CFA Level 3 2025 Exam Dates Announced: A Comprehensive Guide

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CFA Level 3 2025 Exam Dates Announced: A Comprehensive Guide

The Chartered Financial Analyst (CFA) Level 3 exam is the final level in the CFA Program, a globally recognized professional certification for investment professionals. The exam is designed to test candidates’ knowledge and skills in portfolio management, wealth planning, and ethical and professional standards.

The CFA Level 3 exam is offered twice a year, in May and November. The exam dates for 2025 have been announced as follows:

May 2025:

• Exam Window: May 19-21, 2025
• Registration Deadline: March 17, 2025
• Early Registration Deadline: January 12, 2025

November 2025:

• Exam Window: November 10-12, 2025
• Registration Deadline: September 15, 2025
• Early Registration Deadline: July 14, 2025

Exam Format

The CFA Level 3 exam consists of 220 multiple-choice questions, which are divided into 10 topic areas:

• Ethical and Professional Standards (15-20%)
• Economics (10-15%)
• Quantitative Methods (10-15%)
• Corporate Finance (15-20%)
• Equity Investments (20-25%)
• Fixed Income (10-15%)
• Derivatives (10-15%)
• Alternative Investments (5-10%)
• Portfolio Management (15-20%)
• Wealth Planning (10-15%)

Candidates have 6 hours and 15 minutes to complete the exam.

Eligibility

To be eligible to sit for the CFA Level 3 exam, candidates must have successfully passed the CFA Level 1 and Level 2 exams. Additionally, candidates must have at least 36 months of relevant work experience in the investment industry.

Registration

Candidates can register for the CFA Level 3 exam online through the CFA Institute website. The registration fee is $1,200 for members and $1,500 for non-members.

Preparation

The CFA Level 3 exam is a challenging exam that requires extensive preparation. Candidates should begin studying well in advance of the exam date. The CFA Institute recommends that candidates spend at least 300 hours studying for the exam.

There are a variety of resources available to help candidates prepare for the exam, including:

• The CFA Institute’s official curriculum
• Third-party study providers
• Online courses
• Practice exams

Exam Day

On exam day, candidates should arrive at the testing center at least 30 minutes early. Candidates will be required to present a valid photo ID and their CFA Institute membership card.

During the exam, candidates will be seated at individual workstations and will be provided with a pencil, eraser, and calculator. Candidates are not permitted to bring any other materials into the exam room.

Results

The results of the CFA Level 3 exam are typically released within 6-8 weeks after the exam date. Candidates who pass the exam will be awarded the CFA charter.

Conclusion

The CFA Level 3 exam is a challenging but rewarding experience. By passing the exam, candidates demonstrate their commitment to the investment profession and their ability to provide ethical and professional investment advice.

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