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Study CFA Level II with AI flashcards built from your own notes

Upload your readings, lecture slides or photos of your notes. DeckOwl turns them into flashcards you review on a spaced repetition schedule.

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How to build CFA Level II flashcards from your own material

Level II rewards applying concepts to vignettes, so memorizing definitions alone is rarely enough. CFA Level II flashcards work best when each card targets one formula, one rule or one decision point that you have to recall under time pressure. DeckOwl reads your own readings, slides and notes and drafts those cards, so the deck follows the material you are actually studying.

  • Turn readings, slides and handwritten notes into flashcards in one upload.
  • Focus each card on a single formula, standard or decision rule.
  • Review missed cards more often and known cards less often.
  • Export to Anki or CSV on the Plus plan if you want the deck elsewhere.
Example CFA Level II flashcards
What is the formula for free cash flow to the firm starting from net income?FCFF = NI + non-cash charges + interest x (1 - tax rate) - fixed capital investment - working capital investment, since FCFF is cash available to all capital providers.
What does the residual income model measure in a given year?Net income minus an equity charge equal to the cost of equity times beginning book value of equity, showing value created above the required return.
What does modified duration estimate for a bond?The approximate percentage change in price for a 1 percentage point change in yield, which is why higher duration means greater price sensitivity.
What is the put-call parity relationship for European options on a non-dividend stock?C0 + PV(X) = P0 + S0, since a call plus cash equal to the strike price has the same payoff as a put plus the stock.
Under CFA Standard I(C), what is prohibited?Misrepresentation, which covers any act of omission or commission that misleads clients, employers or the public about investment performance or credentials.
Generate the full set

Built from your material

Upload PDFs, DOCX or PPTX files, plain notes, or photos of pages. The text is read and turned into cards that match your own curriculum.

Spaced repetition

Cards you miss come back sooner and cards you know fade into longer intervals, so you spend time on the formulas and standards you still need.

Export when you need it

Plus users can export to Anki, CSV, PDF or DOCX, so your CFA Level II deck can move into the study app you already use.

How it works

Upload your readings or notes

Add a PDF, slide deck, document, text file or image of a page from your Level II study material.

Review the generated cards

Check the flashcards for the topics you need, such as valuation, fixed income or ethics, and edit anything that looks off.

Study on a spaced schedule

Review each day in the browser. Missed cards return sooner until you can recall them reliably.

Start with the topics where you lose the most points on practice questions, such as financial statement analysis, equity valuation, fixed income or derivatives. Keep each card short: a prompt on the front and a precise answer on the back. Review the deck in small daily sessions, because spaced repetition only helps when you see the cards again before you forget them.

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Frequently asked questions

How many flashcards should I make for CFA Level II?

There is no fixed number, but a focused deck of a few hundred cards is common for each topic area. Make cards for formulas, standards and decision rules you miss on practice questions rather than copying every sentence from the readings.

Which Level II topics work best as flashcards?

Formulas and definitions in financial statement analysis, equity valuation, fixed income and derivatives suit flashcards well. Ethics standards also work, as long as each card asks for one specific rule and its application.

Can I use the flashcards offline or export them?

The free plan lets you study in the browser, but exports are a paid feature. The Plus plan includes PDF, DOCX, Anki and CSV export.

Is there a discount for students?

Students get 40% off with a school email address. You can start on the free plan without a credit card.

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