You’ve mastered the fundamentals—now it’s time to apply them. Level II moves you beyond mere definitions and concepts, pushing you to analyze complex real-world scenarios and apply the knowledge gained at Level I. Our free, open-source guide covers all core topics for the 2025 CFA® Level 2 exam while also broadening your perspective with real-world applications, modeling examples, and deeper quantitative insight.
Focus on Vignette Mastery
Unlike Level 1’s single-topic questions, Level 2 presents item sets. Our materials emphasize rapidly extracting relevant data from vignettes, applying analytical rigor, and formulating correct conclusions—all under exam-like time constraints.
10 Volumes, Advanced Coverage
We draw on the same knowledge goals found in the “2025 CFA Program Curriculum Level II Box Set,” ensuring comprehensive coverage across major domains:
• Volume 1: Quantitative Methods
• Volume 2: Economics
• Volume 3: Corporate Issuers
• Volume 4: Financial Statement Analysis
• Volume 5: Equity Investments
• Volume 6: Fixed Income
• Volume 7: Derivatives
• Volume 8: Alternative Investments
• Volume 9: Portfolio Management
• Volume 10: Ethical and Professional Standards
Though aligned with official curriculum outlines, our resource is independently written, featuring broader applications, realistic corporate finance scenarios, and deeper dives into advanced topics like Bayesian analysis and machine learning.
High-Impact Practice Questions
Every chapter includes practice questions that challenge you to interpret, calculate, and synthesize information—perfect preparation for the item-set demands of Level 2. Build the agility needed to juggle multiple data points and assumptions effectively.
Expert Perspectives and Real-World Examples
Delve into advanced valuation, risk measurement, and strategic portfolio decisions using authentic examples. Learn how hedge funds, private equity firms, and equity managers employ these techniques, bridging theory and practice.
• Broader Than the Exam
Similar to our Level 1 guide, this resource goes beyond the standard outlines. You’ll find coding snippets for quantitative finance, tips for job interviews, and real-life use cases to deepen your analytical skills long after exam day.
• Coming Soon: Enhanced “Financial Analyst” Apps
Building on our success with “Securities Course” apps, we’re developing a new wave of learning tools to reduce your study time. Benefit from intelligent question-banks, progress tracking, and personalized study plans tailored for Level 2’s advanced scope.
• Collaborative & Open-Source
Contribute to our open-source repository, discuss advanced use cases, or refine existing material. By sharing your knowledge, you’ll sharpen your skills and enrich the entire community.
• Career-Ready Skills
Master advanced valuation and risk frameworks that translate directly into hedge fund, asset management, and equity research roles.
• Tech & Finance Synergy
With topics like advanced machine learning and analytics, our guide appeals to professionals seeking to meld data science with financial expertise.
• Practical & Thorough
Apply your knowledge in multi-step vignettes—ideal for CFOs, portfolio managers, or investment analysts requiring precise, high-level modeling.
Disclaimer:
CFA Institute does not endorse, promote, or warrant the accuracy or quality of the products or services offered by FinancialAnalystGuide. The CFA® and Chartered Financial Analyst® marks are the property of CFA Institute. Our resources are created independently to supplement your Level 2 studies and include broader themes for career readiness, quantitative modeling, and interview preparation.