The CFA® program has three series, and the last one is CFA level 3 ethics. The exams conducted by the Institute of Chartered Financial Analyst. The candidate must have 48 months of work experience, and the success of the charter membership depends on clearing all three levels.
In the first two Ethics level, there are only basics of investment valuation, financial knowledge, and the applications. The CFA third level exams based on the wealth planning and management portfolio.
Structure of the Exam:
The format of the exam schedule in June. The exams have the mix-up questions of all three levels. The essay type question is also included in the Ethics level three exams. Basically, the Ethics exam level depends on the two exam schedule:
- Morning session
- Afternoon session
There are 10 to 15 questions based on the essay type in the morning session. These questions are subdivided into sections such as A, B, C and so on. It’s like organizing your answer in the right way. The question asks to develop the recommendation as well as asking for the right solution. There is 10 item set in the afternoon session. Every item set have multiple choice questions. The Ethics level 3 exams integrated with 360 points. CFA level 3 ethics are quite difficult rather than the previous level. The below table provides board areas and the topic of CFA exams:
|Topic Area||Level III|
|Ethical and Professional Standards (total)||10|
|Asset Classes (total)||35-45|
|Portfolio Management and Wealth Planning||45-55|
Strategies for passing the CFA exams:
A good deal of mystique and confusion about the CFA exams depends on how a candidate can pass it easily? Meanwhile, it is just like any other exam, but the CFA program has a higher passing score. The MPS is called the Minimum Passing Score.
The CFA Institute provides the CFA degree that is not disclosed to the candidate. According to the FinQuiz the Minimum passing score is about 55% to 70%. Do not get confused with the CFA passing rate. It normally represents the lowest percentage of passing the exams.
There is a different strategy of passing the level three Ethics. The CFA Institute feels if the candidate did not focus on the exams then it may lead to an unfair comparison for the year to year. Consequently, the MPS has made for all the Ethics level, whether it is level 1, level 2 or level 3.
Why are you confused about the level of Ethics?
Some candidate believes that the CFA level 3 Ethics is quite tough as compared to the previous level. However, this does not hold true. The whole course is divided into 3 different levels, and each level focuses on only one significant topic.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.