Some university business libraries keep a reference copy of SchweserNotes. You can’t take it home, but you can photocopy (fair use) a few chapters at a time.
If you genuinely have $0 to spend, you don’t actually need Schweser. Here are three free resources that replicate the Schweser experience:
| Feature | Schweser Notes | Best Free Alternative | | :--- | :--- | :--- | | Concise summaries | 10 books | Salt Solutions (free tier) – digital notes only, no print. | | Practice questions | 2,000+ | AnalystPrep Free QBank – 500 free questions. | | Formula review sheet | Quicksheet | Reddit Crowdsourced Formula Sheet (search r/CFA for "formula sheet 2025"). | | Mock exams | 4 mocks | CFA Institute Mock (1 free) + FinQuiz free mini-mock. | schweser cfa level 1 notes free
A quick Google, Reddit, or Telegram search reveals a sprawling underground economy of shared PDFs. Search strings like “Schweser CFA Level 1 2024 PDF free” or “Kaplan Schweser notes download” lead to:
These files are typically scanned copies of previous years’ Schweser notes, sometimes watermarked or missing crucial updates. Some university business libraries keep a reference copy
If you type "Schweser Level 1 PDF free download" into a search engine, you will find results. However, pursuing this path comes with three significant dangers that can cost you more than money in the long run.
1. The "Time Trap" of Outdated Material The CFA curriculum changes every year. Reading 45 might be relevant in 2023 but removed entirely in 2024. A significant portion of free PDF files floating around file-sharing sites are from previous exam cycles. Studying from outdated notes means you are memorizing formulas that won't appear on the exam and missing the new topics that will. You cannot "Ctrl+F" find what isn't there. These files are typically scanned copies of previous
2. Malware and Data Security The websites that host pirated intellectual property are rarely altruistic. They are often ad-farms riddled with malicious scripts. Many candidates report that attempting to download these files resulted in viruses, ransomware, or phishing attempts. The cost of repairing a compromised laptop far exceeds the cost of a legitimate study guide.
3. Intellectual Property and Ethics The CFA charter is built on a foundation of ethics. While downloading a PDF might not seem like a major crime, it is technically a violation of intellectual property rights. More importantly, it creates a psychological friction: you are attempting to enter a profession defined by high ethical standards by violating the rights of the very prep provider helping you get there.
Buy a used set of 2024 Schweser notes on eBay or Facebook Marketplace for $30–$50. Then, download the free 2025 Curriculum Changes PDF from the CFA Institute. Study the old notes, but supplement with the free errata document for new topics. This is 100% legal and costs 95% less than new.