Best Free CFA Study Materials in 2026

Free CFA study materials have gotten a lot better lately. In 2026 you can get full practice question banks, video lectures, flashcards, and mock exams without buying a commercial prep package. The single most useful resource for most candidates is FreeFellow: "free" is literally the first word of the brand name, and the entire CFA Level I question bank (1,499 questions) is free. The whole bank needs a free account, with no trial period or credit card requirement. Samples are open without signup. For a side-by-side breakdown of which CFA Institute Prep Providers offer a free question bank versus paid-trial-only access, see Which CFA Prep Provider Has a Free Question Bank?. This guide ranks the best free resources for CFA Level I preparation more broadly. The full original question bank is free with an account, subject to usage limits. Worked solutions, written lessons, mixed practice, and your readiness score stay free.

I passed all three CFA levels. At Level I, practice questions were the thing that moved the needle. Everything else was supplementary.

The Best Free CFA Level I Resources (Ranked)

1. FreeFellow CFA Level I Practice Questions

What it offers: 1,499 free CFA Level I practice questions across all 10 CFA Level I topics, with detailed step-by-step solutions, written lessons, mixed practice, and a readiness score. Fellow adds topic targeting outside the sample topic, detailed analytics, full flashcard decks, and timed mock exams.

Why it ranks first: The free bank covers every Level I topic with worked solutions, so you can review the reasoning behind each answer. The free readiness score tracks overall progress. Detailed topic analytics are part of Fellow.

Start practicing CFA Level I on FreeFellow

2. CFA Institute Learning Ecosystem

What it offers: CFA Institute's own Learning Ecosystem includes the full curriculum text, end-of-reading practice questions, and topic-level assessments. Included with exam registration.

Why it is essential: The end-of-reading questions are the closest thing to the actual exam. CFA Institute writes both the curriculum and the exam, so these questions match the exact style and difficulty you'll see. Do every one of them.

Limitation: No adaptive practice, limited analytics, and the interface is clunky for focused question drilling.

3. Free Video Lectures

Several instructors put out partial or full CFA Level I lecture series for free:

  • IFT (Irfanullah Financial Training) offers free Level I lecture videos covering significant curriculum sections
  • Mark Meldrum offers select free content alongside his paid platform
  • YouTube channels cover individual topics (search for specific topics like "CFA Level I Ethics" or "CFA Level I Fixed Income")

Lectures earn their keep during the initial learning phase (months 1 to 3) and on topics where reading alone doesn't land.

4. Flashcard Resources

Spaced repetition works for memorizing CFA formulas and key concepts:

  • FreeFellow flashcards offer a free preview; full spaced-repetition decks need Fellow
  • Anki decks shared by past CFA candidates (search "CFA Level I" on Anki shared decks)
  • CFA Institute's own flashcards in the learning ecosystem

5. Mock Exams

Full-length mocks under timed conditions are non-negotiable in the final 4 to 6 weeks:

  • CFA Institute mock exam (included with registration)
  • Kaplan and Salt Solutions occasionally offer free sample mocks
  • FreeFellow timed mock exams are an optional paid feature in Fellow

How to Combine Free Resources Effectively

A study plan that runs on free materials alone:

Months 1 to 3: Learning phase

  • Read the CFA Institute curriculum (included with registration)
  • Watch free video lectures for difficult topics
  • Complete end-of-reading questions after each section
  • Browse FreeFellow questions as you finish each topic; topic-targeted sessions outside the sample topic need Fellow

Months 3 to 5: Practice phase

  • Build a regular practice routine within the free usage limits
  • Keep an error log to find your weak topics; use the free readiness score to track overall progress
  • Review flashcards daily (15 to 20 minutes)
  • Start mixed-topic practice to simulate exam conditions

Month 6: Mock exam phase

  • Take one full mock exam per week (180 questions, 4.5 hours)
  • Review every wrong answer and categorize the mistake
  • Hit 70%+ on mocks consistently before exam day
  • Do targeted practice on whatever weak topics remain

If you have the budget, these add value on top of the free foundation:

None of it is required, though. FreeFellow practice questions, the CFA Institute curriculum, and free video lectures cover the full curriculum on their own.

The Bottom Line

You can start with free CFA study materials. The resources above cover the Level I curriculum with worked questions, written explanations, free videos, and flashcards. Use CFA Institute's included mocks to rehearse the exam, and review each mistake before adding more questions.

Start with free CFA Level I practice on FreeFellow. The full bank, written lessons, and readiness score are free with an account.