FreeFellow vs AnalystPrep CFA Level I: Honest 2026 Comparison
AnalystPrep is the budget favorite in CFA prep. On r/CFA and 300Hours, it is the name that comes up when a candidate wants a solid question bank without paying premium-provider money. It bundles study notes, video lessons, a deep question bank, and mock exams at a price well below the big names, and the lifetime Unlimited option is genuinely good value for anyone planning to sit all three levels.
I sat for all three CFA levels while working full time as an actuary, and I built FreeFellow because I thought the entire question bank should be free, not gated behind even a budget paywall. This post is a straight side-by-side of FreeFellow and AnalystPrep for CFA Level I in 2026. AnalystPrep is the closest competitor to FreeFellow on price, so this is the comparison where I have to be the most honest, and I call out the places where AnalystPrep is the better buy.
Disclosure up front: I am the founder of FreeFellow. The post is self-interested. I tried to be even-handed anyway.
What Each Provider Offers
AnalystPrep CFA Level I (2026)
AnalystPrep prices CFA prep per level, with a lifetime all-levels option (AnalystPrep, 2026 pricing as published on analystprep.com/pricing):
- Practice Package: around $349 per level, 12-month access. Question bank, computer-based mock exams, and performance tracking.
- Learn plus Practice Package: around $499 per level, 12-month access. Adds video lessons, study notes, and review summaries.
- Unlimited: around $799, lifetime access across all three levels. Everything in Learn plus Practice for Levels I, II, and III, plus ask-a-tutor and free annual curriculum updates.
A lower-priced question-bank-only tier is also available. What you get is a well-rounded budget package: video lessons, written study notes, a deep question bank, and full mock exams, with the Unlimited tier offering strong value for anyone committed to the whole charter.
FreeFellow CFA Level I (2026)
FreeFellow has two tiers:
- Free: $0. 1,499 practice questions across all 10 topics, 102 written lessons each with AI-narrated audio, a formula sheet, mixed practice, readiness scoring, and detailed step-by-step solutions. No trial, no question cap, no credit card.
- Fellow: $59 per quarter or $149 per year per track. Adds timed full-length mock exams, SM-2 spaced-repetition flashcards, performance analytics with topic-level breakdowns, and a personalized study plan keyed to your exam date.
FreeFellow is a CFA Institute Prep Provider. Like every Prep Provider, we are independent of CFA Institute and do not promise a passing score.
Side-by-Side Comparison
| Feature | FreeFellow Free | FreeFellow Fellow | AnalystPrep |
|---|---|---|---|
| Price | $0 | $149/yr per track | ~$349 to $499/level or $799 lifetime |
| Browse the full bank free | Yes, all 1,499 | Yes | No, paywalled |
| Practice questions (Level I) | 1,499 | 1,499 | Large bank, paywalled |
| Written lessons | 102 with audio | 102 with audio | Study notes (paid) |
| Video lectures | None | None | Included (paid tiers) |
| Mock exams | None | Multiple, timed | Included |
| Flashcards | None | SM-2 spaced repetition | None |
| Analytics | Readiness score | Topic-level plus trends | Performance tracking |
| Study plan | Manual | Personalized | Self-directed |
| Ask-a-tutor | No | No | Yes (higher tiers) |
| Access | Free tier never expires | Annual or quarterly | 12-month or lifetime |
AnalystPrep adds video lessons, ask-a-tutor support, and a lifetime all-levels bundle. FreeFellow gives the entire question bank away free with no trial, and the recurring Fellow tier is cheaper over a multi-year journey. The two solve different problems: AnalystPrep is the best-value paid bundle, FreeFellow is the free option.
Where AnalystPrep Is Genuinely Better
This is the comparison where the honest version matters most, so let me name what AnalystPrep does well.
Video lessons
AnalystPrep includes video lessons in its Learn plus Practice and Unlimited tiers. FreeFellow has audio narration on every lesson but no video. If you learn best watching an instructor work through quantitative methods or derivatives on screen, AnalystPrep has something FreeFellow does not.
Lifetime access
The Unlimited package is a one-time purchase, around $799, that covers all three levels for life with annual curriculum updates. For a candidate who plans to take all three levels over several years, that is real value and removes any renewal decision. FreeFellow paid tier is recurring; the free tier never expires, but the Fellow features renew each year.
Ask-a-tutor
Higher AnalystPrep tiers let you ask a tutor questions. FreeFellow has no human tutor channel. If you want a person to clarify a concept, AnalystPrep offers that and FreeFellow does not.
An established budget track record
AnalystPrep has been the go-to budget recommendation on r/CFA and 300Hours for years. That community knowledge and the established workflow are real assets. FreeFellow is newer.
One bundle across all three levels
If you know you are committing to the full charter, the $799 lifetime Unlimited bundle is a clean single decision. FreeFellow per-track annual pricing is cheaper over three years but is a recurring choice rather than one purchase.
Where FreeFellow Is Genuinely Better
The entire question bank is free
This is the core difference. FreeFellow gives you all 1,499 CFA Level I questions, with detailed solutions, for $0, with no trial period, no question cap, and no credit card. AnalystPrep question bank, like every paid provider, sits behind a paywall that starts in the low hundreds. If you want to start drilling real questions today before spending anything, FreeFellow is the only one of the two you can use for free.
Free lessons with audio
FreeFellow 102 written lessons, each with AI-narrated audio, are free. You can study a full topic, or listen to a lesson on a commute, without paying. AnalystPrep study notes and video lessons are in its paid tiers.
Cheaper over a multi-year journey
This is the part most candidates miss. AnalystPrep Unlimited is around $799 once. FreeFellow Fellow is $149 per year per track. Over a typical three-year run at all three CFA levels, FreeFellow Fellow runs about $447, which is less than the $799 lifetime bundle, and the free tier is $0 the whole time. AnalystPrep wins on lifetime simplicity; FreeFellow wins on total cost.
Adaptive practice and granular analytics
FreeFellow quiz engine targets your weakest topics automatically, and the analytics break down accuracy by topic, by Learning Outcome Statement, and by difficulty band. AnalystPrep tracks performance too, but the adaptive targeting and the per-Learning-Outcome view are more granular on FreeFellow.
Mobile-first design
FreeFellow was built for phone and tablet study, with audio lessons for hands-free review. AnalystPrep is usable on mobile but is built desktop-first.
Honest about the gaps
FreeFellow has no video lessons and no human tutor. We say so. We do not pretend audio narration replaces video for everyone, and if video instruction is what you need, we point you to providers who have it. That candor should factor into the decision.
What Each Costs Over the Full Charter
CFA Institute estimates about 300 hours of study per level. Here is the cost over all three levels.
| Strategy | Total Cost (all 3 levels) | Notes |
|---|---|---|
| AnalystPrep Unlimited | ~$799 once | Lifetime, all 3 levels, video plus tutor |
| AnalystPrep per level (Learn plus Practice) | ~$1,497 | About $499 times 3, 12-month access each |
| FreeFellow Fellow | ~$447 | About $149 per year for three years |
| FreeFellow Free | $0 | Question bank, lessons, readiness |
AnalystPrep Unlimited at $799 is genuinely good value for a paid product. FreeFellow free tier is $0, and the Fellow tier is cheaper still over three years, with the trade-off being no video and no tutor.
Recommendation by Candidate Type
Out-of-pocket candidate who wants to start free
FreeFellow free plus the CFA Institute curriculum. Drill all 1,499 questions, read the lessons, and watch the readiness score. Add Fellow ($149) when you want mocks and a study plan. Total beyond CFA Institute fees: $0 to $149.
Candidate who learns best from video
AnalystPrep Learn plus Practice or Unlimited. The video lessons are the thing FreeFellow does not have. Supplement with FreeFellow free for extra question volume at no cost.
Candidate committing to all three levels up front
A close call. AnalystPrep Unlimited ($799 lifetime) is one clean purchase with video and tutor support. FreeFellow Fellow (about $447 over three years) is cheaper and adds adaptive analytics and a study plan, but renews annually and has no video. Decide on whether video and lifetime simplicity are worth the extra few hundred dollars to you.
Repeat taker who knows the material
FreeFellow Fellow. You do not need another teaching surface. You need question volume, timed mock simulation, and analytics to find the gaps. The free bank plus Fellow analytics is built for exactly that.
Candidate who wants a human to answer questions
AnalystPrep. The ask-a-tutor channel is something FreeFellow does not offer.
Paying for a tier you will not finish is worse than using a free tier fully. If you are not sure you will use video lessons, start with FreeFellow free and add what you actually need later.
What Reddit and 300Hours Say
Anecdata, but useful. The recurring patterns on AnalystPrep over the last 18 months:
- "AnalystPrep is the best value if you do not want to pay Schweser prices." (consistent)
- "The question bank is solid and the explanations are clear." (positive)
- "Video lessons are decent, not as deep as Mark Meldrum." (mixed)
- "The lifetime Unlimited bundle is worth it if you are doing all three levels." (positive)
For FreeFellow, the feedback I have seen is positive on free question volume and analytics, with the honest note that we have no video and no tutor.
The broader pattern holds across both: candidates who pass tend to do 2,000 to 3,000 practice questions and 3 to 4 full mocks. CFA Level I pass rates have hovered around 43% in recent sittings (CFA Institute). Where the questions come from matters less than the volume and the consistency.
What I Would Pick If I Were Sitting Today
I would start on FreeFellow free, drill the full question bank, and read the lessons. If I wanted mocks, flashcards, and a study plan, I would add Fellow for $149. If I found I needed video on a specific tough topic, I would consider a targeted AnalystPrep purchase rather than committing to a full bundle.
If I knew up front that I wanted video instruction across all three levels and leaned toward one lifetime purchase over an annual decision, AnalystPrep Unlimited at $799 is a reasonable buy, and I would still pull in FreeFellow free for extra question volume.
There is no single right answer. AnalystPrep is a genuinely good budget product. FreeFellow is free. Pick the one you will actually use end to end.
Start Today
FreeFellow's CFA Level I practice page is open with all 1,499 questions and 102 lessons free. No signup required to browse. The Fellow tier (mocks, flashcards, analytics, study plan) is on the pricing page.
FreeFellow LLC is a CFA Institute Prep Provider. CFA Institute does not endorse, promote, or warrant the accuracy or quality of products or services offered by FreeFellow LLC. CFA Institute, CFA, and Chartered Financial Analyst are trademarks owned by CFA Institute. AnalystPrep is a trademark of its respective owner and is named here for identification and comparison only.