Level III exam format


Is the morning session divided into topics like for level 1 and 2? I understand that this time we have Essays, but are they grouped by topics like: Fixed Income, Derivatives, Portfolio Management etc… What about the afternoon session? Are the multiples choice divided into topics? (Ethics, Equity etc…) Thank you for your help.

Since it seems you haven’t done so yet, I highly recommend logging into your CFAI portal and taking a look at the past year’s AM exams. The past three year’s of exams are available there and looking them over will answer your question. You should also print them and practice them.

For the PM session, it’s item sets with 6 multiple choice questions just like the Level II exam.

Wow. That’s invaluable advice you are giving me here. I made it all the way to level III without knowing that. But more seriously, it is better you don’t answer if you have nothing interesting to say.

It would be quicker and more beneficial to log on to the CFAI website rather than make such posts on this forum.

AM section is grouped by topics as you mentioned. PM format is exactly same as Level II.

JayWill’s advice was for your good. I don’t see any point you getting offended like that. All the members in this specific forum are CFA Level III candidates, so no use showing arrogance/ego to anyone.

Thank for the clarification. Regarding JayWill: He is the one being arrogant. His behavior was condescending. I hope this topic is closed. Thank you

How was he being condescending? You are asking a question which shows you haven’t looked at the past years exams, which are available to you. He was giving solid advice.

Agreed, and there is no room for nonsense egos here. There was nothing snarky in JayWill’s answer. Perhaps focusing on behavioral finance will do you well. If you are so adept at helping yourself Mark666, then by all means knock yourself out.

I’m not sure how what I posted hurt his feelings, but oh well. It’s the internet and text and things can get misinterpreted sometimes. No biggy.

Pre-exam nervousness has started with Jay as collateral victim in these postings.:slight_smile: Nothing to worry about.

Guys, I downloaded the Mock exam available on the CFA website. There is no Essay questions, this is all multiple choice. I have the AM and PM mock exam. Can somebody explain this to me please?

The past year’s exams are not in an obvious place on the website for some odd reason. They can be found on this page (need to be logged in): https://www.cfainstitute.org/programs/cfaprogram/candidate/Pages/level_III_essay_exam.aspx

Cool thanks a lot Jaywill :slight_smile: Happy to see you dont hold grudges!

Naw, there’s no point in that. We’re all in the same boat here and its crunch time so emotions can run high. I get it.

^ I’m glad to see you fell in love with each other:)

Glad we could see this one work out. We’ll be back in two-and-two.


glad to see that love is still in the air

ahahahah :slightly_smiling_face: