Introduction To CFA Level 3
If you have passed the first two levels of the CFA program, then you just can’t wait to complete the finishing level of the course and win the title of CFA or Chartered Financial Analyst. It is the last exam in the series and the Chartered Financial Analyst Institute has already issued the exam structure for CFA Level 3 2021. This exam is conducted every year.
What Is CFA Level 3?
One can qualify for the CFA Level 3 after passing CFA Level 1 and Level 2. It is the finishing line to get the CFA degree. Candidates are needed to pay for every take and retake Exam 3. The time of registration decides the exam fee. Scholarship candidates can get some concessions in the CFA Exam Level 3 Fees.
Key Takeaways
- CFA 1 has already issued notification for the CFA Exam Level 3 and important dates are already declared.
- The exam concentrates on portfolio management and wealth planning, so the candidates will gain comprehensive knowledge while preparing for the exam.
- The exam is a computer-based test and has a duration of 4.5 hours. The exam is divided into two sessions of 2.25 hours each.
- The syllabus focuses on 7 core curriculum topics. Aspiring candidates can review last year’s exam papers to get ideas about the exam. Also, the mock test conducted by the CFAI body proved to be beneficial for the candidates.
CFA Level 3 Exam Date
The conducting body has already closed the registration window for both the sessions for the exam. The previously declared timetable is reformed due to the pandemic of Covid-19. So, aspirants need to keep eye on the revised dates now.
The revised timetable for the CFA Level 3 is given below:
| Event | For August Session | For November Session |
| Registration open date | – | August 20, 2020 |
| Scheduling opening date | – | February 02, 2021 |
| Early bird registration | – | May 04, 2021 |
| End date for registration | April 22, 2021 | July 20, 2021 |
| Scheduling closing date | May 28, 2021 | August 15, 2021 |
| Rescheduling deadline | August 01, 2021 | October 23, 2021 |
| 2021 exam date | September 01 to 08, 2021 | November 23 to 25, 2021 |
| 2021 result | Not specified | Not specified |
CFA Level 3 Exam
- The exam duration is 4.5 hours.
- The exam is conducted in morning and afternoon sessions.
- Normally, each section has 8-15 constructed response-based questions and multiple-choice questions with four choices.
CFA Level 3 2021
- The exam paper is similar to previous phases, but there are essay-type questions are included in this exam.
- The exam paper will contain a combination of essay and item set questions.
- The exam typically follows 8-15 essay-type questions.
- The exam nature is similar to previous years’ pattern but there is a slight change in exam duration and computer-based test.
CFA Level 3 Syllabus
The first two phases of the CFA exam mainly focus on corporate finance, quantitative knowledge, financial analysis and reporting. But the finishing exam is more concerned with portfolio management and wealth planning.
The syllabus covers 7 core subjects and 38 readings.
The subject name list and their weightage are tabularized below:
| Sr. No | Subject | Weightage |
| 1 | Derivatives | 5-10% |
| 2 | Alternative investments | 5-10% |
| 3 | Economics | 5-10% |
| 4 | Ethical and professional standards | 10-15% |
| 5 | Equity investments | 10-15% |
| 6 | Fixed income | 15-20% |
| 7 | Portfolio management and wealth planning | 35-40% |
CFA Level 3 Mock Exam
- To get the idea of the complex CFA exam papers, the conducting body CFAI held CFA Level 2 Mock Exam.
- Candidates can get ideas about the nature of the exam paper, questions structure.
- The mock tests are beneficial to evaluate the candidate’s preparation.
- The realistic experience of giving an exam enables the candidate to stimulate the complexity, duration limit, interface of the exam.
Conclusion
If you have dreamed of making a bright career in the finance sector, then a CFA degree will make you high lightened in the crowd. The exam is the finishing exam to achieve the renowned degree of CFA. Complete your dream with hard work and dedication and ensure a shining future.
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