Thankfully, I have finally passed all three levels of the CFA Program, and am now awaiting CFA Charter (Taken directly from the Code!!). This was a bumpy ride for me, those bumps being my failures at L2 & L3. I am not leaving AF, but only a candidate can contribute to the L3 forum with enthusiasm and diligence One thing that I am taking from my time at AF is the high level of co-operation which made winners out of so many posters. Even regulars who did not make it this time missed it by few questions. I am certain that they will get through next year. My own contribution was minuscule owing to my schedule or poor time management, so hats off to many who were regulars. Many new L3 candidates ask when should they start studying for L3. My own experience tells me that your aim should be to approach the month of May with all readings behind you. At that time point, you should understand all the concepts behind each LOS. Reserve the month of May for exam questions, EOC problems, and text examples. Last year, I started late, and simply ran out of prep time before the exam. BTW, a google search showed me that old exams can be downloaded from: http://www.promotecareer.com/cfa#L3 I re-read, re-read (I was repeating, sigh) only CFAI texts, about 90% of time. I used Schweser for revising long readings on corp. governance, intl finance, and looking up performance attribution & global performance calculations (security selection etc.), immunization cushion, pension & WACC, where IMHO CFAI text was deficient or did not have EOC. In short, I wanted to make sure that CFAI would not be able to throw me a curve ball. Remember that the exam is fair. If the exam is tough or has ambiguous questions (Q2, AM section anyone!!), it same for everyone. When I was a band 9 last year, I knew that my low scores in economics and equity were responsible for that failure. I did not blame CFAI. There are brilliant candidates on this forum, but you have to write your own exam, so with the CFAI texts, be conservative & start early. Solve textbook problems & examples again & again. This will prepare you to ace the PM session. If you look at those PM scores, people have nailed that session. L3 curriculum is interesting. There were many Ahh moments, at least during the first run for me. When I was repeating, it was simple determination to pass the exam, and move to better things. So, for repeaters, hunker down & just do it. As a repeater, motivation is very important, especially if you were close to passing this year. Lastly, let the fear of studying one more year keep you honest. For me the better things would be a better job. This economy tells me that it will take same dedication & effort as I had to pass the exam to move up. That’s L4 for me!!