Level III Exam Overview of the Computer-based Testing (CBT) CFA is transitioning to computer-based testing instead of paper-based exams for all levels from 2021. Here is a summary of the major changes for the 2021 exams. Study Sessions & Weights There are no changes in Study Sessions’ weights relative to 2020. The CFA Institute gives weights in ranges instead of giving a specified number of questions. For example, Fixed Income has a range of 15 – 20%. This means that Fixed Income questions can be 15%, 20%, or an average of 18% of the total questions. You should expect to… Read More