How to pass Level 3

CFA Level III
#61

Hi Trimonious2, congratulations on the achievement !

#62

Dear trimonious2,

Your post is a Godsend. Printing it out and stapling it to my study schedule. Thanks again.

#63

I think on this forum we should ban the phrase “essay questions” It is msleading and even CFAI stopped using it years ago. The AM questions are “written response questions”

#64

@L3Crucifier

You think 50% is luck? That’s a high percentage. Luck obviously plays a big part of it, no doubt about that. However, if you’re worked hard to cover the curriculum, there really shouldn’t be too many surprises on exam day in terms of content. Obviously the way they test that content is a different story. You have to be somewhat smarter than 5% in order to pass level 3. Granted, it’s not as complex as level 2 but, you have to capable and smart enough to recall topics from different areas of the text to write clear concise answers in a stressful time sensitive environment. I would say handling pressure on the exam day is a big factor. I freaked out on both AM & PM at certain points due to the pressure I put on myself to pass. In retrospect, I performed really well on the exam indicated by the sections greater than 70%, so worrying after the exam is my biggest regret. What a waste of energy…

Anyway, the best advice I can give on exam day is that no matter how badly you think the AM section went, because believe me, you will not feel good about it, put it out of your mind as best as you can and focus your energy on the PM section. Everyone feels the same way after the morning section. Just don’t let it affect your performance in the afternoon,

#65

Amen brother. It ain’t over till it’s over. I had a brutal a.m. session. Even ethics this year was tough, so afternoon started a bit rough. But I held it together and pulled the pass out. No section under 50% in the p.m. despite having my lunch handed to me in the morning.

And don’t beat yourself up after the test. It is over. I regret puttin my family though it. All I remembered was the a.m section that kicked my arse. I thought I did well in the p.m. but I didn’t recall that in July. Even keel, approx low 60’s gets you a pass. That is a key thing to remember.

#66

I hope this helps

#67

It seems that there is hindsight bias here :slight_smile:

I’m just kidding. Anw, thank you trimonious2

#68

Good luck, everyone!

#69

Another bump for 2013 candidates. 2 months to go, everyone! Let’s do it!!

#70

LOL, ur not only awesome (for providing us with great insights), but funny too ^^

#71

The key to passing ANY CFA exam is practice, practice, practice via Scheweser questions and examples; practice exams; and CFAI mocks. For Level 3, also did the blue-box examples as well as EOC. Practice till you know the answers by heart.

#72

bump for L2 passers

#73

Any comments about what to do with my previous Schweser and CFA materials? Should I discard/donate them? Is any of that stuff useful in passing on the first attempt?

#74

storlab, 1st attempt passers don’t refer previous lvl books. Means, you didn’t keep them in memory. How will you pass in 1st attempt?:slight_smile: Just throw them or keep it. What is the big deal?

#75

best post a new L3 candidate could ever come across!I just passed level 2 and this for me is GODSEND.i have actually saved this post and sectioned it under my L3 folder.lol.I will go over this piece of advice again once I start studying and make sure I keep on top of everything you have mentioned.Thanks!

#76

Great info

#77

^ This.

#78

This is great Trimonious2. I am a new Level 2 passer and this stuff is really great for me to prepare for L3.

Great advice !

#79

Trimonious2 posts very good advice. Here are my two cents (even though I still don’t have my test results):

  1. Work EVERY SINGLE BLUE BOX, then repeat, then repeat.

  2. Do every single end of chapter question, then repeat, then repeat.

This will help immensely with the AM session.

#80

Good Advice … Thank u … for information. It gave me good understanding of exam emotions. Keep the good work up. This will help many candidates. As no one really has such a patient to advice. Some people may criticize u but they r are very few. But most people may like u. As u covered most of the parts important to approach n pass exams. Thank u so much I pray u stay always happy n like these n get a good job. Thank u so much