A 67% score on the CFA Level 1 exam is on the borderline of the typical Minimum Passing Score (MPS), making it a risky, yet possible, pass. While historical MPS data shows passing scores can range from 56% to 74%, recent trends indicate a higher, more competitive threshold often around 68%–70%.
CFA Level 1 Passing Score
The CFA Institute Board of Governors sets the MPS for each level, and that changes with each cycle of new candidates. Some years test takers will receive a 65% overall score and fail, while in other years candidates have received a 62% score and passed.
The MPS (Minimum Passing Score) is set after each exam administration to determine whether a candidate has passed or failed. The MPS is 1600 for Level I, 2600 for Level II, and 3600 for Level III.
Many successful CFA charterholders failed Level 1 once or more before eventually passing. You're in good company. Give yourself a day or two to sit with the disappointment, then get ready to rise.
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.
CFA Level I Pass Rate Stays at 43% for November Test
Candidates who put off taking the test have a smaller likelihood of success. Those who took the Level I exam in November with at least one deferral saw a 29% pass rate, compared with 49% for first-time candidates, the CFA Institute said.
The standard score of 400 reflects the minimum passing level recommended by the NBOME for COMLEX-USA Level 1. This candidate score report does not constitute an official transcript.
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.”)
In-Depth Breakdown of the Most Difficult CFA Level 1 Topics & How to Tackle Them
Yes, it's possible to pass CFA Level 1 in 1 month with focused study, disciplined daily schedules, and frequent practice with mock exams and quizzes.
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.
Here are the hardest CFA Level 1 topics to watch out for:
For level I the minimum score is 1000, the MPS 1600 and the maximum score is 1900. The first digit represents the level of the exam i.e. CFA level I so in practice scores range from 0 to 900 with 600 being a pass. A scale score is a mathematically transformed raw score.
All Big 4 accountancy firms – Deloitte, PwC, EY, and KPMG – are active recruiters of ACCA-affiliated accountants. Choice often depends on your interest area: audit, consulting, tax, or advisory.