CFA®️ Level III Mock Exams
Prepare with CFA Level III Mock Exams
Practice taking the computer-based test before exam day with the Schweser Mock Exams. These realistic exams simulate the interface, format, difficulty, and length of the actual CFA exam—helping you develop your test-taking skills, identify your weak areas, and demonstrate your mastery of the CFA Program curriculum. Afterward, view answer explanations, check your score compared to those of other candidates, and drill deeper into each question with our Mock Exam Tutorial.
2025 CFA Level III Changes
Beginning with the 2025 Level III exams, CFA Institute introduced specialized pathways. Each pathway was developed to give candidates more options to learn content directly related to their interests and career goals. The three specialized pathways are:
- Portfolio Management: This traditional CFA Program pathway focuses on constructing, managing, optimizing, and measuring portfolios of public market equity, fixed income, and derivative securities.
- Private Markets: This pathway addresses private markets investing primarily from the perspective of the general partner (GP). It builds on key valuation and other competencies in the CFA Program from all four asset class domains.
- Private Wealth: This pathway offers a global perspective on and universal principles for serving high-net-worth clients (worth US$5M+). It is structured as an arc from a young adult being onboarded to generating wealth through wealth transfer.
You can learn more about these specialized pathways here.
Choose Your Pathway:
August 2025
August 2025
August 2025
Mock Exam Details
The Online Schweser Mock Exam features:
- Two modes:
- Exam Sim: Take the exam using the actual interface you’ll encounter on the computer-based CFA exam.
- Online: Take the exam using the standard Kaplan Schweser online interface.
- CFA Institute's time limits of 4 hours 30 minutes (each exam consists of two sessions of 2 hours 15 minutes)
- CFA Institute's topic weightings and exam format
- Online answer explanations
- Online scoring and performance tracking by topic area with a comparison to other candidates
- Answer explanations that include exam topic references for every question
- Exam Tutorials that provide detailed video explanations of how to arrive at each of the answers
Mock Exam Options:
- Mock Exams 1-4: Four unique sets of questions with three attempts per exam
- Mock Exams 1-6: Six unique sets of questions with three attempts per exam
- Mock Exams 5 & 6: Two unique sets of questions with three attempts per exam
Note: The system allows three attempts per mock exam. You cannot switch exam modes after beginning an exam.
Exam Sim Details
Exam Sim allows you to take the computer-based mock exam in the interface used on exam day.
Time Limits
Exam sim uses the same time limits and built-in breaks that CFA Institute uses on the exam; however, you do not need to follow these constraints. These serve as a guideline to you in order to replicate the exam as closely as possible. When the timer hits zero, you can continue completing the mock exam without a time constraint.
Answering Functionality
Answer, skip, flag, and filter questions exactly like the actual exam. This type of practice helps improve efficiency in completing the exam under the time constraints set on exam day. You must answer all questions on the mock exam in order to complete each section. Once you complete both sections of the mock exam, view the detailed results report using our Exam Tutorial.
Watch the video below for a detailed demonstration of the new Exam Sim functionality.
Learn More About Schweser’s Online CFA® Mock Exams
Get a complete study plan when you bundle CFA Level III Mock Exams with a Schweser CFA study package.
CFA Level III Mock Exam FAQs
- February 2025 exam products: access expires on March 31, 2025
- May 2025 exam products: access expires on June 30, 2025
- August 2025 exam products: access expires on September 30, 2025
- November 2025 exam products: access expires on December 31, 2025
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