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CFA® Program Level 3

The CFA Program curriculum is focused on ten key topics which increase in complexity at each one of the three levels; ethical and professional standards, quantitative methods, economics, financial reporting and analysis, corporate finance, equity investments, fixed income, derivatives, alternative investments, portfolio management and wealth planning.

At this final level, candidates are required to incorporate everything they’ve learned in the previous levels and display effective knowledge of investment management.

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Total package (excluding exams):

£950 - £3,323 (inc. VAT where applicable)

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Spread the cost over 12 months:

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Delivery information

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Didn't pass with another provider? Get 50% off on us now

All you need to do is show us proof of your exam result, and evidence that you studied with another provider.

Structure and pathways

For 2025, CFA Level 3 will have three specialised pathways to choose from - Portfolio Management, Private Wealth, and Private Markets. Candidates can select the pathway that relates to their interests and ambitions. Each Level 3 pathway has a common core curriculum, which provides the knowledge and skills for investment management. This is supplemented by specialised content for the chosen pathway.

The Level 3 “Common Core” curriculum makes up 65-75% of the total exam topic weight, while the remaining 25-35% relates to the chosen pathway. To pass Level 3, you’ll be examined on the topics depending on your chosen pathway.

It's important to note that the CFA Charter achieved upon successful completion of the Program will be the same regardless of the pathway chosen. Therefore, candidates should select a pathway based on their individual interests and aspirations.

All assessments are computer-based exams (CBE).

Entry requirements

To register for your Level 3 exam, you need to have passed Level 2.

Pathways

You can choose one of three pathways. The study materials provided will relate to the selected Pathway.

Pathway One
Portfolio Management

Learn about constructing, managing, optimising, and measuring portfolios of public market equity, fixed income, and derivative securities.

from

£950 - £3,323

(inc.VAT)

Select package
  • Index-based equity strategies
  • Active equity investing: strategies
  • Active equity investing: portfolio construction
  • Liability driven and index based fixed income strategies
  • Fixed-income active management: yield curve strategies
  • Fixed-income active management: credit strategies
  • Case study in portfolio management: institutional
  • Trade strategy and execution
Pathway Two
Private Markets

Learn about private market investing from the perspective of the General Partner (GP). Cover all key steps in the workflow from deal-sourcing and diligence to exit, and builds on key valuation and other competencies in the CFA Program from all four asset class domains.

from

£950 - £3,323

(inc.VAT)

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  • Private Investments and Structures
  • General Partner and Investor Perspectives
  • Private Equity
  • Private Debt
  • Private Special Situations
  • Private Real Estate Investments
  • Infrastructure Investments
Pathway Three
Private Wealth

Gain a global perspective and learn the principles for serving High Net Worth clients. This pathway extends beyond simple investment management and financial planning to cover areas such as family management, philanthropy and serving star athletes.

from

£950 - £3,323

(inc.VAT)

Select package
  • The Private Wealth Management Industry
  • Working With The Wealthy
  • Wealth Planning
  • Investment Planning
  • Preserving the Wealth
  • Advising the Wealthy
  • Transferring the Wealth

Study packages

Whatever your learning style, we have a study package for you.

Do you prefer structured learning? We offer classroom, live online or a blended approach. Or do you prefer self study? Then we offer a distance learning package where you can study at your own pace.

Our flexible study packages have been designed to maximise your time, keep you on track, and help you pass your exam. Whichever study package you choose, you’ll receive high quality Schweser study materials, access to our online study portal, and continuous support right up to your exam. To see which study package is best for you, please see our infographic (PDF 128KB).

Try FREE for 7 days

Study methods available for this qualification

Features Classroom Blended Live Online Distance Learning
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Complete packages

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Classroom

Structured teaching keeps you on track and motivated with scheduled classes.

  • Classroom tuition
  • Classroom revision
  • Schweser study material
  • Pass Protection
20% off

£3,323.00

(£2,850.00 excl. VAT)

Select pathway

Tuition

  • Work your way through the curriculum with face-to-face classroom tuition
  • Tuition is spread across six days during the weekdays or weekends, or 14 evenings
  • Catch up on missed material with tuition classroom recordings.

Revision

  • In addition to face-to-face classroom revision, get exam confident with testing at every stage of your studies
  • You'll have access to thousands of practice questions to work through in the online question bank and Q&A book
  • You’ll get a MindMap book that boils down the core points of each study session into a handy revision book - ensuring you’ve covered all of the Learning Outcome Statements.
  • With Schweser's Secret Sauce®, you'll get plenty of exam tips on how to prepare and apply your knowledge on exam day.
  • You can catch up on missed material with revision classroom recordings.

Our Guarantee

The CFA exams can be tough, but if you don’t pass, everything’s not lost. With Kaplan's Pass Protection (PDF 60KB) you can attend our revision course for free until you pass your exam, and you may be eligible to receive the same material package for the next exam sitting for free. T&C’s apply.

Optional Extras

All your essential study materials are included in the package. However, you have the option to purchase the Texas BAII+ Professional Calculator.

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Blended

Structured teaching keeps you on track and motivated with scheduled classes.

  • Live online tuition
  • Classroom revision
  • Schweser study material
  • Pass Protection
20% off

£2,771.00

(£2,390.00 excl. VAT)

Select pathway

Tuition

  • Work your way through the curriculum with live online tuition
  • Tuition is spread across 14 evenings
  • You can catch up on missed material with tuition classroom recordings.

Revision

  • In addition to face-to-face classroom revision, get exam confident with testing at every stage of your studies.
  • You'll have access to thousands of practice questions to work through in the online question bank and Q&A book
  • You’ll get a MindMap book that boils down the core points of each study session into a handy revision book - ensuring you’ve covered all of the Learning Outcome Statements.
  • With Schweser's Secret Sauce®, you'll get lots of exam tips on how to prepare and apply your knowledge on exam day.
  • You can catch up on missed material with revision classroom recordings.

Our Guarantee

The CFA exams can be tough, but if you don’t pass, everything’s not lost. With Kaplan's Pass Protection (PDF 60KB) you can attend our revision course for free until you pass your exam, and you may be eligible to receive the same material package for the next exam sitting for free. T&C’s apply.

Optional Extras

All your essential study materials are included in the package. However, you have the option to purchase the Texas BAII+ Professional Calculator.

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Live Online

Structured teaching keeps you on track and motivated with scheduled classes.

  • Live online tuition
  • Live online revision
  • Schweser study material
  • Pass Protection

£2,219.00

(£1,930.00 excl. VAT)

Select pathway

Tuition

  • Work your way through the curriculum with live online tuition.
  • Tuition is spread across 14 evenings
  • You can catch up on missed material with tuition classroom recordings.

Revision

  • In addition to live online revision, get exam confident with testing at every stage of your studies.
  • You'll have access to thousands of practice questions to work through in the online question bank and Q&A book
  • You’ll get a MindMap book that boils down the core points of each study session into a handy revision book - ensuring you’ve covered all of the Learning Outcome Statements.
  • With Schweser's Secret Sauce®, you'll get lots of exam tips on how to prepare and apply your knowledge on exam day.
  • You can catch up on missed material with revision classroom recordings.

Our Guarantee

The CFA exams can be tough, but if you don’t pass, everything’s not lost. With Kaplan's Pass Protection (PDF 60KB) you can attend our revision course for free until you pass your exam, and you may be eligible to receive the same material package for the next exam sitting for free. T&C’s apply.

Optional Extras

All your essential study materials are included in the package. However, you have the option to purchase the Texas BAII+ Professional Calculator.

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laptop

Distance Learning

Self study at your own pace and when it's convenient with OnDemand videos.

  • OnDemand tuition
  • OnDemand revision
  • Schweser study material
  • Pass Protection

£950.00

(VAT not applicable)

Select pathway

Tuition

  • 50 hours of OnDemand Tuition classes led by an expert tutor
  • Five live online workshops focused on exam application and problem solving

Revision

  • 30 hours of OnDemand Revision classes, lead by an expert tutor.
  • With Schweser's Secret Sauce®, you'll get lots of exam tips on how to prepare and apply your knowledge on exam day.
  • You’ll get Mind Maps and Schweser Review Workshop Questions

Our Guarantee

The CFA exams can be tough, but if you don’t pass, everything’s not lost. With Kaplan's Pass Protection (PDF 60KB) you may be eligible to receive the same material package for the next exam sitting for free.

Optional Extras

All your essential study materials are included in the package. However, you have the option to purchase the Texas BAII+ Professional Calculator.

Revision only courses

As an alternative to the complete packages, you can choose an individual revision course without the supporting Kaplan Schweser study materials.

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Classroom Revision only

Classroom revision without the Kaplan Schweser study materials.

£1,482.00

(£1,235.00 excl. VAT)

Select pathway
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Live Online Revision only

Live Online revision without the Kaplan Schweser study materials.

£930.00

(£775.00 excl. VAT)

Select pathway

Timetables - Classroom and Live Online

Classroom tuition courses take place over six days (from 9-5pm) or 14 evenings (from 6-9pm). Classroom revision courses take place over five days (from 9-5pm) or 10 evenings (from 6-9pm).

date_range View timetables

location_on Classroom location

We have classes in London:

London Bridge training centre: 179-191 Borough High Street, London Bridge, London, SE1 1HR

For further information on mainland European classes, see our partner website Top Finance.

Optional extras

We offer a number of optional extras that can be beneficial as part of your studies:

Optional

Schweser Mock Exam

The Online Schweser Mock Exam is as close as you can get to the actual exam in format, difficulty, and length. With our new simulation, it will help to develop your test-taking, identify your weak areas as well as giving you a real exam experience. After the simulation, you can view answer explanations and check your score compared to those of other candidates.

from £75.00 per exam

(VAT not applicable)

Learn more
Optional

Texas BAII+ Professional Calculator

One of the recommended CFA Calculators, as well as the calculator that will be referenced in classes.

£81.00 Including UK delivery

(£67.50 excl. VAT)

Inhouse training

Our public classroom courses run in central London. Like many of our courses, we can also offer these courses inhouse for your team or organisation. Please contact us on 020 7920 3060 or email us at citybookings@kaplan.co.uk to find out more about how we can help train your team.

Exams, sittings and resits

Exams

The exams are computer based testing and run two to four times a year. For more information on the frequency of sittings please refer to CFA Institute®.

Please be aware, it's your responsibility to register with the CFA Institute® for exam entry with the cost of the exam depending on the date of registration. There is also a one-time program enrollment fee when you register for the CFA Level I exam for the first time.

Exam results are available within 90 days of the exam date. All candidates receive a “pass” or “did not pass” result as well as details as to performance per topic.

You’ll need to pass Level 2 of the CFA Program before registering for Level 3. The CFA institute allow you a total of six attempts per exam level.

Syllabus weighting

Level 3 topic Approximate exam weight
Ethical and Professional Standards 10-15%
Derivatives and Risk Management 10-15%
Portfolio Construction 15-20%
Asset Allocation 15-20%
Performance Measurement 5-10%

Choice of Pathway:
Portfolio Management
Private Markets
Private Wealth

 30-35%
Total 100%

How long does it take to pass?

The examining body recommends around 300 hours of study for each level in the CFA charter, although some candidates will need more or less time, depending on their individual backgrounds and experience.

It is possible to complete the CFA Program in two years but with a recommended study time of 300 hours per level, it takes most people three to four years to complete the three three levels.

What are pass rates like?

The CFA Institute reports that the average pass rate over the last 10 years is 54% for Level 3. As a training provider, unfortunately we are not able to report our own pass rates in accordance with CFA Institute guidelines.

What CFA resits are available?

We do everything we can to help you pass your CFA exam first time. However, should you need a second chance, then don’t worry. With Pass Protection, there are lots of ways we can support you as you prepare for your exam resit. For further information, please refer to our pass protection policy (PDF 60KB).

CFA Resit Enrolment Form (PDF)

Can Kaplan help if I fail an exam but studied with another provider?

If you have failed elsewhere with another prep provider, we'd like to help save you some money. We're pleased to be able to offer you 50% off our study packages. You'll just need to send us an invoice from your previous prep provider.

More information about our 50% off study packages

Study Materials and Delivery Costs

We offer a comprehensive range of study materials to enhance your learning experience. They’ve been designed to keep you on track and stay motivated on your learning journey. These include hard copy books as well as online resources on Schweser’s study portal.

Core materials included with all packages

  • Getting Started Guide

    Explains how to use the resources effectively to maximise your chance of passing the exam.

  • Schweser Online Study Portal

    Includes dashboard with activity feed and performance metrics to keep you on track and motivated.

  • Schweser Online Mock Exam 1 – 6

    Practice taking the computer-based test before exam day with the online Schweser mock exam. This realistic exam simulates the interface, format, difficulty, and length of the actual CFA exam.

  • SchweserNotes™

    Clear, concise study notes and examples that cover every learning outcome statement (downloadable as eBooks as well as in print). These notes also include module quizzes and topic assessments which can demonstrate your level of mastery of a topic and where you need to focus additional attention.

  • Quicksheet

    A compact study tool summarising key formulae, definitions and concepts (available online, downloadable as an eBook as well as in print).

  • Schweser Module videos

    Reference videos to supplement the Schweser Study Notes. For every learning outcome statement there is a short video where a tutor guides a student through the content and explains how to solve the examples.

  • SchweserPro™ QBank

    Thousands of unique online practice questions designed to assess and adapt to your understanding of the curriculum.

  • Schweser Checkpoint Exams

    Three key tests that you will be prompted to work through online during your studies. These mimic the difficulty and format of the actual exam. Performance reports then highlight your understanding and weak areas where more review is needed.

  • Schweser's Secret Sauce®

    Take this compact book anywhere you go, printed or eBook, for a concise review of the CFA Program curriculum. Secret Sauce provides insights and exam tips on how to effectively prepare and apply your knowledge on exam day.

  • Kaplan Schweser Community

    An exclusive online study forum where you can post questions and engage in discussions with CFA experts and your fellow candidates. With more than 15,000 users, we’ve already become the most used online forum hosted by an exam prep provider for advanced financial designations.

  • Schweser CFA Institute Question Review Videos

    Videos walk you through the end-of-reading questions from the CFA Institute Program curriculum. You’ll get expert advice and strategies from CFA instructors as they guide you through the questions.

Additional materials come with the following packages

  • Tuition classroom recordings
  • Revision classroom recordings
  • Tuition course slides
  • Mindmaps and Q&A book
  • OnDemand Tuition with Workbooks
  • OnDemand Revision with Workbooks

Study Material availability

Schweser releases study materials on a piecemeal basis as soon as they are available, normally at least six months ahead of relevant exam windows. You may receive more than one release/delivery of eBooks/hard copy materials. Release dates can be subject to change depending on the size of the new curriculum changes.

Delivery costs

Materials are delivered to the address you provide us (and must be signed for on delivery). For detailed information on delivery prices please refer to our delivery page.

Kaplan Schweser online study portal

Kaplan Schweser Online portal screenshots

Kaplan Schweser’s online portal provides access to a wide variety of resources to help you prepare for your exams. It also hosts all our Live Online tuition and revision classes.

Online features

Depending on the study package you choose, features can include the following:

  • View your online materials in one place and access your content in a few clicks
  • Take the guesswork out of your study plan with strategically placed weekly tasks
  • Track your performance against that of other candidates
  • Complete tests and get instant feedback
  • Access on mobile, tablet and computer

For more information on technical support available and minimum system requirements for Kaplan Schweser’s online portal, visit the Schweser portal technical support.

Access duration

You can access your content from 48 working hours of purchase (subject to availability) until your examination date.

Try FREE for 7 days

Tutor support

We'll support you every step of the way throughout your CFA learning experience with us. Our tutors are available for any questions or worries you might have.

  • Email academic support

    Open weekdays 9.00am - 5.30pm excluding bank holidays.

  • Kaplan Schweser Community

    An exclusive online study forum where you can post questions and engage in discussions with CFA experts.

Testing and mocks

Vital to passing your exam will be attempting as many questions and mocks as possible. Depending on your chosen package, you will gain:

  • SchweserPro™ QBank

    Access to thousands of unique questions in the SchweserPro™ QBank. Adaptive and personalised technology has taken our world-renowned QBank study tool to the next level. Question difficulty adapts to a student's ability on a given topic, measuring their knowledge and keeping them motivated as they move through the content.

  • Checkpoint exams

    Three key tests that you will be prompted to work through online during your studies. These mimic the difficulty and format of the actual exam. Performance reports then highlight your understanding and weak areas where more review is needed.

  • Schweser Online Mock Exam (1 – 6)

    Four practice taking the computer-based test before exam day with the online Schweser mock exam. This realistic exam simulates the interface, format, difficulty, and length of the actual CFA exam.

Study package comparison (PDF)

Course pricing and funding options

Pricing structure

Below are our study package prices. The only additional costs will be delivery and if you decide to purchase any optional extras.

Package Full Price (excl. VAT) Full Price (incl. VAT)
Classroom £2,850 £3,323
Blended £2,390 £2,771
Live Online £1,930 £2,219
Distance Learning £950 (VAT not applicable)
Classroom Revision Only £1,235 £1,482
Live Online Revision only £775 £930

Study package comparison (PDF)

*Save 20% on 2024 Classroom and Blended study packages if you book online by 7th June 2023. Your saving will be applied automatically upon checkout.

Funding options

Invoice your employer

Your employer may fund the costs of your studies if you’re already working in a related field and want to develop your learning. You’ll need to speak to them to see if you’re eligible and confirm that they’re happy to pay for your studies.

Learn more about invoice your employer

Payment plans

Our CFA packages are covered with our interest-free payment plan, providing the total cost is £500 minimum (including VAT). The plan lets you spread the cost of your studies over a period of up to 12 months, with no extra costs.

Learn more about payment plans

How to enrol

The quickest way to enrol is to select your course online. You can also call us on 020 7920 3060 or enrol with a form which you can download, fill out your details and email to citybookings@kaplan.co.uk.

Download enrolment form (PDF)

Why study CFA Level 3 with Kaplan?

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Over 30 years of experience

We have over 30 years of teaching experience with the largest global network of tutors who are CFA® Charterholders and know the syllabus inside out.

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Flexible study options

Our study tools are flexible enough to fit around your lifestyle. From online to classroom, we give you all the support and materials you need to succeed.

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Pass protection assurance

We know the exams are tough but we’re here to help you every step of the way. Should you need a second chance we’ll put you back on track with our pass protection.

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1000s of practice questions

Get exam confident with testing at every stage of your studies, including 1000s of unique practice questions and mock exams that will help you feel prepared for the real exam.

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92% Recommendation Rate: These are the findings of a quantitative survey conducted by Kaplan between September 29 and November 4, 2022. For this survey, a sample of 838 CFA Level I, II, and IIII students was interviewed online, of which 463 prepared for a CFA exam with Kaplan Schweser.

*CFA Institute does not endorse, promote, or warrant the accuracy or quality of the products or services offered by Kaplan Financial. CFA Institute, CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.