Level 3 is the weakest of the 3 levels (low bar), but you can't get the letters without it. If you've already wasted hundreds of hours getting to level 3 (and make no mistake, it's definitely a waste), then you'd better finish it. It still has a marginal value to have the CFA after your name.
Level 3 of the CFA
is especially difficult because the exam format also deviates from the multiple-choice format.The constructed answer format, or “essay” section, can be very difficult for the CFA candidate used to multiple-choice questions to master. Each session will have 6 sets of elements and 5 sets of essays or 5 sets of elements and 6 sets of essays. This mixed distribution of the types of items in the two exam sessions allows for a more balanced presentation of questions throughout the exam. Overall, the level III exam contains 11 sets of elements and 11 sets of tests with 12 points each.
Even if you dedicate your free time to a job from 80% CFA to 20%, you'll still put in a lot of effort in terms of finding a job. However, Level 3's built answer session is a completely new game that you've never played. The only reason you choose the program is to demonstrate a certain level of competence to potential employers. You've passed levels 1 and 2, so you know how important it is to prepare for the CFA exam.
You've probably exceeded the 344 hours of study that a typical CFA Level 3 candidate had at the time. If you've been browsing the Internet looking for information about the CFA Level 3, you've probably noticed that, unlike Levels 1 and 2, there are many viewpoints about what materials are best for passing the exam. I don't want to sound harsh, but if you work in the billing department, the CFA won't help you get into the main office's instant messaging. In my opinion, the material is much easier than that of level 2 in terms of depth and breadth, it's simply complicated by the format.
Immediately after passing level 1, I could see a clear increase in interviews with all financial institutions, which in itself is a clear testimony. I hope that my experience and some of these tips will also help you to face the challenge posed by level 3. As recommended by the vast majority of previous CFA Level 3 candidates, I took a few days off work to better prepare for the exam. The CFA is a powerful hiring tool in many sectors. Once you have it, you'll always have it as long as you pay your dues.
After passing level 3 a few years ago, I wanted to share my experience of how I passed level 3 of the CFA on my first attempt, in the hope that it will help future candidates to better approach this exam.