Updated: November 10, 2023

CFA exam / Results

CF Exam Results Released

CFA Exam Results Released

Following the most recent rule of releasing level 1 & level 2 CFA exam results approx. 5 weeks post-exam, NOV 2023 level 1 & level 2 CFA exam results should be available ending December. However, since it's the holiday season in America, we think that your CFA exam scores may be released soon after the New Year, namely either on 2 or 4 Jan* 2024. Still, the end of Dec is also a likely CFA exam release date for both level 1 and level 2 candidates, so come back for updates!

Generally, CFA Institute intends to release level 1 & level 2 CFA exam results 5-7 weeks after the close of the exam window. Level 3 candidates need to wait 6-8 weeks.

For some time, the usual pattern for releasing CBT results has been: CFA exam date + 6-7 weeks for level 1 / 7-8 weeks for level 2 / 8-9 weeks for level 3. AUG 2022 level 1 & level 2 CFA exam results were the first CBT results to be made available roughly 5 weeks post-exam. As far as level 3 candidates are concerned, CFA Institute is trying to speed up the release of results but level 3 is always more time-consuming due to essay questions.

CFA exam results have usually been released either on Tuesday or on Thursday.

Your CFA Exam Exam Date Expected CFA Exam
Results Date
Pass Rate
NOV 2023 Level 1 Exam 11-17 Nov 2 or 4 Jan 2024* waiting
NOV 2023 Level 2 Exam 18-22 Nov 2 or 4 Jan 2024* waiting
AUG 2023 Level 1 Exam 22-28 Aug 3 Oct 2023 37%
AUG 2023 Level 2 Exam 29 Aug-2 Sept 5 Oct 2023 44%
AUG 2023 Level 3 Exam 29 Aug-5 Sept 25 Oct 2023 47%
May 2023 Level 1 Exam 16-22 May 27 June 2023 39%
May 2023 Level 2 Exam 23-27 May 6 July 2023 52%
Feb 2023 Level 1 Exam 14-20 Feb 28 March 2023 38%
Feb 2023 Level 3 Exam 21-23 Feb 12 Apr 2023 48%
Nov 2022 Level 1 Exam 15-21 Nov 12 Jan 2023 36%
Nov 2022 Level 2 Exam 22-26 Nov 19 Jan 2023 44%
Aug 2022 Level 1 Exam 23-29 Aug 4 Oct 2022 37%
Aug 2022 Level 2 Exam 30 Aug-3 Sept 11 Oct 2022 40%
Aug 2022 Level 3 Exam 30 Aug-6 Sept 1 Nov 2022 48%
May 2022 Level 1 Exam 17-23 May 7 July 2022 38%
May 2022 Level 3 Exam 24-26 May 28 July 2022 49%
Feb 2022 Level 1 Exam 15-21 Feb 12 Apr 2022 36%
Feb 2022 Level 2 Exam 22-26 Feb 19 Apr 2022 44%
Nov 2021 Level 1 Exam 16-22 Nov 11 Jan 2022 27%
Nov 2021 Level 2 Exam 26-30 Nov 19 Jan 2022 46%
Nov 2021 Level 3 Exam 23-25 Nov 3 Feb 2022 43%
Aug 2021 Level 1 Exam 13-30 Aug 14 Oct 2021 26%
Aug 2021 Level 2 Exam 31 Aug - 4 Sept 21 Oct 2021 29%
Aug 2021 Level 3 Exam 1-8 Sept 2 Nov 2021 39%
July 2021 Level 1 Exam 18-26 July 14 Sept 2021 22%
May 2021 Level 1 Exam 18-24 May 27 July 2021 25%
May 2021 Level 2 Exam 25 May - 1 June 3 Aug 2021 40%
May 2021 Level 3 Exam 25 May - 1 June 10 Aug 2021 42%
Feb 2021 Level 1 Exam 16 Feb-1 March 13 Apr 2021 44%
Dec 2020 Level 1 Exam 5/6 Dec 28 Jan 2021 49%
Dec 2020 Level 2 Exam 5/6 Dec 28 Jan 2021 55%
Dec 2020 Level 3 Exam 5/6 Dec 17 Feb 2021 56%
Dec 2019 Level 1 Exam 7 Dec 30 Jan 42%

* This is our educated guess but the results may arrive sooner (though they shouldn't be released later...).

As soon as you receive your CFA exam results, you can register for your next exam (next level or retake). However, the choice is yours. You can take as much time as you need before you actually register for your next exam.

2024 study plans (all levels) are available:
create a free CFA study plan here

You’ll get your results in your e-mail.

The e-mail message will tell you whether you PASSED or DID NOT PASS. Also, for your level 1 and level 2 exam you will learn about your performance for given topics relative to other exam takers (go to your CFA Institute account for more details). This information can help you in your preparation for future exams.

In this post, you can also
learn about:

CFA Exam Passing Score:
What is the MPS?

To pass your CFA exam, you have to meet the minimum passing score (MPS) set individually for each ended exam. The MPS may vary across years but it probably never exceeds 70%. However, neither the MPS nor individual candidate score are ever released.

So, you will never know precisely how many points you scored or what percentage level you reached. All you can say is that:

  • if you PASSED you met the MPS or you were close enough for the ethics adjustment to pull you through,
  • if you FAILED you were below the MPS or the ethics adjustment worked to your disadvantage.

To maintain high grading standards, the MPS is set as always for computer-based CFA exams.

When and How is the MPS Set?

The exact MPS value is set by the CFA Institute Board of Governors who gather after the exam to establish it. The set MPS value falls within the valid range established using the modified Angoff method, which provides an empirical basis for the MPS settlement. Applying the method, a large and diverse group of CFA charterholders assesses both the exam difficulty and actual candidate performance before the MPS is finally determined.

So Much Info and You Still Feel Like You Know Nothing?

You’re right. CFA Institute is very secretive about our results and hardly any hard facts can be given to narrow the information gap. Let us, however, wrestle a bit and try to draw some conclusions from what we know.

First, we need to set some common ground.

Let’s take the level 1 CFA exam, for example. There are 2 exam sessions, each including 90 exam questions. That makes it 180 questions for the whole level 1 exam. If we assume every question is worth 1 point, we end up with the maximum total score of 180 points. For an incorrect answer, no points are deducted.

Keeping in mind the common ground assumptions and facts about CFA exam results we gave above, we are able to analyze some grading-related issues and dispel some popular myths:

Question 1: Is the minimum passing score above 70%?

Question 2: Do I have to pass all the topics, to pass my CFA exam?

Question 3: Can I do badly in Ethics? There’s an Ethics adjustment!

Question 4: Does topic performance objectively indicate which topics definitely need improvement and which are fine?

Question 1: Is the minimum passing score above 70%?

Question 2: Do I have to pass all the topics, to pass my CFA exam?

Question 3: Can I do badly in Ethics? There’s an Ethics adjustment!

Question 4: Does topic performance objectively indicate which topics definitely need improvement and which are fine?

Q-1: Is the minimum passing score above 70%?

Forget about it!

Actually, the MPS for CFA exams is most likely to be slightly below 70%. To prove this observation, let’s examine the following situation:

Assume the MPS of 75%. You are notified about your level 1 CFA exam result. In the topic performance information, you see you scored above 70% for every topic. Still, your exam score message says you FAILED. You feel confused: “How come I failed? All my topic scores are above the 70% threshold which according to CFA Institute is a reasonable signal of topic mastery”.

That is why the MPS can't exceed 70%. Otherwise, you could always end up confused about your exam results like in our example.


To make the situation described above more clear-cut, let’s analyze it bit by bit.

From your topic performance information, you know you scored above 70% for each topic. So, your total score must have been above 70%. But since you know you failed, it must have been lower than the MPS (below 75% for our example). Perhaps you achieved 72% for each topic. You didn’t reach the MPS and that’s why you failed.

Even if our example is just a simplification, it shows well that for the MPS values above 70% there’s practically always a gap for those who may fail their exam despite having all their topic scores in the mastery range. Quite an undesirable situation for the candidates whose exam performance is on the verge of mastery, don’t you think?


If the MPS is above 70%, the grading system fails to be transparent. Thus, it’s most probable that usually the MPS fluctuates between 65% and 70%. However, for 2021 level 1 CFA exams, the MPS most probably exceeded 70%, which led to exceptionally low level 1 CFA exam pass rates :/

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Q-2: Do I have to pass all the topics, to pass my CFA exam?

Wait, but what does it actually mean to pass a topic? To score over 70%? Or to be above the MPS for the topic?

What you need to do to pass your CFA exam is to meet or exceed the MPS. But it holds true for your total exam score, not for separate topics. That’s a major principle!

Of course, if you score over 70% for every topic, it should ensure your passing the exam (see Question no. 1 above).

However, consider the following example:

You receive your level 1 CFA exam results. You did poorly in 2 topics and moderately fine in 5 (this time, we assumed the MPS of 69%):

LEVEL 1 TOPIC Score (%) Score (pts) No. of
Ethical and Professional Standards 89% 25 28
Quantitative Methods 94% 17 18
Economics 67% 12 18
Financial Statement Analysis 69% 18 26
Corporate Issuers 69% 11 16
Portfolio Management 86% 12 14
Equity Investments 65% 13 20
Fixed Income 45% 9 20
Derivatives 40% 4 10
Alternative Investments 60% 6 10
Your Total Score (SUM) 70% 127 180
MPS* 69% 124.2 -

* This is our assumption.
CFA Institute never gives you exact scores or releases the MPS.

Does it mean the e-mail message says you DID NOT PASS?

No! The example illustrates how various scores for different topics still give you a PASS because you managed to meet the MPS of 69% set for your exam.


Your total exam score is what counts! As a rule, to pass you must meet or exceed the minimum passing score set for your exam. The math is merciless, however. If you do badly in any of the topics, you have to excel at some other. In other words, every topic scored below the MPS has to be offset by another topic scored way above the MPS. This way, your total score can meet the MPS criterion and you pass.

Q-3: Can I do badly in Ethics? There’s an Ethics adjustment!

We’ve just said that the major principle behind passing the exam is meeting or exceeding the MPS.

So, even if you do badly on the Ethics questions but do great overall, you’ll pass your exam. Take a look at our example:

LEVEL 1 TOPIC Score (%) Score (pts) No. of
Ethical and Professional Standards 32% 9 28
Quantitative Methods 83% 15 18
Economics 83% 15 18
Financial Statement Analysis 88% 23 26
Corporate Issuers 88% 14 16
Portfolio Management 64% 9 14
Equity Investments 80% 16 20
Fixed Income 75% 15 20
Derivatives 80% 8 10
Alternative Investments 90% 9 10
Your Total Score (SUM) 74% 133 180
MPS* 67% 120.6 -

* This is our assumption.
CFA Institute never gives you exact scores or releases the MPS.

For the level 1 CFA exam, the number of questions per topic may vary from exam to exam. That's because CFA exam topic weights are given in ranges.

We assume there'll be as many as 28 Ethics questions in your exam. You must have gotten only 9 questions right because you scored only 32% in Ethics. But wait a minute. Other scores are great! It’s impossible you failed your exam. Your total score exceeds 70% by far, so it also exceeds the MPS of 67% that we assumed for your exam.

Be careful, though.

You may not manage to exceed the MPS much enough. If your final score borders the MPS, poor performance in Ethics will definitely contribute to your failure in the exam. That’s because of the Ethics adjustment explained in our post: Why Your Ethics Score Matters.


You do not have to excel at Ethics to pass your exam. However, here are 3 reasons for which it is surely worth paying attention to Ethics:

  1. The significance of ethical conduct in the workplace is unquestionable. The better you know the CFA Institute Code of Ethics and Standards of Professional Conduct, the more sensitive you’ll be to possible violations and better equipped to handle various situations.
  2. You will be tested on Ethics at every level of your CFA exam and every time Ethics will be counted among the most important topics.
  3. Ethics adjustment is applied to borderline cases. A good grade for the Ethics questions may pull you through if your total exam score borders the MPS. But if your Ethics performance is weak, it may cause you to fail the exam.

Q-4: Does topic performance objectively indicate which topics definitely need improvement and which are fine?

It’s not all that easy.

The information about your performance in different topics is meant to identify your strengths and weaknesses. However, there’s no objective truth about it. To prove the point, we analyze two opposing situations:


You scored poorly for Alternative Investments (AI). Before the exam, you felt quite strong on the topic. What to trust? The numbers or your intuition?

We assumed in the tables above that your level 1 exam included only about 10 AI questions, while the topic runs for about 100 pages in the CFA Program Curriculum. So, the AI exam sample was quite small relative to the overall material on the topic. Notice that if you answered correctly just one more question, your AI score would be higher by as much as 10 percentage points. That would shift you up quite a bit!

So, is AI definitely your weak point or was it just bad luck?

Before we can answer this question, we need to consider another example:


You scored poorly for Financial Statement Analysis (FSA). Weakness or misfortune?

This time the exam sample is bigger. The topic is quite extensive and your test was expected to contain as many as 26 FSA questions. Every correct answer improved your topic score by roughly 3.8 percentage points.

* Note that Alternative Investments, Derivatives, and Portfolio Management are all given the same exam weight of 5-8%. We assumed here that AI was a topic with the fewer questions. Nevertheless, you should be aware that in your real exam questions may be distributed a bit differently among topics (HERE: level 1 topic weights and questions).


For some topics, there are too few questions on the exam to definitely categorize them as your weakness or strength. In such cases, it may be hard to decide whether you know the topic poorly or if it was just bad luck (or good luck for that matter because although you scored over 70%, you feel you still don’t know much about the topic). For topics with a bigger number of questions, exam results are more representative. It is more likely that they really indicate whether you need to improve the topic or if you managed to master it already.

You have to stay rational about it. To resolve doubtful situations in which your exam performance contrasts your intuition about a topic, an additional parameter may come in handy. Your CFA mock exam scores can serve as good indicators. If you usually scored rather low for AI, and now your AI exam score is also poor, you definitely need to improve this topic area. If, however, you scored high in all the mock exams you took, the low exam result for AI may be just an accident. Still, it can’t harm you if you study even harder before your next exam.

What’s the CFA Exam Results Format?

Here are the 2 most important things when you view your CFA exam results:

thin dashed black line & thick blue line

The thin dashed black line is the MPS set for your exam. The thick blue line is YOU.

When it comes to your exam score:

  • blue ABOVE black = you PASSED
  • blue BELOW black = you FAILED

In Jan 2018, CFA Institute introduced this new – more visual – way of informing CFA exam takers about their scores.

More visual means more attractive. However, it still lacks the transparency and concreteness candidates long for.

In line with what we’ve already said, no concrete value is attributed to either the blue (YOU) or the black (MPS) line. Moreover, if your score is close enough to MPS, your blue line may even overlap with the black MPS line, which – unfortunately – will not always mean you passed :/.

For the sake of visual presentation, you’ll also see:

  • a thick purple dashed line telling you that only 10% of all candidates scored higher than that, and
  • a thick black dashed line telling you that only 10% of all candidates scored lower than that.

Both these lines will be placed – respectively – above and below the thin dashed black MPS line. They are to show you how you did in the exam compared to others. (We hope you can always find your thick blue line in the close vicinity of the purple line and way above the MPS line!)

Last but not least, because different favorable & unfavorable factors may influence your exam score – you will find your thick blue line inside a light blue box (confidence interval). This is to show your true ability, which might be higher than the line (but on the exam day you had to face some unfavorable circumstances) or lower than the line (but in the exam you worked under favorable circumstances). The fact that CFA Institute is trying to allow for additional factors is actually good!

CFA Exam Results Format: Passed Exam

For your topic performance presentation, the rules applied are pretty much the same. You’ll get an estimation of:

  • your topic score in the exam (blue line – no exact value given again),
  • your true topic ability (blue confidence interval – allowing for different favorable & unfavorable factors),
  • your topic performance compared to other candidates (thick dashed purple and black lines – indicating 10% of the best vs worst topic scores).

These estimations are all set against the MPS-like 70%-value thin black line which is considered to indicate 'topic mastery'. Your topics performance is generally presented using separate blue lines.

Level 3 candidates will also find a similarly presented ‘essays vs item sets’ comparison showing their performance in the exam.

How High Are CFA Exam
Pass Rates?

In previous years, CFA exam pass rates were fairly fixed around 43% for level 1, 46% for level 2, and a bit over 50% for level 3. In 2021, level 1 CFA exam pass rates were astonishingly low. However, the 2022 & 2023 level 1 pass rates are higher, which is hopefully a good sign.

Year Level 1 CFA Exam Pass Rates Level 2 Level 3
2015 42% (June);
43% (Dec)
46% (June) 53% (June)
2016 43% (June);
43% (Dec)
46% (June) 54% (June)
2017 43% (June);
43% (Dec)
47% (June) 54% (June)
2018 43% (June);
45% (Dec)
45% (June) 56% (June)
2019 41% (June);
42% (Dec)
44% (June) 56% (June)
2020 49% (Dec) 55% (Dec) 56% (Dec)
2021 44% (Feb);
25% (May);
22% (July);
26% (Aug);
27% (Nov)
40% (May);
29% (Aug);
46% (Nov)
42% (May);
39% (Aug);
43% (Nov)
2022 36% (Feb);
38% (May);
37% (Aug);
36% (Nov)
44% (Feb);
40% (Aug);
44% (Nov)
49% (May);
48% (Aug)
2023 38% (Feb);
39% (May);
37% (Aug)
52% (May);
44% (Aug)
48% (Feb);
47% (Aug)

Did you know that the “real” pass rate for level 1 has always been more like 30% than 43%? That's because even 25% of registered candidates decided to stay at home rather than go to the exam as they felt not ready to take it. Aware of the needs that CFA candidates have and the difficulties they face, we help all candidates – regardless of their exam level – stay on the right track with their prep. Our CFA exam study planner 4.0 is based on 3 pillars: control, motivation, and knowledge retention. If you follow our guide, you’ll get yourself responsible and productive exam prep. Should you execute your study plan week by week and learn efficiently while studying, you’re bound to find yourself among those who passed .

What to Do if You FAIL Your CFA Exam?
And if You PASS?

After you receive your CFA exam results and let the news sink in, you’ll be surely asking yourself this one little question: OK, what now?

Here’s a list of 6 things you should do if you FAIL your CFA exam (but also if you PASS it):

  1. Look at your blue line showing your overall performance in the exam.
  2. Compare your CFA exam topic results.
  3. Analyze the exam prep you had before your exam.
  4. Write down all your conclusions.
  5. Start your next preparation at least 5-4 months before your next exam.
  6. Have your own personalized CFA exam study plan and make sure you follow it.

Read on for the details. These depend on your personal exam experience.

I Failed My CFA Exam By a Hair's Breadth

CFA Exam Results Format: Almost Passed Exam

1. Look at your blue line showing your overall performance in the exam:

So, you are close enough to the MPS line to get a bit angry that you didn’t make it? Bummer… Keep your spirits up, though. It means you did quite a good job overall. OK. There are things you’ll need to improve. But the chances are high that your next CFA exam will be a success.

Below we help you identify your weak points, tell you what to focus on to improve, and suggest the best way of studying for you.

2. Compare your CFA exam topic results:

Take your time and scrutinize your topic performance. How many blue topic lines were over or close to the 70%-line and how many – way below? Focus on the latter ‘cos they indicate which topics you definitely need to improve. However, while studying don’t get tempted to neglect the topics you did well at this time. What you need to do is regularly review the contents of these topics and study the bits you feel insecure about. Your next exam may test you on different areas of the topics than it did this time.

NOTE: The visual presentation of your topic performance is meant to help you draw some useful conclusions and aid you in preparing for your next CFA exam. Even if it’s far from ideal, it has some valuable information for you if you can give it the right meaning.

3. Analyze the exam prep you had before your exam:

Topics analysis is one thing. But then there’s also an issue of your attitude. There’s always something we can do better. Think about what it is for you when it comes to the way you study. Perhaps you lost too much time not following your study plan but postponing your study hours? Or you had no study plan at all?!?! Maybe you practiced too little leaving tests till after you read all the topics? That’s a mistake. You should do exam-type questions systematically during your whole exam prep. Practice and theory should intertwine. Then, there’s also an issue of review. Few candidates do it on a regular basis (perhaps that’s why the pass rates are so low…). In your case, spaced revision throughout the whole exam prep (not just a week or two before the exam) is especially important! Why? Because while you focus on the topics you need to improve, you also need to review the topics you did well at to make sure you lose no points here next time.

4. Write down all your conclusions:

Better plan? More practice? Spaced review? As soon as you know what to change about your exam preparation, write it down and pin the list in a visible place. It’s the best way to hold yourself accountable. As time passes, all your resolutions will start to fade. But then it’s all there – written down point by point. A sheer look at the list reminds you of what you want to do better this time.

5. Start your next preparation at least 5-4 months before your next exam:

It’s up to you to decide how many months of preparation you need. But we’d like to encourage you to make it at least 5-4 months. This is an average study period for CFA exam candidates. The shorter your exam prep is, the more intensive it needs to get. Otherwise, you risk ending up with a result like the one you got lately.

6. Have your own personalized study plan and make sure you follow it:

You certainly need a good study plan. And we’re not saying it because we have this CFA exam study planner 4.0 for you. We’re saying it because there’s no other way you can successfully control your whole 300-hour exam prep. You need to take so much into consideration, now also your personal topics experience, practice needs, spaced review, or whatever it is you want to improve. When using our study planner, you can choose your topic sequence and the difficulty for all topics according to your topic performance in the previous exam. You can also control your progress week by week by summarizing your weekly study achievements. If you opt in for our paid program, you’ll get major motivational boosts (e.g. your Chance-to-Pass-ScoreTM) hand in hand with top study hints in the form of inbox messages to help you develop your study routine. Also, your review sessions will be properly scheduled in your study plan and some extra tools will be available for you to practice more.

I Failed My CFA Exam
By a Lot...

CFA Exam Results Format: Failed Exam

1. Look at your blue line showing your overall performance in the exam:

So, you are close enough to the thick dashed black 10th percentile line to get scared you’ll never make it? Not the way you imagined it?

Here’s what you need to do >> You need to rethink your approach completely! Ask yourself why you WANT to become a CFA charterholder (and how much you WANT it?). Then >> Follow our guide: take this revolutionary road and experience revolutionary effects .

2. Compare your CFA exam topic results:

Not too many satisfactory scores, huh…? Generally, you’ll need to work hard on every topic before your next exam. Unless there’s a topic you did reasonably well at. Perhaps you often use this topic’s concepts at work? Or you simply studied this topic more thoroughly? If the latter is the case, try to build on this experience and think about what exactly made this one topic score different than others.

3. Analyze the exam prep you had before your exam:

Even though you feel devastated by your CFA exam score, you need to know one thing. Not all of your exam prep was a fiasco. There were some bad things and some good things about it. Now it’s time to face the truth and call it all by name. What did you do right? What did you do wrong? This is probably the biggest step for you. Unless you can draw some meaningful conclusions, you won’t be able to carry on successfully.

4. Write down all your conclusions:

This is the only way to take your next exam prep seriously. Divide a sheet into two. Make the TO DO list and the NEVER TO DO list side by side. If you don’t make it, your next exam prep won’t be any different. Again: out of control, poorly executed, and letting your goal get out of perspective.

5. Start your next preparation at least 5-4 months before your next exam:

5-4 months is an average study period for candidates. However, the shorter your exam prep is, the more intensive it needs to get. Bearing in mind how much work there’s in front of you, you should aim at a sufficiently long exam prep for you. 5 or 4 months may not be enough but we make even 8-month study plans available to our users.

6. Have your own personalized CFA exam study plan and make sure you follow it:

Your next CFA exam prep needs to be revolutionary. That’s why you need a study plan that makes you work! Use this CFA exam study planner 4.0 to stay in control of your preparation. Personalize your study schedule so that it fits you. If it fits you well, it’ll be easier to follow. While customizing: (1) choose your start date and exam date; (2) change your topic sequence to your liking; (3) specify which topics are easy, moderate, or difficult to you; (4) plan your holiday weeks (especially if you’re opting for more than 5 months of preparation – some rest will do you good!); (5) sign in for motivational messages if you feel you lack motivation and a proper review system if you don’t know how to study efficiently. You’re on the right track. Just keep on going .

I Passed My CFA Exam!
New Is Before Me...

CFA Exam Results Format: Passed Exam

1. Look at your blue line showing your overall performance in the exam:

Congrats on passing your CFA exam! The next level is waiting for you . A new exam means a new challenge and new rules. You’ll do best if you start your new preparation with the analysis of your recent achievement. Because the closer you are to the MPS line, the more you may want to improve your studying process.

Below we show how you can do better. And there are at least two reasons why you should aim at doing better. Firstly, each next CFA exam level is harder than the previous one. Secondly, it’s not just a cliché – it’s a fact supported by fairly low and fixed pass rates. Every year, only around 50% of the successful-in-previous-level candidates pass their NEXT CFA EXAM. (The third reason we can think of is your natural desire to grow, which we strongly advocate .)

2. Compare your CFA exam topic results:

Start your analysis by looking at your topic performance. First, look at your Ethics score. Remember you will be tested on the same Code and Standards at each level of your CFA exam. Your latest Ethics result can tell you a lot. If it’s highly satisfactory, it says you should keep on studying Ethics the way you did (also, to a certain extent, it may be a good benchmark for studying other topics). If your Ethics score is unsatisfactory, you know you need to be more serious about this topic now. Also, pay attention to the topics you scored the lowest. Are they your Achilles heel or was it just an accident? That’s important because topics often share some common concepts across exam levels. Identify all the topic areas common for your previous and next exam. Then, think how well you know it and how much you’ll need to improve.

3. Analyze the exam prep you had before your exam:

You never err by asking yourself what you did right and what you did wrong. Your exam prep is no exception. This way you develop your skills and competencies and you grow both as a student and as a human. Perhaps you’d like to be more organized and regular about your study hours? Or maybe you struggled with the motivation to study? Finally, you surely neglected spaced revision. Obviously, it was a mistake because it’s the best way to keep your learning curve up, not falling.

4. Write down all your conclusions:

Better organization? Maintained motivation? Study content revision? All this may be on your growth list. Your next CFA exam prep needs to be more advanced than the previous one because your next exam is going to be more advanced than the one you just passed. And we hope you’re not going to take it easy now just because you were successful once. Your next exam success is not coming cheap – you need to earn it!

5. Start your next preparation at least 5-4 months before your next exam:

If your previous exam prep was longer than that, feel free to stick to your way. All we’re saying is that the majority of CFA exam candidates do 5-4 months of prep. You need to choose what’s best for you and – since you already had quite a successful exam prep – you surely know it best. No matter the prep length – just make sure you approach your prep responsibly and productively!

6. Have your own personalized CFA exam study plan and make sure you follow it:

A good study plan is a must for every successful exam preparation. We hope you agree. Here you can create your CFA exam study plan and personalize it according to your needs. It puts you in control of your whole exam prep. Week by week you see your progress as you study readings (aka. learning modules). With our paid plan, you also get to know how long to study each reading. These estimations can be particularly helpful since you have no experience in preparing for the next exam level. To keep your motivation strong (and to add some fun to studying), you’ll also get your Chance-to-Pass-ScoreTM estimated and illustrated. It grows when you’re doing fine, i.e. when you mark your readings green for done, summarize your study achievements week by week, or do your spaced revision sessions scheduled throughout your whole preparation. Good luck with your upcoming prep!

About Soleadea:

Our CFA Exam Study Planner is available to candidates of all levels at groundbreaking Pay-What-You-Can prices. You decide how much you want to pay for our services. After you activate your account, you get unlimited access to our Study Planner 4.0 with study lessons inside, various level 1/level 2 study materials & tools, regular review sessions, and a holistic growth approach to your preparation. Join

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