Chartered Financial Analyst® Program (Level 3)

Entry requirements

To register for your Level 3 exam, you need to have passed Level 2.

Months of entry

January, July

Course content

The CFA Program curriculum is focused on ten key topics which increase in complexity at each of the three levels: ethical and professional standards, quantitative methods, economics, financial reporting and analysis, corporate finance, equity investments, fixed income, derivatives, alternative investments, portfolio management and wealth planning.

At this final level, candidates are required to incorporate everything they’ve learned in the previous levels and display effective knowledge of the entire portfolio management process.

The Level 3 exam consists of item set and constructed response (essay) questions.

The morning session features constructed response (essay) questions (between 8 and 12 questions, each with several subparts) with a maximum of 180 points. (The point value for each question is provided in the exam book.) The afternoon session covers 10 item sets with 6 multiple-choice questions in each.