CFA CFA Level 3 How will Level 3 computer based test be like for the essay section?

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How will Level 3 computer based test be like for the essay section?

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  • This topic has 5 replies, 4 voices, and was last updated 2w by Zee Tan.
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  • wealthcreator
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    I’m quite concerned that CBT is going to be a PITA for the L3 essay format. Particularly if the questions require workings and equations – how are we supposed to show this on a computer exam?

    Does anyone have any inside scoop on this? Or is there a CFA CBT simulator somewhere that we can try out?

    mikey
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    So we’ve asked CFA Institute about this and we have gotten more clarity on this:

    • Equations: There is an equation editor that you can use, but this is not a requirement. For credit, formulae are not expected. You can choose to demonstrate the steps you are taking, and CFA Institute will accept both ASCII characters (e.g., 1000(1+0.05)^10) or a narrative (e.g.: I found the future value by taking 1 plus the interest rate (.05) to the 10th power and then multiplied the result by the present value (1,000)).
      • Additionally, we have an equation editor in the forum when you’re creating new posts and replies that you can use and practice 😀
    • Simulators: There is a current (non L3-specific) simulator available at http://3h.rs/CFACBT. CFA Institute are working with Prometric to create exam simulators for Level 2 and Level 3. These will be ‘available to candidates shortly’.
    • Split screens will be available: For candidates worried on how vignettes and answering questions might work in computer-based testing format, the Prometric interface will have a split-screen allowing you to refer to the vignette and answer questions. Quoting CFA Institute:

    The vignette is on the left side of the screen and scrollable. The questions will appear one at a time on the right-hand side.”

    Hope this helps, and just let us know if you have any further questions.

    wealthcreator
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    Thanks. What about CFA Institute practice questions and mocks – will they be in a simulated CBT format by November, do you think? If at all?

    ahsin3294
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    Thanks. Just a quick one, will we be given a scratch pad to note down stuff to include in our answer? and will we be able to highlight text in the vignette?

    Zee Tan
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    Thanks. Just a quick one, will we be given a scratch pad to note down stuff to include in our answer? and will we be able to highlight text in the vignette?

    Yes – erasable pads would be given. In practice this is likely laminated sheets with a marker pen. You should be able to highlight text in the vignette given that you can highlight the questions themselves:


    @mikey
    mentioned it in his reply earlier but there is an official simulator you can try out here: http://3h.rs/CFACBT

    Zee Tan
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    Thanks. What about CFA Institute practice questions and mocks – will they be in a simulated CBT format by November, do you think? If at all?

    CFA Institute have not confirmed anything is available or even in progress, “given the accelerated timeline to launch CBT for Level 3 as a result of COVID-19”. ☚ī¸

    But hopefully there will be a more specific L3 CFA CBT simulator launched soon that will help get you familiar with the exam experience!

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