CFA Result 2026: February Release Date (OUT), How to Download, Check Pass Rate & Score Validity

Refer to the important instructions for the CFA exam below:

• The CFA exam results will be available approximately 7-10 weeks after the close of a CFA exam window, depending on exam level. CFA Level I and Level II exams are expected to be available approximately 5-7 weeks after the close of the exam window, and approximately 7-8 weeks for the CFA Level III exam.
• Candidates have to complete their Practical Skills Module (PSM) before checking the CFA result. In order to receive CFA exam results, candidates have to complete at least one PSM at each level.
• Detailed exam scores and responses to exam questions, however, will not be shared with the candidates as they are officially owned by CFA Institute.
• After candidates receive their CFA results, they may register for the next exam.
• Information regarding the result is revealed to only candidates who took the exam and not to a third party.
• CFA results will be available online for approximately one year after the exam date.
• After the expiry of the timeline, candidates can request an official letter confirming their 'pass' or 'did not pass' exam results. However, their topic area performance summary will no longer be available.

Also Read:

• What After CFA Results 2026?
• CFA pass rate over the years

Level I and II CFA results are usually released within five to seven weeks of the exam day. Level III CFA results are generally released in about 7-8 weeks after the close of the exam window. CFA results are usually released on Tuesdays or Thursdays. Check below the expected CFA result release dates for 2025 session exam windows:

Also Read: When is the CFA exam 2026?

Here is how to check result of CFA exam:

CFA result login window

• Open CFA Institute website 
• Click Programs under results section
• Fill email ID and password 
• CFA result is shown
• Download and take its printout

A minimum passing score, MPS is set by the CFA Institute Board of Governors, after every exam for each level. The purpose of this approach is to ensure fairness to candidates across administrations as the difficulty of each exam is taken into account when setting the MPS. CFA Institute does not release the MPS or individual candidate scores. 

How is the MPS Calculated? 

The minimum passing score or MPS is decided by experts at the CFA Institute. The board follows the guidelines mentioned below when measuring the MPS for the CFA exam results. 

• Fair treatment to all candidates appearing for the CFA exam while upholding high standards of the CFA Charterholders worldwide
• Employing relevant expert insights and industry best practices to maintain a high-quality testing process

• Transparency with all the stakeholders whilst protecting the confidentiality of the exam information
• Maintaining consistency in evaluation methods while allowing flexibility to adapt to changing circumstances.

Also Read: CFA MPS: Is 65% enough for CFA exam?

The CFA Institute is very secretive about the results. The scores are emailed to the candidates mentioning whether they passed the exam or not. Listed below are a few things which will help you understand and interpret the CFA score better:

• Minimum Passing Score (MPS): The first thing to catch your attention will be a thin grey line which represents the Minimum Passing Score (MPS).
• The bold grey line: The thicker grey line represents the score obtained by the candidates in the CFA exam. If the thick grey line lies above the MPS line, it means you have passed the exam but if it lies below the MPS then it means you have faltered. 
• Confidence Interval: The light blue box around the score of the candidate represents a 90% confidence interval. 

A candidate who has scored really well could have a high confidence interval that they would have passed under nearly any circumstances and will have the grey line with the confidence interval box above the MPS. 

A candidate who has scored poorly can have a high confidence interval they would not have passed under any circumstances and would need to study more in the future will have the grey line with a confidence interval box under the MPS line.

A candidate who has secured an average score (close to MPS) might have passed under some circumstances and would have pushed the odds in his/her favour, the score line and confidence interval box will overlap the MPS. 

• Purple dashed line: The purple dashed line represents the 90th percentile score which means 10% of the candidates who appeared for the exam scored higher than this in the exam.
• Black dotted line: The thick black dotted line represents the 10th percentile score which means 10% of the candidates who appeared for the exam scored lesser than this on the exam. 

Read More: How to Interpret CFA exam results 2026?

Understanding CFA exam result

Check some of the Frequently Asked Questions (FAQs) on CFA results