Passing the CFA Level 1 exam is often described as one of the most challenging rites of passage in the finance world. With a historical pass rate hovering around 40%, candidates quickly learn that owning the official CFA Institute curriculum is necessary, but relying on it exclusively is a recipe for burnout. The official textbooks are notoriously dense, verbose, and organized in a way that can make efficient studying nearly impossible.
Enter the Kaplan Schweser CFA Level 1 book—specifically, the SchweserNotes. For over two decades, these materials have been the market leader in third-party test prep. But does the hype match the reality? Is the Kaplan Schweser book enough to pass, or do you still need the original curriculum?
In this article, we will dissect everything you need to know about the Kaplan Schweser CFA Level 1 books: what’s inside, pros and cons, how it compares to the official curriculum, pricing, and a strategic guide on how to use it to pass on your first attempt.
The Kaplan Schweser CFA Level 1 book is updated annually in July for exams in February, May, August, and November of the following year. However, the CFA curriculum changes roughly 10-15% annually.
Warning: Do not use a 2022 book for the 2025 exam. The entire Quantitative Methods section was overhauled in 2024 (Big Data, Machine Learning terms). You will be missing entire chapters. kaplan schweser cfa level 1 book
Do not just read these books like a novel. Use the following workflow for every single reading:
Step 1: The "Skyview" (5 minutes) Start with the Module Summary or the LOS. Get a feel for the structure of the chapter. Are we looking at ratios? Valuation? Ethics?
Step 2: The Deep Dive (Active Reading) Read the content, but do so actively.
Step 3: The "Concept Checkers" (Immediate Testing) Immediately after finishing a section, do the Concept Checkers. If you get one wrong, go back to that specific page in the text. This is where the learning actually happens. The Ultimate Guide to the Kaplan Schweser CFA
Step 4: The QBank (The Secret Weapon) This is the most valuable part of the Schweser package. After finishing a reading, go to the online QBank and generate a quiz for that specific reading (15–20 questions).
Again, if you only read Schweser’s 90-page ethics summary, you will fail the Ethics section. The real exam loves testing subtle distinctions between "Misconduct" and "Professionalism," which Schweser blurs.
The official curriculum reads like a law textbook (because it is one, for finance). Schweser writes in colloquial English. For non-native English speakers (who represent over 50% of CFA candidates), the Kaplan Schweser CFA Level 1 book is often the difference between passing and failing.
CFA Level 1 topics are not created equal. Here is how to attack them using the Schweser books: Part 7: Should You Buy New or Used
Heavyweight Quant Topics (FRA, Equity, Fixed Income)
Ethics (The Gatekeeper)
Quantitative Methods (The Math)