If you plan to take the exam one more time, use Schweser Video Lectures

CFA Level III
#1

I passed Level 3 after my second attempt.

For my first attempt, I used the CFA curriculum and read it twice and skimmed over once. I also used Qbank and Schweser practice exams. I failed.

For my second attempt: I practically didn’t read anything. No CFA books, no Schweser Notes. In order to review the material, I used ONLY Schweser Video lectures. The concepts are well explained in the Video Lectures and the Professors immidiately answer any questions. After finishing each reading, I practiced using the Qbank. This strategy lasted for 4 months (I started in December). But I spent less time studying, not even an hour a day, including the weekends. So, video lectures saved me a lot of TIME.

During the last two months I used only practice exams, nothing else. 6 Schweser practice exams+3 CFA essay portion (previous year)+CFA mock exam+CFA practice exams (2 exams, 40$ each)+Schweser mock exam. It might seem a lot, but it isn’t because you would spend more time reading the material anyway. So, I spent time doing only practice exams. That way, I saved time and studied more efficiently. I didn’t do it, but strongly recommend: definitely solve CFA curriculum chapter end questions, DEFINITELY.

Do not think that the more you read, you more you will know. It doesn’t work that way. Reading a lot just overloads your brain and you’ll forget whatever you read by the end of each reading anyway. Therefore, memorize concepts using Qbank. Stalla mobile app is also great way to review the material if you already know them after your first attempt.

Good luck if you choose to continue the journey. I decided to go on and I am glad for my decision.

#2

Thanks for the advice.

Did you buy those materials separately, such as CFA essay portions? And when you took previous year CFA essay portion,how did you know your answer is correct? Were there answers provided?

Do you know where I can get previous years’ exam questions and answers, especially for essay portions?

Thank you.

#3

So, it’s pretty easy to get all the morning exams. I failed but I went pretty far back, just change the year in the hyperlink below and it should give you the exams to practice off of. Then, after you know you nailed it and you answer questions according to guidelines…ya know, with brevity, CFA institute will still find a way to murder your answers and give you a band 9 or 10. Good LUCK! I’ll be around the forum this year…i ain’t failing again.

http://www.cfainstitute.org/programs/cfaprogram/courseofstudy/Documents/level_III_essay_questions_2011.pdf

http://www.cfainstitute.org/programs/cfaprogram/courseofstudy/Documents/level_III_guideline_answers_2011.pdf

#4

I guess Riptrix answered the question about previous year CFA exams.

AM questions are always tough. When you practice, you might find them easy, but it would be misleading. AM portion always suprise candidates, even the ones who passed.

Just continue the journey and hopefully you’ll pass next time. I remember this time last year I was in a depressed mood for about 2-3 weeks, but it will pass. Don’t take a break because the materials might change. In my case, 99% of content stayed the same from 2012 to 2013. I was lucky.

#5

Thanks Riptrix.

Essay portion is the key I think and I hope I can clear this year.

#6

LoW - maybe your strategy worked because you knew most of the material anyway?

As I posted in another thread, I did not find QBank and videos all that helpful.

#7

Compared year 2012 and 2013 exams, 2013 is a lot easier, to me.

It was a chance I did not take it. I am not sure if the window will open again?

What is frustrating about this test is there is always a chance to fail no matter how good you feel about your preparation and performance.

It is not a question of giving a correct answer. It is confidence.

Pray it will come back for all the retakers.

#8

Yep, that’s pretty close to what I did to pass L2… I watched the Schweser videos then jumped straight to doing Finquiz problems. I only started reading (notes or CFAI text) if I repeatedly got questions wrong that tested the same concept.

Glad it worked for you… looks like I’m gonna continue this approach for L3!