How to Prepare for CFA Level 3 Exam 2024 - Important Topics & Study Plan

The Chartered Financial Analyst Institute (CFAI) conducts CFA level 3 exam twice a year - February and August. The Level 3 CFA exam is a significant step up from the CFA level 2 exam. Having a CFA study plan and understanding the differences between CFA level 2 and 3 can help you pass the CFA level 3 exam.

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To pass the exam, one must obtain at least the minimum passing score determined by the CFA Institute Board of Governors following each exam. That implies one needs to make a study schedule and stick to it. In this article, learn how to prepare for CFA level 3 exam 2024, CFA level 3 question paper format, sample papers, CFA Level 3 tips, CFA Level 3 study plan and much more.

• How to study for CFA Level 3 - Tip 1

Start your preparation early for CFA exam level 3 - Start six to nine months ahead of time to study for the CFA Level 3 exam and finish the syllabus three months before the exam date. Many successful candidates attribute their CFA exam performance to their study habits. Learn to apply what has been learned in the exam scenario. It takes time to reach this level of understanding and actual application.

• CFA level 3 preparation strategy- Tip 2

Time devotion - One should aim to commit at least 350 total hours toward preparation for third level of CFA. Consider spreading your study out over six to nine months. Prepare for greater periods of time on specific days to earn a day off from studying.

• CFA Level 3 study tips - Tip 3

Have a firm grasp on the CFA level 3 curriculum - In the revised syllabus, the CFA Institute offers seven core curriculum CFA level 3 topics. Candidates should devote sufficient time to each subject based on its relative importance. To prepare for the topics, candidates can consult the entire curriculum and materials for CFA level 3. In both sessions of the level 3 exam, all seven basic curriculum topics are tested. Before the CFA Level 3 exam dates, candidates should devote time to all of the topics.

Topics for the CFA level 3 exam

CFA level 3 core curriculum subjects assist students throughout their professional careers. The following 7 subject areas mentioned in the table are covered in the CFA level 3 exam.

CFA level 3 topics weightage

• CFA Level 3 Exam 2024 Preparation - Tip 4

Begin with a topic that is both tough and important - One would argue that starting with a difficult one is demotivating, but handling a heavily weighted, challenging topic with a fresh mind first has a better success rate.

• How to pass CFA Level 3 - Tip 5

Learn about the CFA exam level 3 question paper format - The number of components in each question varies, as does the length of each part. The purpose of this format is to assess your ability to apply and use judgement while following a set of instructions. Before creating a study plan for CFA level 3, it's essential to grasp the CFA level 3 exam pattern. The following are the main components of the CFA level 3 exam pattern:

Sample Papers for CFA level 3

Candidates can access mock tests and practice questions which are available to all registered candidates. These mock tests are as close to real as it can get. Given below is a sample questions pdf provided by the CFA institute on its website.