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Level III Curriculum Changes

We recommend you study the curriculum you receive when you register for an exam. Exam questions are based solely on the current curriculum year readings.

What's Different from the Level III 2020 Readings?

New Readings

  • Topics in Private Wealth Management (L3V4R22)*
  • Case Study in Risk Management: Institutional (L3V5R30)

Dropped Readings

  • The Behavioral Finance Perspective
  • Taxes and Private Wealth Management in a Global Context *replaced by Topics in Private Wealth Management reading*
  • Estate Planning in a Global Context *replaced by Topics in Private Wealth Management reading*
  • Concentrated Single-Asset Positions *replaced by Topics in Private Wealth Management reading*
  • Professionalism in the Investment Industry
Revisions

The Level III readings listed below are those where there were either LOS changes or significant content changes.

  • The Behavioral Biases of Individuals (L3V1R1)
  • Overview of Fixed-Income Portfolio Management (L3V2R11)
  • Liability-Driven and Index-Based Strategies (L3V2R12)
  • Yield Curve Strategies (L3V3R13)
  • Fixed-Income Active Management: Credit Strategies (L3V3R14)
  • Active Equity Investing: Portfolio Construction (L3V3R18)
  • Case Study in Portfolio Management: Institutional (L3V5R28)
  • Investment Manager Selection (L3V5R27)
  • Application of the Code and Standards: Level III (L3V6R33)
  • Overview of the Global Investment Performance Standards (L3V6R35)

End-of-Reading Practice Problems

End-of-reading questions were added to the following Level III readings:

  • Options Strategies (L3V2R8)
  • Swaps, Forwards, and Futures Strategies (L3V2R9)
  • Active Equity Investment: Strategies (L3V3R17)
  • Hedge Fund Strategies (L3V4R19)
  • Topics in Private Wealth Management (L3V5R22)
  • Trade Strategy and Execution (L3V5R25)
  • Investment Manager Selection (L3V5R27)
  • Case Study in Portfolio Management: Institutional (L3V5R28)
  • Case Study in Risk Management: Private Wealth (L3V5R29)

See all readings and exam topics in the the Level III Study Sessions