For L3 passers only - How many practice exams?

CFA Level III
#21

I did 14 morning papers and about 10 afternoon papers.

Do every CFAI morning paper you can get your hands on, mark harsh and take a lot of time to review the template answers.

I also recommend doing a live mock where they get people to mark the morning paper for you, for me it was worth it.

#22

I believe some PM mock exams can be found on the CFAI website. I remember receiving a couple of emails saying they were available a few months before the exam. I used these as practice for the PM and did the 5 most recent AM practice exams for preparation.

#23

I did 5 from Schweser, and 2013 AM exam paper

#24
  • Mid-March through Mid-April - 6 Schweser
  • Mid-April up to May - worked on weak areas
  • Begining of May - 3 FinQuiz
  • Middle of May - 1 CFA
  • Middle of May up till the Thursday of the exam - 5 of the Schweser again

Schweser has better practice exams than Finquiz but Finquiz has better notes. Also, I wish I would have done the morning practice exams under the exact exam conditions as I was not prepared well enough on time management.

#25

Nine or ten.

#26

Zero. I used the Schweser QBank and the CFAI end of chapter questions. Also read through a lot of the old exams but did not so any simulated mocks.

#27

3 Schweser (book 1)

3 CFAI (latest 3, 2014, 13, 12)

Get consistently around 75%+ for all of them and I dont see how you canā€™t pass L3

Same story for L2/L1

  • passed all exams in 18 months
#28

I just posted something similar, you could take a lookā€¦

http://www.analystforum.com/forums/cfa-forums/cfa-level-iii-forum/91335274

#29

Hi,

in my case it was like:

AM-8

PM-8

#30

8-10 AM

4 PM

I would suggest practice as many AMs as you can

#31

I did 0 mock exams and passed. Same with level 1 and 2 (even I failed Level 1 once)

I think mock exams are overvalued and Iā€™d rather spend time reviewing the concepts and EOCā€¦the curriculum is big enough to get confused by additional input from the mock examsā€¦

#32

3 Schwesers + CFA 2013 exam

Not under ā€˜exam circumstancesā€™ though. Answer and evaluate question per question - as to actually learn from mistakes.

#33

wow, good effort but Iā€™d imagine youā€™re in the minority. the exam technique for the morning paper is essential and not doing any mocks is taking a huge risk in my opinion.

Thereā€™s a woman at my firm who doesnā€™t believe in doing mocks, she passed 1 and 2 1st time and has failed level 3 three times and Iā€™m not sure if she plans to resit. I would seriously struggle to trust the judgement of someone who made that mistake 3 times.

#34

Agree somehow. In fact I did quite bad in the AM session, but managed to recover with the PM session

Personally, I prefered to spend time reviewing and re-reading the books (+EOC questions), memorizing them very well and learn every single line or conceptā€¦rather than spending the last days or weeks with mock exams, which, I understand, often are not very similar to the exam format

#35

8 practice exams. 6 from schweser, 1 full from CFAI (2013 essays and version C of item sets I believe), and 1 full from BSAS. I used the other CFAI mocks (2011-2012 essays and version A-B item sets) as additional practiceā€¦pretty sure I completed all of the 2012 essays and did 1 or 2 of the 2011 and did maybe 5 of the version B item sets and 2 of the version Aā€¦it was targeted, basically only doing ones of topics where I had the lowest score from EOCā€™s and practice tests.

#36

I did all 6 Schweser exams and the CFAI 2014 mock exams. I complemented this by working with QBank but the questions there are too easy, my QBank scores were always stellar compared to the practice exam scores which were about 50% in the first exams

#37

2 AM CFA mocks, 1.5 PM CFA itemsets

#38

About 2-3 AM papers.

About 5-7 different past PM year papers and mock exams but I did them repeatedly.

#39

All 6 from Schweser and all the exams the CFAI put out on their website. I think a big part of L3 is learning how to get through the AM. Even though the Schweser questions were not a good representation of the AM exam I still learned from them and still practiced timing.

I finished the actual exam with 1 maybe 2 minutes to spare but usually had about 40 minutes left +/- on the practice exams so be sure to budget for the fact that time moves faster in the test center then at homeā€¦

#40

5 Full (AM & PM) mocks from schweser, 3 CFA PM mocks, 2 prior yr CFA morning exams.

Iā€™d say about 25% of my total study hours were spent on practice exams. Practice exams are more crucial for L3 than 1&2 in my opinion.