CFA - Level III Overview
Level Requirement:
- Pass Level II CFA exam and meet CFA Program enrollment requirements
Question Format:
- Vignette-supported essay and MCQs.
- Choose 1 of 3 specialized pathways Essay questions
- Calculation responses in essay questions & MCQ.
Structure :
- The Level III exam consists of item sets and constructed response
(essay) sets. Each session will have either 6 item sets and 5 essay sets
or 5 item sets and 6 essay sets. This mixed distribution of item types
across the two exam sessions creates a more-balanced delivery of
questions throughout the exam. Overall, the Level III exam contains 11
item sets and 11 essay sets for 12 points each.
Duration:
- The Level III exam will be 4 hours and 24 minutes, split into two
equal sessions of 2 hours and 12 minutes, with an optional break
in-between.
Exam Results Availability:
- Within 6-8 weeks of taking the exam and completion of your PS Module
10-Year Average Pass Rate: 52%
Contact us for personalized guidance on your paper selection and to enroll that best fits your career ambitions!