What's the score to beat for L3?

Random question but what is the target “score to beat” for level 3? I feel like on level 1 and 2 you often hear the general saying that scoring above a 70% should mean you are in good shape. I know there is no transparency as to a passing score from CFAI but I’ve taken a few written and multiple choice mocks and I’m looking to benchmark myself a bit, to understand how far off I may be. Does anyone have any insight or anecdotes that could shed some light? (Aside from the “shoot for 100%” type of guidance).

In the spirit of sharing I’m averaging low 60% for written on past CFAI exams and mid to high 60% for schweser mocks for multiple choice. I’ve spent a good deal more time with the written type questions/subject matter, which I feel differs in content from the MC stuff. Would also welcome hearing how others are faring in the two parts of the exam as well.

From what I’ve heard, a 60 AM and 70 PM should be a pass, although some will say now that 70-70, but people in this forum usually overreact and overstudy.

There is an interesting level 3 calculator, search on Google “CFA Level 3 MPS Resource Tepee”

I’m also getting around 60% on AM and close to 70% on PM. With 40 days to go and 5 days off before the exam, I hope I will drive that to a comfortable 70-70

Cheers up!

My guess is that over 65% overall is fine.

My targets are around 50-55% for AM and 80-85% for PM

My target is 50% for the AM and 70% for the PM

I doubt that I got 70% & 70% for the previous levels. I never once got that in the mocks. So I will take my chances and hope that it all works out.

aim at 2/3 in composite so AM>=50 & PM>=70 as a guidance

Still have not started mocks at all.


I think that would be closer to band 9 or band 10 score. I got band 8 last year and my 40/60/80 was 45% in the morning and 66% in the afternoon. I think I probably did considerably better than what those percentages came out to in the afternoon though, and probably worse in the morning.

^40/60/80 scoring matrix doesn’t work for the AM session.



^^^ Mhmm…got 'em! So juicy!

Shoot for 80/60 with the 60 being the essay and 80 being the vignettes. Once I started getting “comfortable” with the essays I saw my scores in the vignettes dramatically increase. If I could guess I’d say I got above 80 in the afternoon and below 60 in the morning. If you’ve read the CFAI material all you can do is practice practice practice, you know what they say it makes…

At which point did you start getting comfortable? How uncomfortable were you initially. Are the solutions in the EOCs too much detail?

Thank you for the heads up. Need to relook at my strategy. Finding it quite tough going, I must admit.

I would guess somewhere around 65%.

I started to feel comfortable probably right around this time last year, early/mid May. I took 8-10 mock exams and by #6 I was feeling really good and that confidence went a long way. I think the more detail the better with the EOC’s. Use them as a study aide. I know it’s a lot of reading for some of them, but put in the time for the next month and you can take the entire summer off. Almost there! Good luck.

dub.c, do you remember what types of scores you were getting on the morning mocks, especially towards the end? And how did you feel during the exam relative to those mocks?

I was getting between 60 - 65 on the last 3 or 4, at the same time averaging between 45 - 50 out of 60 on the evening. Time management wise I felt that the mocks didn’t prepare me well and the exam was much more difficult. The last couple mocks you do you should set a timer for 2 1/2 hours to prepare for the real thing.

So, what is the target score for AM and PM?

I still have around 8 (AM+PM) mocks to finish. My actual score is around 58% for AM and 65% for PM.

im scoring in the low 60s for both AM and PM. I’ve heard that a 65 should be okay but isnt a guarantee of passing. You should still shoot for 70