Having gone through book 4 and 5, it seems that the material is qualitative / recall heavy. Is the l3 exam mostly recall for essays, and identification for MC? How much calculation questions should we expect?
expect the unexpected
Since 1999, about 8% of the Level III morning session command words have been either calculate or compute. Some portion of the determine command word questions (~ 19% of all command words) involve calculations as well. So, conservatively, I’d say that 10% – 15% of the morning exam answers will require calculations.
That’s good to know! Do you know where we can find the command word stats for the afternoon sessions?
Also, thank you for the your help so far. Your responses have been very helpful in passing l1 and l2.
The afternoon session doesn’t have command words, per se.
Because CFA Institute has not published the multiple choice exams and answers, it’s impossible to know what percentage of those questions involve calculations. I compiled my own statistics on the Level III morning session questions.