Exam Domains
1 Ethical and Professional Standards
12%
2 Behavioral Finance
Weight not published
3 Capital Market Expectations
Weight not published
5 Derivatives and Risk Management
12%
6 Fixed Income
Weight not published
7 Equity Investments
Weight not published
8 Alternative Investments
Weight not published
9 Portfolio Management for Institutional Investors
Weight not published
10 Trading, Performance Evaluation, and Manager Selection
Weight not published
11 Private Wealth Management
Weight not published
Exam Details
Question TypesMultiple Choice, Constructed Response (Essay) — Level III AM session
FormatLinear (computer-based)
Online ProctoringNot available
ID RequirementsOne valid, unexpired, original government-issued photo ID (passport strongly recommended internationally). ID must match the name on the CFA Institute registration exactly. Photocopies not accepted.
RenewalNot required -- CFA Charter is permanent. No renewal or continuing education required.
PrerequisitesMust pass CFA Level II before registering for Level III; 4,000 hours of relevant professional work experience required to receive CFA Charter after passing all 3 levels
Retake PolicyCandidates may register for the next available exam window after a failed attempt. CFA exams offered 2–4 times per year depending on level. No limit on total attempts.
LanguagesEnglish