If you have multiple LOD groups prepared with Max’s Level of Detail utility, the best resource I've found for easy export is this excellent macroscript by Anders K. Nielsen:
“Mass Export FBX to UE4.mcr” http://www.mcgreed.dk/maxscripts.html
The process is simple and though the script has several important options, here are the basic steps:
1. Set a file path where the FBX exported content will go.
2. Select all the entities in your max scene that you want to export then press “Get fileset” on the script.
3. Make sure and uncheck the option to move parents to world zero unless you're exporting props or other entities that will be animated or placed within Unreal.
When you press “export” the standard FBX export dialog will appear for you to choose your settings and options. This will only happen once upon initial export. Of course you need to choose the “Animation” option for objects with LOD’s.
I have exported dozens of LOD groups out of a single Max scene with this script. A real time saver.
I have created a simple maxscript (.ms) version without the macro headers so you can run it directly without the macro setup in max. You'll find it over in the Tools section of the website as well as a link below.
Anders has several other maxscripts at his site worth exploring. Thanks!!