Many CFA® candidates consider the CFA® Level 3 exam to be the toughest session of all.
Why is that?
The questions included on this exam level are more like case studies. Level three exam questions require carefully thought-out responses. Also, they’re more subjective than other question levels.
So, if you’re serious about becoming a Chartered Financial Analyst, you’ll need to really study to pass the CFA® Level 3 exam.
And while there’s no surefire way to guarantee success on the test, having the right CFA® Level III study materials can give you a leg up.
What are the best CFA® Level 3 study materials out there? Here are our top picks:
1. AnalystPrep CFA Level III Study Materials
If you’re willing to spend a little bit more on your study materials, AnalystPrep delivers comprehensive learning tools to help you prepare for the CFA® Level 3 exam. The site includes practice questions, video lectures, and personalized learning plans to help you focus your studying.
These CFA® study materials are designed to help you develop a strong understanding of the exam content and build the skills you need to pass the test. What’s more, the practice questions are updated regularly to ensure they’re aligned with the most recent exam content.
Pros & Cons:
Bottom Line: AnalystPrep stands as our top choice for Level III CFA® prep. Highly praised by users like CFA® Charterholder Brian M., who credits its up-to-date materials and personal guidance for his success, the program offers lifetime access to video lessons and a question bank for all three levels. For those seeking a comprehensive yet tailored CFA® preparation, AnalystPrep is unmatched.
2. Kaplan Schweser CFA® Level III Prep Course
The Level III CFA® exam is no joke. It’s notoriously difficult and downright intimidating for many test-takers. That’s why Kaplan Schweser’s offering is such a popular choice among those studying for the Level III exam.
These study materials:
- Are integrated into an online learning platform
- Help you quickly reference difficult concepts while reviewing practice exam questions
- Are delivered in bite-sized modules, making it easier to study in shorter segments
- Include key formulas in an online module and topic quizzes designed to help you retain and practice every concept
- Are available in print, online, and eBook formats—giving you multiple ways to take in the content
Pros & Cons:
Bottom Line : Kaplan Schweser’s Level III CFA® prep is renowned for its meticulously organized notes that simplify complex concepts and offer concise summaries. Updated annually, their materials ensure candidates are always equipped with the latest information. With endorsements from top names in finance, many employers even consider sponsoring the course, underscoring its esteemed reputation in the industry.
3. Salt Solutions CFA® Level 3 Review Course
If you’re looking for a top-notch review course, Bloomberg’s CFA® Level 3 offering is definitely worth considering. The course includes access to over 1,000 practice questions and video lessons taught by actual CFA® instructors. Plus, you’ll get a personalized study plan to help you make the most of your preparation time.
Pros & Cons:
Salt Solutions brings a fresh, modern approach to CFA® exam preparation with its tailored resources and cutting-edge platform. However, its relatively short track record and niche specialization might not cater to everyone’s preferences. Those seeking a blend of innovation and dedicated CFA® focus might find it a suitable choice, while others might lean towards more established names in the market.
4. Princeton Review CFA® Level 3 Review Course
Princeton Review has one of the most comprehensive learning packages for the CFA® Level 3 exam. It offers detailed study notes, practice questions, and mock exams to help you pass the exam with flying colors.
Their learning package includes essential topics such as:
- Portfolio management
- Equity investments
- Fixed income
- Derivatives
- Alternative investments
- Ethics and professionalism
Pros & Cons:
Bottom Line : The Princeton Review offers a solid CFA® level 3 prep course backed by their money-back guarantee. Their excellent videos and large test bank of questions make them a top rated pick.
5. Wiley CFA® Level III Study Materials
While Wiley’s CFA® Level III Prep Course once boasted a unique strategic approach to exam preparation, its recent acquisition by UWorld casts a shadow of uncertainty over its future direction and quality. Despite having dedicated strategy sessions for each exam topic, the potential changes post-merger make it hard for us to wholeheartedly endorse Wiley for CFA preparation at this juncture.
The Wiley CFA® Study Guide is another popular choice for those preparing for the CFA® Level III exam. This guide covers all of the core concepts tested on the exam, and it does so in a clear and concise way. It also includes practice questions at the end of each chapter to help you test your knowledge.
Many successful CFA® candidates have used the Wiley Study Guide to help them prepare for Level III of the exam. We think it’s a great choice for those looking for high-quality, complete coverage study materials.
Included in the Wiley Study Guide are superior study aids such as:
- A diagnostic test to help you assess your strengths and weaknesses
- Full-length practice exams
- Flashcards
Pros & Cons:
Bottom Line: While Wiley has been a reputable name in the CFA® prep arena, recent uncertainties post-acquisition by UWorld, combined with occasional inconsistencies in content updates, make it essential for candidates to exercise caution and ensure they’re receiving the most up-to-date and comprehensive preparation.
Getting It Right on Exam Day
Study materials are an essential part of acing the CFA® exam. Not only do they provide the broad knowledge base you need to know for the test, but they also give you a chance to practice applying that knowledge in a way that simulates the test-taking experience.
When it comes to choosing CFA® Level 3 study materials, you have a few different options. First, you can purchase a review course, which will come with a set of lectures and/or textbooks. Alternatively, you can buy practice tests or individualized coaching.
The key is to find study materials that fit your learning style and budget. Consider how much time you have to prepare for the exam, how much money you’re willing to spend, and whether you prefer learning in a group or on your own.
Once you’ve selected your study materials, it’s important to use them effectively. Make a study schedule and stick to it, take practice tests under timed conditions, and review your results carefully. Then, with hard work and the right resources, you’ll be well on your way to acing the CFA® exam.
CFA® Level 3 FAQs
The Level 3 exam is notoriously difficult, with a pass rate of around 40%. In comparison, the CFA® Level 2 exam has a 60% pass rate.
There is no one-size-fits-all answer to this question, as students will have different learning styles and preferences. However, some general tips on how to study for the CFA® Level 3 exam include creating a study schedule, finding a study group, and using practice exams.
The cost of taking the CFA® Level 3 exam is $1,200. However, there’s an early bird deal that sees the price decrease to $900.
