How should one approach level III? Any suggestions?
With a lot of skepticism.
L3 topics are deceptively easy.
Then you go to exam day and get violated.
study hard and understand
http://www.analystforum.com/forums/cfa-forums/cfa-level-iii-forum/91314742
http://www.analystforum.com/forums/cfa-forums/cfa-level-iii-forum/91314226
These are two threads which tell you everything about preparing for L3… I would like to add my couple of points from my experience as well (as you can see from my status, I have still not passed the exams - so you are free to take that or ignore it completely)…
- Take hell a lot of practise exams especially the essay part. Multiple reasons for that actually,
a. If you dont have the habit of writing, gets you that habit back. Much needed for the exam because you need to improve your speed…
b. Use intuitive shortforms where you can. Remember the guys who correct are charter holders as well and they know (probably) better than you & me. I strangely practised that at my personal exams, but on the original exam I was unnecessarily more verbose than I should have been.
c. Makes you think and sometimes you can get stuck in a simple word and you dont know what other word to use in place of the same 
Not sure if it happens to everyone, but I was struggling for the word “strategy” in one of the personal mock exam papers :)) The more you write the better it works…
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Do not ignore the PM exam totally. Take sufficient practise there as well. Remember there have been instances in the past were people got screwed in AM and passed the exam based on their superior PM scores.
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Do not game the exam. Lot of the topics would appear too easy, but CFAI can surprise you very well here. They did it to me and lot of other folks in 2013
Nothing is more important, nothing is less important. Remember you can get essay questions on these topics and if you dont know specific terms you are in for a shock as you just wont be able to answer… 2012 AM has a couple of questions and you would understand if you look at that paper. -
After finishing each Reading or Study Session, see if you can write down top 10 things you learnt in the session… This was suggested to me by a friend and this helps you get a bigger picture and sometimes helps you connect one Study Session to Another… And in L3, its very very important to have the bigger picture.
Good luck and pls wish us well for the results as well
1 ) Read curriculum and answer schweser EOC questions = 80 hours
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Watch video lectures and make note cards = 50 hours
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Take every practice exam under the sun. Go problem by problem or item set by item set at first. See why you got it right or wrong. Make note cards. = 100 hours
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On exam day, skip the longwinded Portfolio management questions in the beginning. Hum through the rest of the morning quickly, not wasting time to double check anything. Then go back and answer the Port Man questions. On the afternoon, plan on being done an hour early.
Hmmm…like the posts on here, I am yet to pass level 3, so you may likewise ignore my posts.
However, from my observations and comments from charterholders, the am session on the level 3 exams will most likely be more challenging. This argument is supported by 300 hours. Their analysis shows that 96% of the sampled candidates did better in the pm session.
To why the am session is somewhat tougher. The reason may not be far fetched. I think that we tend to write a lot; almost over explaining the matter ignoring the fact that the markers are charterholders as well. This is not an exam where you write as if the marker knows nothing about the curriculum. Tough to execute on the exam day, but easier to write in bullets for mocks. You may need to try harder on this so as not to be pressed for time. Many screw up with time in the am session.
Secondly, you need to take plenty practice exams for the am session. I must say that it is more convenient to take the pm session practice session as you do not need to write as much. However, do not fall into the trap; take more of am session practice exams. I advise you take more of am session than even the pm session.
Conclusively, you may have noticed that we delved more into the challenges inherent in the am session, but do not be mistaken. The pm session is still very significant, infact equally significant. Quite frankly, if you must pass level 3, I reckon that you must aim for at least 80% in the pm session. You will end up realising that the majority who pass level 3, do so because of the outstanding result in the pm session. Therefore, I am tempted to say that you must ace the pm session to pass the level 3 as the am session may always be subjective.
All the information is much appreciated and yes Good luck for the results!!
Many of us cannot give that information since we do not know of our success.