272 CFA Candidates was interviewed online in English. The survey was fielded to subscribers of 300Hours.com.
Helped 700,000+ Candidates Prep for Exams: Net purchases of study packages containing the printed SchweserNotes™ bookset from 2008 through winter 2024 (less 2020).
Only CFA Provider Offering In-Person Mock Exams at Actual CFA Test Centers: Based on Kaplan North America research for comparable CFA exam prep providers as of June 2023.
Leader in CFA Prep: These are the findings of a quantitative survey conducted by Kaplan between June 30 and August 30, 2021. For this survey, a sample of 313 U.S. CFA Level I and Level II candidates was interviewed online. The survey was fielded to subscribers of 300Hours.com and AnalystForum.com.
Only Online Forum with Content from CFA Faculty Experts: Based on Kaplan North America research for comparable CFA exam preparation programs as of February 2023.
9 Out of 10 Students Recommend: These are the findings of a quantitative survey conducted by Kaplan between September 29 and November 4, 2022. For this survey, a sample of 838 CFA Level I, II, and III candidates was interviewed online, of which 463 prepared for a CFA exam with Kaplan Schweser.
More Level II Candidates Use Kaplan Schweser: These are the findings of a quantitative survey conducted by Kaplan between June 30 and August 30, 2021. For this survey, a sample of 313 U.S. CFA Level I and Level II candidates was interviewed online, of which 151 CFA Level II candidates answered this question. The survey was fielded to subscribers of 300Hours.com and AnalystForum.com.
Most Respected and Trusted Provider: These are the findings of a quantitative survey conducted by Kaplan between June 30 and August 30, 2021. For this survey, a sample of 313 U.S. CFA Level I and Level II candidates was interviewed online, of which 271 CFA candidates answered this question. The survey was fielded to subscribers of 300Hours.com and AnalystForum.com.
95% Who Passed Level II Used an Exam Prep Provider: These are the findings of a quantitative survey conducted by Kaplan between May 2 and May 27, 2024. For this survey, a sample of 728 CFA® Level I, II, and III candidates who were either Kaplan customers or expressed an interest in Kaplan products was interviewed online, of which 150 last passed the CFA Level II exam.
90% Who Passed Level II Believe Kaplan Schweser Played Role in Helping Them Pass: These are the findings of a quantitative survey conducted by Kaplan between May 2 and May 27, 2024. For this survey, a sample of 728 CFA® Level I, II, and III candidates was interviewed online, of which 126 last passed the CFA Level II exam and prepared for that exam with Kaplan Schweser.
Kaplan Schweser is a CFA Institute Prep Provider. Only CFA Institute Prep Providers are permitted to make use of CFA Institute copyrighted materials, which are the building blocks of the exam. We are also required to update our materials every year and this is validated by CFA Institute.
Our products and services substantially cover the relevant curriculum and exam and this is validated by CFA Institute. In our advertising, any statement about the numbers of questions in our products and services relates to unique, original, proprietary questions. CFA Institute Prep Providers are forbidden from including CFA Institute official mock exam questions or any questions other than the end of reading questions within their products and services.
CFA Institute does not endorse, promote, review, or warrant the accuracy or quality of the product and services offered by Kaplan Schweser. CFA Institute®, CFA® and "Chartered Financial Analyst®" are trademarks owned by CFA Institute.