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Turn your CFA Level 2 notes into flashcards with AI

Upload your CFA Level 2 readings, slides or photographed notes and get flashcards with spaced repetition, plus quizzes to check what you actually know.

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Drop files here or browsePDF, DOCX, PPTX, text or photos of your notes · several files with Plus

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Why custom CFA Level 2 practice works better

Ready-made decks can drift away from your exam date and the topics you are weakest on, so many candidates prefer Quizlet-style CFA Level 2 flashcards built from their own readings.

Flashcards built from your own CFA Level 2 readings and notes
Quizzes with explanations so wrong answers teach you something
Spaced repetition that brings back the cards you miss
Free plan to try it with no credit card needed

Example CFA Level 2 flashcards on FCFF and bonds

What is the formula for free cash flow to the firm (FCFF) starting from net income?FCFF = NI + non-cash charges + interest × (1 – tax rate) – fixed capital investment – working capital investment.

What does modified duration measure?The approximate percentage change in a bond's price for a 1 percentage point change in yield, with price moving inversely to yield.

What key assumption does the Black-Scholes-Merton model make about the underlying asset's price?Prices follow geometric Brownian motion with constant volatility, so returns are lognormally distributed.

What does Standard I(C) of the CFA Standards of Professional Conduct cover?Misrepresentation: members must not knowingly misrepresent investment products, services, analyses or their own qualifications.

What is a Monte Carlo simulation used for in portfolio analysis?Generating many random scenarios from specified return and risk distributions to estimate the range of possible portfolio outcomes.

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Cards from your own readings

Upload the PDFs, slides or notes your study group uses and get flashcards that match your curriculum, not a generic deck.

Spaced repetition built in

Cards you miss come back sooner, so formulas and standards stick before exam day.

Quizzes with explanations

Multiple choice, true/false and short answer questions show the reasoning behind each correct answer.

How it works

Upload your material

Add a PDF, DOCX, PPTX, text file or a photo of your notes. Photos are read with text recognition.

Generate cards and quizzes

DeckOwl turns the content into flashcards, quiz questions and mind maps you can study in the browser.

Study on a schedule

Spaced repetition brings each card back at the right time, so you spend less time rereading and more time practicing.

Generating cards from your own material keeps the focus on ethics, financial reporting, valuation, fixed income, derivatives, alternative investments and portfolio management, with the formulas and definitions you need for each.

Start with the topics you find hardest, review the cards that keep coming back, and use the quizzes to test whether you can apply the concept rather than just recognize it.

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Frequently asked questions

How should I study CFA Level 2 with flashcards?

Make cards for formulas, definitions and the conditions under which each one applies, then review them daily. Pair the cards with practice questions so you can apply the concepts to case-style problems.

How many flashcards should I make for CFA Level 2?

There is no fixed number, so make one card per formula, term or standard in each topic you study. Remove cards you already answer reliably so your review time goes to the material you are still missing.

Can I export CFA Level 2 flashcards to Anki?

Yes, but exports are a paid feature. Plus is $39/year or $7.99/month and includes PDF, DOCX, Anki and CSV export.

Is there a free plan?

Yes. The free plan includes 3 generations per month and lets you study in the browser, but it does not include exports. No credit card is needed to start.

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Keep exploring the topic

Review the main ideas visually or practice recalling them.