Prepare for success on the 2023 CFA Level III exam with the latest official CFA® Program Curriculum. Show The 2023 CFA Program Curriculum Level III Box Set contains all the material you need to succeed on the Level III CFA exam in 2023. This set includes the full official curriculum for Level III and is part of the larger CFA Candidate Body of Knowledge (CBOK). Designed to acclimate you to the exam’s heavy reliance on information synthesis and solution application regarding portfolio management and wealth planning, the Level III curriculum will help you master both calculation-based and word-based problems. Highly visual and intuitively organized, this box set allows you to:
The set also includes practice questions to assist with your recall of key terms, concepts, and formulas. The volumes in Level III’s box set are:
Perfect for anyone preparing for the 2023 Level III CFA exam, the 2023 CFA Program Curriculum Level III Box Set is a must-have resource for those seeking the advanced skills required to become a Chartered Financial Analyst®. CFA exam is a series of 3 exams. Level 3 is the last exam of the series. To take your level 3 exam, first you need to pass your level 1 and level 2 exams. Passing all the 3 levels is a prerequisite for getting your CFA designation. In 2021, CFA exam moved to computer-based testing. As of 2022, level 3 is going to be held twice a year. In 2022, it was May and August and – as of 2023 – it's going to be February & August. This is the most recent change introduced by CFA Institute to the CFA exams schedule. Its aim is to release the level 3 exam results sooner than in the past while still making the level 3 exam available to CFA candidates twice a year. In 2023, level 3 CFA exam dates (windows) will be available in February and August. The registration for the 2023 level 3 exams is now open. Note higher exam registration fees, both early and standard! Each time you register to take and retake your level 3 exam, you'll have to pay a specific exam registration fee. The amount of the fee depends on when you choose to register for the exam. Before you register, check if you're eligible for any of CFA Institute scholarships. They can reduce your exam cost substantially. Importantly, the 2023 level 3 CFA exam fees increased by USD 200 for both early registration and standard registration. The early fee for 2023 level 3 CFA exam is now USD 900 and the standard fee is as high as USD 1200. Note: The deadlines end at 11:59 p.m. ET. 1. CFA Program Curriculum ContentsIn your curriculum, you will find 7 topics, not 10. You will no longer be tested on Quantitative Methods, Corporate Finance, nor Financial Reporting and Analysis. At this exam level, the major focus is on Portfolio Management and Wealth Planning with the weight of 35-40%.
Since Portfolio Management represents 35%-40% of the level 3 CFA exam, you'll find the following sub-topic distinctions for your exam questions:
For results reporting, Portfolio Management is grouped into two sub-topic categories:
2. New 2023 Level 3 CFA Exam FormatThe level 3 CFA exam consists of 2 exam session, 132 minutes each, with an optional break meanwhile. As always, also in 2023 it will include both constructed response questions alongside item sets that you will already know from your level 2 exam. However – as of 2023 – some important changes to the level 3 CFA exam format has been introduced. If you previously took your level 3 CFA exam, you will know that constructed response (essay) questions used to be included in the first session of the exam, while item (multiple-choice question) sets comprised the second session of the exam. Starting in 2023, each exam session will contain both some essay sets and some item sets. There will be 11 essay sets and 11 item sets altogether. So, in each session, you can expect either 6 item sets and 5 essay sets or 5 item sets and 6 essay sets. This change is due to the difficulties that level 3 CFA candidates used to have when taking the essay session. While they consistently lacked the time to do all the constructed response questions, they felt there was an excess of time during the item set session. Now, the time and difficulty should be easier to handle with the new adjustments to the level 3 CFA exam. Level 3 Essay Questions & Item SetsLevel 3 CFA exam constructed response questions are open-ended, essay questions that begin with a case study (vignette) followed by several related items (questions/problems to be answered). Some of the items may be multiple-choice questions but the majority will require your written response. All questions must be answered based on the information in the vignette. An essay set may have a variable number of items (each one is worth a variable-number points). Points per item are not disclosed. Note the bolded command words (e.g., explain, justify, determine, calculate) given to guide you through the answer process. Remember that constructed response questions cover specific topic areas and require clear and accurate answers! Level 3 CFA exam item sets are structured like level 2 CFA exam questions, i.e., they consist of a case study (vignette) followed by 4 multiple-choice questions (each one is worth 3 points). All questions must be answered based on the information in the vignette. Topics may be placed randomly between the sessions. Also, each vignette (both for essays and item sets) will be topped with information about the TOPIC and the total number of points possible to score, e.g.:
To sum up, the new CFA exam CBT format is still changing. The total testing time is now reduced to ca. 4.5 hours and:
Set Up FREE L3 Study Plan FREE L3 Study Plan 3. Level 3 CFA Exam Results: Longer Waiting but Higher Pass RateLevel 3 candidates always have to wait for their results a bit longer than level 1 and level 2 candidates. It's due to the open-ended questions which take longer to grade. Usually, level 3 results were released roughly 9.5 weeks after the exam. For CBT level 3 exams, results may be released sooner, probably 7-9 weeks post-exam. As for the FEB 2023 level 3 CFA exam results, the soonest probable date is: AUG LVL 3 EXAM FEB LVL 3 EXAM * This is our educated guess. In the past, the usual pattern was: exam date + 9.5 weeks + it was Tuesday or Thursday. CFA Institute says that for computer-based exams, the results are likely to be released sooner than in the past. The good news is that the level 3 pass rate is higher as a rule than level 1 and 2 pass rates. It used to exceed 50%! Now, it's around 40% but compared to the new level 1 and level 2 CFA exam pass rates – it's still pretty good! LEVEL 3 PASS RATES IN YEARS 2016-2021: 2016: 54% When you pass your level 3 exam, meet other CFA Program requirements to become a CFA charterholder. Is 3 months enough for CFA Level 3?You should aim to commit at least 344 total hours to your Level 3 CFA exam preparation across the six to nine months of study.
When can I register for CFA Level 3 2023?Feb 2023 Level 3 CFA Exam Dates
So, the Feb 2023 level 3 CFA exam registration also opens on 10 May 2022 and closes on 8 Nov 2022. Moreover, the scheduling window also opens on 10 May and closes on 16 Nov. However, the Feb 2023 level 3 exam window is from 21 to 23 February.
Does CFA syllabus change every year?The CFA Institute's curriculum for the CFA Exam is updated annually and can be found on the CFAI website, which candidates can easily access.
What topics are covered in CFA level 3?What Subjects are Tested on Level III?. Ethical and Professional Standards.. Economics.. Equity Investments.. Fixed Income.. Derivatives.. Alternative Investments.. Portfolio Management and Wealth Planning.. |
