Is cfa level 2 or 3 harder?

While typical passing rates for the CFA Level 3 exam are the highest of the CFA exams, only about 56% of CFA candidates pass the exam. Candidates should not pass the Level 2 exam, as this means that the Level 3 exam will be easier. For many, the CFA Level 3 exam may be the most difficult due to the open structure of the structured answer section. Below, we've compiled general information about each level of the CFA exam to help candidates decide which exam they find the most difficult.

I agree with the general view that the level of difficulty depends largely on the candidates' backgrounds. Regardless of which CFA level exam you're taking, the key to successfully passing it is to prepare yourself with an effective curriculum. In the afternoon session, candidates are faced with a series of 10 questions with multiple-choice questions elaborated and presented in a manner similar to those of level 2.Once you have collected a whole week of priorities and obligations, it will be easier to integrate the study sessions of the CFA exam. Candidates who pass the CFA Level 1 exam usually have a good command of the exam material.

Technically, it could be argued that this level is the most difficult CFA exam, especially if the candidate does not have a strong background or work experience in finance or a related field. On the other hand, candidates with experience in private wealth management are likely to find level 3 easier. This is normal, and it's much better to be realistic about your own unique needs rather than relying on what your colleagues or fellow candidates have achieved with their own CFA exam studies. For example, level 2 for year “X” may objectively be a more difficult exam than level 1 for the same year, simply because of the way the exam is administered.

It's a good idea to thoroughly understand the theories and topics related to the CFA Level 3 exam to help implement problem solving skills when studying for the exam. It's critical to keep in mind that all CFA certification candidates are different and, depending on your experience, current knowledge base, and academic record, you may need more or less time to study each or all of the sections. The CFA Institute emphasizes several areas evaluated in each exam, so the level of difficulty (to some extent) depends on the particular exam the candidate is taking.

Serena Lubahn
Serena Lubahn

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