CFA Level III Offline

SET STANDARD INTERNATIONAL APPLIED TECHNOLOGY

About this app

CFA Level III Offline - built for the exam that is half written.

Level III is not a multiple-choice test with longer question stems. Half of your score
comes from constructed response: you state a recommendation, justify it against the
client's constraints, and produce the number the command word asks for. This app is
built around that reality.

WHAT YOU GET

1,215 exam-style questions
Every item comes from a defined question type, with a computed answer and distractors
that reproduce the mistakes candidates actually make - omitting inflation from a
building-block return, dividing by beta when the Sharpe ratio was asked for, using the
benchmark weight where the portfolio weight belongs. Each question ships with a worked
explanation.

Full-length mock exams
Two sessions of 132 minutes, structured to the official format: 11 item sets and 11
essay sets across the paper, 12 points per set, mixed 6+5 or 5+6 per session. The timer
keeps running when you leave the app, answers are saved locally, and a closed app
resumes exactly where it stopped.

Essay practice with a scoring guide
Each constructed-response question is broken into independently checkable scoring points
that sum to 12. You write your answer, then assess it point by point against the model
answer. Structural checks flag the mechanical losses: too few points for the command
word, no number where a calculation was required, prose where the marking scheme wanted
a figure.

Browse any question
Filter the whole bank by topic, outcome, difficulty or text. Open any item and answer it
on its own, then step forward or back through the filtered list.

Progress that reflects the weighting
Mastery is weighted by the official topic bands and reported as a range - a conservative
figure using the lower bound of each band, an optimistic figure using the upper bound.
It is shown as a band on purpose: one readiness percentage invites false confidence.

TRULY OFFLINE

The app does not request the Android INTERNET permission. It cannot open a socket, so no
analytics library, crash reporter or advertising SDK can phone home even if one were
bundled. There is no account, no sign-in and no sync. Everything you do stays in a local
database on your device.

EXAM STRUCTURE, VERIFIED

The format follows the current Level III structure: four hours twenty-four minutes of
testing across two sessions, 22 question sets of 12 points each, of which 20 are scored
and 2 are unscored trial sets. The 2025 restructure is reflected: Economics, Equity,
Fixed Income and Alternatives are no longer standalone Level III topics - their content
sits inside Asset Allocation, Portfolio Construction and the selected pathway.

CURRENT COVERAGE

- Asset Allocation
- Portfolio Construction
- Performance Measurement
- Derivatives and Risk Management
- Ethical and Professional Standards
- Portfolio Management pathway

DISCLAIMER

CFA Institute does not endorse, promote or warrant this application. CFA is a trademark
owned by CFA Institute. All questions, explanations and study notes in this app are
original material written for it; no CFA Institute question, mock exam or curriculum
passage is reproduced.

Built for candidates who would rather practise the exam than read about it.

What’s new

- 1,215 exam-style questions across the five core topics and the Portfolio Management pathway
- Full-length mocks: 2 x 132 minutes, 11 item sets + 11 essay sets per paper
- Essay practice with point-by-point scoring guides and model answers
- Browse or drill any single question by topic, outcome or difficulty
- Fully offline: the app requests no network permission
- Dark interface built for long study sessions