Skip to main content

Award winning training provider

Award winning training provider

Excellent pass rates

Tutor support until late

Market leader

CFA® Program
Chartered Financial Analyst® Program

Level 2

The CFA Program curriculum is focused on ten key topics which increase in complexity at each of the three levels: ethical and professional standards, quantitative methods, economics, financial reporting and analysis, corporate finance, equity investments, fixed income, derivatives, alternative investments, portfolio management and wealth planning.

At this second level, candidates are expected to demonstrate a greater depth of understanding of the tools and techniques that were introduced in the Level 1 with a focus on the valuation of all types of assets.

All classroom courses will be delivered online until 4th March 2022
info_outline Save 10% on selected Aug & Nov 2022 study packages

local_offer Save 10% on selected August and November 2022 Classroom and Blended study packages

Book by 18th May 2022. Your saving will be applied automatically upon checkout.

local_offer  Failed with another provider? Get 50% off on us now ›

Don't worry! We'll get you back on track.

1. Structure

The level 2 exams are computer based testing. There will be two 2.25 hour sessions with an optional break in between.

Entry requirements

To register for your Level 2 exam, you need to have passed Level 1.


Below is a syllabus overview detailing each topic and their approximate exam weighting.

Level 2 topic Approximate exam weight
Ethical and Professional Standards 10-15%
Quantitative Methods for Valuation 5-10%
Economics for Valuation 5-10%
Financial Reporting and Analysis 10-15%
Corporate Finance 5-10%
Equity Investments 10-15%
Fixed Income 10-15%
Derivative Instruments - Valuation and Strategies 5-10%
Alternative Investments 5-10%
Portfolio Management and Wealth Planning 10-15%
Ethical and Professional Standards

Learn the ethical responsibilities required of CFA Institute members and candidates in the CFA Program by the Code and Standards and understand the objectives of the Research Objectivity Standards.

Following on from the previous session, you’ll use case studies to illustrate the practical application of the CFA Institute Code of Ethics and Standards of Professional Conduct (Code and Standards).

Quantitative Methods for Valuation

You’ll be introduced to correlation analysis, linear regression with one and multiple independent variables, and time-series analysis as tools for identifying relationships among variables.

Economics for Valuation

Explore currency exchange rates and understanding the equilibrium value, economic growth and the investment decision, and the economics of regulation.

Financial Reporting and Analysis
  • Intercorporate Investments, Post-Employment and ShareBased Compensation, and Multinational Operations: examine current and new reporting standards for investments in other companies, post-employment benefits, and foreign currency transactions.
  • Quality of Financial Reports and Financial Statement Analysis: focus on evaluating the quality of financial reports and applying financial analysis techniques to investment decisions.
Corporate Finance
  • Corporate Finance: covers the capital budgeting process and examines its principles and investment decision criteria. Project evaluation through the use of spreadsheet modeling is also presented.
  • Corporate Finance - Financing and Control Issues: two major organisational subjects of corporate finance are examined in detail. The first is corporate governance. The second is mergers, acquisitions, and corporate restructurings.
Equity Investments
  • Equity Valuation - Valuation Concepts: This session introduces essential equity valuation concepts. It discusses value and the application of equity valuation techniques to solve everyday problems and the return concepts.
  • Equity Valuation - Industry and Company Analysis and Discounted Dividend Valuation: focus on financial modeling including the development of forecast model inputs using available industry and corporate information.
  • Equity Valuation - Free Cash Flow and Other Valuation Models: explore additional valuation methods for estimating a company’s intrinsic value such as the free cash flow, relative valuation, residual income valuation, and the main approaches for valuing private company equity.
Fixed Income
  • Valuation Concepts: learn about the yield curve and key relationships underlying its composition, you’ll examine traditional and modern theories and models explaining the shape of the yield curve to demonstrate this.
  • Topics in Fixed-Income Analysis: this session uses the binomial valuation method to value bonds with embedded options. It discusses interest rate volatility, option-adjusted spreads and risky bonds. Credit assessment approaches and models are discussed with an introduction to the term structure of credit spreads.
Derivative Instruments - Valuation and Strategies

In this session you will be introduced to key valuation concepts and models for forward commitments (forwards, futures, swaps) and contingent claims (options).

Alternative Investments

You’ll learn about the following categories of alternative investments: real estate, private equity, and commodities.

Portfolio Management and Wealth Planning
  • Portfolio Management - Process, Asset Allocation, and Risk Management: learn about the portfolio management process and the investment policy statement, multifactor models and measuring and managing market risk.
  • Portfolio Management - Economic Analysis, Active Management, and Trading: examine the link between the economy and financial markets, describe and measure active portfolio management, algorithmic trading and high frequency trading.

Buy now

For more information, please visit the CFA Institute website launch.

2.  Study packages

Whatever your learning style, we have a study package for you.

Do you prefer structured learning? We offer classroom, live online or a blended approach. Or do you prefer self study? Then we offer a distance learning package where you can study at your own pace.

Our flexible study packages have been designed to maximise your time, keep you on track, and help you pass your exam. Whichever study package you choose, you’ll receive high quality Schweser study materials, recordings, and continuous support right up to your exam. To see which study package is best for you, please see our infographic launch.

Study methods available for this qualification

picture_as_pdf Study method comparison chart

people people

Structured teaching keeps you on track and motivated with scheduled classes.

  • Classroom tuition
  • Classroom revision
  • Schweser study material
  • Pass Protection
  • Recommended Package
excl. VAT)

Buy now

laptop people

Structured teaching keeps you on track and motivated with scheduled classes.

  • Live online tuition
  • Classroom revision
  • Schweser study material
  • Pass Protection
excl. VAT)

Buy now

Live Online

Structured teaching keeps you on track and motivated with scheduled classes.

  • Live online tuition
  • Live online revision
  • Schweser study material
  • Pass Protection
excl. VAT)

Buy now

laptop laptop
Distance Learning

Self study at your own pace and when it's convenient with OnDemand videos.

  • OnDemand tuition
  • OnDemand revision
  • Schweser study material
  • Pass Protection
View Distance Learning 5 day trial ›
(VAT not applicable)

Buy now

Or you can choose an individual revision course without the supporting Kaplan Schweser study materials.

Classroom Revision only

Classroom revision without the Kaplan Schweser study materials.

excl. VAT)

Buy now

Live Online Revision only

Live Online revision without the Kaplan Schweser study materials.

excl. VAT)

Buy now

Timetables - Classroom and Live Online

Classroom tuition courses take place over six days (from 9-5pm) or 14 evenings (from 6-9pm). Classroom revision courses take place over five days (from 9-5pm) or 10 evenings (from 6-9pm).

We offer a wide variety of classroom tuition and revision dates covering weekday, evening, and weekend options. You can also “mix and match” course dates between classroom groups, if required, in order to avoid missing a classroom date due to an unexpected commitment.

date_range View timetables

location_on Classroom location

We have classes in London:

For further information on mainland European classes, see our partner website Top Finance launch.

Optional extras

We offer a number of optional extras that can be beneficial as part of your studies:

Schweser Mock Exam 5 and 6

The Online Schweser Mock Exam is as close as you can get to the actual exam in format, difficulty, and length. With our new simulation, it will help to develop your test-taking, identify your weak areas as well as giving you a real exam experience. After the simulation, you can view answer explanations and check your score compared to those of other candidates.

(VAT not applicable)

Learn more ›

1-2-1 tutor sessions

A one hour 1-2-1 meeting with your tutor, either at our training location or online, within the last two weeks leading up to your exam. You can get your final questions answered before the exam day.

excl. VAT)
Texas BAII+ Professional Calculator

One of the recommended CFA Calculators, as well as the calculator that will be referenced in classes.

£60.00 Including UK delivery
excl. VAT)

Inhouse training

Our public classroom courses run in central London. Like many of our courses, we can also offer these courses inhouse for your team or organisation. Please contact us on 020 7920 3060 or email us at to find out more about how we can help train your team.

3. Exams, sittings and resits


The exams are computer based testing and run two to four times a year. For more information on the frequency of sittings please refer to CFA Institute launch.

Exam results are available within 60 days of the exam date. All candidates receive a “pass” or “did not pass” result as well as details as to performance per topic.

You’ll need to pass Level 1 of the CFA Program before registering for Level 2. There is no limit to the number of times you can take each exam, and you can take as much time as you need to complete the program.

How long does it take to pass?

The examining body recommends around 300 hours of study for each level in the CFA charter, although some candidates will need more or less time, depending on their individual backgrounds and experience.

It is possible to complete the CFA Program in two years but with a recommended study time of 300 hours per level, it takes most people three to four years to complete the three three levels.

What are pass rates like?

Passing Level 2 takes dedication and commitment. Of those who took the exam in June 2019 the CFA Institute reported that the global pass rate was 44%. As a prep provider, we are not able to report our own pass rates in accordance with CFA Institute guidelines.

What CFA resits are available?

We do everything we can to help you pass your CFA exam first time. However, should you need a second chance, then don’t worry. With Pass Protection, there are lots of ways we can support you as you prepare for your exam resit. For further information, please refer to our pass protection policy launch.

picture_as_pdf CFA Resit Enrolment Form 2022

Can Kaplan help if I fail an exam but studied with another provider?

If you have failed elsewhere with an approved prep provider, we'd like to help save you some money. We're pleased to be able to offer you 50% off our study packages. You'll just need to send us an invoice from your previous prep provider.

Register now for 50% off

4. Study Materials and Delivery Costs

We offer a comprehensive range of study materials to enhance your learning experience. They’ve been designed to keep you on track and stay motivated on your learning journey. These include hard copy books as well as online resources on Schweser’s study portal.

Classroom, Blended, Live Online and Distance Learning packages all come with core materials, including:

  • Getting Started Guide

    Explains how to use the resources effectively to maximise your chance of passing the exam.

  • Schweser Online Study Portal

    Includes dashboard with activity feed and performance metrics

  • Schweser Online Mock Exam 1 – 4

    Practice taking the computer-based test before exam day with the online Schweser mock exam. This realistic exam simulates the interface, format, difficulty, and length of the actual CFA exam.

  • SchweserNotes

    Clear, concise study notes and examples that cover every learning outcome statement (downloadable as eBooks as well as in print). These notes also include module quizzes and topic assessments which can demonstrate your level of mastery of a topic and where you need to focus additional attention.

  • Quicksheet

    A compact study tool summarising key formulae, definitions and concepts (available online, downloadable as an eBook as well as in print).

  • SchweserNotes videos

    Reference videos to supplement the Schweser Study Notes. For every learning outcome statement there is a short video where a tutor guides a student through the content and explains how to solve the examples.

  • SchweserPro QBank

    Thousands of online practice questions designed to assess and adapt to your understanding of the curriculum.

  • Schweser Checkpoint Exams

    Three key tests that you will be prompted to work through online during your studies. These mimic the difficulty and format of the actual exam. Performance reports then highlight your understanding and weak areas where more review is needed.

  • Schweser's Secret Sauce®

    Take this compact book anywhere you go, printed or eBook, for a concise review of the CFA Program curriculum. Secret Sauce provides insights and exam tips on how to effectively prepare and apply your knowledge on exam day.

Additional materials come with the following packages:

  • Classroom, Blended and Live Online keyboard_arrow_up keyboard_arrow_down
    • Tuition classroom recordings
    • Revision classroom recordings
    • Tuition course slides
    • Mindmaps and Q&A book
  • Distance Learning keyboard_arrow_up keyboard_arrow_down
    • OnDemand Tuition with Workbooks
    • Online Revision with Workbooks

Delivery costs

Materials are delivered to the address you provide us (and must be signed for on delivery). For detailed information on delivery prices please refer to our delivery page.

5. Kaplan Schweser online study portal

Kaplan Schweser Online portal screenshots

Kaplan Schweser’s online portal provides access to a wide variety of resources to help you prepare for your exams. It also hosts all our Live Online tuition and revision classes.

Online features

Depending on the study package you choose, features can include the following:

  • check
    View your online materials in one place and access your content in a few clicks
  • check
    Take the guesswork out of your study plan with strategically placed weekly tasks
  • check
    Track your performance against that of other candidates
  • check
    Complete tests and get instant feedback
  • check
    Access on mobile, tablet and computer

For more information on technical support available and minimum system requirements for Kaplan Schweser’s online portal, visit the Schweser portal technical support launch.

Access duration

You can access your content from 48 working hours of purchase (subject to availability) until your examination date.

6. Tutor support

We’ll support you every step of the way throughout your learning experience with us. You can contact a tutor and get the help you need within 48 working hours.

We are open weekdays (excluding bank holidays) 9:00am to 5:30pm. In addition, our classroom tutors will provide you with their personal contact details.

7. Testing and mocks

Vital to passing your exam will be attempting as many questions and mocks as possible. Depending on your chosen package, you will gain:

  • check

    SchweserPro™ QBank

    Access to thousands of questions in the SchweserPro™ QBank. Adaptive and personalised technology has taken our world-renowned QBank study tool to the next level. Question difficulty adapts to a student's ability on a given topic, measuring their knowledge and keeping them motivated as they move through the content.

  • check

    Checkpoint exams

    Three key tests that you will be prompted to work through online during your studies. These mimic the difficulty and format of the actual exam. Performance reports then highlight your understanding and weak areas where more review is needed.

  • check

    Schweser Online Mock Exam (1 – 4)

    Four practice taking the computer-based test before exam day with the online Schweser mock exam. This realistic exam simulates the interface, format, difficulty, and length of the actual CFA exam.

As well as the material included in your study package we also have another two additional Schweser mocks. These can be purchased with your study package or when you get closer to your revision stage.

Additional Schweser Online Mocks

You can now practice the computer-based test before your exam by using the Online Schweser Mock Exam. It’s a realistic exam that simulates the interface, format, difficulty, and length of the exam. It’ll help you develop your test-taking skills, identify your weak areas, and show you just how much you’ve learnt. After taking the mock exam, you can see how well you scored and compare your score to other candidates. You can review answer explanations and drill deeper into each question with the addition of our mock exam tutorial videos.

After the mock, many candidates also take the opportunity of a final 1-2-1 meeting with their tutor. You can find information about our mocks and 1-2-1s in our comparison table.

picture_as_pdf 2022 Study package comparison

8. Course pricing and funding options

Pricing structure

Below are our study package prices. The only additional costs will be delivery and if you decide to purchase any optional extras.

picture_as_pdf 2022 Study package comparison

Package Full Price (excl. VAT) Full Price (incl. VAT)
Classroom £2,424 £2,849
Blended £2,009 £2,354
Live Online £1,600 £1,870
Distance Learning £820 (VAT not applicable)
Classroom Revision Only £1,150 £1,380
Live Online Revision only £775 £930

Save 10% on August and November 2022 Classroom and Blended study packages if you book online by 18th May 2022. Your saving will be applied automatically upon checkout.

Funding options

Employer sponsored ›

Your employer may fund the costs of your studies if you’re already working in a related field and want to develop your learning. You’ll need to speak to them to see if you’re eligible and confirm that they’re happy to pay for your studies.

Payment plans ›

Our CFA packages are covered with our interest-free payment plan, providing the total cost is £500 minimum (including VAT). The plan lets you spread the cost of your studies over a period of up to 12 months, with no extra costs.

How to enrol

The quickest way to enrol is to select your course online. You can also call us on 020 7920 3060 or enrol with a form which you can download, fill out your details and email to

picture_as_pdf Download 2022 enrolment form

Why study Level 2 with Kaplan?

Over 25 years of experience

We have over 25 years of teaching experience with the largest global network of tutors who are CFA® Charterholders and know the syllabus inside out.

Flexible study options

Our study tools are flexible enough to fit around your lifestyle. From online to classroom, we give you all the support and materials you need to succeed.

Pass commitment assurance

We know the exams are tough but we’re here to help you every step of the way. Should you need a second chance we’ll put you back on track with our pass commitment.

1000s of practice questions

Get exam confident with testing at every stage of your studies, including 1000s of practice questions and mock exams that will help you feel prepared for the real exam.

Graphic showing a letter in an envelope

Sign up for course updates

keyboard_arrow_up keyboard_arrow_down

Related courses

CFA logo
CFA Level 1
Level 1

Total package:

£820 — £2,405 (inc. VAT where applicable)

CFA logo
CFA Level 3
Level 3

Total package:

£1,030 — £3,014 (inc. VAT where applicable)

*CFA Institute does not endorse, promote, or warrant the accuracy or quality of the products or services offered by Kaplan Financial. CFA Institute, CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.

Fill out my online form.