Use this structured syllabus to map Level III readings, understand the core portfolio-management focus, and plan your pathway preparation.
Overview
Exam structure, topic blocks, Pathways, and Level III prep priorities.
Syllabus
Module-by-module chapter list for the Level III curriculum and pathways.
Study Plan
A constructed-response and item-set preparation roadmap for Level III.
Dates & Deadlines
Exam windows, registration deadlines, and scheduling dates for CFA candidates.
Full coverage
CFA Level III brings together portfolio construction, asset allocation, risk management, ethics, performance evaluation, and your selected pathway. Study each module with written-answer practice in mind, not only concept recall.
Modules
6
Focus
Portfolio decisions
Includes
Pathways
Quick navigation
Suggested workflow
Asset Allocation covers capital market expectations, strategic allocation, tactical decisions, and real-world portfolio constraints.
Chapter list
Portfolio Construction links equity, fixed income, alternatives, private wealth, institutional mandates, and trading decisions.
Chapter list
Performance Measurement focuses on evaluating portfolio outcomes, selecting managers, and applying GIPS concepts.
Chapter list
Derivatives and Risk Management emphasizes option strategies, swap/forward/futures applications, and currency management.
Chapter list
Ethics at Level III tests professional judgement through constructed-response and item-set cases, including the Asset Manager Code.
Chapter list
Pathways let candidates specialize in Portfolio Management, Private Markets, or Private Wealth while keeping the core Level III foundation intact.
Chapter list
Pathway decision
Portfolio Management
Best for candidates who want continuity with Levels I and II and who expect to work in traditional asset management, research, or institutional portfolio roles.
Private Markets
Better suited for candidates interested in private equity, private debt, infrastructure, or fund structures. Expect more unfamiliar wording and niche case framing.
Private Wealth
Useful for candidates drawn toward private-client advice, IPS design, wealth transfer, tax-aware strategy, and family-level planning questions.