CFA CFA Level 3 Level III – Which topics are better addressed by the CFAI curriculum?

Level III – Which topics are better addressed by the CFAI curriculum?

  • This topic has 6 replies, 7 voices, and was last updated Feb-18 by edulima.
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    • MacallanDuration
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      I am studying for Level III. For Levels I and II, I used Schweser exclusively and did not have any issues. With respect to Level III, it seems most candidates/members believe that Schweser does not adequately address certain topics in the Level III curriculum and that the curriculum should be used for the readings on those topics (as opposed to using the curriculum for the blue box exercises); behavioral finance is repeatedly listed as one of these topics.

      My question is: what are the other topics that candidates should turn to the curriculum for?

    • mattyc
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      I’m also interested in this topic.  I plan to use Schweser primarily with as many mocks as I can find but I’ll try to supplement with CFAI when recommended.  Any thoughts from the charterholders?

    • christine
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      My suggestion (without banking on specific topics) would be to look at CFAI after you’ve done Schweser. Go through the EOC summaries AND questions, and if you see a lot of areas that you’re unfamiliar with, consider looking deeper into that chapter.

      Having said that, have a quick (one day) look through the CFAI material before you start Schweser as well – I found L3 CFAI material to be a lot easier on the eyes than L1 and L2.

    • kishan
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      Thanks for the advise

    • WesMantooth
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      I didn’t realize that most members/candidates thought that Schweser was lacking on their level 3 coverage. I have a small sample set, but the only people I’ve talked to who used Schweser were fine with only using it. Are there any members here who can validate?

      My plan from the start has been to follow as @Christine’s suggested, to go through Schweser first and then review with CFAI EOC summaries and questions, but would like to know if some chapters in Schweser are not worth using at all??? I find that hard to believe.

    • Zee Tan
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      Just as a datapoint, I used Schweser for L3 (without CFAI) and had no problems. I do think Schweser excels more at mathematical concepts (where L3 is light on) and CFAI can be better for conceptual discussion-type questions (which L3 is heavy on). But Schweser is definitely fine to go on for L3.

    • edulima
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      Seems like a cognitive error: Schweser excels where the exam is light on and CFAI can be better where the exam is heavy on, and still decision making is tilted towards Schweser. Careful with the confirmation, representativeness, hindsight, and availability biases!

      Sorry, just practicing…

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