CFA Level III Exam Preparation
Complete the final step of the CFA Program exams with a preparation course for Level III, which centres on portfolio management and wealth planning.
About this course
Complete the final step of the CFA Program exams with a preparation course for Level III, which centres on portfolio management and wealth planning. The core curriculum covers capital market expectations, asset allocation, portfolio construction, derivatives and risk management, performance measurement and ethics, and the course also prepares you for the specialised pathway you choose.
Level III includes constructed-response questions, so you will practise writing short, precise answers that earn marks, alongside item sets. A full mock exam and focused review complete your preparation.
What you'll learn
- Develop capital market expectations and use them in strategic asset allocation.
- Construct portfolios across equity, fixed income and alternative investments to meet client objectives.
- Use derivatives and currency management techniques to manage portfolio risk.
- Measure and evaluate portfolio performance, including attribution and manager selection.
- Apply the Code of Ethics, the Standards of Professional Conduct and the Global Investment Performance Standards (GIPS) in portfolio management.
- Prepare for the specialised pathway content in portfolio management, private wealth or private markets.
- Write clear, well-structured constructed-response answers and complete a full mock exam under timed conditions.
Curriculum
- Level III exam format
- Core curriculum and specialised pathways
- Constructed-response and item set questions
- Building a personal study plan
- Framework for forming expectations
- Economic and market analysis
- Forecasting asset class returns
- Using expectations in portfolio decisions
- Investment policy and client objectives
- Strategic asset allocation
- Asset allocation with real-world constraints
- Rebalancing
- Equity portfolio management
- Fixed income portfolio management
- Alternatives in a multi-asset portfolio
- Liability-driven and goals-based approaches
- Hedging with options, futures and swaps
- Currency management
- Managing interest rate and equity risk
- Risk management frameworks
- Return measurement and attribution
- Performance appraisal
- Benchmarks and manager selection
- Trading costs and execution
- Code of Ethics and Standards of Professional Conduct
- Ethics in portfolio management cases
- Global Investment Performance Standards (GIPS)
- Ethics case practice
- Overview of pathway content
- Index and active strategies
- Portfolio management case practice
- Overview of pathway content
- Understanding private clients and their goals
- Wealth planning and transfer
- Private wealth case practice
- Overview of pathway content
- Private equity, private debt and private real estate
- Valuation and due diligence in private markets
- Private markets case practice
- Reading the command words
- Structuring concise answers
- Showing calculations and justifications
- Marking practice answers
- Full timed mock exam
- Reviewing results by topic
- Targeted revision
- Final-weeks study plan
Who it's for
Candidates who have passed CFA Level II and are preparing to sit the Level III exam.
Before you start
- A pass in the CFA Level II exam.
Prepares for
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