Cfa Level 3 Exam Questions _verified_ Access

Starting in 2025, the CFA Institute is introducing . This hybrid format bridges the gap between traditional multiple-choice and essay writing. In this format, candidates are presented with a vignette (a case story) followed by a mix of multiple-choice items and short-answer constructed response items.

| Component | Details | |-----------|---------| | | 4 hours 24 minutes (two sessions of 2h12m each) | | Question format | Constructed response (essay) + item set (multiple choice) | | Session 1 | Essay / constructed response (e.g., 8–11 questions, with sub-parts) | | Session 2 | Item sets (each with 4 multiple-choice questions) | | Weighting | ~50% essay, ~50% item sets (but can vary slightly) | cfa level 3 exam questions