Intro: Here you can read about CFA level 1 pass rate. We also present historical CFA pass rates from 1963 to 2016 (including level 2 and level 3 exams).
You can share your thoughts about how the pass rates changed from the beginning to date in the comments section just below the post.
Recent CFA Level 1 Pass Rates
CFA level 1 pass rates vary across the years. The table below presents pass rates for 14 recent exams.
In recent years, average CFA level 1 pass rates were:
- 40.6% for June exams,
- 40.6% for December exams, and
- 40.6% overall.
Read more about CFA results in our blog: What is the CFA passing score? How is the CFA exam graded?
Note the rate span, which is quite broad. The numbers range from 36% to 44%.
Historical CFA Pass Rates (Level 2 & 3 Included)
If you are a level 2 or level 3 candidate you might be interested in pass rates for these levels. The table below presents pass rates for all levels of the CFA exam from 1963 till now:
The numbers just confirm that it is not easy to pass the CFA exam at the first attempt, regardless of the exam level.
Editor's Note: This post was originally published in March 2013 and has been updated for accuracy and comprehensiveness.