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. UWorld (Formerly) Wiley CFA® Level III Study Materials
UWorld sets the standard for CFA Level III prep by training candidates to think like portfolio managers—not just test-takers. Their Level 3 course is designed around the real demands of the exam: justification, synthesis, structured response, and professional judgment.
Rather than overwhelming you with dense curriculum pages, UWorld focuses on clarity, strategy, and decision-making, helping candidates master how to explain investment choices clearly and confidently—exactly what Level III tests.
Why UWorld Works So Well for Level III
Level III is fundamentally different from Levels I and II. It’s less about calculation speed and more about reasoning, communication, and applying concepts in real-world scenarios. UWorld’s prep materials are intentionally built for this shift.
Their content is written by CFA charterholders, with in-depth answer explanations that walk through why a response is correct—not just what the answer is. Visual explanations, structured outlines, and exam-style prompts make it easier to internalize complex portfolio management concepts.
What’s Included with UWorld CFA Level 3 Prep
- Level 3 QBank – Exam-style questions written by CFA charterholders with detailed, visual answer explanations focused on reasoning and justification.
- Full-Length Mock Exams – Highly realistic exam simulations that mirror the Level 3 format, interface, timing, and topic weighting.
- Concise Study Guides – Focused summaries aligned to CFA Learning Outcome Statements (LOS), designed to replace rereading the full curriculum.
- Expert-Led Video Lessons – Short, targeted videos that break down key concepts, common pitfalls, and portfolio management frameworks.
- SimpleSheets+ – High-yield formula and concept sheets for quick reference and final review.
- Flashcards & Smart Review Tools – Customizable digital flashcards with spaced-repetition for efficient retention.
- StudyPass™ – Access to the course until you pass, at no additional cost (Elite package).
Optional add-ons include Expert MasterClasses, live Q&A sessions, and an intensive final-review Boot Camp for candidates who want extra structure.
Pros & Cons:
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Explanations are built for Level III thinking: From reviewing the platform and sample content, it’s clear UWorld puts a lot of emphasis on how candidates are expected to think at Level III. The answer explanations focus on reasoning and justification, not just final answers. -
Practice feels aligned with the actual exam: Based on the QBank and mock exam previews, the questions closely match the structure and expectations of the Level III exam, especially around applied decision-making and written responses.
Strong tools for targeted review: The platform makes it easy to identify weak areas and focus review where it’s needed most. Even at a glance, the performance tracking and analytics are well designed and practical. -
Flexible, modern study experience: UWorld is clearly built for candidates who want digital, on-the-go access. Between the mobile support, short videos, and modular tools, it’s easy to see how this could fit into different study schedules. -
The only real con is that UWorld leans heavily toward digital learning tools. Candidates who strongly prefer traditional, textbook-only study may want to supplement with printed materials.
Bottom Line: Based on reviewing the platform and available materials, UWorld stands out as a strong choice for CFA Level III candidates who want exam-focused, modern prep. Its emphasis on reasoning, justification, and realistic practice aligns well with what Level III actually tests. For candidates comfortable with a digital-first study experience, UWorld offers a clear, well-structured approach that’s built around how the exam is written—not just what’s in the curriculum.
Take 15% Off UWorld CFA Level 3 Review Course
2. 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:
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Comprehensive and Tailored Approach: AnalystPrep’s CFA preparation stands out for its meticulously crafted content, designed to address every facet of the CFA curriculum. Their adaptive learning technology ensures a personalized study experience, pinpointing areas of weakness and adjusting material accordingly, setting students on a direct path to exam success. -
Their program also has a more personable vibe when it comes to guidance and the way it is presented. They also provide lifetime access to video lessons and a question bank for all three levels. -
Analyst Prep is one of the most highly rated CFA® prep programs, according to third-party reviews. Their expert instructors are unmatched and loved by students. -
CFA® Charterholder Brian M. put it this way: “Before I came across this website, I thought I could not manage to take the CFA exam alongside my busy schedule at work. But with the up-to-date study material, there is little to worry about.” -
While AnalystPrep covers a broad range of material, some candidates may find that its question bank and explanations aren’t as visually rich or detailed as other providers’—meaning learners who prefer highly structured, in-depth rationales might want to supplement with additional resources.
Bottom Line: AnalystPrep stands as a great 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.
3. 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:
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These well-organized Schweser Notes™ break down the material in an easily digestible format, making complex concepts much simpler to understand. In addition, they offer solid summaries that make studying for the CFA® Level III manageable. They’re also updated annually to ensure that you study with the most current information. -
Kaplan Schweser is up-to-date on all things CFA® and likes to keep their candidates up-to-date as well. You’ll never have to worry about outdated material while prepping for the exam. -
Kaplan’s Level III CFA® prep is endorsed by numerous top-tier names in the finance industry. This widespread recognition often leads employers to sponsor or reimburse the course fees for their employees, attesting to its esteemed reputation and effectiveness.
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Kaplan has some of the most popular study materials on the market, comes at a pretty penny. However, its widespread recognition and proven track record often justify the investment for many aspiring CFA® candidates.
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.
4. 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:
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Salt Solutions’ exclusive focus on the CFA® exam ensures a deep understanding of the curriculum, leading to resources that are finely tuned to the specific needs of CFA® candidates. This tailored experience puts them ahead of other providers. -
Talk about cutting-edge! Being a newer entrant, Salt Solutions harnesses the latest in online education technology, offering an interactive and modern learning experience that stands out from traditional platforms.
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As a relatively new player in the CFA® prep market, Salt Solutions lacks the extensive history and established reputation that some competitors boast. This unproven track record causes some students to decline and study with more seasoned prep providers. -
While their dedicated focus on the CFA® is commendable, some students might prefer a platform that offers a broader range of financial exam resources, allowing for a more holistic learning experience that isn’t so niche-specific.
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.
5. 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:
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Princeton Review’s CFA® Level 3 course offers succinct lecture slides that distill complex topics, making them easily understandable without extensive reading. Coupled with their brief yet insightful explanations for question answers, it provides a streamlined learning experience. The added assurance of a money-back guarantee provided you complete all questions and watch all lectures, showcases their confidence in the course’s effectiveness. -
Each mock exam perfectly mimics the CFA® institute test, allowing CFA® candidates to feel more comfortable and confident on exam day. In addition, each Level III CFA® exam practice question comes with detailed answers that explain exactly what the exam grader will be looking for.
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At one point, the Princeton Review only offered CFA® prep for levels 1 and 2. Their CFA® Level III course is much newer, so it has fewer exam questions and resources when compared to other courses -
While some lectures are concise and engaging, others can be tediously long, stretching up to two hours. The experience varies significantly based on the lecturer, with some having monotonous delivery styles that can be challenging to stay engaged with. -
The course offers a limited number of end-of-chapter questions, potentially affecting thorough topic review. Moreover, sporadic mistakes in practice questions can divert attention and might confuse students.
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.
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.
