LevelUp CFA ® Level III Exam Candidates often ask me about past exam questions, and the status of the use of past exams. Here’s the story for the moment:
Studying for the CFA® Level III exam is a long and difficult process. Past LevelUp Candidates mentioned one of the most helpful ways to study for the essay portion of the exam was by practicing previous exam essay questions. By seeing and working through questions asked years prior, candidates can better prepare for their upcoming exam. However, the CFA® Institute is changing the way they release exams.
For years the CFA® Institute released past exam essay questions for candidates to practice and use as exam prep. However in 2020, the CFA® Institute changed the way they create exams. Generating new essay questions every year is an expensive process. Starting this year, the CFA® Institute decided to build a data bank of all previous exam questions in order to reuse them for future exams. In addition to the cost of making new questions, they also felt some of the old exam questions did not represent the new material well. For these two reasons, the CFA® Institute is no longer releasing previous exam questions to the public.
What’s stayed the same?
The CFA® Institute will continue to offer practice questions and mock exams as preparation. Practice questions are based on lessons in the curriculum to help you evaluate your topic-level strengths and weaknesses. Mock exams are designed to replicate the exam timing and structure and are usually posted about two months before the date of an upcoming exam.
How does LevelUp Bootcamps provide unique study tools?
While the CFA® Institute’s decision not to release previous exam questions to the public stands, LevelUp Bootcamps has received special permission to use the 2016, 2017, and 2018 CFA® Level III exams in review sessions. By registering for a LevelUp Bootcamp, you will have access to previous exam questions in a classroom review environment. In addition to access to previous questions, LevelUp Bootcamp Candidates receive a four-day intense in-person session that covers nearly all of the CFA® program curriculum, detailed analogy-driven examples and slide books, and winning exam strategy for the final month. This ensures that all LevelUp Bootcamp candidates have access to every review resource needed to pass the exam.
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