I just purchased mark meldrum level III package and will probably purchase the secret sauce booklet from Kaplan in the next couple of months. To study for level II I used MM package along with IFT high yield and Kaplan’s secret sauce, then did my own word docs. for formulas and concepts. I also did the EOC questions using MM review videos and then the qbanks on MM and CFAI.
I did 8 mocks: 4 from MM, 1 kaplan live, 1 WIley and then the 2 offered by CFAI. From what I’ve gathered doing plenty of AM mocks is key for level III?
I was going to study similarly for level III minus IFT I think. Any thoughts?
Also, is there a lot of value from going over the blue box examples in the CFAI books since there is less readings for level III then the other 2 levels and I am starting to study for it now? I didn’t go through them for level II.
Practice writing as much as possible, hence why the AM mocks/past exams provided by CFAI are so critical. But only ever do these under timed conditions as that is the most important factor for the AM - finishing all or as much as possible in the alloted time. In my opinion, you probably can’t go wrong with any prep provider. For the most part, the content is not the challenge with L3; it is the AM format and comprehensive nature of portfolio management.
I failed in the L3 test in last june. Then my testimonial can be considered biased.
I followed Kaplan Schweser program and I would avoid it.
I cant fault the Kaplan Schweser, but I had a lot of doubt when I was studying.
I dedicated a lot of time, probably more than 600 hours, and I made and remade a lot of exercises but even in the last two weeks I felt totally unprepared when I checked the past CFA essay exams.
Well, I dont know other prep courses, then I think follow the CFA Institute program and exercises can be more effective for this Level III exam. At least it will save more money.
If you choose to follow Kaplan Schweser program one thing that I woulld recomend is 1) read the official program to try to solve any doubt as soon as possible; 2) don’t buy the secret sauce - even to check as summarized it is very poor to help you.
I used Schweser and disagree wholeheartedly that it’s not good enough to prepare you. Whatever prep provider you use, they’ll condense the material from CFAI into the most important points. Some minutiae is left out but not enough to make a difference overall. With Schweser don’t focus on the qbank - I found that to be fairly useless for L3. Instead use the notes to get the information in a more digestible format vs the CFAI books and then focus on CFAI qbank, CFAI mock, Schweser mock, and past AM exams. Really any and all mocks you can get your hands on. And really hit the writing part hard - you literally can’t practice enough under timed conditions. That being said, don’t fall into the trap of thinking that past AM exams are indicative of what the real AM session will be like. You’re using them to get better at writing under stress and practicing applying the material. The real deal is a test and is designed to test your application of the concepts.
Totally agree. Kaplan is not enough at all when you preparing L3. L1&2 are abousltely fine, but L3 you need way more that. I purchased Kaplan and MM for the L3.