Things are a bit different in Level III, so I recommend familiarizing yourself with the format before you start studying. This will save you from getting caught up on exam day by the different format in the morning session, which includes essay-based questions. The afternoon session of Level III is similar to Level II with vignettes and item.
Need-to-Know Changes to Level III. Essay format: CFA throws another curve-ball at its Level III candidates with the essay format questions (officially referred to as structured response questions) in the morning session.On the bright side, the afternoon session is still vignettes and item-set questions, just like Level II.
Understand the exam topics and concepts assessed at each level of the CFA Program.. All exam questions are based on the content in the corresponding curriculum for that level and exam questions are based explicitly on Learning Outcome Statements (LOS).. out the Program Practice Analysis Fact Sheet and Where Theory Meets Practice for a.
CFA Institute provides access to past few years actual essay exams. These past essay exams are an excellent source of practice. However take care that due to curriculum changes, not all the past questions are relevant to the 2018 Level III exam! You can find the details about which questions from past essay exams are relevant by clicking here.