CFA Level III exam takers who worked in financial roles the year before and after passing the Level III exam stated they received an average 17% earnings increase in the year after passing their exam
CFA Level III Exam Prep
The Most Recommended CFA® Exam Prep Provider
Over the last 35+ years, Kaplan Schweser has helped more than 700,000 candidates prepare for the CFA exam. Your CFA study package includes a personalized study plan based on your progress, Schweser’s concise study notes, mock exams that simulate the format and difficulty of the actual exam, and a PassProtection™ guarantee.
Proven Exam Prep for Each Level of the CFA Program
CFA Level I
Level I of the CFA exam tests your knowledge and comprehension of investment tools and ethical and professional standards. Level I builds a baseline of knowledge across financial topics that will be expanded on in later levels.
CFA Level II
Level II of the CFA exam tests your application and analysis. Level II focuses on asset valuation and how you apply standards to situations that analysts face in the real world.
CFA Level III
Level III of the CFA exam requires demonstration of the same skills as Level II, but tests your ability to make and write about judgment calls. At Level III, you’ll also choose a specialized pathway directly related to your career goals.
2025-2026 CFA Level III Exam Study Packages
Choose a study package that aligns with your specific needs, learning style, and budget.
2025
2026
Recommended
PACKAGE
Ultimate Package
$1,549.00
Best Seller
PACKAGE
Premium Package
$1,149.00
Best Seller
Essential
Essential Package
$849.00
Basic
Basic Package
$479.00
Shop All CFA Level III Individual Study Materials
View All
CFA Level III Exam Prep Details
The CFA Program curriculum is dynamic and changes annually to meet the nature and complexity of the global investment profession.
Level II Exam Details
Exam Format: Computer-based, multiple-choice
Attempts Allowed: Up to six per level
Exam Windows: February and August. .
Topics Breakdown:
Asset Allocation: 15–20%
Portfolio Construction: 15–20%
Performance Measurement: 5–10%
Derivatives and Risk Management: 10–15%
Ethical and Professional Standards: 10–15%
Pathways: 30–35%
10 or 12 constructed response (essay) questions and 10 or 12 item sets (split into two sessions)
Session 1 & 2: 44 5 or 6 constructed response (essay) questions and 5 or 6 item sets each (2 hours and 12 minutes per session)
Insights from CFA Charterholders and Candidates
CFA Level III exam takers reported being more satisfied with their career trajectory after passing the Level III exam
Successful CFA Level III exam takers agreed that the CFA curriculum is valuable in their career.
Still have questions? Talk with our CFA exam prep experts to eliminate guesswork and create your Level III study plan.
CFA Level III Exam FAQs
Can I switch my specialized pathway if I change my mind?
How hard is Level III of the CFA exam?
How long should I spend studying for the CFA Level III exam?
How much of the curriculum is Common Core between each of the three pathways?
Is the Private Markets Pathway similar to the CAIA Charter?
Is the Private Wealth Pathway similar to the CFP® certification?
What are the CFA Level III specialized pathways?
What are the registration fees for Level III of the CFA exam?
What are the topic weights for the CFA Level III exam?
What is the difference between Schweser’s pathways exam prep products?
What is the passing score for Level III of the CFA exam?
When is Level III of the CFA exam?
Important CFA Level III Exam Dates
Find out when you need to register to sit for your CFA Level III exam.
AUGUST 2025
Level III Exam Dates
August 15–19, 2025
Registration and Scheduling Windows Open
November 6, 2024
Early Registration Deadline
January 29, 2025
Registration Closes
May 6, 2025
Scheduling Deadline
May 13, 2025
Rescheduling Deadline
July 14, 2025
Explore CFA Level III Products
Most Recommended: This is one of the findings of a quantitative survey conducted by Kaplan between April 1 and October 31, 2023. For this survey, a sample of 272 CFA Candidates were interviewed online in English. The survey was fielded to subscribers of 300Hours.com.
Helped 700,000+ Candidates Prep for Exams: Net purchases of study packages containing the printed SchweserNotes™ bookset from 2008 through winter 2024 (less 2020).
PassProtection™: Terms and conditions apply. Visit www.schweser.com/cfa/pass-protection for more information.
66% Reported Being More Satisfied with Their Career Trajectory After Passing the CFA Level III Exam: These are the findings of a quantitative survey conducted by Kaplan between May 2 and May 27, 2024. For this survey, a sample of 728 CFA® Level I, II, and III candidates was interviewed online, of which 428 last passed the CFA Level III exam.
83% Agree the CFA Curriculum Is Valuable in Their Career After Having Passed the CFA Level III Exam: These are the findings of a quantitative survey conducted by Kaplan between May 2 and May 27, 2024. For this survey, a sample of 728 CFA® Level I, II, and III candidates was interviewed online, of which 428 last passed the CFA Level III exam.
Most Used Online Forum Hosted by CFA Exam Prep Providers: Based on Kaplan North America research for comparable CFA exam preparation programs as of February 2023.
95% Recommendation Rate: This is one of the findings of a quantitative survey conducted by Kaplan between April 1 and October 31, 2023. For this survey, a sample of 272 CFA Candidates was interviewed online in English. The survey was fielded to subscribers of 300Hours.com.
Only CFA Provider Offering In-Person Mock Exams at Actual CFA Test Centers: Based on Kaplan North America research for comparable CFA exam prep providers as of June 2023.
Leader in CFA Prep: These are the findings of a quantitative survey conducted by Kaplan between June 30 and August 30, 2021. For this survey, a sample of 313 U.S. CFA Level I and Level II candidates was interviewed online. The survey was fielded to subscribers of 300Hours.com and AnalystForum.com.
Only Online Forum with Content from CFA Faculty Experts: Based on Kaplan North America research for comparable CFA exam preparation programs as of February 2023.
9 Out of 10 Students Recommend: These are the findings of a quantitative survey conducted by Kaplan between September 29 and November 4, 2022. For this survey, a sample of 838 CFA Level I, II, and III candidates was interviewed online, of which 463 prepared for a CFA exam with Kaplan Schweser.
Most Used CFA Prep Provider: These are the findings of a quantitative survey conducted by Kaplan between June 30 and August 30, 2021. For this survey, a sample of 313 U.S. CFA Level I and Level II candidates was interviewed online, of which 151 CFA Level II candidates answered this question. The survey was fielded to subscribers of 300Hours.com and AnalystForum.com.
Most Respected and Trusted CFA® Provider: These are the findings of a quantitative survey conducted by Kaplan between June 30 and August 30, 2021. For this survey, a sample of 313 U.S. CFA Level I and Level II candidates was interviewed online, of which 271 CFA candidates answered this question. The survey was fielded to subscribers of 300Hours.com and AnalystForum.com.
93% Who Passed Level III Used an Exam Prep Provider: These are the findings of a quantitative survey conducted by Kaplan between May 2 and May 27, 2024. For this survey, a sample of 728 CFA® Level I, II, and III candidates who were either Kaplan customers or expressed an interest in Kaplan products was interviewed online, of which 428 last passed the CFA Level III exam.
85% Who Passed Level III Believe Kaplan Schweser Played Role in Helping Them Pass: These are the findings of a quantitative survey conducted by Kaplan between May 2 and May 27, 2024. For this survey, a sample of 728 CFA® Level I, II, and III candidates was interviewed online, of which 351 last passed the CFA Level III exam and prepared for that exam with Kaplan Schweser.
83% Who Passed the Level III Exam Agree the CFA® Curriculum Is Valuable in Their Career: These are the findings of a quantitative survey conducted by Kaplan between May 2 and May 27, 2024. For this survey, a sample of 728 CFA® Level I, II, and III candidates was interviewed online, of which 428 last passed the CFA Level III exam.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.
CAIAA does not endorse, promote, review, or warrant the accuracy of the products or services offered by Kaplan Schweser, nor does it endorse any pass rates claimed by the provider. CAIAA is not responsible for any fees or costs paid by the user to Kaplan Schweser, nor is CAIAA responsible for any fees or costs of any person or entity providing any services to Kaplan Schweser. CAIA®, CAIA Association®, Chartered Alternative Investment AnalystSM, and Chartered Alternative Investment Analyst Association® are service marks and trademarks owned by CHARTERED ALTERNATIVE INVESTMENT ANALYST ASSOCIATION, INC., of Amherst, Massachusetts, and are used by permission.
Kaplan Schweser is a CFA Institute Prep Provider. Only CFA Institute Prep Providers are permitted to make use of CFA Institute copyrighted materials, which are the building blocks of the exam. We are also required to update our materials every year and this is validated by CFA Institute.
Our products and services substantially cover the relevant curriculum and exam and this is validated by CFA Institute. In our advertising, any statement about the numbers of questions in our products and services relates to unique, original, proprietary questions. CFA Institute Prep Providers are forbidden from including CFA Institute official mock exam questions or any questions other than the end of reading questions within their products and services.
CFA Institute does not endorse, promote, review, or warrant the accuracy or quality of the product and services offered by Kaplan Schweser. CFA Institute®, CFA® and "Chartered Financial Analyst®" are trademarks owned by CFA Institute.