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CFA Level 3 is the final exam in the CFA Program, and the final step to becoming a Charterholder (after meeting the work experience requirement)
The big difference with CFA Level 3 is the essay section. These are not long form essays, we should think of this as the "writing section" or "free response section." It just means you need to provide the answer, it's not multiple choice.
The biggest challenge on the writing section is running out of time. Most people do not finish all the exam questions in the time allowed. If you can answer questions quickly, concisely, and get something written down for every question, you will already have an advantage.
Practice by doing - do as many old exam questions as possible. Study the grading rubrics to see exactly how the graders will award points for each type of question.
Always write your answers out fully when practicing so it is natural for you on exam day. If you are doing computer based testing (CBT), then practice typing out answers in the online portal, either with the formula editor, or with your normal keyboard.
When taking the actual exams, skip questions that look difficult and time consuming. You want to get all the easy questions out of the way first to be sure you're not losing easy points in case you don't finish the exam in time.
Pay attention to words like justify, describe, or calculate in the questions, so you know what the graders are looking for. If the question asks for 2 reasons to justify an answer, only give 2 reasons. The grader will only look at the first two that you give, and you don't want to waste time writing more than necessary.
For the multiple choice section of the Level 3 CFA Exam, follow the same principles that helped you pass levels 1 and 2. Focus on doing as many practice questions as you can.
One trick you can use is to pretend you're teaching someone else while you're answering a question. We remember a lot more once we understand a concept well enough to explain it to someone else in an easy to understand way.
Don't underestimate Level 3, you are competing against the best of the best!
Good luck on your final step to becoming a CFA Charterholder.
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- TIMESTAMPS -
0:00 Intro
0:04 The "Essay" Section
1:16 Old Exam Questions
1:45 Computer Based Testing
2:20 Practice the Writing Section a lot
3:47 Skip Difficult Questions on Exam Day
4:19 Multiple Choice Section
5:18 Study Tips
5:54 Overall Difficulty
22 июл 2024
