{"id":21515,"date":"2018-07-27T14:39:00","date_gmt":"2018-07-27T19:39:00","guid":{"rendered":"http:\/\/www.kaptest.com\/blog\/prep\/?p=21515"},"modified":"2023-01-24T22:46:03","modified_gmt":"2023-01-24T22:46:03","slug":"what-is-the-cfa-level-iii-exam","status":"publish","type":"post","link":"https:\/\/wpapp.kaptest.com\/study\/cfa\/what-is-the-cfa-level-iii-exam\/","title":{"rendered":"What is the CFA\u00ae Level III Exam?"},"content":{"rendered":"

At this point, you\u2019ve made it past the Level I<\/a> and Level II CFA exams<\/a><\/span>. Only one more to go! The Level III exam is the final exam in the series to becoming a CFA charterholder, but it will not be easy. We have developed this article to answer all the most frequently asked questions and provide you with the information you need to pass the Level III exam.<\/span><\/p>\n

How is the Level III CFA\u00ae exam different than Level I and Level II?<\/h3>
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\nThe Level III CFA exam is exceptionally different from the other two levels. The morning session of the Level III exam requires you to write your answers, as opposed to choosing from multiple-choice answers. The afternoon session consists of 10 item sets like you saw in Level II. <\/span>
\nThe Level I exam consists of learning and recalling the appropriate facts in order to pass the exam. Level II is often cited as the most difficult because the questions are math-based, and the solutions are deterministic. The Level III exam uses case studies and math to test your ability to effectively do what is expected of a CFA charterholder.
\nDue to the drastic differences between Level III and the other two exams, you need to adapt your preparation strategy<\/a><\/span>.<\/span> The reason most people don\u2019t pass the Level III exam is because they fail to take this crucial step. If you’re not sure if you can do it alone, a study package<\/a> can be helpful, too. <\/span>
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How is the Level III CFA\u00ae exam organized?<\/h3>
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\nThe Level III CFA exam includes two sessions\u2014one in the morning and one in the afternoon. The morning session is composed of essay-style questions called “constructed response<\/a>” with multiple parts. These questions test your real-life application of the information by presenting you with a scenario that you must solve. The afternoon session consists of 10 item sets, much like Level II. Each item set starts with a case statement and asks six multiple-choice questions about that statement.
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When can I take the Level III CFA\u00ae exam?<\/h3>
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\nThe Level III CFA exam is only offered once a year, in June. In the past, the exam has been offered on a specific day in early June, but for 2019, CFA Institute has made the exam date dependent on the region in which you live<\/a>.
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What topics are tested on the Level III CFA\u00ae exam?<\/h3>
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\nThe Level III exam will cover the following topics:<\/span><\/p>\n