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LLM Reasoning
Advanced Financial Reasoning at Scale: LLMs on CFA Level III
P. Shetty et al. · 2025
What this means for traders
Modern AI models now pass the CFA Level III exam — the same benchmark used to certify professional analysts.
Abstract
A comprehensive evaluation of state-of-the-art LLMs on the CFA Level III exam. OpenAI o4-mini achieved a score of 79.1%, and Gemini 2.5 Flash reached 77.3%, demonstrating expert-level financial reasoning capabilities.
LLMsCFAReasoningEvaluation
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