The 2027 CFA Program Curriculum Level III Private Markets Pathway Box Set contains the content you need to perform well on the Level III CFA exam in 2027.
Designed for candidates to use for exam preparation and professional reference purposes, this set includes the full official curriculum for Level III and is part of the larger CFA Candidate Body of Knowledge (CBOK).
Developed to prepare you for the Level III exam's heavy reliance on information synthesis and solution application within the core curriculum as well as the portfolio management, private markets and private wealth pathways, the Level III curriculum will help you master both calculation-based and word-based problems.
| Core Structural Concept |
Advanced Wealth Management Principle |
Academic Target & Application |
| Private Wealth Frameworks |
Focuses on the complex architecture of private wealth management, including custom IPS (Investment Policy Statement) formulation for complex, high-net-worth individual profiles. |
Students: Develops advanced personal finance modeling capabilities and specialized client advisory techniques. |
| Tax-Efficient Investing |
Analyzes deep structural multi-jurisdictional tax parameters, global asset location strategies, and tax-loss harvesting execution layers to maximize after-tax returns. |
Teachers: Provides empirical case framework scripts to integrate complex global taxation rules into quantitative finance labs. |
| Estate & Legacy Planning |
Examines the transfer of wealth across multiple generations, exploring complex trust entities, charitable gifting mechanisms, and core foundations. |
Students: Builds fundamental competencies in legal wealth shielding, generational asset preservation, and estate mechanics. |
| Behavioral Finance Dynamics |
Deploys real-world behavioral finance models to identify emotional biases and cognitive errors unique to individual private investors. |
Teachers: Supplies case files that contrast standard economic logic against human psychological market reactions in portfolio design. |
| Curriculum Standards Compliance |
Fully aligns training modules with the 2027 CFA Institute Global Body of Knowledge, guaranteeing up-to-the-minute structural relevance for industry entry. |
Administrators: Streamlines business school accreditation reviews and keeps finance master's program requirements cutting-edge. |
| Concentrated Asset Strategies |
Evaluates monetization, hedging, and diversification methodologies for managing oversized concentrated positions in private businesses or single equity blocks. |
Students: Equips learners with essential corporate risk management tools for high-stakes capital structuring scenarios. |
| Risk Management Loops |
Details sophisticated personal risk management modeling, leveraging life insurance, annuities, and customized derivatives structures to preserve private capital. |
Teachers: Delivers technical math structures to model family wealth survival probabilities across volatile market cycles. |
| Ethical & Professional Codes |
Enforces the strict application of the CFA Institute Code of Ethics and Standards of Professional Conduct across private individual advisor relationships. |
Administrators: Embeds rigorous, uncompromised professional ethics frameworks directly into the institution's core business curriculum paths. |
