CFA Level 3 essay questions的官方指引-经管之家官网！

The morning session of the Level III exam is made up of essay questions. (The afternoon session is composed entirely of item set questions, the same format that you saw on the Level II exams.)

On the essay section of the Level III exam, you'll see two types of questions:

• One requires that you write your answers on the lined page(s) following the question
• The other asks you to provide your answers in a template following the question
  

There are 10-15 essay questions and 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.

The Level III morning session has a maximum score of 180 points.

Your exam book will contain three features to help ensure 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 heading on the page where each 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 after each 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.

The Level III essay exam is given in the morning session and has a maximum score of 180 points. The essay exam typically has 10–15 questions, and questions may have multiple parts. The points for each question and each question part are given in the exam.

• Each essay question consists of one or more parts (A, B, C, etc.). Some parts direct you to write your answer in a template. Instructions in bold print immediately following the question direct you to the page number of each template. Answer all other questions 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 following are some general tips for Level III candidates on the essay exam:

• The published guideline answers on past essay exams are more complete and better written than actual exam answers that receive full credit.
• The published guideline answers may not reflect all alternative approaches to the question that received full or partial credit.
• Answers are graded only on content. They are not graded for language and style.
• Use short phrases and bullet points to save time, but be sure your meaning is clear.
• Handwriting is rarely so poor that the answer cannot be graded.
• Points are awarded for direct answers to a question.
• No points are awarded for general knowledge that is not responsive to the question.
• Do not spend too much time writing an answer. This is particularly tempting when you know the topic well. Formulate a direct response to the command words, and use the amount of time allotted.
• You should expect to encounter questions that you will not be able to answer correctly. There is a great deal of material to master and exam questions are challenging. Standard setters and the Board of Governors (at all three levels) take account of exam difficulty in setting Minimum Passing Scores. For a full description of how the MPS is established,
  

The following are common reasons that graders give for poor candidate performance on the essay portion of the Level III:

• Not responsive to command word list (list, define, etc.)
• Answered a question they wish they had been asked instead of the question that was asked.
• No work shown on a calculation question and the answer is incorrect.
• Hedged on questions that asked for a recommendation and justification (e.g., recommended A, but justified B).
• Neglected to answer part of the question (especially if a several part question). Note that you can still answer part E, even if you do not know the answer to part D.
• Content area experts spent too much time on their area of expertise, leaving too little time for weak areas.
• Providing more items or responses than requested. If a question asks for three factors, only the first three that you list will be graded.
  

「经管之家」APP：经管人学习、答疑、交友，就上经管之家！
免流量费下载资料----在经管之家app可以下载论坛上的所有资源，并且不额外收取下载高峰期的论坛币。
涵盖所有经管领域的优秀内容----覆盖经济、管理、金融投资、计量统计、数据分析、国贸、财会等专业的学习宝库，各类资料应有尽有。
来自五湖四海的经管达人----已经有上千万的经管人来到这里，你可以找到任何学科方向、有共同话题的朋友。
经管之家（原人大经济论坛），跨越高校的围墙，带你走进经管知识的新世界。
扫描下方二维码下载并注册APP