Yes, 6 months is generally considered sufficient and is the recommended timeframe by the CFA Institute and providers like UWorld to prepare for the CFA Level II exam. Candidates typically spend 300+ hours (roughly 13 hours per week over 6 months) preparing for this exam, which is known for its complex, application-based item set format.
Three months can be enough time, but typically it takes a candidate at least six months to prepare for the CFA Level 2 exam. UWorld's course is designed to be used for a more traditional six-month timetable but can be adjusted to meet everyone's schedule.
How long do I need to study for CFA Level II? The CFA Institute reports that it will take around 328 hours spread across at least six months to prepare for the CFA Level II exam.
You'll need to set aside anywhere from 6-9 months to prepare. Customize those hours to best fit your schedule. Plan an hour or more into each day or map out longer weekend sessions if finding time during the workweek is difficult.
Is CFA Level 2 much harder than Level 1. Yes, many find Level 2 harder. The questions are longer, the concepts more complex, and the item set format tests application, not just recall. It feels like a big step up.
Average Age of CFA Candidates
Although many candidates are in their late twenties or early thirties, the Program has a wide age range. Many begin at 35, 40, or even 50. Some of the most thoughtful, determined candidates are the ones who start later. Experience is not a burden.
The 10th and 90th percentiles were removed from the report because we have added scale scores. Scale scores add more precision to your results interpretation. The 10th and 90th percentiles only provide a comparison of your result against other candidates in the same administration.
CFA Institute Reports Results for CFA® Program Level II Testing in November 2025. CFA Institute, the global association of investment professionals, announces that of the 15,003 candidates worldwide who sat for the Level II CFA® Program exam in November 2025, 42 percent have passed.
Most Difficult CFA Level 2 Topics
CFA Level 2 isn't just about recall; it's about applying tools, analyzing data, and connecting concepts under pressure. UWorld trains you to do exactly that, with expert-led study materials and explanations, exam-style practice, and a system trusted by over 4 million students preparing for high-stakes exams.
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.
(Though this only includes the June exam for 2018; the average age for December test takers ticked slightly higher – between 0.2 and 0.3 years – from 2013 through 2017). For Level II, the average age at registration has dropped from 28.6 to 28.1 over the last five years.
6 months is more than enough for most L1 candidates. Level 1 isn't won by stretching the calendar, it's won by consistency and execution.
Each candidate is allowed up to six total attempts per exam level. Candidates who are unsuccessful after six attempts at the same level are no longer eligible to register —this applies to attempts under both existing and newly created accounts.
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.
The CFA may be down, but it's not out, financial advisors say. A total of 116,727 people sat for all three levels of the CFA exam in the first eight months of 2024, down 2,735 from the same period in 2023, according to the CFA Institute.
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.
If you have earned a certificate from CFA Institute such as the Sustainable Investing Certificate or Investment Foundations, add it to the certifications or education section of your resume or CV. You may also include the date your certification was issued.
There is no strict CFA age limit, so people of all ages can join. The CFA age requirement only asks for a degree or relevant work experience. Many individuals who choose to pursue the CFA do so around the age of 40 or later. The age limit for CFA course should not stop anyone motivated to grow.