Active Learning for the CFA Program

Build the foundation. Don’t just memorize it.

Passing the CFA exams requires more than just logging study hours—it demands a shift in how you learn. The candidates who go on to thrive in high-performance investment careers do more than grind practice questions or memorize formulas. They build the kind of strategic thinking and professional judgment the curriculum was designed to foster.

This page is about how to learn deeply, not just pass quickly. The techniques I use with clients take longer—but they build lasting skills that compound over a lifetime.

From Passive to Active: Why It Matters

Most CFA candidates fall into the passive learning trap:

  • Rewatching prep videos

  • Memorizing someone else’s flashcards

  • Cycling through mock exams without reviewing mistakes properly

  • Attempting Blue Box and end-of-chapter questions without reading the relevant curriculum

  • Highlighting LOS summaries but never truly engaging

These methods are common, but shallow. They don’t help under exam-day pressure. They don’t build confidence. And they certainly don’t prepare you for complex buy-side roles where you must explain, defend, and act under uncertainty.

The Feynman Technique: Say It Back in Your Own Words

In my private sessions, I use the Feynman technique as a core tool. I’ll ask you questions drawn from the official curriculum—but I won’t be looking for a canned answer. Instead, you’ll be asked to explain it back to me in your own words.

Why does this formula work?
What’s the intuition behind this model?
How would you explain this concept to a client or a junior analyst?

This method exposes gaps in your understanding. It forces you to clarify, not just repeat. And once you can explain a concept clearly—especially using the language of the curriculum—you own it. That will become valuable when you have conversations with colleagues, clients, and even in television interviews.

Zettelkasten (Slip Box): Crafting Your Own Flashcards

You won’t find prefab flashcards in my system. Instead, I teach candidates how to create their own Zettelkasten, or slip box—a method that combines concise note-taking with deep idea-linking.

Here’s how it works:

  1. Write atomic cards—each with one concept, not a chapter summary

  2. Use your own words to rewrite formulas, relationships, and insights

  3. Add references to CFA curriculum page numbers, LOS tags, or examples

  4. Link cards together—for example, connect a risk management technique to a specific portfolio objective

  5. Review them actively, not passively—test yourself regularly by covering the back or reconstructing the logic chain from scratch

It’s more work up front. But it turns studying into thinking. Over time, you build not just a flashcard deck—but a mental map of the curriculum. I personally use the powerful Zettelkasten method now; even after 30 years in the CFA education business, you can teach an old dog new tricks!

This Is Not Supposed to Be Easy

The CFA Program is deliberately hard. So is buy-side investment management. You will be tested on your ability to:

  • Synthesize information

  • Make decisions under pressure

  • Spot inconsistencies

  • Communicate clearly and confidently

That’s why the shortcut mentality is so dangerous. It gives you the illusion of preparation while leaving you vulnerable when it matters most.

The techniques I teach are harder. They take more time. But they prepare you not just to pass the exam—but to succeed after it.

Learning to Think Like a Level III Examiner

At Level III, passive prep methods fail even faster. You can't memorize your way through the constructed response section. Success depends on your ability to anticipate fair, curriculum-linked questions and respond with precision, using curriculum-grounded language that resonates with graders.

I teach candidates how to think like a CFA Institute exam writer. That means:

  • Identifying patterns in how LOS and command words are tested

  • Recognizing where curriculum depth invites natural essay questions

  • Practicing targeted, concise responses that directly answer the command word

  • Embedding curriculum terminology and key phrasing to trigger recognition with graders

  • Avoiding irrelevant explanations, excessive qualifiers, or vague generalizations

Constructed response writing is a skill that can be learned. With practice, your answers become tighter, more structured, and far more aligned with what the exam rewards.

This is not about gaming the system. It’s about understanding how to meet the expectations of a serious professional credential. I help candidates move from merely knowing the content to expressing it in a way that earns points and builds confidence.

Build the Right Foundation Now

You don’t get a second chance to build a solid foundation. Whether you’re aiming to pass the CFA exams, pivot into research, or step up inside your firm, your learning style will either serve you or limit you.

Stop copying what everyone else is doing. Start learning like someone who plans to lead in one of the world’s most competitive yet thrilling professions.

If you're ready to think differently—and learn actively—let’s talk.