Can I take step 3 before applying for a residency and would it better my chances of matching? I am a IMG that graduated 4 years ago with a couple of failures under my belt. I've passed step 1, step 2CK and CS. I have some extra time on my hands and would like to start studying for step 3 if it is possible. Thank you

http://www.fsmb.org/usmle_apply.html

Confirm that you meet the Step 3 requirements:

Obtain an MD, DO or equivalent degree. (For recent graduates, apply only after the date of graduation on your diploma.)
Pass both USMLE Steps 1, Step 2CK and Step 2CS.
The USMLE program limits all individuals to three attempts per Step within a 12 month period.
Your 4th and subsequent attempts must be at least 12 months after your first attempt and at least six months after your most recent attempt at that exam.
If a graduate of foreign medical schools, must obtain certification by the ECFMG or successfully complete a Fifth Pathway program. (Apply only after the issue date on your ECFMG or Fifth Pathway certificate.)
Meet the requirements for taking Step 3 imposed by the individual licensing authority for which you are applying.
Register for Step 3:

Identify a State Board: Consult the state-specific requirement chart and indicate which state you will be sitting for.
Create an account and submit your application with proper payment: Your application fee must be paid by Visa, MasterCard or ACH transaction.
Provide an email address: This is the primary means for us to communicate with you regarding your application and will be used to notify you of your application status. Please provide an email address that will accept an email from [email protected].
Print and mail in the required forms e.g., Certification of Identity form.
The USMLE Step 3 fee is non-refundable and non-transferable from one eligibility period to another or from one application to another. Your application fee must be paid by Visa , MasterCard or ACH transaction. With the exception of the following boards IA, SD and VT, the fee for the 2013 Step 3 is $780.
The eligibility period for Step 3 begins upon approval of your application.

At the end of your Step 3 online application registration you will be asked if you would like to create an FCVS profile using your Step 3 information. This is optional. If you are applying for licensure with a board that is an accepting or requiring board of a FCVS profile, it may be beneficial to you to create yours now. Learn more about FCVS.