CFA Level 3 Exam Pattern 2022 - Duration, Question Format, Passing Score
Download PDFCFA Level 3 Exam Pattern 2022 - The Chartered Financial Analyst Institute provides details related to the CFA Level 3 exam pattern on its official website - cfainstitute.org. The exam pattern guide candidates on major exam details such as how the exam will be conducted, number of questions asked, overall time duration of CFA Level 3 exam, marking scheme etc., By knowing these details, candidates can devise a proper preparation strategy and score good marks. CFA Level 3 exam for the May 2022 session will be held between May 24 to May 26, 2022.
Related: Take a look at the CFA Level 3 exam date 2022 before starting your preparation for the upcoming CFA Level 3 exam.
Read this article by Careers360 to know details about the exam pattern of CFA Level 3 exam.
CFA® Level 3 Exam Pattern 2022 - Overview
Before commencing their preparation, candidates who are registered for the CFA® Level 3 exam for the upcoming May 2022 session should check the CFA Level 3 exam pattern. Currently, CFA Level 3 registration for the May session is open and will close on February 8, 2022.
Exam Pattern of CFA Level 3 2022
Particulars | Details |
Frequency of the exam | Twice - May and August |
Exam level | Postgraduate |
Question format | Vignette-supported
|
Time duration of CFA® Level 3 exam | 4 hours and 24 minutes |
Sessions (2) | 2 hours and 12 minutes (each) |
Medium of exam | English |
Marking scheme | Each question is worth 3 points |
CFA® Level 3 Exam Pattern 2022
Along with the CFA Level 3 exam pattern 2022 on its official website, The CFA Institute also provides help to candidates by providing tips on how to prepare for the exam. As per the paper pattern, the overall time duration of the CFA Level 3 exam is 4 hours and 24 minutes. This time will be further divided into two equal sittings as shown in the table below.
Note- To qualify the CFA® Level 3 exam, it is mandatory to appear in both sittings as the CFA Level 3 result 2022 will be based on both the sessions.
CFA Level 3 exam schedule for both sessions
Sitting | Time Duration | No. of Questions |
Morning | 2 hours, 12 minutes | The first session will have 8 to 11 vignettes with several questions. Candidates have to provide a written response. Along with these, there will be MCQs and numerical entry questions as well. The majority questions will be traditional essay |
Afternoon | 2 hours, 12 minutes | In the second session each item set will consist of a vignette followed by either 4 or 6 multiple-choice questions. The items given will not be free-standing like in CFA level 1 exam. |
Total | 4 hours and 24 minutes | 88 Vignette-supported
|
Basic Details related to CFA Level 3 Exam Pattern 2022
Each item set on the CFA Level 3 exam 2022 will consist of a vignette supported - Easy questions or Multiple choice questions
Total of 88 questions will be covered; divided into 44 in each session
CFA Level 3 Syllabus 2022 (curriculum) will be randomly placed on the CFA Level 3 exam
CFA Level 3 Easy Questions 2022
As mentioned above, candidates have to solve vignette supported easy questions in CFA level 3 exam. Hence, understanding the core concepts of solving the questions is very important. Each essay question consists of two or more related items. There are mainly 2 categories of CFA® level 3 essay questions 2022 - word based responses and calculation based responses. Candidates have to answer the questions in concise manner.
Click here to check a sample item set of CFA Level 3 questions.
CFA® Level 3 Sample Papers 2022
The CFA Institute also releases sample papers to help candidates in their preparation. The sample papers act as a guide and provide pre-hand knowledge on how the exam day questions will be. By going through the CFA level 3 sample papers, candidates can easily understand the exam pattern in a better manner.
Frequently Asked Question (FAQs) - CFA Level 3 Exam Pattern 2022 - Duration, Question Format, Passing Score
Question: What is the mode of CFA Level 3 exam 2022?
Answer:
As per the exam pattern, all CFA exams will be conducted in computer based mode only.
Question: Will there be any changes in the CFA Level 3 exam fee due to changes in the exam pattern?
Answer:
No, exam fee of CFA Level 3 will not change.
Question: What is the time duration of CFA Level 3 exam?
Answer:
The overall time duration of the CFA Level 3 exam will be 4 hours 24 minutes. This will be divided into two equal halves of 2.12 hrs each.
Question: What type of questions will be asked in CFA level 3 exam?
Answer:
As per the paper pattern, candidates have to solve vignette supported - Easy questions or Multiple choice questions only.
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