CFA Level III

CFA Level III

The CFA Level III exam is the final level of the Chartered Financial Analyst program, designed for investment professionals seeking to demonstrate their expertise in investment analysis and portfolio management.

Focus

The CFA Level III certification focuses on Investment analysis and portfolio management

Exam Duration

The CFA Level III exam duration is 6 hours

Num of Question

The exam contains a total of 228 multiple-choice items

Exam Fee

The exam fee is Non-member fee: $1,050, Member and CFA Societies Discounted fee: $700.

Exam Validity

The CCRN-Pediatric certification is valid for 6 months.

Prior Certification

• CFA Level I and CFA Level II

Exam Format

The CFA Level III exam is a Multiple-choice items

Passing Conditions

To pass CFA Level III exam, applicants must achieve a minimum score of Pass all six item sets

Who Should Take

Investment professionals, portfolio managers, and analysts who want to demonstrate their expertise in investment analysis and portfolio management.

• Portfolio Manager
• Investment Analyst
• Investment Banker

Prerequisites

4 years of qualified work experience, which includes at least 36 months of professional work experience in an internship or in a full-time employee role in the investment industry.

Or can substitute with certifications:

• No substitutions are available for work experience requirement.

Certification Process

• Step 1: Register for the exam through the CFA Store website
• Step 2: Download the CFA Level III Handbook
• Step 3: Prepare for and take the exam
• Step 4: Receive your exam results

Domains with Weights

• Portfolio Management (25%): Candidates are tested on their ability to manage portfolios for individuals and institutional clients, including asset allocation, portfolio construction, and risk management.
• Corporate Finance (20%): Candidates are tested on their ability to analyze and evaluate corporate finance concepts, such as capital structure, dividend policy, and mergers and acquisitions.
• Equity Investments (25%): Candidates are tested on their ability to analyze and evaluate individual equity securities and portfolios of equity securities.
• Fixed Income (15%): Candidates are tested on their ability to analyze and evaluate individual fixed income securities and portfolios of debt instruments.
• Derivatives (5%): Candidates are tested on their ability to analyze and evaluate derivatives products, including options, futures, and swaps.
• Alternative Investments (10%): Candidates are tested on their ability to analyze and evaluate alternative investments, including private equity, real estate, and non-traditional assets.
• Ethics and Professional Standards (10%): Candidates are tested on their knowledge of ethics and professional standards, including the CFA Institute Code of Ethics and Standards of Professional Conduct.
• Quantitative Methods (10%): Candidates are tested on their ability to apply quantitative techniques to investment analysis and portfolio management, including risk management and performance evaluation.