Warning: CFA Level III Will Be Fiercely Contested, and the Essay Section Will Be Tough

Just got done with the Level 3 Exam. Thought I would make point related to you 96% stat. I believe that the stat that 96% of test takers do better in the multiple choice section than they do in the essay section is not a result of lack of preparation for the essay section. It’s simply a matter of probablility. In reality for all three levels, you really only need to know about half of the material. If you know for sure the right answer for 50% of the test, and guess on the other 50%, since there are only three options for each question, you can expect to get a 67%. So it makes sense that if you know 50% of the material on Level 3 you will get 67% on the multiple choice, but only 50% on the short answer, maybe slightly higher by writing something random, but surely not as high as being able to guess and get 33%. Very few are likely to do better on the essay portion, even if they prepare the same amount. Just a thought.

I appeared exam yesterday level 3. What do you think minimum passing score of level 3 this time? I believe 68%…..

Minimum passing score of level 3? Too late to assume. :'(