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Contact Us

3V Learning Centre
Obalende Office: Block 4, Unit 7,
2, Araromi Street, Off Moloney street,
Behind Access Bank, Obalende,
Lagos Island, Lagos, Nigeria.

Ikeja Office: 5, Adefolu Drive,
off Bamishile Street, off Allen Avenue,
by Best Western Ikeja Hotel, Ikeja, Lagos.


Our Opening Hours

Open Monday - Friday at Obalende & 
Monday - Sunday @ Allen Avenue, Ikeja.

08:30 - 17:30
08:30 - 17:30
08:30 - 17:30
08:30 - 17:30
08:30 - 17:30
08:00 - 18:00
08:00 - 18:00

Level III Exam Details for Candidates


Exam Structure and Timing

The Level III exam consists of item set and constructed response (essay) questions:

  • Morning session: Constructed response (essay) questions (usually between 8 and 12 questions, each with several subparts) with a maximum of 180 points. (The point value for each question is provided in the exam book.)
  • Afternoon session: 10 item set questions

Exam Question Format

When you prepare for the Level III exam, remember to review the Level II question format details for item set questions.

Constructed Response (Essay) Question Format

On the essay section of the exam, you'll see two types of essay questions:
  • One type of essay question requires that you write your answers on the lined page(s) following the question. For these questions, label each part of your answer clearly (A, B, C, or i, ii, iii, etc.)
  • The other type of essay question asks you to provide your answers in a template following the question. Instructions in bold print (immediately preceding the question) direct you to the page number of each template. Essay template placement change (PDF).

Some questions contain a mix of these two question and answer types.

Each essay question may have as few as one part or as many as 7-8 parts, so be sure to read and understand how to answer the entire question.

Your Essay Exam Book

Your exam book will contain three features to help you answer all parts of each question in the appropriate place:

  • Page one of the exam book lists all of the questions on the exam, and the topic and minutes assigned for each question
  • The page heading where a question begins states the number of parts in that question and the total number of minutes/points. For example: “Question 2 has two parts (A, B) for a total of 18 minutes”
  • Immediately before each question subpart that requires a template answer, you will find a statement with the page number of the template. For example: “Answer Question 2-B in the Template provided on page 12”

Make sure you familiarize yourself with the essay exam question formats so that you don't overlook any part of a question. Use the templates to provide your answers in an efficient manner.

 CFA® Institute does not endorse, promoteor warrant the accuracy or quality of [3V Learning Centre]. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFAInstitute.


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