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Turn your CFA L1 study material into flashcards with AI

Upload your curriculum readings, lecture slides, notes or photos of pages. DeckOwl builds flashcards you can review with spaced repetition.

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How to build CFA L1 flashcards that stick

Level I covers ethics, quantitative methods, economics, financial reporting, corporate issues, equity, fixed income, derivatives, alternatives and portfolio management, and the volume of material is the main challenge. Many candidates build CFA L1 flashcards from their own curriculum notes so every card reflects the readings their exam will test.

Upload your own readings, slides and notes instead of starting from a generic deck
Keep formulas, definitions and standards as separate cards so each one is tested alone
Review daily in short sessions and let spaced repetition set the timing
Export to Anki on Plus if you already study there

Example CFA Level I flashcards

What does CFA Standard I(A), Knowledge of the Law, require of members?Members must understand and comply with applicable laws, rules and regulations, and follow the stricter standard when laws and the CFA Code conflict.

What is the CAPM formula for expected return?E(Ri) = Rf + beta times (E(Rm) minus Rf), where Rf is the risk-free rate, beta measures systematic risk and E(Rm) is the expected market return.

What does the current ratio measure?Current assets divided by current liabilities. It shows short-term liquidity, meaning whether the company can cover obligations due within one year.

What is the future value formula for a single sum?FV = PV times (1 + r) to the power of n, where r is the periodic rate and n is the number of compounding periods.

What is the difference between a Type I and a Type II error?A Type I error rejects a true null hypothesis, and a Type II error fails to reject a false null hypothesis.

Generate the full set

Built from your readings

Upload PDFs, PPTX slides, DOCX files, plain notes or photos of pages. The text is extracted and turned into question and answer cards.

Spaced repetition

Cards you find hard come back sooner, and cards you know fade into longer intervals, so review time goes to the material you still miss.

Export when you need it

On Plus, export to Anki, PDF, DOCX or CSV and keep studying wherever you prefer. The Free plan lets you study in the browser.

How it works

Upload your material

Add a PDF, slide deck, document, text file or image of a page from your CFA Level I prep course.

Review the generated cards

Check the front and back of each flashcard, edit anything that looks wrong, and keep the ones that cover the learning outcomes.

Study on a spaced schedule

Open your deck daily. Rate each card, and the schedule adjusts so weak areas come up more often before exam day.

Good cards are specific. A card asking for a formula should show the formula and define each variable, and a card on an ethics standard should name the standard and the rule it requires. Short answers work better than long paragraphs because they make it easier to tell whether you actually recalled the idea.

Spaced repetition does the rest. Reviewing a deck in short daily sessions beats one long cram session, and the cards you keep missing are the ones to revisit most.

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Frequently asked questions

How many flashcards should I make for CFA Level I?

There is no fixed number, but cards should cover the learning outcome statements in the readings you are studying. Start with the topics you find hardest and add cards as you finish each reading.

Should I memorize CFA L1 formulas or understand where they come from?

Do both. Memorizing a formula helps you answer quickly under time pressure, while knowing its logic helps you handle question variations and spot wrong answer choices.

Can I export my CFA L1 flashcards?

Yes, on the Plus plan you can export to Anki, PDF, DOCX and CSV. The Free plan lets you study the cards in your browser but does not include exports.

Is there a free plan to try DeckOwl?

Yes, the Free plan includes 3 generations per month and browser study. No credit card is needed to start, and students with a school email get 40% off Plus.

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