Key Consideration For CFA Level 3 Registrations

Key Notes

You must pass the CFA Level 1 & CFA Level 2 exam before registering for the CFA Level 3 Exam

CFA Exam Period

· CFA Level 3 exams: February and August

Preparing Your Budget for the CFA Level 3 Exam

· Early registration (7 months before the exam): 940 USD

· Standard registration (4 months before the exam): 1250 USD

· Rescheduling fee: 250 USD

*Note: Some fees will change starting with registration for the CFA Level 3 exam from February 2025 onwards.

· Early registration (7 months before the exam): 1090 USD

· Standard registration (4 months before the exam): 1390 USD

Find out more : CFA LEVEL 1 CFA LEVEL 2

Format of the CFA Level 3 Exam

The CFA Level 3 exam consists of 50% Essay and 50% Multiple Choice, distributed across 2 sessions of approximately 135 minutes each. There is an optional break in between these sessions.

CFA Level 3 Structure

Session 1: 2 hours and 15 minutes, includes 10-13 situational questions, except for Ethics.
Session 2: 2 hours and 15 minutes, includes 44 multiple-choice questions similar to the CFA Level 2 and covering all subjects exam.
Each multiple-choice question has 3 options (A, B, C) and should take approximately 3 minutes to answer. For the essay section, the time needed to complete each question is equivalent to the question's score.

*Candidates must attend both sessions of the exam.

Differentiating CFA Level 3 from Prior Levels

50% of the CFA Level 3 exam is multiple-choice based on situations like CFA Level 2.
50% of the exam is in Essay form. You must explain to the examiner that you understand correctly and explain the nature of the problem correctly. Only then can you pass the Essay test. Reciting the topic will not be graded.

Brief of CFA Level 3 Program

CFA Level 1 tests general but crucial knowledge in investment practice.
CFA Level 2 focuses on in-depth valuation skills of investment assets.
CFA Level 3 requires candidates to develop and manage an investment strategy.

At KiWiMi, we believe that becoming a professional Investment Manager (Portfolio Management) is the pinnacle of the CFA program. To achieve this, one must have a deep understanding of the following.

Working with customers (Individuals: Individual Investors, Organizations: Institutional Investors) to identify their goals, suitability, and limitations as a professional asset management consultant (Private Wealth Manager).
Analyzing capital market expectations (Capital Market Expectations) to conduct asset allocation (Asset Allocations) in accordance with the investor's Investment Policy Statement (IPS).
Mastering different investment strategies (Top-down, bottom-up) for each type of investment asset (Fixed Income, Equity, Alternatives) while managing risks (Derivatives & Risk management).
Evaluating investment performance (Performance Evaluation) and selecting the appropriate Investment Manager (Investment Manager Selection) and person to execute transactions (Execution).
Understanding the behavioral psychology of investors (Behavioral Finance) to advise and behave accordingly.
Upholding Professional Ethics to ensure honesty and integrity in the investment environment.
By mastering these areas, you can create effective and sustainable investment strategies that meet the needs of your clients while maintaining ethical standards.

☛ Explore KiWi PrepPro: [Online] CFA Level 3

Experience the Difference of Studying

To solve a problem effectively, it's essential to have a deep understanding of its nature and to approach it logically, step by step

Deep Comprehension and Logical Step-by-Step Inferences

KiWiMi's unique approach to teaching CFA Level 3 focuses on deep comprehension of the problem's nature, enabling learners to make logical step-by-step inferences. Through simple examples, students will learn to apply these concepts in exams and investment practices.

Learning from Real-life Situations and Improving Ability to Apply Knowledge

CFA Level 3 requires practical experience and the ability to apply various strategies in the market. This can be challenging for learners who lack investment industry experience. Our founder, Mr. Sang, CFA, has over ten years of experience teaching all three CFA levels, researching, and accumulating knowledge on global financial investment markets in the US, China, EU, and emerging markets. Mr. Sang's expertise will help you gain practical knowledge beyond passing an exam.