Hi all, I recently registered for the 2017 Level 3 Exams and I was wondering what sections are included in the essays sections? Are all 32 chapters | 18 Study Sessions potential questions for the morning essays questions? From the past papers on the CFA Institute website, I don't see any questions on Ethics or GIPS in the essay sections.

ALL of it is fair game for the AM section. However, the probability of Ethics and GIPS on the AM is very, very slight. Reviewing historical exams it looks like Ethics is a LOCK for a PM section item set though.

For the CFA Level 3 exam, the morning session consists of constructed response (essay) questions, while the afternoon session follows the multiple-choice item set format. However, certain topics are historically more common in the essay portion, while others tend to appear in the multiple-choice section. Sprunki Retake

A CFA General Discussion About CFA Level 3 Essay Portion

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This topic has 2 replies, 3 voices, and was last updated 3w by ShanLandry.

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- googs1484
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  - CFA Level 3
  28 Nov 2018 at 7:48 am
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  ALL of it is fair game for the AM section. However, the probability of Ethics and GIPS on the AM is very, very slight. Reviewing historical exams it looks like Ethics is a LOCK for a PM section item set though.
- ShanLandry
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  - CFA Level 2
  25 Mar 2025 at 9:09 am
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  For the CFA Level 3 exam, the morning session consists of constructed response (essay) questions, while the afternoon session follows the multiple-choice item set format. However, certain topics are historically more common in the essay portion, while others tend to appear in the multiple-choice section. Sprunki Retake
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