Study Efficiently, Pass Pass the Level III CFA® Program Exam

Our CFA® Program exam study tools can help you build a plan to study smarter and pass Level III.

How AdaptPrep Works

Learn the Essentials

Understand everything you need to know to pass the exam.

Practice Exam-Style Questions

Experience the exam format, analyze your performance, and adapt your study focus

Gain Confidence to Pass

Do well on practice exams to increase the challenge until you're ready for the real thing.

About the Level III CFA® Program Exam

Level III is the final exam you must pass to become a CFA® Charterholder. Level III tests your analysis skills even further, with a focus on portfolio management and wealth planning.

Exam Overview

70 Questions

10 Written Answer, 60 Multiple-Choice



6 Hour Exam

3 Hour Morning & 3 Hour Afternoon Sessions

70% or Higher

Score to Aim For

Before the Exam

  • Recommended Courses

    None. Passing Levels I and II should give you all the background knowledge you need. Level III focuses on how to apply that knowledge to portfolio management situations.

  • Level III CFA® Program Exam Offerings

    Level III is offered once per year in June.

  • Next Offering:

    June 6, 2020

    Registration Deadline:

    February 12, 2020

    (Late Registration until March 11, 2020)

  • How do I register?

    1. Register online at
    2. Pick an exam location.
    3. You’ll receive an admission ticket via email. Print it out–you will need it on exam day.
  • How much should I study?

    We highly recommend dedicating 6-8 months of dedicated studying to prepare for Level III. Start by learning and reviewing the material, then focus on practice exams. Our Practice and Complete plans can help you measure your progress and assess your readiness for the real exam.

  • Tricky Topics

    The most challenging part of Level III is not any one topic, but the Written Answer portion of the exam.

  • Coach Mike's Tip

    “The content is easier with this exam, with a lot of overlap with Levels I and II. Focus on the essay questions so you understand how to structure your answers.”

  • Coach Marc's Tip

    “Level III is a different beast than either Level I or Level II because it involves a written answer session. This different format is why Level III is the most difficult to pass.”

Exam Day

  • What to Bring with You

    • Your admission ticket
    • Your passport
    • A CFA Institute-approved Calculator
      - BA II Plus
      - HP 12C
    • Pencils
    • Erasers
    • An extra layer of clothing (you never know what the temperature of the exam room will be, and this is a 6-hour exam!
  • Coach Marc's Story

    “The stakes are high for Level III Candidates. If you fail Level I or even Level II, you'll probably be disappointed and walking away will hurt, but not nearly as much as if you have to walk away after failing Level III. I passed Level I and Level II on the first attempt. It took me three attempts to pass Level III, and that’s not uncommon. Yes, it was rewarding to finally reach the summit, but the sacrifices made to get there are significant.”

  • Coach Mike's Story

    “My time to prepare for this exam was severely limited. I did well because I had a lot of prior knowledge of the material, and I just had to focus on how they asked the questions.”

After the Exam

  • Getting Your Exam Results

    You’ll receive your exam results via email after all exams have been graded by CFA Institute. This process usually takes several weeks.

  • Next Steps

    Level III is the final exam you need to pass. If you have amassed at least four years of investing or financial experience, all you need to become a CFA® Charterholder is to be a regular member of the CFA® Institute and have references attest to your relevant experience.

AdaptPrep mimicked very closely the real CFA exam. Similar wording and structure, similarly-sized, with small, hidden details and traps - just like the real CFA questions.

Evgeni, User for Level III of the CFA® Program exam


Mobile Friendly

Access our study tools on any device with our web-based format.

Flexible Learning

Learn your way with our video lessons, online manual, or both in combination.

Dynamic Difficulty

AdaptPrep gives you harder questions the better you perform, so you get the right question at the right time.

Predictive Analytics

Our Earned Level system measures your exam readiness. Identify your strengths and weaknesses with Section Reports.

Our Plans



  • 300+ Practice Questions
  • 1 Mock Essay Exam
  • Detailed Solutions
  • Condensed Review Material


  • Clear, Concise Explanations
  • 38 Readings Covering All 6 Exam Topics
  • 100+ In-Depth Video Lessons
  • 30+ Total Video Hours



All the Features of:

  • Learn
  • Practice

Every Plan Includes

Discussion Forums

Our community of CFA® Charterholders, AdaptPrep coaches, and candidates answer your questions and exchange study methods.

Condensed Outline

All the important exam topics summarized in one place for maximum memorization and rapid review.

Study Schedule

Tips and reminders keep you on track and use your study time efficiently.