L3 Exam Format

So I’m a little confused. My impression was that the morning section has free-response/essay/item set questions, and the afternoon was multiple choice like levels 1 and 2. I’m going through Schweser and it just said “Questions relating to this material could show up in an equity item set in the afternoon or an equity essay question in the morning.”

So, are neither the morning nor the afternoon multiple choice?

On an unrelated note, I can’t believe the typos/grammatical errors or even how many times the Schweser answer is wrong/fails to specify necessary assumptions…or how unclear/contradictory some of the descriptions can be. Just little repeated things like “complimentary” instead of “complementary”…*bangs head*

Morning is short answer, afternoon is vingette multiple choice like level 2 (not like level 1).

As for Schweser’s note, the only thing that I think it means is that you can find that specific section being asked in the morning section where you will need to formulate the answer, or it could form part of a pm vingette where you will need to pick the answer.

You’re a L3 candidate with one week left to go and you don’t know how the exam is actually structured…good luck…

AM - All essay/short response

PM - 10 vignettes (Just like L2, nothing like L1)

Seriously, hop on the CFAI website and search for the 2013 mock and previous year AM tests (the CFAI releases these…but you probably didn’t know that)

AM is written

PM is multiple choice

It means that the same material can show up in AM or PM.

Ah, okay I had totally forgotten how the “item sets/vignettes” in L2 were multiple choice. By “item set” I thought they meant short answer or something.

That makes sense, thanks!

the morning section is short answers. you should stop reading schweser and go over some mocks asap

good luck