Which CFA prep providers are approved by CFA Institute

The five providers we compare

Here is how the five providers we cover appeared in CFA Institute's directory on 28 Oct 2026.

Checked on 28 Oct 2026 against CFA Institute's directory. Listings and labels may change.

What the Approved label means

Introduced in 2026, the Approved label recognises providers meeting additional conditions. Under the 2027 agreement, a provider must have participated for at least five consecutive years, comply fully with the agreement and have at least one CFA charterholder for every five instructors teaching the CFA Program. Separate instructor conditions apply to CIPM and the Sustainable Investing Certificate.

On 28 Oct 2026, CFA Institute's directory listed 55 providers across its programmes, including 51 for the CFA Program, with 18 carrying the Approved label.

The label measures time and compliance in the programme, alongside a staffing requirement, rather than teaching quality. The directory doesn't explain which requirement a provider without the label has not met.

You may still see the old name, the Approved Prep Provider Program. The agreement bars providers from using that former name, and only providers that qualify for the new label may call themselves Approved.

What the programme is, and isn't

Participation in the CFA Institute Prep Provider Program is voluntary and subject to acceptance. Providers sign an agreement covering their materials, advertising and use of CFA Institute content. CFA Institute describes it as a set of best-practice principles for providers. It isn't a grading system for course quality.

For the 2027 curriculum year, providers pay a revenue-based annual fee ranging from US$3,100 to US$163,700. It's a licence with rules attached, not a league table.

The agreement says a directory listing "does not constitute any form of 'seal of approval'". CFA Institute endorses no course and doesn't verify providers' results or other marketing claims.

What the rules mean for you

Participating providers must keep materials aligned with the current curriculum and exam, with annual reviews and updates, and only listed providers may use CFA Institute's Learning Outcome Statements in their materials. The programme also requires them to collect candidate feedback, advertise fairly and never ask candidates for exam questions after the exam.

Questions and mock exams. A provider's question bank must contain its own questions, not questions from CFA Institute's mocks or end-of-reading questions. Advertised totals must count unique original questions, so check exactly what the package includes.

Pass rates and exam claims. Providers cannot advertise pass rates for their own customers, promise you'll pass or claim privileged access to exam questions and topics. They may cite CFA Institute's worldwide pass rates instead; see our CFA pass rates guide.

Study time. Providers must describe preparation time realistically. The agreement uses an average of 300 hours per level as an example, and CFA Institute tells candidates to be wary of any estimate under 300 hours. Our study hours guide can help you plan.

Tutors. Providers must disclose instructors' qualifications, experience and charterholder status, and cannot claim their tutors worked for CFA Institute as exam writers or graders.

How to check a provider

Use CFA Institute's directory to search a provider's full name and filter by programme, level, region or Approved status. If a provider isn't listed, it isn't a CFA Institute Prep Provider.

Before buying, ask whether every exam topic is covered, how many original questions and mocks are included, whether tutors' biographies are available, how quickly questions are answered and how the course targets weak areas.

For the actual choice, compare package prices and providers side by side, or try our matching quiz. If you're unsure whether to buy a course, read whether you need a prep provider.

Sources

• CFA Institute Prep Providers (directory and candidate tips), CFA Institute, read 28 Oct 2026.
• CFA Institute Prep Provider Program, CFA Institute, read 28 Oct 2026.
• CFA Institute Prep Provider Program Agreement for Curriculum Year 2027 (PDF), CFA Institute, read 28 Oct 2026.

PrepProviders research. Published 28 Oct 2026.