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CFA Institute

CFA Level III

Portfolio management capstone. Combines essay and item-set questions across private wealth and institutional mandates.

44 questions
270 min exam
7 topics

Course curriculum

1

Ethics & Professional Standards

10% of exam · 5 sections

Free
2

Behavioral Finance

5% of exam · 2 sections

3

Private Wealth Management

15% of exam · 4 sections

4

Institutional Asset Management

15% of exam · 3 sections

5

Equity & Fixed Income Strategies

15% of exam · 4 sections

6

Derivatives & Currency

10% of exam · 5 sections

7

Portfolio Construction & Monitoring

15% of exam · 9 sections

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About the Chartered Financial Analyst — Level III Exam

The Chartered Financial Analyst — Level III (CFA Level III) is administered by CFA Institute, with roughly ~30,000/yr candidates sitting it. The exam has 44 questions and a 4 hours 30 minutes time limit. Portfolio management capstone. Combines essay and item-set questions across private wealth and institutional mandates.

AskBoudin covers all 7 exam areas with an AI tutor and unlimited AI-generated practice questions. Start free — the first chapter is on us. Study at your own pace and take full-length mock exams that mirror the real CFA Level III weighting.

Exam topics & weighting

CFA Level III — Frequently asked questions

How many questions are on the CFA Level III exam?

The Chartered Financial Analyst — Level III has 44 questions and a 4 hours 30 minutes time limit. AskBoudin generates unlimited fresh practice questions across all 7 exam topics, so you never run out of material.

What topics does the CFA Level III cover?

The exam covers 7 areas: Ethics & Professional Standards, Behavioral Finance, Private Wealth Management, Institutional Asset Management, Equity & Fixed Income Strategies, Derivatives & Currency, Portfolio Construction & Monitoring. Each is weighted toward the real exam blueprint.

Is CFA Level III prep free to start?

Yes. The first chapter is always free — study with the AI tutor and take practice questions before paying anything.

How does the AI tutor help me pass the CFA Level III?

Ask the tutor any concept in plain English and get an instant explanation, then generate a fresh practice set on the same topic. It is available 24/7, so you are never stuck waiting for an instructor.

Aligned to the CFA Institute Level III curriculum.

Free CFA Level III cheat sheets

Quick-reference summaries for each CFA Level III topic — key facts, formulas, and rules at a glance. Free to read.