The CFA Level III exam focuses deeply on portfolio management. Passing this exam fulfills the academic requirement for the CFA designation.
Exam Details:
Session: 4 hours 24 minutes (two sessions of 2 hours 12 minutes each, with an optional break).
Cost: Examination Fees.
Passing Score: Percentile grading.
Passing Rates: 52% (10-year average).
Format: Vignette-supported essay and multiple choice questions.
Corequisites: 4 years of experience in investment management required for the CFA Charter.
Exam Dates: February, August.
Results: 6-8 weeks after the exam and completion of Practical Skills Module (starting February 2025).
Exam Topic Weights:
Ethical and Professional Standards: 10%
Alternative Investments: 5-15%
Derivatives: 5-15%
Equity Investments: 5-15%
Fixed Income: 10-20%
Portfolio Management and Wealth Planning: 45-55%
Note: Economics is included under Portfolio Management.