A comprehensive CFA exam prep course that provides guided streamlined, straight to the point CFA curriculum content coverage with engaging, motivating video instruction through active learning exercises and demonstrations.

This course cracks the CFA Level 2 exam code by:

  • Leveraging Prof. Gordon's 20+ years of CFA exam prep experience and insights that go way beyond simple content coverage, giving you an edge over other candidates.

  • Removing the guess work of how to study and what you really MUST study, we've done the hard work, all you have to do is follow along.

  • Eliminating the usual CFA study traps and roadblocks that lead to frustration, so you can confidently progress and actually enjoy what you are doing.

  • Building your core knowledge base quickly allowing you to focus your time on the higher payoff learning activities developed by Prof. Gordon.

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Michael Tofilis

If it weren’t for you, I don’t think I could have ever cleared this exam (within this decade). Thank you Exam Success! I’m even thanking the guy who told me ...

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If it weren’t for you, I don’t think I could have ever cleared this exam (within this decade). Thank you Exam Success! I’m even thanking the guy who told me about you. You have no idea. Cheers!

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A Real Confidence Boost

Ash Riwalda

Initially many of the formulas and concepts flew right over my head. Your explanations were clear and easy to understand....I actually get it now! The way ...

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Initially many of the formulas and concepts flew right over my head. Your explanations were clear and easy to understand....I actually get it now! The way you explained topics such as active bond management, OAS, credit models and CDS to name a few, was so much better than the curriculum. I especially liked your honest and genuine approach. The fact that its not scripted and you're not just reading power point slides to us made me feel like I was in a real classroom. I will be telling my colleagues about you.

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Student Support

Have a doubt, not sure how a solution was derived or just have a quick query that needs addressing? This exclusive feature allows students to get help directly from the Prof. "It's like raising your hand in class!"

Success Guarantee

Have peace of mind knowing if you do not pass your exam, for any reason and without any milestones, you can access the materials again at no cost for another exam attempt that falls within 1 year of your original exam date.

Meet the Prof.

Director of Learning

Brian Gordon

Prof. Gordon has 20+ years of financial industry exam prep experience.

Prior to entering academia, Prof. Gordon developed his expertise in the discount brokerage, full service brokerage and banking industries, specializing in investment management, business development, strategic sales and marketing, and wealth management training.

Education / Credentials:
Certified Financial Planner (CFP) 2005
Chartered Financial Analyst (CFA) 1999
Master of Business Administration (MBA) 1998
Chartered Investment Manager (CIM) 1995
B.A. Economics (B.A. Econ) 1992

CFA Level 2 Study Program Outline

Each learning module has summary notes, practice questions, lesson videos and the Prof's exclusive exam tips and strategies.

Expand the sections below for specific details.

  • 1

    Free Sample

  • 2

    Welcome

    • Prof. Gordon's Welcome Message
  • 3

    Quantitative Methods

    • Regrssion Modules

    • Time Series Module

    • Machine Learning and Big Data Modules

    • Linear Regression Intro

    • Multiple Regression Intro

    • Linear and Multiple Regression Lesson

    • Regression

    • ANOVA

    • Durbin Watson

    • Time Series Intro

    • Time Series Lesson

    • Lesson Practice Questions Intro

    • Trend Model Example

    • Trend Model Example Video

    • Autoregressive (AR) Models

    • Unit Root

    • Autoregressive Model and Serial Correlation

    • Lesson Practice Questions Intro

    • AR Model Example

    • AR Model Example Video

    • Machine Learning Intro

    • Machine Learning Lesson

    • Practice Questions Intro

    • Regression Quiz

    • Time Series Quiz
  • 4

    Economics

    • Currency and Economic Growth and Regulations Modules

    • Economics Introduction

    • Currency Exchange Rates Intro 1

    • Currency Exchange Rates: Understanding Equilibrium Value Lesson Part 1

    • Triangular Arbitrage

    • Currency Exchange Rates: Understanding Equilibrium Value Lesson Part 2

    • Forward Premium Discount

    • Review of Forward Points

    • Message from the Prof.

    • Currency Exchange Rates: Understanding Equilibrium Value Part 3

    • Lesson Practice Questions Intro

    • Parity Relationships Learning Examples

    • Partity Relationships Learning Examples Video

    • Interest Rate Parity

    • Carry Trade

    • Another Message from the Prof.

    • Economic Growth and the Investment Decision Intro

    • Economic Growth and the Investment Decision

    • Lesson Practice Questions Intro

    • Growth Theory Learning Example

    • Growth Theory Learning Example Video

    • Steady State Growth Rate

    • Steady State Growth Rate Calculation

    • Economics of Regulation Intro

    • Economics of Regulation Lesson

    • Practice Questions Intro

    • Currency Exchange Rates Quiz

    • Economic Growth Quiz
  • 5

    Financial Statement Analysis

    • Intercorporate Investments Module

    • Employee Compensation: Post Employment and Share Based Module

    • Multinational Operations Module

    • Analysis of Financial Institutions Module

    • Evaluating Quality and Integration of FSA Modules

    • Financial Statement Modeling Module

    • Financial Reporting and Analysis Introduction

    • Intercorporate Investments Intro

    • Intercorporate Investments Lesson Part 1

    • Intercorporate Investments Lesson Part 2

    • Equity Method Base Case

    • Equity Method Purchase in Excess of BV

    • Equity Method Purchase in Excess of BV Calculation

    • Downstream Transaction

    • Equity Method Goodwill

    • Equity Method Goodwill Calculation

    • Goodwill Impairment IFRS

    • Goodwill Impairment GAAP

    • Employee Compensation: Post Employment and Share Based Intro

    • Employee Compensation: Post-Employment and Share-Based Lesson

    • Pension Cost Adjustments 1

    • Pension Cost Adjustments 2

    • Multinational Operations Intro

    • Multinational Operations Lesson

    • Analysis of Financial Institutions Intro

    • Analysis of Financial Institutions Lesson

    • Evaluating Quality of Financial Reports Intro

    • Evaluating Quality of Financial Reports Lesson

    • Integration of Financial Statement Analysis Techniques Intro

    • Integration of Financial Statement Techniques Lesson

    • Financial Statement Modeling Intro

    • Financial Statement Modeling Lesson

    • ROE 3 Stage

    • ROE 5 Stage

    • Leases Adjstments Balance Sheet

    • Lease Adjustments Income Statement

    • Practice Questions Intro

    • Employee Compensation Quiz

    • Multinational Operations Quiz

    • Reporting Quality and FSA Quiz
  • 6

    Corporate Issuers

    • Corporate Issuers Modules

    • Analysis of Dividends and Share Repurchase Intro

    • Analysis of Dividends and Share Repurchases Lesson

    • Environmental, Social, and Governance Intro

    • Level 1 Quick Review Intro

    • Cost of Capital Quick Review

    • Cost of Capital: Advanced Topics Lesson

    • Quick Teaching Video Clips Intro

    • Weighted Average Cost of Capital

      FREE PREVIEW

    • Unlevering Beta

      FREE PREVIEW

    • M&M Theory
  • 7

    Equity Valuation

    • Equity Valuation and Discounted Dividend Valuation Modules

    • Free Cash Flow and Market Based Valuation Modules

    • Residual Income and Private Corp Valuation Modules

    • Equity Valuation Introduction

    • Equity Valuation Applications Intro

    • Equity Valuation: Applications and Processes Lesson

    • CAPM, FF and PSB Models

    • Discounted Dividend Valuation Intro

    • Discounted Dividend Valuation Lesson

    • DDM 2 Stage Calculation

    • Trailing vs Leading PE

    • ROE 3 Stage

    • Free Cash Flow Valuation Intro

    • Free Cash Flow Valuation Lesson

    • FCF Adjustments

    • FCF Forecasting

    • Market Based Valuation: Price and Enterprise Value Multiples Intro

    • Market Based Multiples Lesson

    • Normalizing EPS

    • PE Cross Sectional Regression

    • P-E and Inflation Pass Through

    • Residual Income Valuation Intro

    • Residual Income Valuation Lesson

    • EVA Example

    • RI Model Basics

    • RI Model Multistage

    • RI Model Multistage 2

    • RI Model Multistage 3

    • Private Company Valuation Intro

    • Private Company Valuation Lesson

    • Excess Earnings Method

    • Private Company Valuation

    • Practice Questions Intro

    • Equity Quiz 1

    • Equity Quiz 2

    • Equity Quiz 3
  • 8

    Fixed Income

    • Term Structure and Arbitrage Free Valuation Modules

    • Bonds with Embedded Options Credit Models and CDS Modules

    • Fixed Income Introduction

    • The Term Structure and Interest Rate Dynamics Intro

    • Term Structure and Interest Rate Dynamics Lesson

    • Bootstrapping Spot Rates

    • Spot Rates and Forward Rates Basics

    • Spots and Forwards 1

    • Spots and Forwards 2

    • Spot and Forward Rate Examples

    • Spot and Forward Rate Examples Solutions

    • Swap Spread and Z Spread 1

    • Swap Spread and Z Spread 2

    • Arbitrage Free Valuation Framework Intro

    • Valuation and Analysis of Bonds with Embedded Options Lesson

    • Arbitrage Free Valuation

    • Valuing a Risk Free Bond

    • Pathwise Valuation

    • Valuation of Bonds with Embedded Options Intro

    • Valuation and Analysis of Bonds with Embedded Options Lesson

    • Z Spread and OAS

    • Callable and Putable Bonds

    • Valuing a Callable Bond with an Interest Rate Tree

    • Factors Affecting OAS

    • Reading 34 EOC Question 14

    • Reading 34 EOC Question 15

    • Credit Analysis Models Intro

    • Credit Analysis Models Lesson

    • Credit Default Swaps Lesson

    • Credit Model Example 1

    • Credit Model Example 2

    • Credit Default Swaps Intro

    • Credit Default Swaps Lesson

    • CDS Basics

    • Practice Questions Intro

    • Bond Valuation Quiz

    • Duration/Yield Curve Theories

    • Bonds With Embedded Options
  • 9

    Derivatives

    • Pricing and Valuation Forward Commitments and Contingent Claims Modules

    • Derivatives Introduction

    • Pricing and Valuation of Forward Commitments Intro

    • Pricing and Valuation of Forward Commitments Lesson Part 1

    • FRA Basics

    • FRA Price Calculation

    • FRA Value Calculation

    • Pricing and Valuation of Forward Commitments Intro Part 2

    • Pricing and Valuation of Forward Commitments Lesson Part 2

    • Pricing and Valuation of Forward Commitments Intro Part 3

    • Pricing and Valuation of Forward Commitments Lesson Part 3

    • Interest Rate Swap Basics

    • Swap Price

    • Swap Price Calculation

    • Currency Swap Value Calculation

    • Valuation of Contingent Claims Intro

    • Valuation of Contingent Claims Lesson Part 1

    • Binomial Option Model Basics

    • Binomial Option Pricing Model

    • Put Call Parity

    • Valuation of Contingent Claims Intro Part 2

    • Valuation of Contingent Claims Lesson Part 2

    • Practice Questions Intro

    • Forwards and Futures Quiz

    • Forwards and Futures Quiz 2

    • Options, SWAPs and Swaptions Quiz
  • 10

    Alternative Investments

    • Real Estate Overview and Private Vehicles and Public Securities Modules

    • Private Equity Investments and Commdities Modules

    • Hedge Fund Strategies

    • Overview of Real Estate Intro

    • Overview of Real Estate Investments Lesson

    • Investments in Real Estate Through Private Vehicles Intro

    • Investments in Real Estate through Private Vehicles Lesson

    • Quick Teaching Video Clips Introduction

    • Max Loan and Equity Dividend

    • Real Estate IRR

    • Investments in Real Estate Through Publicly Traded Securities Intro

    • Investments in Real Estate Through Publicly Traded Securities Lesson

    • Private Equity Valuation Lesson

    • PE Fund Quick Teaching Video Clip Introduction

    • PE Fund

    • Introduction to Commodities and Commodity Derivatives Lesson

    • Contango and Backwardation Quick Teaching Clip Introduction

    • Contango and Backwardation

    • Practice Questions Intro

    • Real Estate Quiz

    • Private Equity Quiz

    • Commodities Quiz
  • 11

    Portfolio Management

    • ETFs Multifactor Models and Market Risk Modules

    • Backtesting and Simulation Module

    • Economics and Investment Markets and Active Portfolio Management Modules

    • ETFs Applications Intro

    • Exchange Traded Funds Lesson

    • Multifactor Models Intro

    • Multifactor Models Lesson Part 1

    • Multifactor Models Lesson Part 2

    • APT Arbitrage

    • Measuring and Managing Market Risk Intro

    • Measuring and Managing Market Risk

    • VAR Calculation

    • Backtesting Intro

    • Backtesting and Simulation Lesson

    • Review of Kurtosis from Level 1

    • Review of Normal and Skewed Distributions from Level 1

    • Economics and Investment Markets Lesson Part 1

    • Analysis of Active Management Intro

    • Analysis of Active Portfolio Management Lesson Part 1

    • Analysis of Active Portfolio Management Lesson Part 2

    • Cash Allocation and Sharpe

    • Trading Costs and Electronic Markets Intro

    • Practice Questions Intro

    • Portfolio Management Quiz 1

    • Portfolio Management Quiz 2
  • 12

    Ethics

    • Introduction to Ethics

    • Ethics Summary

    • Ethics Question Analysis Intro

    • Ethics Question Analysis 1

    • Ethics Question Analysis 2

    • Ethics Question Analysis 3

    • Ethics Question Analysis 4

    • Ethics Question Analysis 5

    • Ethics Question Analysis 6

    • Practice Questions Introduction

    • Ethics Quiz 1

    • Ethics Quiz 2
  • 13

    Power Review - Test Mode

    • QM Regression Item Set

    • QM Time Series Item Set

    • Economics Currency Item Set

    • Economics Growth Item Set

    • Fixed Income Item Set 1

    • Fixed Income - Capped / Floored Floaters

    • Fixed Income Credit Models Item Set 2

    • Fixed Income CDS Item Set

    • Equity Item Set 1

    • Equity Item Set 2

    • Equity Item Set 3

    • Equity - P/E and P/B

    • Residual Income Model Quiz

    • Alternative Investments Item Set 1

    • VC Item Set

    • Private Equity / Commodities Item Set

    • APT / Portfolio Management Item Set

    • Portfolio Management Item Set

    • Portfolio Management - Value Added/Optimal Risk

    • Portfolio Management VaR Item Set

    • Derivatives Futures/Forwards Item Set

    • Derivatives Futures/Options/SWAPs Item Set

    • Derivatives Strategies Item Set

    • FRA Intercorporate - Financial Assets

    • FRA Intercorporate - Equity Method/Acquisition Method

    • FRA Pension Item Set

    • FRA Multinationals Item Set

    • Financial Institutions

    • Corporate Finance Item Set 1

    • Corporate Finance Item Set 2
  • 14

    Power Reivew - Review Mode

    • QM Regression Item Set

    • QM Time Series Item Set

    • Economics Currency Item Set

    • Economics Growth Item Set

    • Fixed Income Item Set 1

    • Fixed Income - Capped / Floored Floaters

    • Fixed Income Credit Models Item Set 2

    • Fixed Income CDS Item Set

    • Equity Item Set 1

    • Equity Item Set 2

    • Equity Item Set 3

    • Equity - P/E and P/B

    • Residual Income Model Quiz

    • Alternative Investments Item Set 1

    • VC Item Set

    • Private Equity / Commodities Item Set

    • APT / Portfolio Management Item Set

    • Portfolio Management Item Set

    • Portfolio Management - Value Added/Optimal Risk

    • Portfolio Management VaR Item Set

    • Derivatives Futures/Forwards Item Set

    • Derivatives Futures/Options/SWAPs Item Set

    • Derivatives Strategies Item Set

    • FRA Intercorporate - Financial Assets

    • FRA Intercorporate - Equity Method/Acquisition Method

    • FRA Pension Item Set

    • Financial Institutions

    • FRA Multinationals Item Set

    • Corporate Finance Item Set 1

    • Corporate Finance Item Set 2
  • 15

    Power Review - Video Solutions

    • QM - Regression

    • QM - Time Series

    • Economics Currency Item Set

    • Economics Growth Item Set

    • Fixed Income - Item Set 1

    • Fixed Income - Credit Models Item Set 2

    • Fixed Income - CDS Item Set

    • Equity Item Set 1

    • Equity Item Set 2

    • Equity Item Set 3

    • Residual Income, Alternative Investments and APT Item Sets

    • Portfolio Management Item Set

    • Portfolio Management VaR Item Set

    • Derivatives Item Sets

    • FRA and Corporate Finance Questions

Teaching what you need to know to pass!