Level 3 CFA
Exam prep

More than 50% of candidates fail the Level 3 CFA exam. With so much riding on your results, you don't want to be one of them. Say hello to Exam Success.

Easier to prep, easier to pass

A radically simplified approach different from anything you've tried before

Types of Candidates we helP

Does this sound like you?
"I already know a lot of this...

Our resources are designed for candidates who have strong academic backgrounds and just want the need-to-know material to pass the Level 3 CFA exam.

"I failed, now what...?

Our resources are designed for candidates who are repeating Level 3 and just want a quick and concise way to help fill knowledge gaps.

"I don't have time to study...

Our resources are designed for busy, confident Level 3 CFA Program candidates who are looking to just pass and get on with life.

How we help You

Pass your Level 3 CFA Exam

The Level 3 CFA exam (Portfolio Manager's Exam) is made up of Item Set questions, and Essay questions — the main source of pain and where Exam Success helps you ratchet up the points. Here in the home stretch, Prof. Gordon's winning study solutions help you correctly interpret the questions and construct the essay answers using the right keywords, writing style and structure, all in the right amount of time.

WHAT TO EXPECT FROM OUR 

MATERIAL


  • Pinpoint your weak areas and close any knowledge gaps, while eliminating common study traps and roadblocks.
  • Identify highly testable items and must-know concepts, while filtering out the distractions.
  • Boost your knowledge retention and painlessly review and recall key concepts all the way to exam day.
  • Gain the edge over other candidates with our proven tips and strategies that connect the dots and crack the exam code.

Get what you need

study packages or individual study products

study
packages

Prepare to crush it from start to finish with a comprehensive Level 3 CFA study bundle. Compact, versatile and modular in design, whichever value package you choose  — Total or Plus — you can't go wrong.

individual study products

Get the targeted prep push you need to firm it up fast with our Level 3 CFA stand-alone study solutions.  Curriculum summaries, review questions, personalized instruction, and more... they're perfect for the job.

Pass with Prof. Gordon

CFA, CFP, CIM, MBA, FCSI

For the Level 3 CFA exam, Exam Success students prepare to pass with one of most talented and experienced CFA Program exam prep designers and educators in the profession, company founder and Canada's own Prof. Brian Gordon, CFA, CFP, CIM, MBA, FCSI.


Brian's powerful no-nonsense study solutions for the Level 3 CFA exam leverage his 20+ years of proven CFA Program prep know-how, and do the hard work for you. They cut the fat, simplify the material, fire you up and show you precisely where to invest your time, efficiently guiding you with a strategic roadmap to exam success. Exam Success, your simplest path to a pass... and a better life.

See Why Our Students Are Smiling

Big Help

"I often talk about Exam Success CFA prep services. I very much enjoyed and benefited from your terrific teaching. It went a long way towards preparing me to pass."

Matthew TOntino

Top Score

"Prof Gordon's enthusiastic is infectious. His CFA review course helped me to understand the concepts, the exam tactics and pass the Level 3 exam (top 10 percentile globally)!" 

June WanG

Fast Tracked

“I was in your Queen’s CFA review. Happy to share that I cleared the Level III exam. Your material did help me fast track! Woudn’t have been possible without you."

Mitul PateL

Frequently Asked Questions

How do I register for the Level 3 CFA exam?

You must register to sit the Level 3 CFA exam directly with CFA Institute at: https://www.cfainstitute.org/en/programs/cfa/register.

Level 3 CFA exam registration prerequisite: Pass Level 2 CFA exam.

How much does it cost to write the Level 3 CFA exam?

CFA Exam Registration Fee
You will be required to pay a CFA exam registration fee each time you register to sit a CFA exam.

CFA Institute offers two tiers of pricing (early and standard). The price you pay will depending on when you register for the exam.

Effective for February 2023 exams, CFA exam registration fees will increase from USD 700 to USD 900 for early registration, and from USD 1000 to UDS 1200 for standard registration.

Source: https://www.cfainstitute.org/en/programs/cfa/exam

When is the Level 3 CFA exam written?

For 2022, the Level 3 CFA exam is being offered 2 times. The 2 exam windows are: May and August.


For 2023 and beyond, the level 3 CFA exam is expected to be offered 2 times per year. The 2 exam windows are: February and August.

What are the Level 3 CFA exam pass rates?

Since 2010, the historical CFA pass rates for the Level 3 CFA exam ranges from 39%-56%. The 10 year historical pass rate is 52%. (CFA Institute stats 2012-2021). Source: https://www.cfainstitute.org/-/media/documents/support/programs/cfa/cfa-exam-results-since-1963.pdf

The passing score is set by CFA Institute and is not released to the public, although research suggests it ranges in the area of 60 - 70%.


Exam Success has been facilitating the CFA Program prep process for over 20 years. Although quoting passing rates is not permitted by CFA Institute, probably since they aren't verifiable and can be misleading, we can tell you a few facts about Exam Success worth considering:


We're proven. We're Canada's longest serving CFA Program exam prep provider, since the introduction of the Euro.

2.We're respected.  We're voted #1 in the business. (2019 Top Choice Award Nominated.

3. We're trusted. We have a student satisfaction rating of more than 98% (student survey results 2014-2019).

4. We price in CAD, not USD (meaning our prep is are easier on the wallet than most others)


And if that's not enough, we are also offer free repeat privileges!

How hard is the Level 3 CFA exam?

FOCUS ON PORTFOLIO MANAGEMENT & ESSAY WRITING

Referred to by CFA Institute as the "Portfolio Managers Exam", the Level 3 CFA exam focuses on wealth planning and portfolio management, and many of the questions are posed in essay form. 


The Level 3 CFA exam is the only one of the three that uses this format and the essays are considered by candidates to be the hardest part of the Level 3 exam. This feeling is reflected in the lower scores of the morning essay-question section compared to the afternoon multiple-choice section of the Level 3 exam. The morning section requires a new skill of answering open-ended questions without the multiple-choice answers to select from. The keys to success on the Level 3 exam is practicing as many essay type questions as possible and harnessing your comprehension of portfolio management, the topic at the core of the Level 3 CFA exam.


According to UK NARIC (the national agency, managed on behalf of the UK Government responsible for providing information, advice and opinion on vocational, academic and professional skills and qualifications from all over the world), the CFA exams have been benchmarked individually by Level under UK Regulated Qualifications Framework (RQF):

Level 3's difficulty is comparable to a Master’s degree (Level 7 qualification under RQF).

What are Level 3 CFA exam weights by topic?

The topics and topic weights on the Level 3 CFA exam are subject to change on a year-to-year basis, at the discretion of CFA Institute. Here are the Level 3 CFA exam weights by topic. Source: https://www.cfainstitute.org/en/programs/cfa/curriculum


Exam Success
Topic Modules

(10)

CFA Institute Core Curriculum

Exam Topics


(10)

Level 3 CFA

Exam Weights


(100%)

1

Economics (Capital Market Expectations)

5-10%

2

Equity Investments

10-15%

3

Fixed Income

15-20%

4

Derivatives

5-10%

5

Alternative Investments

5-10%

6

Asset Allocation

5-10%

7

Private Wealth Management & Behavioral Finance

10-20% (5-10% each)

8

Institutional Investors & Cases

5-10%

9

Trading, Performance Evaluation & Manager Selection

5-10%

10

Ethical and Professional Standards

10-15%

What is the Level 3 CFA exam format?

The Level 3 exam consists of Item Sets comprised of vignettes with accompanying multiple-choice items and constructed response (essay) questions.


The Level 3 exam duration is 4.5 hours split into split into two equal sessions, with an optional 30-minuate break in-between.  There is no penalty for choosing the incorrect answer.


The first session of the CFA Level 3 exam is comprised of 8 to 11 vignettes followed by several questions that require a written response. There are some multiple-choice questions in this session, as well. For example, you may be asked a multiple-choice question to select the portfolio (A, B or C) that meets a particular objective, followed by an essay question to justify that response. There also may be some numerical entry questions, where only a number is required, with no opportunity to show work. The majority of the questions, though, will be traditional essay.


The second session of the CFA Level 3 exam is comprised of 44 multiple choice items, each worth 3 points. Each item set on the CFA exam consists of a vignette followed by either 4 or 6 multiple-choice questions.


source: https://www.cfainstitute.org/programs/cfa/exam/level-iii

your time is valuable.

No matter how busy you are, you can take a quick peek at what Exam Success can do for your CFA program prep journey and life. Try us for free!

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