Even though I had a good feeling that I will pass the exam, I failed CFA Level III test. I am feeling low but I haven’t lost hope. I was only able to prepare for 4 weeks due to my school and work, and I know that much preparation is not enough. I will start early for next year.
I need advice from you guys who have passed their level 3 test. Please share with me your success stories and tips that helped you to pass this tough exam. I don’t want to give up and really want to pass it next year.
@Dreamer123 This is my opinion on the difficulty of the exams L2>L1>L3
Yes, I think L3 is the easiest exam. The trick is the AM, for some reason, people find this difficult. It was not for me. Reason, Practise exam, practise exams, practise exams. Fortunately, CFAI actual exams are available. I did 2010 – 2015 actual exams.
Read the exam guide very well to understand graders thinking.
Start early. So you have truck load of time to practise writing.
The PM is the joker. Also take advantage of the CFAI online topic questions. I did those twice, and my weak areas, I did three times.
In sum, you need to do a shitload of practise, under timed conditions. And you will pretty much be confident like Mo Farrah. Go kick some butts next year!
I would say L3 is perhaps the trickiest one due to AM. When you have to answer in A, B,C style questions, worst case you can still have 1/3rd chance of being right. L3 AM would catch you off guard if you do not understand the material in and out. Practice exams and do lot of questions. Grading your own work is also challenging. Some folks are generous with grading their own work. Ask for help in grading your work.
Start early, practice questions, take as many exams as you can (I took 8 full exams).
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