CFA Institute
CFA Level III
Portfolio management capstone. Combines essay and item-set questions across private wealth and institutional mandates.
Course curriculum
Behavioral Finance
5% of exam · 2 sections
Private Wealth Management
15% of exam · 4 sections
Institutional Asset Management
15% of exam · 3 sections
Equity & Fixed Income Strategies
15% of exam · 4 sections
Derivatives & Currency
10% of exam · 5 sections
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
- Ethics & Professional Standards10%
- Behavioral Finance5%
- Private Wealth Management15%
- Institutional Asset Management15%
- Equity & Fixed Income Strategies15%
- Derivatives & Currency10%
- Portfolio Construction & Monitoring15%
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.