PASSMAX is an independent exam preparation entity with one of the highest CFA® Exam pass rates in the industry.

With over many years of teaching and examination experience, we have developed a prep system which maximizes a candidate’s likelihood of passing the CFA Exam. 

Our prep philosophy is built upon 3 core principles:

  • Strategy

  • Discipline

  • Hard Work

PASSMAX is unlike any of the mainstream CFA® Prep providers that are out there.  For instance, note the following differences:



  • PASSMAX: provides over 130 hours of class time (for L1 and L2), thus ensuring maximum coverage of all examinable material.

  • Mainstream Competitors: do not provide nearly half as much class time.



  • PASSMAX: For a prep program this comprehensive and this successful, our fees are the most affordable in the industry.

  • Mainstream Competitors: Most charge unsubstantiated premiums.



  • PASSMAX: provides a complete training program, which is strategically structured to maximize a candidate’s chances of passing the CFA® exam. Furthermore, we use a ‘ground-up’ teaching method to ensure that candidates develop a firm understanding of the underlying concepts.

  • Mainstream Competitors: offer a menu of products and study gadgets that are largely uncoordinated and thus likely to overwhelm a candidate. Such an approach can prevent a candidate from achieving the focus that’s necessary in order to pass the CFA® exam.



  • PASSMAX: allows candidates to attend the first 2 sessions for free (for the Complete Prep Programs) before deciding to continue with the remainder of the prep program. Furthermore, with our ONE-FEE-TILL-PASS Policy, candidates will never have to pay PASSMAX again until they pass the CFA® Exam for the level in which they are registered for. That’s how confident we are in our prep.

  • Mainstream Competitors: Payment is required before the commencement of the prep. Furthermore, upon failing, re-enrollment with most mainstream prep providers can run into the hundreds of dollars.



  • PASSMAX: classes are led by a full-time professional instructor, Krikor Ghanaghounian, CFA®, who has many years of experience in teaching finance to both MBA and CFA® candidates.

  • Mainstream Competitors: For many of their instructors, teaching is simply a part time activity, and thus not necessarily an area of expertise.



  • PASSMAX: Our prep program, and thus the support we provide, runs to the day of the CFA® exam!  We ensure that our candidates receive all the prep and support that they require in order to successfully attempt the CFA® exam.

  • Mainstream Competitors: Most mainstream prep programs end weeks in advance of the CFA® exam, leaving candidates with little or no guidance during those critical weeks leading up to the exam.



1. Our sessions take a very disciplined approach, focusing only on what the candidate is required to know in accordance with the Learning Outcome Statements (LOSs) found at the beginning of each reading.

2. We use a ‘ground up’ approach to explain concept so that candidates develop a deeper understanding of the concepts and thus reduce the amount of memorization that would be required. Furthermore, our approach equips candidates to handle both the quantitative and qualitative types of questions that may appear on the CFA® exam.     

3. We have strategically re-ordered the coverage of the study sessions so that candidates may be able to maximize the retention of the curriculum on exam day.  For example, Ethics requires the greatest amount of memorization and thus is covered last (i.e. closer to the exam date).  On the other hand, the concepts learned in Quantitative Methods are used throughout the curriculum and are thus covered first.    

4. The rigour and intensity of each of our sessions mimics that of the CFA® Exam.  For instance, our L1 and L2 sessions are held on weekends, and run for 6 hours each (3 hours in the morning and 3 hours in the afternoon, just like the CFA® Exam). By the end of our training program, our candidates will have the physical and mental stamina that’s necessary in order to successfully attempt the CFA® exam.  We firmly believe that candidates must be able to go ‘all-out’ for 6 hours in order to pass the CFA® Exam.

5.  Our prep program, and thus the support we provide, continues to the day of the CFA® Exam. While most other prep programs end weeks in advance of the CFA® exam, we actually increase the level of support provided during these last remaining weeks. For instance, our question workshops and mock CFA® Exam simulation in the weeks leading up to the CFA® Exam will ensure that candidates are in peak shape for the exam.  Furthermore, on the day of the exam, we will be present at the exam site in order to provide whatever kind of support is necessary in order to enable the candidate to just focus on passing the CFA® exam. Making our candidates pass the CFA® exam is our number one priority!   

As can be seen, our prep program is not designed to make life easier for the candidate.  Instead, we take the prescribed number of prep hours and structure it in such a way that maximizes the candidate’s chances of passing the CFA® exam.  Our program is not for everyone, especially for those who cannot commit the minimum number of prep hours that is required during our training schedule (a minimum of 300 hours).  But for those who are willing to commit the time and dedication, PASSMAX provides the best opportunity for a candidates to pass the CFA® Exam.

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Meet the Coach

The principal instructor at PASSMAX is Krikor Ghanaghounian, CFA®. Krikor is an award winning finance instructor who has previously taught 15 years at one of the nation’s top ranked MBA schools and has over 10 years of experience teaching CFA® Candidates.