Given the difficulty of the CFA Program exam, it makes sense that candidates would want to find out as quickly as possible if they had made it. We will discuss the CFA Level 1 results, the minimum passing score (MPS), when and how you will receive your CFA exam results, and more.
Take advantage of our free CFA Level 1 practice questions as well if you want to ace your test the first time.
When can I expect CFA Level 1 exam results?
Knowing the CFA Level 1 results date may make it easier for candidates to relax after the test because they won’t have to think about it as much.
The results for the CFA Level I and II computer-based (CBT) exams are available within 60 days after the exam date, while the CFA Level III exam results are available within 90 days.
The results of the exam are available for about a year following the test date. After this date, candidates can create and download a verification letter from their Account Profile’s Verification Letter section to prove their status with the CFA Program. A “pass” or “fail” exam result will be confirmed in the verification letter, but the topic area performance report will not be published.
Individual candidate results, as well as related candidates, are submitted to societies for the purpose of membership.
The CFA Institute is the sole owner of detailed exam scores and responses to exam questions, both of which are measurement information and part of a candidate’s test record. Candidates are not provided with this information.
On the result date, Level I CFA candidates receive an email with a “pass” or “did not pass” message. The email will provide a link to full information on your performance as well as the percentage of students who passed. You may also check your results on the CFA Institute’s website if you can’t wait for the email.
CFA exam results
Level I/Level II exam results are expected to be available 8-10 weeks after the exam window closes, and Level III exam results are expected to be available in around 10 weeks. After all of the testing is completed and the exam window has closed, CFA Institute begins a detailed review of exam questions and candidate performance in order to determine the minimum passing score (MPS) that demonstrates fundamental subject matter competency.
Hundreds of CFA charterholders will participate in an essay grading event for Level III grading. The MPS will then be approved by the Board of Governors. To guarantee that results are presented properly to all tested candidates, rigorous quality control methods and data quality review activities are undertaken. Candidates will get frequent notifications to keep them informed about the status of their exam results, and when new information becomes available, it will be posted on this website.
CFA exam minimum passing score
The CFA Institute Board of Governors sets the minimum passing score (MPS) for each level after each exam administration. The goal of this approach is to guarantee that candidates are treated equally throughout administrations, as the difficulty of each exam is considered when determining the MPS. The MPS or individual candidate scores are not made public by the CFA Institute.
To pass the CFA exam, you must get a minimum passing score (MPS) for each completed exam. The MPS may fluctuate from year to year, but it is unlikely to exceed 70%. The MPS, as well as individual candidate scores, are never made public.
As a result, you’ll never know how many points you earned or what percentage level you achieved. All you have to say is:
- If you PASSed, you either met the MPS or were close enough for the ethics adjustment to pull you through.
- if you FAILED, you either below the MPS or the ethics adjustment worked to your disadvantage.
Read more >> How Hard Is CFA Level 1?
What to do if you fail your CFA Level 1 exam?
It’s time to start thinking about your future try if you failed the CFA exam. Don’t be too hard on yourself; failure isn’t permanent, and many successful CFA charterholders fail on their first try.
As part of your score reporting, CFA Institute gives crucial diagnostics to assist you in making decisions about your next steps. For example, in addition to your findings in relation to the MPS, you are given a True Ability confidence interval around your score. Given positive and unfavorable conditions, True Ability provides your anticipated range of scores.
Exam sampling from learning outcomes you were familiar with, fortunate guessing, a comfortable testing environment, and being well-fed and well-rested for the exam are all possible factors that may have enhanced your real score results. It’s possible that unfavorable factors for these things lowered your score.
Candidates who score significantly over the MPS may be confident that they will pass regardless of the questions given or other non-exam circumstances. Candidates who score poorly on the MPS may need to explore more study time or remedial options. Candidates who score slightly below the MPS but have a true ability interval that crosses the MPS line are likely to pass the exam with a little extra study or the help of a favorable situation.
Analyze your exam results before creating a study plan for retaking the exam. Concentrate on high-weighted topic areas, study for at least 300 hours every test, and strive for a 70% or higher on practice exams. If you study using a CFA review course that allows you unlimited access until you pass, it can also help you relax.
What to do if you pass your CFA Level 1 exam?
It’s time to start preparing for Level 2 of the CFA exam if you passed Level 1 (huge congratulations!). According to candidate surveys, each level of the exam requires up to 300 hours of study time, so either starts planning now or seek the aid of a CFA refresher course and get started right now. Otherwise, you can look for other CFA Level 1 jobs to get a higher income.
Prepare for CFA Level 2 exam
Determine how long it will take you to finish your 300 hours (minimum) of studying for Level 2 of the CFA exam. You may register for the exam and begin studying right immediately if you keep that schedule in mind.
Prepare for CFA Level 3 exam
It’s time to establish a study schedule, register for the exam, and begin studying, just like you did for Level 2 of the CFA exam—you’re almost there!
CFA historical pass rates
CFA pass rates have historically been about 45% (40 % for Level 1, 45% for Level 2, and 53% for Level 3). However, in August 2022, pass rates for Level 1, 2, and 3 were 26%, 29%, and 39%, respectively.
The current low pass rates are assumed to be the result of COVID-19-related testing schedule interruptions and candidate study periods that span postponed tests. Candidates who do not show up on exam day are not included in the pass rate, therefore low scores were not due to an increase in the number of candidates who did not show up for a scheduled exam. Regardless, the CFA Institute is dedicated to maintaining consistent grading criteria, and pass rates are likely to improve.
FAQs – CFA Level 1 results
How long does it take to get CFA results?
The results of the CFA Level I and II exams are available 60 days after the exam date, while the CFA Level III exam results are available 90 days after the exam day.
Do results expire?
No. Your CFA exam results do not expire. Your access to your particular information, on the other hand, does.
Are CFA results public?
No, the CFA does not publish individual candidate MPS or scores. However, one year after the exam, the results are available online.
How do we know that we have cleared the CFA level 1?
The CFA Institute will provide you with the minimum passing score as well as your individual score, which will assist you to assess whether or not you passed Level 1.
Will the results be declared instantly after the exam finishes?
No, this is not going to happen. Candidates should expect results in fewer than 60 days, although not immediately.
What is CFA Level 1 passing score?
The CFA Institute’s Minimum Passing Score (MPS) will never be greater than 70%. This implies that the highest score bracket for passing a topic is 70%-100%, but you don’t have to reach it in every topic to pass if you can make up for losses in another.
Does CFA tell you your score?
When your official exam results are available, CFA Institute will inform you. Candidates can register for the next exam after receiving their CFA exam results. Candidates who do not pass the test are encouraged to utilize the exam result information to guide their study and retake the exam at a later time.
How many times can you fail CFA Level 1?
Candidates will be allowed a maximum of six attempts per exam level. Beginning with the 2022 exams, this policy will be implemented.
How many times can you retake the CFA?
Candidates for the CFA can take each exam level a maximum of six times, according to a guideline implemented in 2022. Beginning with the 2022 exams, candidates will be able to take an exam up to two times each calendar year, but not consecutive or ≤ 6 months apart.
What if I failed CFA Level 1?
If you don’t pass the CFA Test, go over the exam results and performance report that were delivered with your score. Applicants should reconsider their study plan and think about signing up for a CFA prep course. You’ll need a strategic test-taking approach that takes into account the exam’s format in addition to a comprehensive study plan.
You’ll want to know your CFA Level I results after months of preparing so you may choose whether to retake the exam or get ready for Level II. You may get all the information you require about the CFA Level 1 results in this page.
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