CFA® Level I, rebuilt for the exam.
All 93 learning modules of the 2026 curriculum, taught in the order the exam tests them: the outcome, the formula, the worked example, the trap. An interactive for every idea and a checkpoint after every lesson. Free, no account.
- Questions on exam day
- 180
- Topics
- 10
- Learning modules
- 93
See the idea move
Textbooks describe why the geometric mean is lower than the arithmetic mean. Here you drag the returns and watch the two paths split. Every lesson has one of these, built around the exact thing the exam asks.
- Actual wealth
- Growing at the arithmetic mean
- Growing at the geometric mean
USD 1 ends at 1.056. At the arithmetic mean you would expect 1.331; at the geometric mean, 1.056.
Show working
Arithmetic: (60.0% + -40.0% + 10.0%) ÷ 3 = 10.00%
Geometric: (1.600 × 0.600 × 1.100)1/3 − 1 = 1.05601/3 − 1 = 1.83%
Harmonic (on 1 + R): 3 ÷ (1/1.600 + 1/0.600 + 1/1.100) − 1 = -6.27%
Order check: harmonic ≤ geometric ≤ arithmetic.
Every lesson, the same four steps
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On the exam
The learning outcome in plain words, with its command word marked. "Calculate" means numbers will be given. "Describe" means you will need to recognize it.
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The core
Short sections that open with the answer, then the interactive, the formula card and a worked example in exam format. Depth sits in drawers you can open.
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Exam traps
The two or three mistakes question writers bait, named, so you see them coming.
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Checkpoint
Three questions in the real format, with three options each, at exam pace. Every option is explained, including why the wrong ones tempt you.
Try a checkpoint question
1A fund returns 20%, −10% and 5% over three years. Its geometric mean annual return is closest to:
Full when you are learning. Cram when the exam is close.
Full mode replaces the textbook: intuition, derivations and the reasons behind the rules. Cram mode keeps only what earns marks, so a whole module reads in 10 to 15 minutes. Switch with one click, or press C on any lesson.
- Ethical and Professional Standards 15–20%
- Financial Statement Analysis 11–14%
- Equity Investments 11–14%
- Fixed Income 11–14%
- Portfolio Management 8–12%
- Alternative Investments 7–10%
- Quantitative Methods 6–9%
- Economics 6–9%
- Corporate Issuers 6–9%
- Derivatives 5–8%
Coming next
Sensei: study out loud
A voice tutor that teaches each lesson with you, on the commute, at the gym, or when your eyes are done for the day. Interrupt whenever something doesn't click ("hang on, why does the time-weighted return ignore my deposit?") and it answers with the lesson's own example, then carries on. It quizzes you back and remembers your weak spots.
- Every lesson, spoken, in the same exam-first order
- Ask questions mid-lesson, by voice
- Spoken checkpoints that explain your mistakes
- A plan for your next session, built from what you missed
USD 199, one payment, until you pass Level I. Join the waitlist for the founding price of USD 149.
Questions
Is Analyst Dojo free?
Yes. Every lesson, interactive and checkpoint is free to use, with no account. The only paid product will be Sensei, the voice tutor, which is optional.
Is this the official CFA curriculum?
No. Analyst Dojo is an independent study guide, not affiliated with or endorsed by CFA Institute. It follows the 2026 Level I curriculum module by module and teaches each learning outcome in its own words, with its own examples and questions.
Does it cover the whole Level I exam?
It is organized around all 93 learning modules across the 10 topics. Lessons are being published module by module, starting with Quantitative Methods. The study map shows which modules are ready.
What is cram mode?
A switch on every lesson that hides the deeper explanations and leaves only what the exam tests: the outcome, the formula, the worked example, the traps and the checkpoint. A whole module reads in 10 to 15 minutes.
How do the belts work?
Each module earns a belt as you finish its lessons and checkpoints, from white to black. Your progress is saved in your browser only, so there is nothing to sign up for.