Free diagnostic
Free Level III practice test
20 questions on short item sets, 60 minutes. Then your score in each topic, a short lesson on the one to fix first and a study plan.
- 14 questions on the five core topics and 6 on your pathway, weighted like the exam. Have a financial calculator ready.
- No account, and nothing about your answers is kept.
- Questions come one at a time with their vignette on one clock, 3 minutes each, the real exam's pace.
The topics and their weights
| Topic | Share of the exam |
|---|---|
| Asset Allocation | 15 to 20% |
| Portfolio Construction | 15 to 20% |
| Performance Measurement | 5 to 10% |
| Derivatives and Risk Management | 10 to 15% |
| Ethical and Professional Standards | 10 to 15% |
| Your pathway: Portfolio Management, Private Markets or Private Wealth | 30 to 35% |
The real exam has 11 item sets and 11 essay sets over two 132-minute sessions, every set worth 12 points. The diagnostic uses item sets; the course and mocks add essay sets with model answers and marking guides.
How we score it
CFA Institute does not publish a passing score, so we do not estimate one. You get your share right in each topic, and one overall figure that counts each topic by its weight on the exam.
Original practice item sets for Level III of the CFA® Program, to the 2027 topic outline. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. CFA Institute does not endorse, promote or warrant the accuracy or quality of the products or services offered by UniGenius. Independent course, not affiliated with or sponsored by CFA Institute.