Passing the Test Prep CFA-Level-III Exam
The CFA-Level-III exam, also known as the CFA Level III Chartered Financial Analyst exam, is a rigorous test that requires extensive preparation to pass. The exam tests candidates on their ability to apply the knowledge and skills they have gained through the CFA program to real-world investment management situations. Passing the CFA-Level-III exam is an essential step in becoming a Chartered Financial Analyst and advancing your career in finance.
Exam Objectives:
The CFA-Level-III exam is designed to test candidates on the following objectives:
- Portfolio Management and Wealth Planning
- Ethics and Professional Standards
- Asset Allocation and Fixed Income
- Equity Investments
- Alternative Investments and Derivatives
- Performance Evaluation and Risk Management
The exam is divided into two sessions, with 10-15-minute breaks between each session. Each session is three hours long, and candidates are not allowed to leave the testing room during the exam.
Exam Details:
- Cost: The cost of the exam varies depending on when you register. Early registration fees start at $1,150, while standard registration fees start at $1,450.
- Passing mark: The passing score for the CFA-Level-III exam is not disclosed by the CFA Institute.
- Time: The exam is a full-day exam, with two three-hour sessions and 10-15 minute breaks in between.
- Delivery Method: The exam is administered via computer at test centers around the world.
- Format: The exam consists of constructed-response (essay) questions and item sets (mini-case studies with several questions).
Who Should Take the Exam?
The CFA-Level-III exam is intended for investment professionals who have completed the CFA program and are seeking to become a Chartered Financial Analyst. The exam is also appropriate for individuals who are interested in investment management and wish to test their knowledge and skills in this area.
Before taking the CFA-Level-III exam, candidates must have completed the CFA program, which includes passing the CFA-Level-I and CFA-Level-II exams, having four years of professional work experience in investment decision making, and fulfilling the CFA Institute's professional conduct requirements.
Related Books:
There are many books available to help candidates prepare for the CFA-Level-III exam. Some of the most popular titles include:
- CFA Program Curriculum 2022 Level III Volumes 1-6
- Level III CFA® Exam Soloman Exam Prep Practice Exams
- Level III CFA® Exam Soloman Exam Prep QuickSheets™
- Level III CFA® Exam Soloman Exam Prep Study Notes
- CFA Level III: Complete Package (Schweser Study Program)
It is important to note that while these books can be helpful in preparing for the exam, they should not be the sole source of study. Candidates should
also do practice exams, attend review courses, and seek guidance from experienced professionals to ensure they are adequately prepared for the CFA-Level-III exam.
In conclusion, passing the CFA-Level-III exam requires diligent preparation and a deep understanding of the investment management topics covered by the exam. Candidates should familiarize themselves with the exam objectives, understand the exam format and details, and utilize a variety of study materials to ensure success on exam day. With dedication and hard work, candidates can pass the CFA-Level-III exam and advance their careers in finance.