Level III CFA® Program Exam Prep


2021, 2022 CFA Exams








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Featured Prep Options

Pass your Level III CFA exam – quick, no sweat.



Starting at CAD 79






  • Level III CFA Exam

    Modular
    Courses

  • Focus Course

    Focus Course is our adaptable self-paced modular study system ideal for spot learning or as a main study source. Choose from Packages (Plus or Total) or Single Topics (Topic Modules) and optimize your prep on-demand from start to finish or anywhere in between.
  • Starting at CAD 79
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  • Level III CFA Exam

    Review
    Courses

  • Power Review
    Power Course is our practice and assessment on-demand workshop ideal for rocket-speed score gains at your own pace in the month leading up to the exam. Suggested minimum budgeted study time is 25 - 30 hours.
  • CAD 399
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  • Level III CFA Exam

    Strategy
    Guides

  • Study Notes Set

    Study Notes Set is a concise and practical "How To" digital guide that makes harnessing a clear comprehension of the curriculum and exam strategies, a snap.
  • CAD 249
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Study Packages

BEST VALUE

Cover all your Level III CFA exam bases. As captivating as in-person prep but on demand.



    Most Comprehensive



  • Focus Course: Plus
  • 118 hours


  • Includes everything in:


    10 Topic Modules
    + Power Review
    + Ask the Prof.
    + Success Guarantee




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    Most Flexible


  • Focus Course: Total
  • 93 hours


  • Includes everything in:


    10 Topic Modules





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Single-Topic Modules

Hone specific topics for your Level III CFA exam, on demand.



    Most Targeted


  • Focus Course: Topic Modules
  • 9 hours
  • Get exactly the ones you want.
    Choose between 10 Topic Modules,
    on average 9 hours each.
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Final Practice

Get a crunch-time content and skills tune-up for your Level III CFA exam, on demand.




  • Power Review Course
  • 25 hours

  • Instantly boost your score with a blast of mini-mock-exam question practice and assessment in the final stretch.

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Summary Notes


Our ace-in-the-hole study manual breaks down every topic tested on the Level III CFA exam.




  • Study Notes Set
  • 50 hours
  • Conquer the concepts, skills and strategies needed to pass with this printable quick-reference CFA curriculum pocket guide.
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1 on 1 Tutoring


Customized on-demand prep for your Level III CFA exam. Enjoy a class size of one.




  • Private Tutoring
  • 2 hours

  • Schedule personalized tutoring with Prof. Brian Gordon, CFA, CFP, CIM, MBA, FCSI. 2-hour minimum.

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Level III CFA Exam



Prof. Brian Gordon
CFA, CFP, CIM, MBA, FCSI


CFA Instructor Prof. Brian Gordon, CFA, CFP, CIM, MBA, FCSI, teaching at Ryerson University

The Level III CFA exam (Portfolio Manager's exam) is made up of Item Set questions, and Essay questions — the main source of pain and where Exam Success helps you ratchet up the points with the graders.

Here on the home stretch our winning study solutions help you correctly interpret the questions and construct the answers demonstrating knowledge of the curriculum (in the context of portfolio management), using the right keywords, writing style and framework, all in the right amount of time







Level III CFA Exam Dates


In 2021 CFA Institute transitioned the CFA exams to computer-based testing (CBT), offered in proctored test centers worldwide. In 2021, the Level III CFA exam options are May, August, and November. For 2022 and beyond, there is a choice between two Level III CFA exam test windows per year: May and November.








Level III CFA Exam Format


The Level III CFA exam is divided into two 135-minute (2-hour and 15 minute) sessions, with a 30-minute optional break in between. The Level III exam consists of item sets comprised of vignettes with accompanying multiple-choice items and constructed response (essay) questions.








Level III CFA Exam Top FAQ



You must register and enrol for the Level III exam directly with CFA Institute at: https://www.cfainstitute.org/en/programs/cfa/register.

Level III CFA exam registration prerequisite: Pass Level II CFA exam.



The amount it will cost you to sit for the Level III CFA exam depends on how early you register with CFA Institute. You will be required to pay CFA Institute a one-time enrollment fee of US 450. And, each time you register to sit a CFA exam, you must pay CFA Institue an exam fee.

CFA Institute offers two tiers of pricing: one for early registration (US 700) and the other for standard registration (USD 1000).


As of 2022, CFA Institute the Level III exam is being offered 2 times per year. The 2 exam windows are: May and August.


The 10 year average Level III CFA exam pass rate is 54%.

The December 2020 CFA Level III exam pass rate was 56%. The passing score is set by CFA Institute and is not released to the public.


According to UK NARIC (the national agency, managed on behalf of the UK Government responsible for providing information, advice and opinion on vocational, academic and professional skills and qualifications from all over the world), the CFA exams have been benchmarked individually by Level under UK Regulated Qualifications Framework (RQF):

CFA Level III's difficulty is comparable to a Master’s degree (Level 7 qualification under RQF).

The CFA Level III exam focuses on wealth planning and portfolio management, and many of the questions are posed in essay form. The Level III CFA exam is the only one of the three that uses this format and the essays are considered by candidates to be the harded part of the Level III exam. This feeling is reflected in the lower scores of the morning essay-question section compared to the afternoon multiple-choice section of the Level III exam. The morning section requires a new skill of answering open-ended questions without the multiple-choice answers to select from. The keys to success on the Level III exam is practicing as many essay type questions as possible and harnessing your comprehension of portfolio management, the topic at the core of the Level III CFA exam.


The topics and topic weights on the Level III exam are subject to change on a year-to-year basis, at the discretion of CFA Institute. Here are the Level III weights by topic for the 2021 and 2022 exams:



Exam Success
Learning Modules

(10)
CFA Institute
2021, 2022 Core Curriculum Topics

(10)
CFA Exam
Weights

(100%)
-
Quantitative Methods
0%
1
Economics / Capital Markets Expectations
5-10%
-
Financial Reporting and Analysis
0%
-
Corporate Finance
0%
2
Equity Investments
10-15%
3
Fixed Income
15-20%
4
Derivatives
5-10%
5
Alternative Investments
5-10%
Portfolio Management and Wealth Planning (35-40%):
6
- Behavioral Finance
5-10%
7
- Asset Allocation
5-10%
8
- Private Wealth Management
5-10%
9
- Institutional Investors & Cases
5-10%
10
- Trading, Performance Evaluation & Manager             Selection
5-10%
-
Ethical and Professional Standards (Ethics)
10-15%







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*2019 Top Choice Award Nominee in multiple categories. The Top Choice Award is an honour presented to businesses that receive the most customer satisfaction votes. Exam Success follows CFA Institute Prep Provider Guidelines. Required Disclaimer: CFA Institute does not endorse, promote or warrant the accuracy or quality of the products or services offered by Exam Success. CFA Institute, CFA® and Chartered Financial Analyst are trademarks owned by CFA Institute.



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