Now that you have completed your CFA level 2 exams, I know you are probably bushed and tired but at the same time happy you beat the beast that was at that level. Right?
Most people tend to think that level two is the toughest, but level three has its own challenges and is generally miscalculated and misread.
It’s not that students don’t take it seriously or that they don’t spend enough time preparing for the CFA level 3 exams; somewhat, they don’t actually take time to understand how it works.
However, don’t hustle over it, and you are almost there! Don’t give up yet! There are certain things that you need to keep in mind before you start your CFA level 3.
Below are tips and superb rules that can help you pass your CFA level 3 exams.
Level 3 is like a Rotation of Level 2
I know you know that level two is heavily based on quantitative and calculations. Right?
Now, on the other hand, CFA level 3 is more theoretical and qualitative in nature.
Although it covers less material overall, where most students go wrong is the constructed response format that forms 50 % of the exams.
This basically means that there is a non-multiple choice, and you have to write your answers down. Also, the examiners tend to broadly ask questions from anywhere.
Once you comprehend and grab this concept at your fingertips, you will undoubtedly get points in your exams.
Always Exploit the CFA Course Selectively
All you learned in your previous level in the CFA course is useful and will help you in your CFA level 3.
Therefore, you should be careful in how you answer the questions.
The common mistake that most students make is chunking some of the information to use instead of using it exclusively when preparing for the CFA level 3 exams.
Though sometimes it works for some of them, it’s advisable to always choose what’s best for you.
Consider Using the Below Suggested CFA Level 3 Topic Study Order
Content and topic weights revamp of the CFA level 3 have been recently done, and I think it’s essential that you be aware of it.
Courtesy of Equity and fixed income of this year in Singapore, portfolio management has been reduced to utilize your time and more competence, here.
Learn How to Skip Exam Questions to Attain Your Score
We have always talked about time management since CFA level 1, and now it’s time to even emphasize harder.
The same as you did in your level 2 paper:
- Set yourself given time to answer each question.
- Round the questions that you are unsure of and move on to the next.
- When times are up, pick the best answer.
Don’t forget that you need to finish the exam within a realistic given time and if you don’t leave enough time to write your answers down, you might drop the chance of scoring the sure bet answers.
Be Still and Move On
Regardless of the exam’s questions, expect anything and don’t panic.
You can’t know everything and answer everything right in the exam; therefore, it’s best to focus more on maximizing your score and carrying on to the end of the exams.
If you follow and adhere to the above tips, unquestionably, you are most likely to pass in your paper.
CFA level 3 exams are tough, but you know what the good news is? It’s the last paper, and you will be done!