After completing the CFA exams either Level 1, II or III, the CFA Institute Board of Governors will inform you whether you passed the exam or did not pass the exam via email on the result date. They will also give you the information about the percentage of students who pass and will provide a link to detailed information on your performance.
If you pass the exam and get the exam results, you may wonder how long your CFA exam results can be used and whether your CFA exam results will expire or not. Well, if you’re looking for the information about it, you can dive into our post since we will show it for you below. Here you go!
How Long Are Your CFA Exam Results Good For?
Your CFA exam results do not expire and you’re not required to enroll each year. That means your CFA exam results will be good and last indefinitely. With your CFA exam result, i.e. passing Level I exam, you can use your Level I exam result to register yourself for Level II exam.
You definitely can choose whether you can immediately register for the Level II Exam or take a break for a while. That’s up to you!
However, it would be better for you to download your CFA exam results to your computer, since they will only be available online until roughly one year after the exam date. After this date, you may need to request an official result by writing a letter. You can download a verification letter from the Verification Letter section in their Account Profile.
Well, the verification letter will only show ‘pass’ or ‘did not pass’ and of course, the topic area performance summary will not be available. So, make sure to save your detailed results while you still have access to them.
Need to know, the CFA Institute Board of Governors will determine the minimum passing score (MPS) for each level after each exam administration. The aim of this approach is to ensure fairness to candidates across administrations since the difficulty of each test will be taken into account when setting the MPS. In this case, CFA Institute does not release the MPS or individual candidate scores.
When Is CFA Exam Results Timeline Available?
It is known that CFA exam results will be available roughly 7 – 10 weeks after the close of an exam window, depending on exam level. Once all testing is finished and the exam window closes, CFA Institute will begin conducting a thorough analysis of exam questions/ candidate performance.
This way aims to identify the minimum passing score (MPS) which represents basic competence in the subject matter. There are around hundreds of CFA charterholders who will participate in an essay grading event for Level III grading.
Afterwards, the CFA Institute Board of Governors will convene to approve the MPS. In this case, rigorous quality control processes and data quality review steps would be completed to make sure results are presented accurately to all tested candidates.
The candidates will then receive periodic messages to keep them updated on the progress of exam results. Certainly, additional information will be posted to this page if it becomes available.
The results of individual candidates will be released only to the candidate and are never released to a third-party. However, the lists of passing candidates will be provided to societies for membership purposes.
For detailed exam scores and responses to exam questions, these are measurement information and part of a candidate’s test record, both of which will be owned solely by CFA Institute. Of course, this information will not be given to candidates.
How to Access Your CFA Exam Result?
It’s pretty straightforward to access your CFA exam results. To access the CFA exam results, you just simply go to the CFA Institute website and you will have to login with your credentials. After logging into your CFA Institute account, you can go to the ‘My Account’ section.
Then, you can navigate to the ‘CFA Program’ section. If you already have completed the CFA exam at either Level I, II or III, the results will be shown here. Of course, you will see whether you passed the CFA exam or did not pass the CFA exam.
Keep in mind, you will get a result of pass or fail along with information on your topic level performance. The candidates who pass Level III will not receive detailed results. Furthermore, they can use the CFA Institute exam performance guide to help them interpret their results report.
Afterwards, CFA Institute will notify you as your official exam results are already available. Once candidates receive their CFA exam results, they can register for the next exam. So far, the CFA Institute encourages the candidates who do not pass to use the exam result information to guide their studies and to retake the exam at a later date. Of course, they can take as much time as they need before they are registering for the next exam.
Get to Know about CFA Exam Pass Rates
Each level of CFA Exam has its own pass rates, here’s for the details:
- CFA Level I Exam Pass Rate: May 2022 CFA Level I exam pass rate: 38%
- CFA Level II Exam Pass Rate: February 2022 CFA Level II exam pass rate: 44%
- CFA Level III Exam Pass Rate: May 2022 CFA Level III exam pass rate: 49%
The pass rates of CFA exam cannot be separated from MPS (Minimum Passing Score). Of course, you should meet the minimum passing score (MPS) set individually if you want to pass your CFA exam.
Well, the MPS will vary from year to year, however, the CFA Institute’s best guess is that it may never exceed 70%. CFA Institute Board of Governors never release neither MPS nor individual candidate score information to the public.
If you did not pass the CFA exam, you shouldn’t worry, since CFA Institute will highly guide their studies for the next time. Certainly, you will have the option to gain a retabulation, but it will come with an expense and will not change your ‘didn’t pass’ to a ‘pass’.