You've decided to tackle the CFA® exam. 

You register, pay the fee, and CFA Institute gives you access to the official curriculum and learning ecosystem full of study materials. You have everything you need to prepare for the exam, right? So you do what thousands of candidates do and decide to study on your own. 

It’s true that some candidates pass using only the CFA Institute materials to self-study. It keeps costs down. And either way, you're the one who has to put in the work. 

But here's what the "self-study only" mindset misses: the question isn't whether you study on your own. You will. The question is whether you're doing it with a clear plan, the right tools, and expert guidance — or whether you're navigating one of the most challenging professional exams without a map. 

Let's unpack this myth. 

Why studying in isolation can fall short 

Many CFA® candidates start out with self-study, thinking it’s the only path. They dig into the materials alone. Read and reread. Spend hours on Reddit forums and YouTube when a concept doesn't click. They tell themselves that if they can't figure it out on their own, maybe they're not cut out for this. 

The reality is that candidates who tackle their CFA® prep completely alone often find out that self-study without structure can make the journey harder than it needs to be. Here’s why: 

No structure means no clarity: Without a study plan, it's easy to misjudge how long topics will take or which areas deserve more attention. You might spend weeks on a topic you've already mastered while glossing over one that could sink your score. 

Getting stuck costs you time: Every candidate hits concepts that just won't click. Without expert support, you can spend hours wrestling with something that a five-minute explanation would clarify. That's time you can't afford to waste. 

Isolation leads to burnout: The CFA® journey is long — often three to four years from start to finish. Studying without a support system can lead to fatigue, lost motivation, and the feeling that you're in this completely alone. 

What self-study looks like with the right support 

Self-study is part of every CFA® candidate's journey. No prep course can do the work for you. But there's a big difference between studying independently and studying in isolation — without a plan, without feedback, and without support when you need it. 

This is where Meldrum's approach comes in. Rather than replacing your independent study, it gives you the structure, tools, and guidance to make every hour count. 

Here’s everything Meldrum’s Self-Study program provides: 

Structured learning materials 

The core study resources are in-depth video lessons — 240+ for Level I alone — taught by Dr. Mark Meldrum and Meldrum’s other expert CFA® instructors: 

• Reading Videos break down every Learning Outcome Statement (LOS) in the CFA® curriculum. These aren't surface-level summaries. Each video is a thorough covering of each reading, LOS by LOS. 
• End-of-Chapter Question Videos walkthrough selected practice questions from the CFA Institute books with extended explanations.
• Seminar Videos take a single difficult concept and break it down into simple steps. These are released throughout the year on a variety of topics.

Along with all the videos, students have access to handy downloadable PDF resources: 

• Lecture PDF Notes — Learning Module slides put into handy note form. This saves you countless hours of transcribing your own notes and makes it easy to annotate and study offline.
• Formula Sheet — PDF of all the critical formulas you need to know to pass.

For added convenience, Meldrum provides Mobile App Access for offline video viewing and on-the-go studying. And Reading Videos stay accessible in the My Archive portion of the app after the exam for future reference as you progress through each level. 

Practice and assessment tools 

The Question Bank (Q Bank) includes thousands of practice questions organized by topic, reading, and LOS. This helps you reinforce key concepts and target your weak areas with precision instead of guessing where to focus. 

Full-length Mock Exams simulate the real exam experience. Three mock exams per level are released about two months before your CFA® exam date. Meldrum’s mocks are delivered online and come with automatic grading so you can see immediately how you’re performing. 

Not sure why mocks matter so much? We busted that myth too → 

The Smart Study Planner 

One of the biggest challenges in CFA® prep is knowing how to allocate your time and stay on track. Meldrum's Study Planner tool solves this by letting you rate each reading by difficulty based on your own understanding. The system then calculates how many hours you need to study and adjusts your plan accordingly. 

Expert support when you need it 

Even with great materials, questions come up. With Instructor Comments, Meldrum gives you direct access to our experienced CFA® instructors. Submit your questions and get personalized feedback rather than hunting through forums for answers that may or may not be accurate. 

The Office Hour series offers live Q&A sessions with the Meldrum instructor team in the weeks leading up to your CFA® exam. These sessions give you the chance to clarify concepts and get last-minute guidance when it matters most. 

A learning path with even more support 

Self-Study is a great option for independent learners who want flexibility but still like to have structure and instructor access when stuck. But there’s another way: a course with live classes. Meldrum offers this second CFA® study path so you can choose the level of structure and support that fits how you learn best. 

The Instructor-Led Online program is designed for candidates who benefit from live instruction, accountability, and more personalized support. This study package includes everything in Self-Study, plus: 

Interactive Live Classes 

Benefit from over thirty hours of live classes led by CFA charterholders on our faculty team. These interactive sessions include immersive exercises, review notes, and practice questions tailored to each class. 

Weekly Update Videos 

In addition to the classes themselves, you also get weekly video updates with class recaps, study tips, and strategies. 

Six (6) Mentor Hours 

Our mentors are CFA charterholders who passed with Meldrum. They provide one-on-one mentoring sessions in their area of expertise to help candidates with their trouble areas. 

One-Fee-To-Pass Guarantee 

Continue studying with Meldrum (with updated content) until you pass the level you’re preparing for. This is available both for candidates with unsuccessful attempts and those who’ve deferred their exam. 

Thinking about cost? Both paths are priced competitively — often at a fraction of the cost of traditional prep providers. See current pricing and packages → 

Extras 

For candidates who want to go even deeper, Meldrum offers add-ons like Applied Analysis — a course designed to bridge the gap between CFA® exam prep and practical, real-world finance. It covers option strategies, sector analysis, and institutional-level financial modeling. 

One-on-one tutoring is also available for candidates who want additional personalized guidance on specific topics, study plans, or exam strategy. 

The bottom line 

Self-study is part of the CFA® journey, but it doesn't have to mean going it alone. 

The real question isn't whether you study independently. It's whether you do so with a clear plan, proven tools, and guidance when you need it. 

Self-study + structure + expert support = a smarter path to passing. 

Your journey is unique. Choose the path that fits how you learn best. 

What to do next 

This is the third myth we're busting. Catch up on the first two: 

• Myth #1: You need 300 hours to pass
• Myth #2: Mock exams are optional

Stay tuned for Myth #4 — You Should Start as Early as Possible. 

Explore how Meldrum provides real exam prep clarity, structure, and support for thousands of CFA candidates. 

Every candidate's journey looks different — if you'd like to talk through yours, we're just a message away.