Issues to Consider If You’re Thinking about a Prep Product
Some candidates may benefit from using preparatory products or services, but these materials should be used as a supplement, not a substitute, for study of the CFA Program curriculum. As you review the options to select the preparation technique that may work best for you, take time to look at the issues to consider when selecting a prep provider. There are many providers of all types and sizes in the marketplace. You want to select the right preparatory tool for you.
1. CFA Institute does not partner with any preparatory provider and does not endorse, promote, review, or warrant the accuracy of the products or services offered by preparatory providers. This includes those products and services offered by CFA Institute societies and non-affiliated organizations. CFA Institute developed the Prep Provider Guidelines Program for providers who develop their own preparatory products and/or services. Participating providers recognize the importance to candidates of understanding the CFA Program curriculum and voluntarily adhere to guidelines and high standards of communication. Look for the "Follows CFA Institute Prep Provider Guidelines" tagline on supplemental preparatory products to identify participating providers. And remember that a candidate’s best source of information on the CFA Program is always CFA Institute.
2. Some preparatory providers recommend or even encourage candidates to study for the CFA exam without using the CFA Program curriculum. While preparatory products can be helpful supplements to the CFA Program curriculum, they should never be used as a substitute for careful study of the prescribed curriculum. Prep Provider Guidelines Program participants agree to reinforce the value and importance of the CFA Program curriculum in effectively preparing for the exam and to convey the role of their preparatory products as supplementary tools to complement the prescribed curriculum.
3. Many preparatory providers employ former CFA exam graders, question writers, and other individuals formerly affiliated with CFA Institute — but they are contractually bound not to advertise that affiliation. Prep Provider Guidelines Program participants agree that they will not use an instructor's past affiliation with CFA Institute — either as an exam grader, question writer, or an employee — when advertising their products. CFA Institute imposes this restriction to prevent any appearance of special influence or insight into the CFA exams. Candidates should carefully evaluate the experience and qualifications of all preparatory course instructors and authors.
4. CFA Institute makes available pass rate analysis reporting to member societies and prep providers who participate in the Prep Provider Guidelines Program — but participating providers and societies are contractually bound not to advertise those pass/fail rates. If Prep Provider Guidelines Program participants provide a list of candidate numbers, CFA Institute provides statistical reports on how well the group of candidates performed in all topic areas. The statistics are for the group only — individual candidate information is not disclosed. Participating providers contractually agree to use this information for the sole purpose of improving their preparatory products and services and are not allowed to use these figures for advertising purposes.