Failing the CFA Level 1 exam is a common setback that does not disqualify you from the program. You can retake the exam, as you are allowed up to six attempts per level. You must wait at least six months between attempts, pay the registration fee again, and focus on improving your study strategy.
If I Fail the CFA Exam Do I Have to Pay Again? Yes, if you fail the CFA exam, you will need to pay the exam fee again when registering for a retake. The CFA Institute does not offer free re-attempts or fee waivers due to exam failure.
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.
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.
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.
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.
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.
On average, allocate 15-20 hours per week for CFA Level 1 preparation. Plan for a longer overall preparation period, ideally around 5-6 months.
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%.
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.”)
Since 2014, the historical CFA pass rates for: Level 1 ranges from 22%-49%, with a 11-year average of 41%; Level 2 ranges from 29%-59%, with a 11-year average of 45%; Level 3 ranges from 39%-56%, with a 11-year average of 50%.
The CFA typically takes 2.5–4 years and costs between ₹2.5–3.5 lakhs in total. An MBA usually takes 1–2 years full-time and costs anywhere from ₹10 lakhs (Indian institutes) to ₹70 lakhs or more (international programs).
The CFA remains highly relevant, especially in investment-driven roles. It's still the gold standard for professionals in portfolio management, equity research, and institutional asset management,thanks to its global recognition and ethical focus.
Individual candidate results are released only to the candidate and are never released to a third party; however, lists of passing candidates are provided to societies for membership purposes.
No. Your results do not expire.
While CFA Level 1 on its own may not greatly impact job or university applications, it's an excellent foundation for anyone new to finance.
CFA Charterholder vs.
MBAs are in a much broader field of careers than CFA Charterholders but where they do overlap can be in the fields of finance and management. Regardless, according CFA Institute, the average salary for a CFA is $180,000 and the average salary for an MBA is $107,000.
CFA Institute, the global association of investment professionals, announces that of the 26,752 candidates worldwide who sat for the Level I CFA® Program exam in November 2025, 43 percent have passed. All candidates will be notified of their results today.
The one thing standing between you and success on the Level I CFA Program exam is hard work. CFA Institute recommends you aim to spend at least 300 hours preparing for the Level I exam.