Although the pass rates for Level III are higher than for Level II, a lot of people believe that Level III is the hardest, probably because of the essay section. So how do you prepare for that?
The first thing to recognize is that, despite the name, you’re not expected to write an essay. All it means is that the answers are free-form as opposed to multiple-choice. CFA Institute provides invaluable resources to prepare for this new unfamiliar answer-format, including corrected exams from previous years.
Today, I am going to focus on how to best use those resources to your advantage.