Is Schweser Enough for CFA Level 3?

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Schweser is one of the providers that you are able to use to learn CFA Level 3. However, you may wonder whether Schweser is enough for CFA level 3 or you need additional resources. Let’s read the explanation below from some online sources.

Relying on Schweser for CFA Level 3

If you wonder whether relying on Schweser only for CFA level 3 is good or not, the answer may be different for each person. If you access the 300Hours site in the forum section, there is discussion about Schweser for level 3. Here are some opinions about Schweser level 3 according to some users on that forum.

  • Christine, 17 March 2017
    She said that she agreed that conceptually the syllabus might be better. However, it was so difficult for her to read that it negated the benefits. She also said that if you are like her, it is recommended for you to go through Schweser and use the syllabus for end of chapter questions and any conceptual clarifications you may need.
  • Ifp731, 21 April 2018
    This user said that Schweser has not changed its mock exams or practice exams from the previous year which means that they were completely recycled and it was disappointing.
  • AjFinance, 17 March 2017
    This user said where it was the response to the Christine statement that it all came down to how well you knew the concepts on exam day.
  • rxd, 30 May 2018
    This user said that she/he passed level 3 and she/he used Schweser and NYSSA. She/he did not touch CFA books because she/he hated CFA books and they put her/him to sleep in 10 minutes. She/he also said that it really depended on how well you knew the material. She/he took 9 complete tests, solved 2000+ Qbank and NYSSA practice tests and she/he also read Schweser for all level 3 and found them very helpful for her/his lifestyle that involves working 70 hours a week with 2 young kids.
  • Daharmattan1, 11 March 2018
    This user agreed with Christine and this user said that he/she used Schweser with online supplements and it worked fine. He/she also said that the advantage of 3rd party notes is the condensed version and L3 is about broad connections between material and not having to wade through overly detailed readings from the original curriculum works well as a time-saver. He/she also said that as with L1 and L2, the secret is going to end up being practice problems and sample exams.

If you access the AnalystForum site, you will also be able to see others’ opinions about using Schweser notes for passing level 3 and here are some opinions on that forum.

  • Caldefredo, October 2017
    “Used Schweser for the readings and one book of mocks (3 tests). Used CFAI for EOCs, Topic Tests, and mocks. I did refer to the CFAI readings where my testing was showing that Schweser wasn’t cutting it. I only did Schweser EOCs for specific questions related to a concept or formula I wanted extra practice on. I felt my time was better spent drilling than reading, and reading CFAI would have taken too long. I did refer to parts where I needed extra help. Passed on the first attempt.”
  • SorcererMikey, October 2017
    “Never used Schweser for anything besides the practice exams (which I found decent at best). Used CFAI material followed by the Wiley 11th Hour Study Guide. And of course AnalystForum…”
  • The_Borg, October 2017
    “All 3 levels using Schweser + Blue Boxes and EOC from CFAI books.
    I am sure a lot of people on here used the CFAI books alone, but for me personally they would have been a waste of time as I barely retain anything from reading thick textbooks.”

Chitown84, October 2017
“I passed in June 2017 using 95% Schweser and 5% CFAI (filled in the blanks where I was struggling with a concept.)
I relied exclusively on CFAI EOC/Blue Boxes for practice questions- no Qbank or schweser notes concept checkers.”

As you are able to see, there are people who use Schweser mainly, but they also use other resources such as CFAI. However, in Reddit, there is a user who said that he/she had friends who passed all levels using only Schweser.

Passing and Preparing Level III CFA Exam with Schweser

As explained on the Schweser site, if you want to pass the exam level 3, you have to achieve at least the minimum passing score (MPS) set by the Board of Governors of CFA Institute after each exam. It is also explained that the all-time average CFA Level III pass rate is only 56% and 2021 pass rate has been even lower. So, you need a study plan and adhere to it. Here are the other tips about passing and preparing for the CFA level 3 exam according to the Schweser site.

It is better for you to start early to prepare for the Level III CFA exam where you can prepare six to nine months before your exam day. There are a lot of successful CFA charterholders who said that they had a study routine for the exam. To prepare for the exam, you have to study the material and also can apply what you learned to scenarios on the exam. This level of understanding and practical application needs time to develop so you have to enter a study routine early and stick to it.

For the six to nine months that you will spend studying for the level 3 CFA exam, you need to plan to devote at least 344 total hours to your level 3 preparation.

You have to engage in 80 to 100 study sessions for six to nine months. You may be able to prepare for a few hours almost every day of the week. However, if you prefer to take more frequent days off from your prep, you are able to engage in fewer study sessions than that. But note that if you only engage in 60 study sessions, you must average 6 hours per study session to meet the minimum suggestion of 344 total hours studying.

Do you want to know more tips to pass and prepare for the level 3 CFA exam according to the Schweser? You are able to access the website of Schweser directly.

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