2016 CFA L3 Advice and Consolidated Resouce Toolkit

Fiscal and Monetary Policy

My understanding is that monetary policy typically impacts the short end of the yield curve while fiscal policy impacts the long end. This makes sense as central banks historically controlled the (we won’t expand on current unconventional methods) controls short term rates and governmental fiscal policies impact longer term growth expectations which in turn impact the long end of the curve. Best policy and curve discussion I found out there is quoted below.

Here’s the link: http://www.analystforum.com/forums/cfa-forums/cfa-level-iii-forum/9992884

Here is a download link for Adam Runk’s bullet point list in Word and PDF format:


Just note - the numbered bullet points go from 229 - 330 missing out 100 numbers (as per the original thread). I have messaged on the thread pointing this out - if Adam is kind enough to give us the missing 100 points I shall update the files in the download link.

^Awesome - thanks for sharing!

LOTS of past CFAI L3 AM practice exams:

CFAI Page: http://www.cfainstitute.org/programs/cfaprogram/candidate/Pages/essay_exams.aspx

1999 - 2013: http://www.justlevel3.com/downloads/ Neither of these links work. Does anybody have these?

google is your friend, search “The Morning Session of the 2006 Level III CFA” and there alternative downloads on the first page of results.



Behavioral Biases: http://cfaglossary.blogspot.com/2013/12/behavioral-biases.html