CFA Level 3 course is a globally recognized qualification offered by the CFA Institute, situated in the United States. CFA is preceded by two more courses - CFA Level 1 and CFA Level 2. The entire duration of a CFA course is 3 to 4 years. CFA Level 3 exams are conducted twice a year.
To be eligible to take CFA Level 3 exam, the candidate should have successfully cleared CFA Level 1 and CFA Level 2 plus should have a relevant work experience of 4 years. The candidates can register for the CFA Level 3 exam at the official website of CFA. The examination fee is 900 USD for early registration and 1200 USD for standard registration.
The subjects covered in the CFA Level 3 exam are Portfolio Management and Wealth Planning, Fixed Income, Ethical and Professional Standards, Equity Investments, etc. Each subject has its own weight. The total duration of the CFA Level 3 exam is 4 hours and 24 minutes.
The candidates who pass this exam can work as Chartered Financial AnalystInvestment Managers, Portfolio Managers, Private Bankers, Risk Managers, etc. in various sectors. The top recruiters of CFAs are HSBC, JP Morgan, Credit Suisse, Deloitte, PwC, and many more.
CFA Level 3 Course Highlights
| Particulars | CFA Course Level 3 |
|---|---|
| Course Level | Professional Credential |
| Offering Institute | CFA Institute, USA |
| Eligibility |
|
| Frequency of the exam | Twice a year |
| Entrance Exams | No |
| Average Fee | INR 73,800 to INR 98,400 |
| Job Prospect | Chartered Financial Analyst, Business Consultant, Market Research Analyst, Investment Manager, etc. |
| Average Salary | INR 28 LPA |
See Also: CFA Course Overview
CFA Level 3 Requirements
To register for the CFA Level 3 exam, candidates must meet the following requirements:
- Candidates must have successfully passed both the CFA Level 1 and Level 2 exams.
- Candidates can register for the Level 3 exam if they are in their final year of a bachelor's degree program.
- Candidates must have a minimum of 48 months of professional work experience. The experience should be full-time and can be acquired before, during, or after participating in the CFA Program.
Check Also: CFA Admission 2023
CFA Level 3 Registration
The registration process for the candidate who is willing to give the CFA level 3 exam needs to follow the below-mentioned process.
- The candidate is required to fill out the online application form with the necessary details and select the preferred exam center which is available on the website of CFA, i.e., https://www.cfainstitute.org/.
- Candidates should log in with their registered ID and password created for CFA Level 1 and CFA Level 2 registration and choose Level 3 of the CFA Program.
- Then fill in the details of your profession, employer, employer location or education level, etc.
- It is compulsory to read the candidate agreement and accept it.
- Candidates are required to select the format of the CFA study material they wish to get.
- The fees for the registration must be paid via credit card, wire transfer, and other payment methods.
CFA Level 3 Registration Fee Details
The fees for CFA Level 3 registration fee depends upon the time at which the candidates register for the exam. The CFA course carries a registration fee of USD 900, while the regular registration fee amounts to USD 1200. As per the basic criteria, candidates applying for CFA Level 3 are exempted from paying the enrollment fee of USD 350 during their registration for the CFA Level 3 exam.
The exam for CFA level 3 is conducted twice in 2023 i.e., in February and next in August.
| Particulars | Fees |
|---|---|
| CFA Level 3 enrollment fee | This is paid only in CFA level 1 |
| Early registration fee | USD 900 (INR 73,845) |
| Standard registration fee | USD 1200 (INR 98,460) |
| Exam rescheduling fee | USD 250 (INR 20,512.5) |
See Also:
CFA Level 3 Syllabus
The syllabus for the CFA level 3 exam and the list of important topics are provided on its official website i.e., https://www.cfainstitute.org/.
| Topics | Weightage |
|---|---|
| Portfolio Management and Wealth Planning | 35-40% |
| Fixed Income | 15-20% |
| Ethical and Professional Standards | 10-15% |
| Equity Investments | 10-15% |
| Economics | 5-10% |
| Derivatives | 5-10% |
| Alternative Investments | 5-10% |
| Financial Statement Analysis | 0% |
| Corporate Issuers/ Finance | 0% |
| Quantitative Methods | 0% |
CFA Level 3 Subject Details
The details of subjects of CFA level 3 are given below.
- Ethical and Professional Standards: This subject familiarizes candidates with ethical conduct and emphasizes the importance of professionalism within the investment market.
- Quantitative Methods: This subject covers topics such as descriptive statistics, probability theory, and investment decision-making.
- Economics: This subject encompasses the analysis of supply and demand from both individuals and firms, in addition to exploring microeconomic concepts and market structures.
- Financial Statement Analysis: This subject provides a comprehensive understanding of financial reports, including their standards and procedures, through detailed explanations.
- Corporate Issuers: This subject deals with corporate governance and stakeholder management.
- Equity Investments: It is a subject that focuses on the study of security markets, indexes, and equity investments within the economy.
- Fixed Income: This subject facilitates the learning of fixed-income securities, factors that pose risks to them, methods to preserve their value, and techniques for measuring their performance.
- Derivatives: This subject helps in understanding the fundamentals of derivatives and provides an overview of the derivative market framework.
- Alternative Investment: This focuses on the concepts of hedge funds, private equity, real estate, infrastructure, and other related areas.
- Portfolio Management and Wealth Planning: This subject helps in understanding the fundamental principles of portfolio management and wealth planning.
Check Also: CFA Subjects
CFA Level 3 Exam
The entire CFA Level I exam would be conducted for the duration of 4 hours and 24 minutes. It is split into two sessions, each of a time period of 2 hours and 12 minutes with an optional break in between.
Each session will now have either 6 item sets and 5 essay sets or 5 item sets and 6 essay sets.
There will be three types of questions, essay, numerical entry, and multiple choice.
The CFA level 3 exam is conducted two times a year.
All the 3 levels of the CFA exam would be conducted in English language only. Also, there will be no negative marking for any wrong answer.
CFA Level 3 Exam Dates
See Also: CFA Exam Pattern
| All Session | Dates |
|---|---|
| February Session | Check Dates |
| August Session | Check Dates |
Jobs and Salary
After the successful completion of the CFA certification course (including all 3 levels), a Chartered Financial Analyst can get employed in positions such as Private Banker, Investment Manager, Business Consultant, CFO, and many more. Let’s explore some of the job roles of a CFA.
Check Also: CFA Jobs
| Jobs | Description | Annual Salary |
|---|---|---|
| Chartered Financial Analyst | A CFA oversees the performance of stocks and makes important decisions about investment management for companies. | INR 4,00,000 - INR 16,00,000 |
| Investment Manager | An investment manager provides advice to companies or individuals about different investment options, including buying and selling bonds, mutual funds, securities, and stocks. | INR 13,00,000 |
| Portfolio Manager | Portfolio managers are responsible for creating and managing investment portfolios on behalf of clients. | INR 10,86,000 |
| Private Banker | Private Bankers assist individual clients in managing their personal accounts and financial risks, and services. | INR 624,000 |
| Risk Manager | Risk managers are responsible for identifying potential financial risks that the organization may encounter in the future and strive to find solutions to mitigate those risks. | INR 998,000 |
Top Recruiter for CFA Level 2
See Also: CFA Salary
Top Recruiters for CFA Level 3 are sought-after by candidates for their expertise in finance and investment. These recruiters connect aspiring professionals with lucrative job opportunities, leveraging the prestigious CFA designation and advanced knowledge gained at Level 3. Some of the top recruiters of Chartered Financial Analysts are listed below.
| JP Morgan and Co | HSBC | Credit Suisse | Deloitte | PwC |
| Earnst and Young | Hindustan Unilever Ltd | The Goldman Sachs Group Inc. | Crisil | ICRA |
| SBI Bank | Reliance Industries Limited | Axis Bank | HDFC Bank | Emami Agrotech Ltd |
| ITC | ICICI Bank | Aditya Sun Life | Bharti Airtel | Citigroup |
CFA Level 3: FAQs
Ques. Who is a CFA and its role?
Ans. A Chartered Financial Analyst (CFA) is an accredited professional in the field of finance and investments. This is certified by the CFA Institute to individuals who have successfully completed the program of study, passed all three levels of examinations, and fulfilled additional professional criteria.
Ques. If we reschedule the exam for CFA Level 3 then what are the fees for it?
Ans. CFA Institute does not charge any additional fees for scheduling the exams, For any candidate who wishes to reschedule the CFA level 3 exam, in such case a rescheduling fee has to be paid as per the guidelines.
Ques. What is the average salary for Chartered-Financial-Analyst (CFA)?
Ans. The Charted Financial analyst in India earns a salary between INR 350,000 to INR 35,00,000 per annum.
Ques. What is the passing rate for the CFA course exam?
Ans. The passing rate for different levels is comparatively less so it mostly lies between 40-50%.
Ques. Is a passport mandatory for CFA registration?
Ans. Yes, a candidate must possess an international passport for CFA registration.
Ques. How to pay the fee for CFA Level 3 exam?
Ans. The desired candidate can choose different modes of payment accepted for the CFA Level 3 exam which may include MasterCard, Personal, corporate, or bank cheques, American Express, JCB, Visa etc.
Ques. What are the eligibility criteria for doing CFA?
Ans. You are eligible if you are in your final year of your bachelor's program or already hold a bachelor's degree, or have a total professional work experience of 4 years.
Ques. What are the resources for studying for CFA exams?
Ans. There are many resources that are available to help you in studying the CFA exam some popular resources include:
- The CFA Institute curriculum
- The CFA Institute Mock Exams
- Third-party study guides and practice exams
Ques. What are the subjects in the CFA exam?
Ans. There are the following subjects in CFA such as:
- Ethical and Professional Standards
- Quantitative Methods
- Economics
- Financial Statement Analysis
- Corporate Finance
- Equity Investments
- Fixed Income
- Derivatives
- Alternative Investments
- Portfolio Management and Wealth Planning
Ques. What is the benefit of becoming a CFA charter holder?
Ans. Once you clear your exams and hold a CFA charter, there is increased professional credibility and recognition in society and also you can further enhance your knowledge and skills in investment analysis.
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