CFA Level 3 Exam Pattern 2023 - Duration, Question Format, Passing Score
CFA Level 3 Exam Pattern 2023 - 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 February 2023 session will be held between February 21-February 23, 2023.
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New in February 2023: Item sets and constructed response (essay) sets will be mixed within each of the two exam sessions, so each session will have either 6 item sets and 5 essay sets or 5 item sets and 6 essay sets. Previously, the first session was all essay sets and the second session was all item sets. Level III overall will not change: 11 essay sets and 11 item sets, for 12 points each.
Related: Take a look at the CFA Level 3 exam date 2023 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 2023 - Overview
Before commencing their preparation, candidates who are registered for the CFA® Level 3 exam for the upcoming February 2023 session should check the CFA Level 3 exam pattern. Currently, CFA Level 3 registration for the August session is open and will close on May 9, 2023.
Exam Pattern of CFA Level 3 2023
Frequency of the exam
Twice - February and August
Time duration of CFA® Level 3 exam
4 hours and 24 minutes
2 hours and 12 minutes (each)
Medium of exam
Each question is worth 3 points
CFA® Level 3 Exam Pattern 2023
Along with the CFA Level 3 exam pattern 2023 on its official website, CFA Institute also provides 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 2023 will be based on both the sessions.
CFA Level 3 exam schedule for both sessions
No. of Questions
2 hours, 12 minutes
2 hours, 12 minutes
4 hours and 24 minutes
CFA Level 3 Essay Questions 2023
As mentioned above, candidates have to solve vignette supported essay 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 2023 - 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 2023
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 2023 - Duration, Question Format, Passing Score
Question: What type of questions will be asked in CFA level 3 exam?
As per the paper pattern, candidates have to solve vignette supported - Easy questions or Multiple choice questions only.
Question: What is the time duration of CFA Level 3 exam?
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: Will there be any changes in the CFA Level 3 exam fee due to changes in the exam pattern?
No, exam fee of CFA Level 3 will not change.
Question: What is the mode of CFA Level 3 exam 2022?
As per the exam pattern, all CFA exams will be conducted in computer based mode only.
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Questions related to CFA Exam
how to clear CFA exam in first attempt
Try preparing smartly and efficiently.
- Be very disciplined with your study schedule. The output is more when you give 2 hours daily for 7 days then 14 hours on only weekends (generally).
- Study with the sense of doing questions and clearing exams. It will help you to clear L1 but may prove harmful for L2 as it demands deep inter-topic clarity.
Just a tip, in case you have less time and you are good to grasp new concepts - try preparing from Schwezer Notes and Videos for Level 1. But for Level 2 and 3 you have to put in the required efforts.
It is not difficult to crack CFA Level 1 without coaching. You just go through the curriculum topics one by one and do practice a lot of questions. Also in case you do not have much time, you can go through Schwezer notes for Level 1 through and practice the papers on CFA website.
In case you do not understand any particular subject, there are coachings available for particular subjects. You can opt for that rather than going for all the subjects. Plus there are video lectures available which help a lot.
Hope this helps.
CFA exam curriculum book 2020 for level 1 is showing on the website of career360 but when I click on that its showing unavailable . Will you please send the link from which I could download the pdf version of CFA book for level 1 2020
Sorry to say but we now don't have that collection,you would be talking about this links given in this (https://finance.careers360.com/articles/cfa-level-1-study-material), you might now search fee materials on google,i am providing a name(soleadea.org) i am not sure whether it is a safe site or not,get on your own risk.
Thank you ,hope it might help you
what about CFA registration and fees payment , as CFA exam is an US exam. what will have to do ??
As you wanted to attempt cfa examination as it is a designation that certifies competence and integrity of financial analysts as the registration can be done from march 26 to August of 2nd week and registration fee is USD 650 with discount and it is fee for the level 1 and level two will be in December so work for it and get good certification and it can be done from online also for USD 450 so study well and work hard to get good marks and ALL THE BEST for your future and i think my suggestions and knowledge may be helpful to u.
I need to know about cfa part 1 exam details such as fees, registration date, syllabus,exam date, exam pattern,etc.
The Level1 CFA exam is conducted in two sessions each 3 hours long. It consists of 240 multiple choice questions in two sessions of 120 questions each.
When you register for the Level 1 CFA exam you will pay a one time enrollment fee of $450 USD.
Then you will have to pay an additional registration fee to sit for the exam at each of the three levels.
Depending on when you register, you can pay anywhere from $1950 to $4140 USD total to take all three levels assuming that you pass each exam the first time.
Add the $450 USD enrollment fee, and the total CFA exam fees range from $2440 to $4950 USD.
The CFA level 1 syllabus focuses on the basic knowledge of 10 topic areas and simple analysis using investment tools.
Based on the percentage of marks distributed there are 6 most important topics that you have to focus on.
- Financial reporting Analysis
- Ethics and professional standards.
- Quantative Analysis
- Equity Investment
Cfa exam centre name in pune and mumbai
CFA exam centres are only in 7 cities in India and Pune is not one of them, however, Mumbai has centre for this exam.
In Mumbai, the exam centre is Thakur college in Kandivali east.
Sometimes when the candidates are too many, the other centres may be Nesco Goregaon and also somewhere in Worli.
You can find these locations on the maps.
Hope this helps.