Actually, Level III is the most difficult!

Level 2 feels like a walk in the park after studying all Level 3 material. It’s definitely the hardest in my books.


Couldn’t agree more!!


Level 3 used to have an over 70% pass rate… Times have certainly changed, but the older folks still think level 2 is the big hurdle… Haha!!

300,797 people have passed level 2 but only 209,561 people have ever passed level 3…

Actually is. But only because of AM session.


In Level 2 you can be confident after doing several mocks but not in L3 even after doing all AM exams. The AM portion makes it completely different ballgame.

I feel this, I don’t think the material is more difficult, but it is so massive in terms of content, and the morning session takes a different strategy to prepare and takes so much time and energy

The funny part is, it’s actually less pages of content than Level II. But it’s quite a bit more qualitative, and that along with the written AM portion is really what makes this exam difficult. I put 600 hours of work into Level III and I’m still nervous. I know a lot of the material, but you still question whether you know enough to answer an AM question correctly using your own words.

I know I get a little annoyed when people at work say “Level III, oh that’s the easy one, you passed II so you’re free and clear.” I bet a lot of the reason people fail is because they buy into that mindset. Retaker in my office didn’t even take a mock last year. I did 10 AM mocks and struggled to get into the 60s, so if I fail and I have to hear someone say that again my head may explode.

I did a ton of mocks last year and still failed it… Uhhh, did even more this year… Hope tomorrow goes well but who knows… That is the beauty of Level 3…

I would like construct probability of passing model as a function of dependent following variables:

  • total number of studying hours
  • total number of full mocks taken
  • total number of AM taken with revision of each
  • total rounds of TT taken
  • total rounds of EOCs taken (official)
  • with weight factors applied to each variable.

I bet y probability variable must be high.

Dont even get me started, I am now doing final reviewing and am constantly being hit by topics that I have studied but just don’t remember and in the final weeks I didnt have time to go over them again because I had to allocate dedicated hours to AM sessions, now I am looking at some topics I studied long time ago, e.g: derivative calculation which I covered EOC twice, I don’t remember a thing, and just went through different spreads and collars, only remember the bare minimum. We will see how tomorrow goes

Yeah same here. Studied a ton. Quite frankly I think this year in my preparation my writing quantity went down, which saved more time. And yes, it is the beauty of L3…esp the AM.

Agree. I put the most hours into Level 3 and it was my worst matrix. All because of the AM portion, but yeah.

Good luck everyone!

hahahahahaa oh boy… good luck tomorrow everyone! Keep your chin up and try to go in as confident as you can be. Remember, life is much more than a single pass or fail on an exam. Much love.

this thread is created every year hahaha

the material in l3 is easier, but it is definitely harder to pass. keep in mind that these tests are tiered. everyone in l3 passed l2, so even if the pass rate is higher in l3, the quality of candidates you are competing with is much higher. basically it makes sense for passrates to go up, as you move up the levels.

Oh man, can I borrow your brain for tomorrow’s exam Flashback? please?

Hahaha…Good luck to everyone! At least one thing, no more studying for some period.