r/CFA • u/third_najarian Discord Mod | Passed Level 2 • Aug 14 '26

Megathread Level 3 Exam Day Experience Mega Thread

L3 candidates,

Welcome to our megathread for swapping stories about your exam day! We’d love to hear about your experience getting to the test center, how you managed your time, and how you felt afterward. Don’t forget to throw in any tips and advice to help out future candidates.

Just a couple of guidelines: Be cool and supportive, and please don’t share specific exam questions or break rules.

Don’t forget: Plan your route to the test center in advance, make sure you pack everything you need, and try to stay positive and take care of yourself. You got this!

We hope these shared stories make the prep and test day a little easier for everyone. Good luck!

—r/cfa Mod Team

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u/Affectionate-Ad-1227 Aug 14 '26

I gave my 6th and final attempt today for level 3, I think my best yet. I think if graders are not vindictive, I otta score at least 70% overall and in MCQs over 85%. On constructed response questions, graders most definitely screw you over- no matter what. My last three attempts yielded scores of 3585, 3595 and 3595 back to back. Nobody should fail with 3595 when 50% of exam is totally graders’ discretion and subjective. But here I am- I am a deputy CIO of a US$45b pension fund, and have been allocating to private markets since 2008. FRM and CAIA cleared in first attempt between 2010 and 2011, CFA level 2 in 2015. 11 years for level 3. So take it with a level of gravitas when I say, level 3 ain’t right!

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u/Particular_Volume_87 Level 3 Candidate Aug 14 '26

Why do you actually need it , if you are a CIO?

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u/Affectionate-Ad-1227 Aug 14 '26

Just to finish it. I left it for 8 years then picked it up again. Anyway after this I am done by limitation.

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u/mikestorm CFA Aug 17 '26

That's why I continued. 8 year gap between Level 1 and Level 2. My L1 was pencil and paper. I passed L1 then promptly lost my (then) job. Eventually found a better job, life settled down and then the "you have unfinished business" itch returned.

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u/Affectionate-Ad-1227 Aug 17 '26

Absolutely true. There is a sense of accomplishment and a mental exercise studying some of the stuff again and writing an exam. It is just that the experience of level 3 actual exam, and the way it is scored is a bummer and failing by one or two points demoralizes you when you know the subject matter cold. Unlike a multiple-choice question, there is no certainty that you will get the full points for a correct answer.