Starting with the February 2025 (Level III) and May 2025 (Level I & II) administrations, the CFA Institute introduced scaled scores to replace the previous scoring system, providing a numerical representation of performance (e.g., 0–900 range) alongside a minimum passing score (MPS). Results continue to be "Pass" or "Did not Pass" based on the MPS.
You will earn a scale score on each exam you take starting with the February 2025 CFA exam administration. For Level I, the scale scores range between 1000 and 1900; for Level II, 2000 to 2900; and for Level III, 3000 to 3900.
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.
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.
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.”)
No, studying for any CFA exam for less than 6 months will not give you enough time to adequately prepare unless you have a relevant background in the curriculum. According to CFA Institute, candidates study on average 348 hours for the Level I exam, 364 hours for the Level II exam, and 365 hours for the Level III exam.
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.
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.
November 2025 CFA Level I Results Are Out
The November 2025 CFA Level I results are officially out. CFA Institute released results to all candidates in January 2026 and confirmed a global pass rate of 43%.
Instead, a deep understanding of the principles is necessary to pass this level successfully. It would be safe to generalize that most CFA charterholders would call Level 2 the hardest of the CFA Exams. However, with patience, dedication, and practice, candidates can conquer the Level 2 Exam.
Cfa level ii jobs
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.
CFA Level 1 passing scores 2012-2025 (estimated)
We estimated that CFA Level 1's MPS ranged from 56%-74% from 2012-2025, with an 13 year average of 65%. The latest estimated MPS for CFA Level 1 is estimated to be around 68%.
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.
Will AI replace CFA professionals in finance jobs? No. While AI optimises efficiency, it does not replace intelligent decision-making, client engagement, or ethics oversight performed by CFAs.
Mature markets like the U.S. and the UK provide high CFA average salaries, while emerging markets like India and the UAE offer rapid career growth and regional leadership roles.