Top 10 Effective Study Tips to Pass CFA Level 3 Exam

You passed the CFA level 2 exams, congratulations! you are on your way to get a CFA designation. Many candidates study like crazy for the exam but it seems to be insufficient. Truly, Level 2 may be the hardest exam because of the huge study material. Therefore, Level 3 seems like to be the most underrated of all. Yet, after passing the first 2 exams, for those who have ever experienced in the Level 3 exam, it is agreed that the level 3 exam turns out to be more challenging than many candidates expect for many reasons. Following is Top 10 Effective Study Tips to Pass CFA Level 3 Exam to help you well prepare for Level 3 and understand how to make it work.

Challenges of CFA Level 3 Exam

1. In terms of the drop-out rate, Level 3 will often be the lowest of all three levels. So, candidates often underestimate it compared to Level 1 and 2, consequently, they fail.

2. The difference in format of Level 3 is essay questions in the morning session and item set questions in the afternoon session. Not similar to the two previous level exams in multiple choice formats, it’s the first time you need to familiarize essay questions in the CFA exam.

3. It’s silly if you think it doesn’t take much time to cover the CFA curriculum of Level 3 as it looks pretty thin. Really tricky! There is amazingly lots of dry and boring materials to run through.

4. Despite fewer LOS and Readings (as referred in the changes to both the topics and readings in CFA Level 3 exam), it brings itself various overtone and subtext and any corner of the curriculum can be asked from there.

5. Readings are much shorter but the range of real-situation problems they can ask is very extensive.

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