Approximately 50-60% of candidates fail the CFA Level 1 exam, with recent pass rates typically ranging between 40% and 45%. Recent data from 2024 and 2025 indicates pass rates of 43-45%, meaning more than half of all test-takers do not pass on their first attempt. First-time candidates have a slightly higher success rate (approx. 52%).
You're not alone, and this definitely isn't the end of your CFA journey. In fact, many candidates don't pass on their first try. According to historical data, the CFA Level 1 pass rate has hovered around 40%, meaning more than half of all test-takers have faced this exact same disappointment.
First-time candidates achieved a pass rate of 49 percent. Candidates testing after at least one deferral had a pass rate of 29 percent. Our data consistently shows that staying on schedule is one of the strongest predictors of exam success.” Successful Level I candidates may now progress to Level II of the CFA Program.
The CFA Level 1 passing score is not fixed every year, but it usually stays between 65% and 70%. CFA Institute does not publish an official cut-off, but this range is considered the minimum benchmark to pass.
CFA Level 1 is widely considered a very difficult exam due to its broad curriculum, demanding study commitment (often 300+ hours), challenging technical content, and typical ~40% pass rates, requiring strong discipline to learn and recall foundational finance concepts, though it's often seen as the most manageable of the three levels because it focuses on learning and describing rather than deep analysis. Success hinges on consistent study, mastering core topics like Ethics, FSA, and Investments, and effective exam technique, making it a significant hurdle for many.
If you are currently a candidate in the CFA Program:
Include your participation in the CFA Program in the education section of your resume. (For example: “CFA® Program participant, CFA Institute.”) You may also list the levels completed. (For example: “Completed Level I in 2020.”)
Is CFA tougher than CA? A: The CFA and CA (Chartered Accountant) qualifications have different focuses and challenges. While both are demanding, many find CA to be more rigorous due to its extensive practical training and exams.
3 months can be enough if you're disciplined and can actually put in 20–30 hrs a week. With a math/stats background you'll likely move faster through Quant and FI, so the key is drilling CFAI QBank, EOCs, and mocks once you cover the readings.
Apparently only 8 in a 1000 students pass all of CIMA exams in the first try? Archived post.
The Chartered Financial Analyst credential is one of the most demanding exams on Earth when it comes to preparation and study time required. The average pass rate for the CFA Level 1 is only 43%. For Level 2, you're looking at a passage rate of 44%. And Level 3 is not much easier at 50%.
In-Depth Breakdown of the Most Difficult CFA Level 1 Topics & How to Tackle Them
Here are the hardest CFA Level 1 topics to watch out for:
Lots of you might have heard that 'GCSE mocks are harder than the real thing. ' But in reality, the answer is no! Mock tests are based on past papers from your relevant exam board and are set by your school teachers.
CFA Exams Pass Rates
The CFA exams are perhaps the most challenging exams out there. They are often referred to as “bar none” the toughest exams—even harder than medical school or law school exams—with pass rates that hover around 50% and were much lower during the recent pandemic.
CFA Level 1 is widely considered a very difficult exam due to its broad curriculum, demanding study commitment (often 300+ hours), challenging technical content, and typical ~40% pass rates, requiring strong discipline to learn and recall foundational finance concepts, though it's often seen as the most manageable of the three levels because it focuses on learning and describing rather than deep analysis. Success hinges on consistent study, mastering core topics like Ethics, FSA, and Investments, and effective exam technique, making it a significant hurdle for many.
To sit your next level 1 exam, you need to obey the rule of 6 months between the exams. It means that at least 6 months need to pass between the exam you failed and your new exam window. Of course, you can retake your CFA exam at a later date, say in a year.
The Charter Financial Analyst (CFA) Level 1 Exam is recognised worldwide as a qualification specifically for finance and investment management. It is the entry point to the prestigious CFA charter. This charter is widely considered the golden benchmark in the finance industry worldwide.
Listing CFA Level One in the education section of the resume
Write "Chartered Financial Analyst." Include a hyphen and "Passed Level 1" next to it with the year you earned the qualification. Write "CFA Institute" in parentheses. Place this above your college degree information.
Yes, you can get a job once you clear CFA Level 1, as it shows your strong financial reporting, quantitative, corporate finance, and income-based skills to employers.