morning exam - essay answers

Dear Forum,

This is my first attempt re Level 3 exam. From what I have noticed in the past mock exams answers, the institute always “repeats” in the answer the part of the relevant text given. For example, in case of equities, if the text says that “the manager is looking at company specifics such as management style, ESG considerations” etc, the proposed answers repeats this statement.

Is it always recommended to also “copy-paste” the hint words from the text, and add your own assessment/info?

Or can you forego the already given text, and just write your own answer?

What would you recommend?



It depends on the specific command word in the question.

If they tell you to answer based solely on the information given, then you want to quote the text.

The guideline answers from CFA Institute are sufficient, but generally not necessary; they add a lot of additional information so that the answer becomes a teaching tool, not merely an assessment tool.

There have been so many questions from candidates on this topic that I wrote a guide to address it. Check the link in my signature.

1 Like

Thank you, Magician :slight_smile:

My pleasure.