Is CFA Level 3 Difficult – Tips to Ease Your Difficulties

Today, no business can survive without financial planning and management. Uncertainties and economic issues have added fuel to the fire. To deal with the challenges, businesses need professionals that can help them with financial problems. It’s here CFA experts come into the picture. These professionals offer top of the line expertise and help businesses scale even during turbulent times. So, the demand for CFAs keeps rising. Moved by the demand, many youngsters wish to make a career in the field. However, most of them wonder – Is CFA level 3 difficult? Let’s figure out the structure and difficulty level.

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Is CFA level 3 difficult?

The level 3 exam is the final phase of the three exams the CFA institute conducts. In addition to theory, the level includes 48 months of work experience in the relevant field. Successful completion yields you a charter membership. The initial two levels of the course revolve around the basics of financial knowledge and investment valuation comprehension. Level 3 deals with wealth planning and portfolio management.

Exam structure

The exam format is unique in that it contains a mix of set questions that you find in level 2 and essay questions. The exam is conducted in 2 parts – the morning and the afternoon session. Students have to answer 10 to 15 essay-type questions in the morning session. Each question contains multiple parts, allowing you to structure your answers in a template form.

Usually, these questions present you with a situation and seek solutions for the problem. The afternoon session differs from the morning session questionnaire. You’ve to take on 10 item sets. Here, each set contains a case statement, which is followed by multiple-choice questions.

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Course curriculum

The exam focuses on wealth planning and portfolio management. However, the curriculum also includes seven topics sub-categorized into two areas – asset classes and ethical and professional standards. Each of the topics gets equal importance.

Participants have to successfully complete each of the subjects. Those who pass all the subjects have to take up 4 years of internship or work experience. Once you do that, you become a full-fledged CFA, ready for hire.

How to get through difficulties?

Level 3 of CFA is obviously difficult. From theory subjects to work experience, the time and effort involved can take a toll on any student. However, you may get through the difficulties. Firstly, prepare yourself for theory carefully. Study each subject minutely.

Sharpen your basics that you learned during your first two levels. Additionally, practice questions and solutions. Seek help from experts and join a reliable training institute. Your time and determination will pay off, and you’ll pass the difficulty level with minimum hassles.


Bottom line

People who wonder – is CFA level 3 difficult – are right to a certain extent. The level is considered a tougher exam for those pursuing the course. However, you can ease your worries by getting familiar with the exam structure and through thorough practice. With proper knowledge and practice about wealth planning and portfolio management, you can come out with flying colors.

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About the Author: Mithilesh Kumar

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