A CFA Level 3 Notes course is an online course that allows you to take the notes in the comfort of your own home. It is not an official CFA Level 3 Exam. You can take the notes with your computer, tablet, or phone. It is similar to a flashcard program. The CFA Level 3 Exam is a test administered by the CFA Institute. You must pass the exam before you can become a CFA Level 3 Candidate.