How to Be Great at Answering CFA Level 3 Essay Questions

The CFA Level 3 essay questions (constructed response) tends to be many candidates’ Achilles heel, even when they accurately self-grade the essay practice questions during practice.

However, there is a quick way to substantially improve your constructed response section’s performance. 

Knowing the best strategies on how to answer essay questions is almost as important as knowing the actual CFA curriculum content, and a lot of candidates don’t stop to think about this enough.

That’s why, we have put together an ultimate guide to answering CFA Level 3 essay / constructed response questions better.

Check it out!

cfa level 3 essay

CFA Level 3 exam structure: a quick overview

CFA Level 3 has a mix of constructed response (essay) and item-based multiple choice questions (MCQ).

Item-set based multiple choice questions (MCQ), whereby questions in each item set must be answered based on the information in the vignette. Each item-set has 4-6 questions related to it. Each question is worth 3 points.

Recently, CFA Institute has sensibly decided to mix both constructed response and MCQs in each Level 3 session to help candidates average things out and complete their exams better.

CFA Level 3 exam will take 4 hours and 24 minutes, split into 2 equal sessions of 2 hours and 12 minutes each:

  • This means that each CFA Level 3 exam session has either 6 item sets and 5 essay sets, or 5 item sets and 6 essay sets.
  • The total number of questions for Level 3 exam doesn’t change: 11 essay sets and 11 item sets, with 12 points each.
For some CFA Level 3 example questions, see this item set sample provided by CFA Institute , as well as sign up for our free CFA Level 3 practice test to get more questions!

Reasons why candidates fail CFA Level 3

Before we go through various strategies and tips on how best to answer CFA essay questions, it is worthwhile taking a step back to understand the main cause of CFA Level 3 failure:

  • Not following a customized study plan that prioritizes the topic weight.
  • Lack of attention on the Learning Outcome Statements (LOS) , which focuses on the things you need to know for each topic.
  • Insufficient studying time, probably due to sleep deprivation or trying to balance work and studying .
  • Not doing sufficient practice exams under timed condition
  • Poor time management during exam, probably due to exam anxiety

To minimize the risk of failure, do create your personalized CFA study plan that fits around your worklife, expect at least 350 hours of quality studying time (including practicing mock exams ) and be mindful of the LOS you need to know as you go through each chapter.

OK assuming those are covered, let’s take a look at the top tips on how to approach CFA essay questions better.

CFA Level 3 question s: reading tips

CFA CBT exam results questions

Read the question before its case information. 

  • Focus your attention on the questions right at the start. After reading and understanding the questions, then move onto the case information. This should provide you with a better sense of purpose and focus now that you know what you’re looking for.
  • Finally, reread the question again before answering concisely – for more tips on answering essay questions, see the next section.

Read and highlight.

  • Read the question quickly but actively, highlighting key words (yes, there’s a function for that now in CBT exams )
  • Highlighting key words helps because you’ll need to refer to the question a few times, flipping back and forth between the case information and the question itself.
  • CFA Institute have made this easier by bolding key command words in their questions to provide a guide. Here’s the complete list of 17 CFA LOS command words and what they mean:

How to answer a CFA Level 3 essay question s

typing on computer

Short answers – no essays.

  • Although everyone calls it an ‘essay’ question, do NOT answer in essay form – you’re wasting time.
  • Legible, concise, straight to the point answers are essential to keep within the exam time limit.
  • No long sentences or paragraphs needed – bullet points are fine. In the current computer-based exams , using the hyphen (“-”) sign is fine as a bullet point.
  • Keep your answers short yet understandable. This is because answers are graded only on content, not on language or style.
  • Focus on addressing the bold command words used in each question. Answers that are unclear or ‘not answering the question’ will get 0 points.
  • If a question asks for 1 advantage or 2 reasons, provide no more than the number of advantages or reasons requested . Only the first advantage and the first two reasons that you provide will be graded, so there is no point writing more.

Show all the calculations and formulae you can. 

  • For calculation answers, always show as many steps and formula as you can. While this step is optional, it does help you get partial credit in case you make a mistake somewhere in your calculations. In theory, you can write just the answer, and if it is correct, get full credit for it anyway.
  • In the Math Editor tool, use the multiplication sign (x) instead of an asterisk (*). The latter will either delete or convert the text to italics.
  • If appropriate, state any assumptions that support your approach to solving the problem.

Know when to guess and move on.

If you’re not sure of the answer, type your best guess down (don’t leave anything blank as there are no negative marking), and come back to it later if you have time. Then move on to the next question. Don’t dwell on it and waste precious time.

done finished stretch

Make sure you answer questions on the correct page or template.

  • Each question should have specific directions on where to answer that question. Make sure you get that right.
  • Answering questions on the wrong page or template will get you zero points.

Abbreviate.

Well known abbreviations can be used, especially when they’ve been used in CFA curriculum, e.g. PV for present value, arrows to indicate up or down (↑ or ↓) in answers are fine.

How to manage time on the constructed response paper

CFA exam day schedule computer based exam CBT

Know how much time you should spend.

  • Each question part in the CFA exam has its recommended allocated time indicated.
  • 1 minute is indicated is equivalent to 1 point in the exam . This indication provides a great guide on how long to spend on reading and answering.

Move on or skip when you have to.

  • There is rarely extra time in the essay session.
  • Mark the time you’ve to move on at the start of each question.
  • Do what you can and skip to the next section or question once time is up.

Use these rules of thumb.

  • You should be spending more than half the time reading, thinking, and deciding, and you should be spending less than half the assigned time in actually writing out the answers.
  • Think first, then type!

The recommended process of answering CFA essay question s

Picture

Pulling all of the above together, this is how we recommend to approach each CFA essay question:

  • Read all the question parts in the whole case.
  • Read the question’s case information.
  • Read the specific question part you want to answer.
  • Answer concisely in the right page and template.
  • Move onto the next question part when finished. If the allocated time is up and you’re still not done, type what you can and move on.

Are you facing your CFA Level 3 this exam cycle? Hope the above helps your constructed response strategy! We also have  a free Level 3 practice exam for you that you can take now .

Meanwhile, here are other related articles and resources that may be of interest:

  • CFA Level 3 Tips: Top 10 Advice from Previous Candidates
  • CFA Level 3: How to Prepare and Pass CFA in 18 Months
  • What Is the Best CFA Level 3 Topic Study Order?
  • How I Passed CFA Level 3 In My First Attempt

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12 thoughts on “How to Be Great at Answering CFA Level 3 Essay Questions”

Thanks for the information!

You’re welcome Felicity, best of luck!

Thanks for putting together this wonderful article!

Do you think it’s better to scribble formulas on paper before entering them into the white text or is it better to directly type them on the computer to save time?

I sometimes prefer scribbling to get the logic right but am worried this may waste time. Thanks!

Hi Husain, I think typing them into the computer as you go along is better as there isn’t much time to waste. Unless it is for a longer formula that may benefit from writing down quickly and copied across in the computer, my personal view is typing it directly should be fine. As long as the answer you calculated and/or written answers are correct, full scores are given

I found this article helpful and intend to come back to it as I do my mocks over the next 4 weeks.

Thanks Pope, best of luck, last stretch now in your CFA journey!

Hi all, I understood from some videos that the past exam essay question, at least until 2018 sessions, are available online for practicing.Do you know where are these available?

Thank you all

Hi Team, do you know if you can highlight on the vignette? In Kaplans Sim, I can highlight the questions but not the vignette.

You currently cannot highlight in the vignettes, but CFA Institute has mentioned this is being looked at:

It was our desire to have highlight available within the vignette, but Prometric software doesn’t presently support that within the context of the set-up we have to use in order to produce the vignettes. This will be included as a future enhancement, but as of now we do not have a timeline to report as to when this will be available to candidates.

Original discussion here: https://300hours.com/f/cfa/level-2/t/highlighting-text-on-the-vignette/

There are some shortcomings, but overall a great article, thanks a lo.

Good tips but some of them are not useful given the CBT testing environment ( eg: underline key words , writing out formula etc ) Would be better if the tips are more relevant to 2021 testing conditions. Thanks.

Hi Ty, thanks for spotting that! The general gist and advice still applies, I’ve updated the underlining to highlighting now, as there’s such a feature in Prometric’s CFA exam interface.

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CFA ® Exam Sample Questions

Sample CFA exam questions

CFA ®  exam sample questions might be just what you need if you are trying to get a sense of what the exam is like. In this article, we explain the question formats for each level and provide examples (and answers!) from past exams. For the sake of continuity, and to give you an idea of how the questions change at each level, all of them relate to the fixed income exam topic.

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Level I CFA ®  Exam Questions

The Level I exam consists of multiple-choice questions with three answers to choose from. The questions vary from open-ended statements to evaluating data and information. CFA Institute provides more details about the format on  its website . You can also learn more about the CFA Level I exam in  this article . Here are some fixed-income Level I question examples.

Question Examples

Question 1: If the market yield does not change, the price of a Treasury bill:

A. Will increase as the bill approaches maturity. B. Will decrease as the bill approaches maturity. C. Stay the same as the bill approaches maturity.

Question 2: Which of the following is closest to the percentage price change of a bond for a 20 basis point increase in the yield if the bond’s duration is 8.54 and the convexity is 58.66? A. –1.696%. B. –1.708%. C. –1.720%.

Question 3: The following details are gathered from Treasury securities:

sample cfa level 3 essay questions and answers

Which of the following is the best estimate of the one-year implied forward rate three years from now?

A. 2.91% B. 3.12% C. 3.20%

Question 4: Evaluate the following statements. Statement 1: “A putable bond exhibits negative convexity at low yields and positive convexity at high yields.” Statement 2: “Effective duration measures the sensitivity of a bond’s price to changes in its yield to maturity.”

A. Both statements are correct. B. Exactly one statement is correct. C. None of the statements are correct.

Level I Answers

The answer to question 1 is A, the answer to question 2 is A, the answer to question 3 is A, and the answer to question 4 is C.

Level I Answer Explanations

Treasury bills are discount instruments. As the bond approaches maturity, the price would increase.

Percentage price change in the bond price:

The one year rate three years from now

Statement 1 is incorrect. The statement is describing a callable bond not a putable bond. Statement 2 is incorrect. Effective duration measures the sensitivity of a bond’s price to changes in the benchmark yield curve, not its yield to maturity.

CFA Level I Exam Quiz

Answer these five questions to test readiness for the Level I Exam

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Level ii cfa exam questions.

Level II of the CFA exam introduces vignettes. A vignette describes a business scenario in several paragraphs using a mix of text, tables, financial statements, and so on. (You can get more information about the Level II exam  here .) As part of preparing for Level II, you must develop the ability to quickly scan through a vignette and pick out the pieces of data needed to answer a particular question. Let’s look at a sample vignette and its questions.

Level II Vignette: Holly Jameson, CFA

Holly Jameson has recently started a new role as a bond analyst at Holt Investment Management, LLC, based in Farland. Her team leader has provided her with up-to-date but incomplete data on the term structure of interest rates, summarized in Exhibit 1.

Exhibit 1: Farland Treasury Bond Rates

sample cfa level 3 essay questions and answers

Holly has been asked to assess whether a specific treasury bond that Holt is considering recommending to its clients is fairly priced. The bond pays a 6% annual coupon, matures in three years’ time, and is trading at $108.30.

In a discussion in the staff dining room shortly after she joined the firm, Holly’s colleague, Doug Ross, made a confident assertion, “I really don’t know how some people find bond trading difficult. For each specific maturity, spot rates are always lower than forward rates, and forward rates are always lower than YTM. So, you can always achieve a higher return by riding the yield curve. I’ve been doing that since my first day on the job.”

Holt offers both domestic and international bonds to its clients to enable them to benefit from risk reduction through diversification. Holly has carried out some preliminary research on the Farland bond market and has found that the yield curve has an unexpected shape and does not seem to be driven by interest rate expectations.

She asks her team leader for advice, who tells her, “Things are strange in Farland. Rates are influenced simply by the supply and demand of bonds of specific maturities. Different types of investors want particular maturity bonds, and they never seem to deviate from their preferences. High demand for 5-year bonds has pushed prices up and yields down.”

Alex Allan, a bond analyst colleague of Holly, started another discussion with the group by stating, “I’m more interested in what happens to bond prices when the yield curve changes. I need to estimate how much prices will change when short-term yields increase but long-term yields stay constant.”

Question 1: The BBB-rated corporate bond being assessed by Holly is most likely:

A. Undervalued by $2.34. B. Overvalued by $3.75. C. Overvalued by $3.70.

Question 2: The comments made by Doug Ross are most likely: A. Inaccurate in respect to the statement about spot rates, forward rates, and yields-to-maturity. B. Inaccurate in respect to the statement about riding the yield curve. C. Inaccurate in both respects.

Question 3: Holly’s team leader’s comments about interest rates in Farland most likely supports which theory of the term structure of interest rates?

A. Liquidity preference theory. B. Segmented markets theory. C. Local expectations theory.

Question 4: The most appropriate measure for Alex Allan to assess bond price sensitivity is:

A. Key rate duration. B. Effective duration. C. Macaulay duration.

Level II Answers

The answer to question 1 is C, the answer to question 2 is C, the answer to question 3 is B, and the answer to question 4 is A.

Level II Answer Explanations

Holly must first bootstrap spot rates for years 2 and 3 from the given par yields-to-maturity. A bond trading at par must have the same coupon rate as the yield-to-maturity. Using a hypothetical 2-year par bond, the 2-year spot rate can be derived as follows:

CFA Level 2 Answer Explanation Equations Part 1

Likewise, the 3-year spot rate:

CFA Level 2 Answer Explanation Equations Part 2

Having derived the relevant spot rates, Holly can now value the BBB-rated corporate bond, discounting the future cash flows using the spot rates:

CFA Level 2 Answer Explanation Equations Part 3

The bond is trading at $108.30 and is therefore overvalued by $3.70.

Doug’s comments about the relative values of spots, forwards, and yields-to-maturity apply only when the yield curve is upward-sloping. If the yield curve is downward-sloping, spots will be higher than forwards, and forwards will be higher than yields.

The segmented markets theory states that the shape of the yield curve is determined by varying levels of supply and demand for bonds of specific maturities, and investors only deal in bonds with their preferred maturities, regardless of yields on bonds of different maturity.

Assuming an upward-sloping yield curve as a starting point, if short-term yields increase, but long-term yields remain constant, then the yield curve will flatten. This is a non-parallel shift in the yield curve, which makes effective duration an inappropriate measure of bond price sensitivity. Key rate duration is the preferred measure for non-parallel shifts in the yield curve.

CFA Level II Exam Quiz

Answer these five questions to test readiness for the Level II Exam

Level III Exam Questions

The CFA Level III exam introduces a type of essay question called constructed response to test your ability to apply judgment and also contains item set vignettes (you can learn more about the exam format and more here ). These constructed response questions are open-ended. You must write your own answer; there are no options to choose from. Here is an example of a constructed response question related to fixed income.

Level III Constructed Response

Algonquin Enterprises is a US company that recently raised a substantial quantity of cash from the sale of a redundant factory site and would like to use this cash to retire a set of debt liabilities. Summary statistics for the liabilities, which range in maturity from five to eight years, are given in Exhibit 1-1:

Exhibit 1-1: Debt liabilities to be retired

sample cfa level 3 essay questions and answers

Algonquin’s treasury department is considering three possible methods that could be used: a bond tender offer, whereby the liabilities are repurchased on the open market, which they hope will lead to an upgrade from the company’s current A- rating to AA. However, the tender offer would need to be at a price reflecting the improvement in rating; cash flow matching using government bonds, which would allow for defeasement of the assets and liabilities; or duration matching using high-quality corporate bonds.

A. Identify and explain one advantage and one disadvantage of the duration matching approach compared to the cash flow matching approach.

Three different portfolios of investment-grade corporate bonds, ranging in maturity from 3 years to 10 years, have been proposed for the duration matching approach. Each portfolio has a market value of $650 million, which will be adequate for the funding of the liabilities. Exhibit 1-2 shows relevant information for these portfolios:

Exhibit 1-2: Portfolios for Duration Matching Strategy

sample cfa level 3 essay questions and answers

B. Identify and justify with two reasons which of the three portfolios (P, Q, or R) should be chosen if the duration matching strategy is adopted.

Algonquin is currently pursuing a contingent immunization strategy with another set of liabilities. These liabilities have a current market value of $78.96 million and a BPV of $36,374. The associated T-Note portfolio has a market value of $83.15 million and a BPV of $41,458. Additionally, 140 contracts of the five-year T-Note futures have been sold. The futures have a par value of $100,000 and an estimated BPV of $51.0745.

C. Assuming that any remaining duration gap is intentional, state with justification the likely view held by Algonquin’s treasury department on the future five-year T-Note interest rate.

Level III Answers

Level iii answers and explanation.

This is a position that will benefit from a rise in the five-year interest rate (assets will fall by less than liabilities, and the surplus will increase).

CFA Level III Exam Quiz

Answer these five questions to test readiness for the Level III Exam

What’s Next?

Now that you have insight into the kinds of questions that are on the three levels of the CFA exam, you might be wondering how you can learn to answer them. Browsing our CFA study materials  is a great place to start.

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Level III of the CFA® Exam

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What Should You Expect from Level III of the CFA Exams ?

As you can see, the curriculum from Level III is much different from previous levels:

* The exam weights are subject to change on a year-to-year basis.

Questions Format

Half of the Level III CFA exam will be based on item sets. Just like in level II, you will be given cases followed by six multiple-choice questions.

The other half will be essay-type format, which requires candidates to write down long-form answers to complex questions.

Becoming a CFA Charterholder

The Level III exam is the last exam of the CFA Program conducted by the CFA Institute. Candidates who have relevant 4 years of experience can finally put the three letters next to their name if they are successful in their Level 3 exam. Apart from having the most prestigious and valued qualification in the finance and investment industry, all these efforts put throughout the process to pass the exams ensure candidates are walking a financial encyclopedia which grants them to become more confident in their professional lives and job interviews. Plus, it is nice to meet a CFA charterholder who also follows the same path in the networking events. Global recognition is another benefit. CFA charter is recognized by not only financial institutions globally but also by any corporation which reaches a certain size, required to allocate its sources efficiently. If randomly selected finance job postings are reviewed, it is not unusual to see that a considerable number of them require the CFA designation or at least mention it. Demand for CFA charterholders seems to increase in the future because they continue to contribute to society by adhering to high ethical standards.

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General Information about the Level III CFA Exam

The Level III CFA exam is only offered in June. The afternoon session, similar to the Level II exam, includes item set questions. Each item set has 6 multiple-choice questions, and there are 10 item sets in total.

The unusual part of the Level III exam is the morning session, where candidates have to write answers in essay format. The essay format consists of 8 to 12 questions, and each question has two or more sub-parts.

Unlike other CFA exams, the curriculum for level III focuses mainly on portfolio management and wealth planning. Topics such as Quantitative Methods, Economics, Corporate Finance, Financial Reporting, and Analysis have been removed from the curriculum. Ethics, Alternative Investments, Derivatives, Equity Investments, and Fixed Income topics mostly preserve the weightings assigned in previous exams. Meanwhile, Portfolio Management and Wealth Planning topics’ weightings now comprise 45%-55% of the Level 3 exam.

Answering Essay Format Questions

Knowing how to answer essay type questions is one of the most noteworthy criteria for success in the Level III exam. Rule number one is not answering these questions in essay format. Candidates waste their time if they try to answer these questions by using long sentences and paying too much attention to grammatical choices and vocabulary. Rather, they should give concise answers focusing on what CFA Institute wants to assess. It is important to keep answers understandable, but as CFA Exams do not assess the ability of candidates to master English spelling, candidates should not spend too much time on word choices.

Exam success is directly connected with improving essay performance before walking into the exam hall, for evaluating essay questions is not as easy as for multiple-choice questions. Self-grading comes into play here. To do self-grading correctly, candidates must be objective at first. Only if they do self-grading properly can candidates discover their gaps in knowledge and develop an innate knowledge that is essential to give structured responses.

Partial credit is another point to be considered. Candidates get used to multiple-choice questions, which are evaluated based on marked answers. However, for essay format questions, they should show all their calculations step by step to get partial credit rather than only writing the results of the calculations. Also, it is beneficial for candidates to write their best guesses if they are not sure what the answers are. Because it is harder to make guesses for essay questions than for multiple-choice questions, candidates should still try their best guess without wasting too much time.

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Level III CFA Exam Results

Besides its disparate topic weightings and newly introduced question format, another variation of the Level 3 exam is the date on which results are issued. Test takers receive their results 90 days after the exam date, whereas Level 1 and Level 2 exam results are issued after 60 days. The reason for the 30-days delay is the essay format questions which require more time for grading.

Analyzing pass rates is also a hot topic among candidates. The level III exam pass rates – above 50% for the past few years – are the highest among all three CFA exams. One reason for that would be that level 3 candidates are the ones who successfully passed the first two exams. As such, they have already mastered the necessary skills to pass CFA exams.

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CFA Level 3 Essay: Question Format, Grading and Tips

  • By John / Stephanie

The Level 3 CFA Exam has two parts: the structured response (essay) exam in the morning and item-set multiple choice questions in the afternoon.

This post focuses on the CFA Level 3 essay section: the format, grading, preparation tips, and exam strategies for your test day.

CFA Level 3 Essay Format

This 3-hour exam has 10-15 questions, each divided into two or more parts. Points are awarded for each part of each CFA question.

There is no guarantee, but you can expect to see the following subject areas on your Level 3 exam: private wealth, institutional investors, economic analysis, fixed income, and risk management.

Ethics and GIPS will most likely be tested in the item sets.

Grading Your CFA Level 3 Essay

The full mark for your CFA essay is 180. Answers are graded on content only. That is, the CFA essays are not graded for language, style, and certainly not for length.

The examiners will indicate the number of factors in each question. For example, if three factors are required, you don’t need to list more than three. Any further points, no matter how good they are, will be considered irrelevant and not graded.

Also, if you list four factors, and the second one is incorrect, the examiners will count the first three and ignore the 4th, even if it is correct.

On a similar note, no points are awarded for general knowledge that is not a direct response to the question.

Tips for CFA Essays from a Former Grader

Here is an interesting note from JoeyDVivre , a (former) board member of Analystforum and a former CFA exam grader:

Before your essays are graded, there is an official answer that is distributed to all the graders that will be grading your question (graders each grade one question repeatedly for a week). Then the head grader and a couple of his deputies search through the answers and find examples of various classes of mistakes, plausible but different answers, better answers, etc.. These are then assembled into a packet and given to each grader. The graders then assemble in a room and spend a day going through the packet. A discussion is held about each answer and the graders try to reach consensus about how that answer should be graded. The head grader decides when each discussion is over and declares the result. These are compiled into a set of standards that each grader is supposed to abide by. There are a series of random checks while the grading is going on in which the head grader and his depuites review your grading and determine how well you are doing in abiding by the standards. They can change your grade but rarely do. I don’t know what happens to that set of standards after the grading is done, but it probably goes into a folder that collects dust. Some months later, an official answer comes out. I also don’t know who writes that but it is an answer that would be perfect according to the graders discussions. There are many, many ways of earning complete credit on an essay answer without being nearly as neat and organized and complete as the offical answer. The offical answer is not the kind of answer that someone comes up with on a timed exam and is always the result of group discussion and careful rewrites. Do not judge your own efforts against that answer. Many of those answers are even too complete so they would just take too much time to do on the exam. I think the best score I have ever seen on a CFA essay exam is in the 80’s. Such an exam is a joy to behold and is a really, really fine piece of work. You are not shooting for 100% on these and you shouldn’t write essay answers as if you were (it will take too much time).

How to Prepare for Your Level 3 AM Session

The essay section is a headache for many CFA candidates, but pretty doable for the prepared.

1. Practice using (free) past CFA papers

The best and simplest way is to write out the answers of past essay questions.

Some may be tempted to read the standard answers without working through the questions. Big mistake. You need lots of practice to get the hang of it.

There are past papers from CFAI website for free download. Answer them to the best of your abilities. Then, check your answers against the guideline. It helps to track how your performance improves from essay to essay.

2. Keep your answers short, clean and concise

Often times, the official answer from the guideline is much shorter than candidates’ version. Again, this can be learned through practice. Answer the questions directly and not try to show off how much you know. It takes practice to tune into this style of writing.

3. Pay attention to command words

Words (e.g. formulate, calculate) mean different things. They are called “command words” and they determine how you should answer the questions. Make sure you check them out (need CFA login) on the CFAI website.

4. Write in bullet points

Bullet points are great ways to present your ideas in the CFA essay exam.

The examiner will tell you how many factors (e.g. examples/reasons) they are looking for in each question. You can present them each with a bullet point.

5. Time your session

It’s a good habit to practice on time management. Having said that, if you type at average speed, time shouldn’t be a factor.

How to Ace Your CFA Essay Section on Exam Day

Here are additional tips on test taking:

1. Understand command words and answer directly

Formulate a direct response to the command words. It is important to answer to the point.

2. Make sure your assumptions are consistent

It helps the grader if you state the assumptions and make your point clear. Common mistakes include:

  • Answer a question they wish they had been asked instead of the question that was asked
  • Contradictory statements
  • Statements with wrong casual relationships (e.g. recommended A, but justified B)

3. Answer all questions

Even if you aren’t sure, take your best guess and go for it. There will be partial credits even if you aren’t completely on.

We recommend working on questions in order unless you have a particular weak area. By taking questions in sequence, you won’t accidentally miss a part of the question. You also gain confidence as you progress.

4. Think before you write

It is true that graders only look for content. As long as the writing is legible, it’s fine. You are also allowed to cross things out.

While you shouldn’t sacrifice speed for calligraphy, a paragraph that is crossed out, rewritten and recrossed out etc confuses the grader.

Therefore, we suggest spending a few seconds in formulating the framework of your answer. Keep things organized and neat in order for the grader to understand your train of thoughts and award you the necessary points.

5. Don’t be a perfectionist

At the same time, don’t keep writing just because you know the concepts well. If the examiners ask for 3 factors, use the least number of words to present such three factors. No points will be given for further elaboration.

Don’t fall in the trap of spending too much time on your strong area, and leaving too little time for weaker areas.

CFA Questions from Readers

1. should i use pen or pencil for the l3 essay.

We discuss this in our e-newsletter. Officially, CFAI is fine with either pen or pencil provided they are HB or No. 2 pencil, or a blue or black ink pen.

2. How do we approach calculation questions?

Show the steps in the calculation. You can get partial credits even if you get the wrong answers. Although it doesn’t hurt, you don’t need to list out the formula.

3. It’s the last 10 days before the exam and I am running out of prep time. Should I focus on essays or more multiple choice questions?

If you haven’t worked on the mock exam, that would be the priority.

If it is strictly exercises on essay vs EOC questions, I would go for the essay. EOC questions tend to test on the details covered in each study session. In the actual exam, such level of detail is not necessary.

Also, answering questions in the form of essays refresh concepts in a different perspective, which indirectly helps the item-set section. The reverse is less true in our opinion.

Do You Have Other Questions about the CFA Exam?

Feel free to drop a note in the comment section below. We’d love to help!

For Your Further Reading

  • CFA Level III overview
  • CFA mock exams

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Level III Essay Exam - Tips and Suggestions

Advice for the Level III Essay Exam

The Level III exam is made up of two parts. The first is a structured response (essay) exam and the second, a vignette multiple choice exam. This post focuses on the structured response, which, in my opinion, is the greatest obstacle lying between you and the CFA charter.

Until now, you’ve only been answering multiple choice questions in your CFA exams. At Level I and II, if you had an idea of what the question was about, there was a reasonable chance of you picking the right answer.

Level III is an entirely different story. Suddenly, not only do you need to know your concepts well, but you need to communicate those concepts in a clear and precise manner . Every year approximately 50% of students who have cleared Level II, fail the Level III exam. This is due primarily to insufficient preparation and poor exam-taking approaches.

Know your concepts. There is no excuse for not knowing the core concepts before the exam.

Practice, practice, practice. This includes examples and practice problems. As part of your practice, work through essay exams from 2006 to 2015. The CFA releases past exams yearly. Get your hands on these and go through them thoroughly. If you’re pressed for time, doing the past papers takes precedence over the curriculum exams and practice problems. As you practice, you’ll automatically understand which mistakes to avoid. (Note: the curriculum changes every year so if a question looks unfamiliar check the reading and learning outcome reference in the guideline answers.)

Pre-Exam Tips

Log on to the CFA Institute website > Candidate resources (link at the end of this post), and go through the resources there. These include exam tips, mock and essay exams, documents of LOS command words and acronyms that are common in the CFA exams. It is important that you familiarize yourself with the exam, its structure and its execution.

Though it seems tedious, practice writing . It’s a three-hour exam of just penning down answers on paper, and you don’t want your hand to start cramping or your handwriting to become illegible mid-exam.

During the Exam – Manage your time & follow instructions.

On the first page of the exam, you are told what topic each question is based on, and how many questions there are. Spend the first few minutes jotting down the start time and end time for each question. It sounds inconvenient, but a plan will make you more likely to stay on track and not stress out about how much time is left towards the end of the exam.

You don’t have to do the questions in order, although it is highly recommended.

Exam Questions

Each question typically has two to six parts. Each question will be preceded by a short text explaining the scenario. First, scan the question and understand what is being asked. Then as you read, underline key information that you will need to solve the question.

Each question comes with a footnote telling you how long to spend on the question and where to answer it. It’s a good idea to stick to the time advised by the examination. Another thing to note is that the time allotted tells you how many marks a question is worth. For example, 5 minutes means 5 marks - so allocate your time accordingly.

When answering the questions:

Pay attention to command words. Words such as formulate, calculate, etc., all mean different things, and these words determine how you should answer the questions. The command words document on the CFA Institute website, is a must-read for every student.

Answer everything . Answer all subparts of all questions. Understand what the question is asking and state your answers clearly. Even if you are stuck, don’t skip the question, but write down the best answer you can think of. Best case scenario, you’ll get a few marks for it.

Don’t get hung-up on a question you can’t answer. If your allotted time for that question is over, jot down the best answer you have and move on. If you have time in the end, come back and take another look.

Keep your answers short and to the point. Bullet points are strongly recommended. Avoid irrelevant or tangential information. If the question asks you for 2 points and you write 4, the third and fourth points will be struck out by the examiners.

Within a question your assumptions should be consistent. State important assumptions you make, and avoid contradictory statements.

I have made a video blog of this same post, so be sure watch that too!

All the best,

Arif Irfanullah, CFA

Link to the CFA candidates login page: https://goo.gl/lNzSYi

I take time to read the case. I have to read and reread to answer correctly. What do you recommend me to do so that I can read the case faster and understand the main points?

Was thinking to post a question on where to start with essay questions - read question first or go through the entire case; I think I will scan the question first then case and the question again.

CFA essay questiones usually mark in bold some key words like: describe, calculate, discuss… is there any recomendation on how to answer each question depending on how is asked? Looking forward your response,

This is critical advice.

Unfortunately, the command word definitions on the CFA Institute website do not offer a lot of practical advice on how to respond to specific command words. As a supplement to that, I wrote a Survivor’s Guide to the CFA Institute Command Words that discusses how to respond to each command word (or, at least, to each one used on the actual morning exams over the last 20 years).

Not “usually”.

I wrote my Survivor’s Guide to answer exactly that.

helpful and practical answers!))

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CFA® Level 3 Past Papers, Mock test - Download Past Exam Papers PDF

  • Preparation Tips
  • Application

The CFA level 3 question pattern consists of two types of questions- CFA level 3 essay questions and item set questions. The item set question consists of 4-6 multiple-choice questions per item set. The essay type of questions require two types of responses - word-based and calculation-based responses. It is recommended to go through the past papers for CFA level 3 2024 and the CFA® level 3 curriculum to prepare well for the exam and be aware of the exam format.

New: CFA Level 1 Feb 2024 Out

Also Check:  CFA Level 1 & 2 Nov 2024 registration open

Latest:  CFA complete guide

Sample paper pdf for CFA level 3 2024

Cfa® level 3 question type, cfa® level 3 exam pattern, cfa® level 3 mock exam 2024, cfa level 3 essay questions, cfa 2024 level 3 essay questions format and scoring:, how to be great at answering cfa level 3 essay questions - cfa level 3 essay tips:.

Solving the CFA level 3 2024 past papers will help the students understand the CFA® level 3 exam format, marking scheme, and difficulty level of the CFA level 3 essay questions 2024. To know more about CFA level 3 past papers 2024, CFA® level 3 exam pattern , type of questions and CFA level 3 curriculum, please check the complete article.

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The CFA website has examples of CFA level 3 essay questions as well as examples of Level III item set questions with their guideline answers. The past papers for CFA® level 3 2024 will be similar to the main exam in terms of structure and difficulty level.

CFA sample papers PDF Link CFA level 3 essay questions Click here for pdf CFA Level 3 item set questions CFA Level 3 essay guidelines

The CFA® level 3 exam consists of two types of questions- item set questions and essay type questions. Each item set question will have a paragraph and multiple-choice questions based on the given paragraph. Each item set will have 4-6 MCQ based on it. The essay type questions are based on word-based or calculator based responses. The students have to give detailed answers to the essay type of questions. Candidates can attempt each type of question in the Level 3 past papers for CFA® 2024.

Also Read: CFA Level 3 Result 2024

There are multiple-choice questions in the exam pattern of CFA Level 3. There is no negative marking in the CFA® level 3 exam. The marks for the essay questions vary but the item set question carries 3 marks for each MCQ.

Exam pattern Type of questions Multiple-choice questions Marking scheme No negative marking Duration of exam 4 hours 24 minutes Sessions Morning and afternoon session Medium of exam English

The CFA Institute provides practice questions and mock exams in order to help candidates get the exam experience and understand their level of preparedness. Mock exams or CFA® level 3 question bank can be accessed through the Learning ecosystem page of the website. The registered candidates can attempt multiple mock exams to practice each topic for the exam.

The mock exams come along with feedback for each answer and a detailed explanation for the answers.

The Chartered Financial Analyst Institute uses items sets and essay format for CFA level 3 exam. Each essay question in the CFA level 3 question bank consists of an essay with 2 or more related items that will require a written response. There are mainly 2 categories of CFA level 3 essay questions 2024. One is the word-based responses and the other is the calculation-based responses. The essay questions for CFA level 3 2024 are written exactly based on the CFA curriculum.

Since the CFA Level 3 February 2024 session, item sets and constructed response (essay) sets will be mixed within each of the two exam sessions, so each session will have either 6 item sets and 5 essay sets or 5 item sets and 6 essay sets. Previously, the first session was all essay sets and the second session was all item sets. Level III overall will not change: 11 essay sets and 11 item sets, for 12 points each . As candidates have consistently had difficulty finishing the essay session but often finished the item set session early, this change should improve candidates’ ability to finish each session in the allowed time.

The CFA Level 3 essay question will be scored based on their length and complexity. Candidates should answer the essay questions for CFA level 3 2024 in a detail and concise manner. They should answer the essay questions using bullet points and correct calculations. Candidates are advised to go through the CFA level 3 sample questions to understand the exam format better and to study accordingly. For more information on the CFA 2024 Level 3 Essay Questions, their format, scoring, CFA level 3 past papers, refer to the complete article.

The CFA Level III exam consists of essay questions and item set based questions. All the questions are created directly from the curriculum. There is no negative marking for wrong answers. The essay questions for CFA level 3 2024 are either word-based or calculation-based. The longer essays will have more weight in terms of scoring.

In calculation based questions, the candidates can either answer directly or choose to show their calculations as part of their response. An overview of the essay questions format and duration is given below:

Level III Exam Format

Candidates are advised to follow certain study tips to appear for the CFA Level 3 exam. The study tips that will help the students in scoring well are given below:

1) Understand the two types of CFA level 3 essay questions 2024. One is the constructed responses type or word-based responses type questions and the other involves calculations.

2) In calculation based questions, candidates should show the steps that allowed them to reach their calculations as they will get partial points for doing correct steps even if their actual answer was wrong.

3) Candidates should write to the point as that will help them save time. They are also advised to present their answers well using bullet points.

4) Read carefully as essay questions will require the candidate to process lot of case information to solve the question. With focused reading, the candidate can find what they are looking for.

5) Be careful of the time spent on answering a question. When practising with sample CFA level 3 essay questions and answers prepare a plan on allocation of time for each answer.

6) If a candidate is finding it difficult to find the answer then they should know when to leave the question and move on. Don't remain stuck with one question, instead explore your chances with other questions.

CFA Level 3 Mock Test and Practice Questions:

To help candidates prepare for the exam, CFA Institute offers different types of practice, including practice questions and a mock exam, through their Learning Ecosystem to all registered candidates. Candidates can practise with several CFA Level 3 essay question examples. These practice questions will help in assessing level of confidence and accuracy along the way. Then, in advance of the exam, take a mock exam, which mimics the exam-day experience as closely as possible

Other Related Links

CFA Level 3 Exam Pattern 2024

CFA Level 3 Test Centres 2024

CFA Level 3 Result 2024

CFA Level 3 Sample Papers 2024

Frequently Asked Question (FAQs)

Yes, candidates can retake the exam by re-registering for the exam and paying the registration fee again within a period of 6 months.

The past papers for CFA® level 3 2024 help in understanding the exam format, type of questions and difficulty level of the exam.

The CFA Level III exams will be conducted in February and August sessions during a particular year.

No, the exam date cannot change but the students have an option to postpone their own appointment to the next term.

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Database professionals use software to store and organise data such as financial information, and customer shipping records. Individuals who opt for a career as data administrators ensure that data is available for users and secured from unauthorised sales. DB administrators may work in various types of industries. It may involve computer systems design, service firms, insurance companies, banks and hospitals.

Bio Medical Engineer

The field of biomedical engineering opens up a universe of expert chances. An Individual in the biomedical engineering career path work in the field of engineering as well as medicine, in order to find out solutions to common problems of the two fields. The biomedical engineering job opportunities are to collaborate with doctors and researchers to develop medical systems, equipment, or devices that can solve clinical problems. Here we will be discussing jobs after biomedical engineering, how to get a job in biomedical engineering, biomedical engineering scope, and salary. 

Ethical Hacker

A career as ethical hacker involves various challenges and provides lucrative opportunities in the digital era where every giant business and startup owns its cyberspace on the world wide web. Individuals in the ethical hacker career path try to find the vulnerabilities in the cyber system to get its authority. If he or she succeeds in it then he or she gets its illegal authority. Individuals in the ethical hacker career path then steal information or delete the file that could affect the business, functioning, or services of the organization.

GIS officer work on various GIS software to conduct a study and gather spatial and non-spatial information. GIS experts update the GIS data and maintain it. The databases include aerial or satellite imagery, latitudinal and longitudinal coordinates, and manually digitized images of maps. In a career as GIS expert, one is responsible for creating online and mobile maps.

Data Analyst

The invention of the database has given fresh breath to the people involved in the data analytics career path. Analysis refers to splitting up a whole into its individual components for individual analysis. Data analysis is a method through which raw data are processed and transformed into information that would be beneficial for user strategic thinking.

Data are collected and examined to respond to questions, evaluate hypotheses or contradict theories. It is a tool for analyzing, transforming, modeling, and arranging data with useful knowledge, to assist in decision-making and methods, encompassing various strategies, and is used in different fields of business, research, and social science.

Geothermal Engineer

Individuals who opt for a career as geothermal engineers are the professionals involved in the processing of geothermal energy. The responsibilities of geothermal engineers may vary depending on the workplace location. Those who work in fields design facilities to process and distribute geothermal energy. They oversee the functioning of machinery used in the field.

Database Architect

If you are intrigued by the programming world and are interested in developing communications networks then a career as database architect may be a good option for you. Data architect roles and responsibilities include building design models for data communication networks. Wide Area Networks (WANs), local area networks (LANs), and intranets are included in the database networks. It is expected that database architects will have in-depth knowledge of a company's business to develop a network to fulfil the requirements of the organisation. Stay tuned as we look at the larger picture and give you more information on what is db architecture, why you should pursue database architecture, what to expect from such a degree and what your job opportunities will be after graduation. Here, we will be discussing how to become a data architect. Students can visit NIT Trichy , IIT Kharagpur , JMI New Delhi . 

Remote Sensing Technician

Individuals who opt for a career as a remote sensing technician possess unique personalities. Remote sensing analysts seem to be rational human beings, they are strong, independent, persistent, sincere, realistic and resourceful. Some of them are analytical as well, which means they are intelligent, introspective and inquisitive. 

Remote sensing scientists use remote sensing technology to support scientists in fields such as community planning, flight planning or the management of natural resources. Analysing data collected from aircraft, satellites or ground-based platforms using statistical analysis software, image analysis software or Geographic Information Systems (GIS) is a significant part of their work. Do you want to learn how to become remote sensing technician? There's no need to be concerned; we've devised a simple remote sensing technician career path for you. Scroll through the pages and read.

Budget Analyst

Budget analysis, in a nutshell, entails thoroughly analyzing the details of a financial budget. The budget analysis aims to better understand and manage revenue. Budget analysts assist in the achievement of financial targets, the preservation of profitability, and the pursuit of long-term growth for a business. Budget analysts generally have a bachelor's degree in accounting, finance, economics, or a closely related field. Knowledge of Financial Management is of prime importance in this career.

Underwriter

An underwriter is a person who assesses and evaluates the risk of insurance in his or her field like mortgage, loan, health policy, investment, and so on and so forth. The underwriter career path does involve risks as analysing the risks means finding out if there is a way for the insurance underwriter jobs to recover the money from its clients. If the risk turns out to be too much for the company then in the future it is an underwriter who will be held accountable for it. Therefore, one must carry out his or her job with a lot of attention and diligence.

Finance Executive

Product manager.

A Product Manager is a professional responsible for product planning and marketing. He or she manages the product throughout the Product Life Cycle, gathering and prioritising the product. A product manager job description includes defining the product vision and working closely with team members of other departments to deliver winning products.  

Operations Manager

Individuals in the operations manager jobs are responsible for ensuring the efficiency of each department to acquire its optimal goal. They plan the use of resources and distribution of materials. The operations manager's job description includes managing budgets, negotiating contracts, and performing administrative tasks.

Stock Analyst

Individuals who opt for a career as a stock analyst examine the company's investments makes decisions and keep track of financial securities. The nature of such investments will differ from one business to the next. Individuals in the stock analyst career use data mining to forecast a company's profits and revenues, advise clients on whether to buy or sell, participate in seminars, and discussing financial matters with executives and evaluate annual reports.

A Researcher is a professional who is responsible for collecting data and information by reviewing the literature and conducting experiments and surveys. He or she uses various methodological processes to provide accurate data and information that is utilised by academicians and other industry professionals. Here, we will discuss what is a researcher, the researcher's salary, types of researchers.

Welding Engineer

Welding Engineer Job Description: A Welding Engineer work involves managing welding projects and supervising welding teams. He or she is responsible for reviewing welding procedures, processes and documentation. A career as Welding Engineer involves conducting failure analyses and causes on welding issues. 

Transportation Planner

A career as Transportation Planner requires technical application of science and technology in engineering, particularly the concepts, equipment and technologies involved in the production of products and services. In fields like land use, infrastructure review, ecological standards and street design, he or she considers issues of health, environment and performance. A Transportation Planner assigns resources for implementing and designing programmes. He or she is responsible for assessing needs, preparing plans and forecasts and compliance with regulations.

Environmental Engineer

Individuals who opt for a career as an environmental engineer are construction professionals who utilise the skills and knowledge of biology, soil science, chemistry and the concept of engineering to design and develop projects that serve as solutions to various environmental problems. 

Safety Manager

A Safety Manager is a professional responsible for employee’s safety at work. He or she plans, implements and oversees the company’s employee safety. A Safety Manager ensures compliance and adherence to Occupational Health and Safety (OHS) guidelines.

Conservation Architect

A Conservation Architect is a professional responsible for conserving and restoring buildings or monuments having a historic value. He or she applies techniques to document and stabilise the object’s state without any further damage. A Conservation Architect restores the monuments and heritage buildings to bring them back to their original state.

Structural Engineer

A Structural Engineer designs buildings, bridges, and other related structures. He or she analyzes the structures and makes sure the structures are strong enough to be used by the people. A career as a Structural Engineer requires working in the construction process. It comes under the civil engineering discipline. A Structure Engineer creates structural models with the help of computer-aided design software. 

Highway Engineer

Highway Engineer Job Description:  A Highway Engineer is a civil engineer who specialises in planning and building thousands of miles of roads that support connectivity and allow transportation across the country. He or she ensures that traffic management schemes are effectively planned concerning economic sustainability and successful implementation.

Field Surveyor

Are you searching for a Field Surveyor Job Description? A Field Surveyor is a professional responsible for conducting field surveys for various places or geographical conditions. He or she collects the required data and information as per the instructions given by senior officials. 

Orthotist and Prosthetist

Orthotists and Prosthetists are professionals who provide aid to patients with disabilities. They fix them to artificial limbs (prosthetics) and help them to regain stability. There are times when people lose their limbs in an accident. In some other occasions, they are born without a limb or orthopaedic impairment. Orthotists and prosthetists play a crucial role in their lives with fixing them to assistive devices and provide mobility.

Pathologist

A career in pathology in India is filled with several responsibilities as it is a medical branch and affects human lives. The demand for pathologists has been increasing over the past few years as people are getting more aware of different diseases. Not only that, but an increase in population and lifestyle changes have also contributed to the increase in a pathologist’s demand. The pathology careers provide an extremely huge number of opportunities and if you want to be a part of the medical field you can consider being a pathologist. If you want to know more about a career in pathology in India then continue reading this article.

Veterinary Doctor

Speech therapist, gynaecologist.

Gynaecology can be defined as the study of the female body. The job outlook for gynaecology is excellent since there is evergreen demand for one because of their responsibility of dealing with not only women’s health but also fertility and pregnancy issues. Although most women prefer to have a women obstetrician gynaecologist as their doctor, men also explore a career as a gynaecologist and there are ample amounts of male doctors in the field who are gynaecologists and aid women during delivery and childbirth. 

Audiologist

The audiologist career involves audiology professionals who are responsible to treat hearing loss and proactively preventing the relevant damage. Individuals who opt for a career as an audiologist use various testing strategies with the aim to determine if someone has a normal sensitivity to sounds or not. After the identification of hearing loss, a hearing doctor is required to determine which sections of the hearing are affected, to what extent they are affected, and where the wound causing the hearing loss is found. As soon as the hearing loss is identified, the patients are provided with recommendations for interventions and rehabilitation such as hearing aids, cochlear implants, and appropriate medical referrals. While audiology is a branch of science that studies and researches hearing, balance, and related disorders.

An oncologist is a specialised doctor responsible for providing medical care to patients diagnosed with cancer. He or she uses several therapies to control the cancer and its effect on the human body such as chemotherapy, immunotherapy, radiation therapy and biopsy. An oncologist designs a treatment plan based on a pathology report after diagnosing the type of cancer and where it is spreading inside the body.

Are you searching for an ‘Anatomist job description’? An Anatomist is a research professional who applies the laws of biological science to determine the ability of bodies of various living organisms including animals and humans to regenerate the damaged or destroyed organs. If you want to know what does an anatomist do, then read the entire article, where we will answer all your questions.

For an individual who opts for a career as an actor, the primary responsibility is to completely speak to the character he or she is playing and to persuade the crowd that the character is genuine by connecting with them and bringing them into the story. This applies to significant roles and littler parts, as all roles join to make an effective creation. Here in this article, we will discuss how to become an actor in India, actor exams, actor salary in India, and actor jobs. 

Individuals who opt for a career as acrobats create and direct original routines for themselves, in addition to developing interpretations of existing routines. The work of circus acrobats can be seen in a variety of performance settings, including circus, reality shows, sports events like the Olympics, movies and commercials. Individuals who opt for a career as acrobats must be prepared to face rejections and intermittent periods of work. The creativity of acrobats may extend to other aspects of the performance. For example, acrobats in the circus may work with gym trainers, celebrities or collaborate with other professionals to enhance such performance elements as costume and or maybe at the teaching end of the career.

Video Game Designer

Career as a video game designer is filled with excitement as well as responsibilities. A video game designer is someone who is involved in the process of creating a game from day one. He or she is responsible for fulfilling duties like designing the character of the game, the several levels involved, plot, art and similar other elements. Individuals who opt for a career as a video game designer may also write the codes for the game using different programming languages.

Depending on the video game designer job description and experience they may also have to lead a team and do the early testing of the game in order to suggest changes and find loopholes.

Radio Jockey

Radio Jockey is an exciting, promising career and a great challenge for music lovers. If you are really interested in a career as radio jockey, then it is very important for an RJ to have an automatic, fun, and friendly personality. If you want to get a job done in this field, a strong command of the language and a good voice are always good things. Apart from this, in order to be a good radio jockey, you will also listen to good radio jockeys so that you can understand their style and later make your own by practicing.

A career as radio jockey has a lot to offer to deserving candidates. If you want to know more about a career as radio jockey, and how to become a radio jockey then continue reading the article.

Choreographer

The word “choreography" actually comes from Greek words that mean “dance writing." Individuals who opt for a career as a choreographer create and direct original dances, in addition to developing interpretations of existing dances. A Choreographer dances and utilises his or her creativity in other aspects of dance performance. For example, he or she may work with the music director to select music or collaborate with other famous choreographers to enhance such performance elements as lighting, costume and set design.

Social Media Manager

A career as social media manager involves implementing the company’s or brand’s marketing plan across all social media channels. Social media managers help in building or improving a brand’s or a company’s website traffic, build brand awareness, create and implement marketing and brand strategy. Social media managers are key to important social communication as well.

Photographer

Photography is considered both a science and an art, an artistic means of expression in which the camera replaces the pen. In a career as a photographer, an individual is hired to capture the moments of public and private events, such as press conferences or weddings, or may also work inside a studio, where people go to get their picture clicked. Photography is divided into many streams each generating numerous career opportunities in photography. With the boom in advertising, media, and the fashion industry, photography has emerged as a lucrative and thrilling career option for many Indian youths.

An individual who is pursuing a career as a producer is responsible for managing the business aspects of production. They are involved in each aspect of production from its inception to deception. Famous movie producers review the script, recommend changes and visualise the story. 

They are responsible for overseeing the finance involved in the project and distributing the film for broadcasting on various platforms. A career as a producer is quite fulfilling as well as exhaustive in terms of playing different roles in order for a production to be successful. Famous movie producers are responsible for hiring creative and technical personnel on contract basis.

Copy Writer

In a career as a copywriter, one has to consult with the client and understand the brief well. A career as a copywriter has a lot to offer to deserving candidates. Several new mediums of advertising are opening therefore making it a lucrative career choice. Students can pursue various copywriter courses such as Journalism , Advertising , Marketing Management . Here, we have discussed how to become a freelance copywriter, copywriter career path, how to become a copywriter in India, and copywriting career outlook. 

In a career as a vlogger, one generally works for himself or herself. However, once an individual has gained viewership there are several brands and companies that approach them for paid collaboration. It is one of those fields where an individual can earn well while following his or her passion. 

Ever since internet costs got reduced the viewership for these types of content has increased on a large scale. Therefore, a career as a vlogger has a lot to offer. If you want to know more about the Vlogger eligibility, roles and responsibilities then continue reading the article. 

For publishing books, newspapers, magazines and digital material, editorial and commercial strategies are set by publishers. Individuals in publishing career paths make choices about the markets their businesses will reach and the type of content that their audience will be served. Individuals in book publisher careers collaborate with editorial staff, designers, authors, and freelance contributors who develop and manage the creation of content.

Careers in journalism are filled with excitement as well as responsibilities. One cannot afford to miss out on the details. As it is the small details that provide insights into a story. Depending on those insights a journalist goes about writing a news article. A journalism career can be stressful at times but if you are someone who is passionate about it then it is the right choice for you. If you want to know more about the media field and journalist career then continue reading this article.

Individuals in the editor career path is an unsung hero of the news industry who polishes the language of the news stories provided by stringers, reporters, copywriters and content writers and also news agencies. Individuals who opt for a career as an editor make it more persuasive, concise and clear for readers. In this article, we will discuss the details of the editor's career path such as how to become an editor in India, editor salary in India and editor skills and qualities.

Individuals who opt for a career as a reporter may often be at work on national holidays and festivities. He or she pitches various story ideas and covers news stories in risky situations. Students can pursue a BMC (Bachelor of Mass Communication) , B.M.M. (Bachelor of Mass Media) , or  MAJMC (MA in Journalism and Mass Communication) to become a reporter. While we sit at home reporters travel to locations to collect information that carries a news value.  

Corporate Executive

Are you searching for a Corporate Executive job description? A Corporate Executive role comes with administrative duties. He or she provides support to the leadership of the organisation. A Corporate Executive fulfils the business purpose and ensures its financial stability. In this article, we are going to discuss how to become corporate executive.

Multimedia Specialist

A multimedia specialist is a media professional who creates, audio, videos, graphic image files, computer animations for multimedia applications. He or she is responsible for planning, producing, and maintaining websites and applications. 

Quality Controller

A quality controller plays a crucial role in an organisation. He or she is responsible for performing quality checks on manufactured products. He or she identifies the defects in a product and rejects the product. 

A quality controller records detailed information about products with defects and sends it to the supervisor or plant manager to take necessary actions to improve the production process.

Production Manager

A QA Lead is in charge of the QA Team. The role of QA Lead comes with the responsibility of assessing services and products in order to determine that he or she meets the quality standards. He or she develops, implements and manages test plans. 

Process Development Engineer

The Process Development Engineers design, implement, manufacture, mine, and other production systems using technical knowledge and expertise in the industry. They use computer modeling software to test technologies and machinery. An individual who is opting career as Process Development Engineer is responsible for developing cost-effective and efficient processes. They also monitor the production process and ensure it functions smoothly and efficiently.

AWS Solution Architect

An AWS Solution Architect is someone who specializes in developing and implementing cloud computing systems. He or she has a good understanding of the various aspects of cloud computing and can confidently deploy and manage their systems. He or she troubleshoots the issues and evaluates the risk from the third party. 

Azure Administrator

An Azure Administrator is a professional responsible for implementing, monitoring, and maintaining Azure Solutions. He or she manages cloud infrastructure service instances and various cloud servers as well as sets up public and private cloud systems. 

Computer Programmer

Careers in computer programming primarily refer to the systematic act of writing code and moreover include wider computer science areas. The word 'programmer' or 'coder' has entered into practice with the growing number of newly self-taught tech enthusiasts. Computer programming careers involve the use of designs created by software developers and engineers and transforming them into commands that can be implemented by computers. These commands result in regular usage of social media sites, word-processing applications and browsers.

Information Security Manager

Individuals in the information security manager career path involves in overseeing and controlling all aspects of computer security. The IT security manager job description includes planning and carrying out security measures to protect the business data and information from corruption, theft, unauthorised access, and deliberate attack 

ITSM Manager

Automation test engineer.

An Automation Test Engineer job involves executing automated test scripts. He or she identifies the project’s problems and troubleshoots them. The role involves documenting the defect using management tools. He or she works with the application team in order to resolve any issues arising during the testing process. 

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  1. How to Be Great at Answering CFA Level 3 Essay Questions

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  6. Major Tip How To Answer CFA Level 3 Essay Questions

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  7. CFA® Level 3 Mock Exam for 2024

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  8. CFA Level 3 Question Bank With 180+ Practice Questions

    180+ Exam-Like CFA Level 3 Practice Questions. 110 multiple choice practice questions. 70+ constructed response questions the exam's vignette format. Covers all Level 3 LOS (learning outcome statements) Routinely updated by our in-house CFA charterholders.

  9. CFA Level III Practice Questions

    CFA Level III Questions Quick Facts. According to the CFA Institute, Level III pass rates are at around 39%. The CFA Level III exam format consists of a combination of item set questions and constructed response or essay questions. The most heavily weighted topic areas on the Level III exam are Portfolio Management and Wealth Planning.

  10. Level III Essay Exam

    The Level III exam is made up of two parts. The first is a structured response (essay) exam and the second, a vignette multiple choice exam. This post focuses on the structured response, which, in my opinion, is the greatest obstacle lying between you and the CFA charter. Until now, you've only been answering multiple choice questions in your ...

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  12. How to Write Your CFA® Scholarship Essay?

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  13. CFA Level III

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  14. CFA® Level 3 Past Papers, Mock test

    Sample paper pdf for CFA level 3 2024. The CFA website has examples of CFA level 3 essay questions as well as examples of Level III item set questions with their guideline answers. The past papers for CFA® level 3 2024 will be similar to the main exam in terms of structure and difficulty level. CFA sample papers. PDF Link.

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