CFA Results 2025 August Date (Oct 9): Level 2 Release Date, Check Pass Rate & Score Validity
Chartered Financial Analyst Exam 2025 ( CFA Exam )
Registration - 29 Apr '25 - 29 Oct '25
CFA 2025 Level 2 result for the August session has been released on October 9, 2025. CFA result 2025 was released on October 7, 2025, for the Level 1 August exam. CFA pass rate stood at 43% for the Level 1 exam. The Level 3 CFA 2025 exam results will also be released on October 23, 2025. The CFA result will be accessible via email. The CFA exam results are emailed to the candidates. CFA results of candidates indicate either ‘pass’ or ‘did not pass’. Now, the detailed performance summary is also shared with the students.
The CFA scorecard and result also contain a summary of their performance on each topic. Candidates who do not pass the exam are given a detailed performance summary. The CFA exam results are available approximately 5-7 weeks after closing a CFA exam window, depending on exam level. CFA exam results for Level I and Level II 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.
Latest updates: CFA result 2025 Level 2 August OUT; Check Live Updates
- CFA Result 2025 - Important Points
- CFA Exam 2025 Exam Dates & Schedule
- How to Check CFA Result 2025?
- CFA Result: Minimum Passing Score
- When Will the CFA Result Be Declared?
- Understanding CFA 2025 Result
- FAQs Related to CFA Results
CFA Result 2025 - Important Points
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:
Commonly asked questions
The "passing score" for the CFA exam is the Minimum Passing Score, which is set by the CFA Institute Board of Governors after each exam. This ensures fairness to the candidates, and the difficulty level is taken into consideration when setting the minimum score. The authorities do not make the MPS public, but candidates who pass the exam will get a mail regarding the status of the result.
It is important to note that the CFA Institute does not release individual candidate scores or detailed exam scores and responses to exam questions. The results are only available online for approximately one year after the exam date.
The pass rates for CFA exams can vary. The CFA Institute also releases pass rates for each exam level after the results are announced.
Level I: Pass rates for Level I exams have historically been around 40% to 45%. This means that, on average, 40-45% of candidates pass the Level I exam.
Level II: Pass rates for Level II exams have historically been lower than Level I, averaging around 40% to 45% as well.
Level III: Pass rates for Level III exams have tended to be slightly higher, with historical pass rates ranging from 50% to 60%.
CFA Exam 2025 Exam Dates & Schedule
Take a look at the table below for the complete schedule of CFA Exam 2025 exam
| Dates | Upcoming Exam Dates |
|---|---|
| 23 Oct ' 25 | CFA Result 2025 Level 3 August exam |
| Dates | Past Exam Dates |
|---|---|
| 09 Oct ' 25 | CFA Level 2 2025 August Result |
| 01 Jul ' 25 | CFA 2025 May Level 2 Result |
| 26 Jun ' 25 | CFA 2025 May Level 1 Result |
How to Check CFA Result 2025?
Candidates can follow the steps given below to check the result of the CFA exam -
CFA result login window
- Visit the official website
- Go to the 'Programs' tab under results section
- Enter the email ID and password
- The result is displayed on the screen
- Download and take its printout
Commonly asked questions
There is no fixed passing marks or percentage that the candidate needs to secure to pass the CFA exam. They need to meet the minimum passing score (MPS) which is decided by the CFA institute and is very discreet. The MPS can vary from one exam window to another. While the exact MPS remains confidential until results are released, historical data and analyst estimates show that the MPS usually remains between 65% to 70%.
Each level of the CFA exam has its own criteria and passing score. CFA institute sets a MPS which changes with each cycle for the newly registered candidates. Some years test takers will receive an overall CFA score of 65% and fail, and in some years they may receieve a score of 62% and pass. The scoring plays a role in deciding the overall pass score in CFA exam. In general, an overall score of 70% and above will help you pass the CFA exam.
CFA Result: Minimum Passing Score
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.
Commonly asked questions
After passing the Level 3 of the CFA exam, candidates should register officially with the CFA Institute as the CFA Charterholder. This will open doors to various opportunities. Students can opt for jobs such as Investment manager, hedge fund manager, investment banking analyst, corporate financial analyst, stock analyst, etc.
Students can also opt for further certifications such as Chartered Alternative Investment Analyst (CAIA)
Once the candidate has cleared Level 2 of the CFA exam, they should start preparing for the Level 3 exam. Starting the CFA Level 3 preparation early and strategizing will help candidates pass the CFA Level 3 exam with a better score.
To prepare for the CFA exam, students should focus on the constructed response questions, writing skills, curriculum topic differences from the previous levels, and weightage of topics in Level 3 of the CFA exam.
When Will the CFA Result Be Declared?
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:
| CFA Exam Level | CFA Exam Date | Result Date |
|---|---|---|
| August 2025 Level 3 | 15-Aug-2025 to 19-Aug-2025 | 16-Oct-2025 (tentative) |
| August 2025 Level 2 | 27-Aug-2025 to 31-Aug-2025 | 09-Oct-2025 (tentative) |
| August 2025 Level 1 | 20-Aug-2025 to 26-Aug-2025 | 07-Oct-2025 |
| May 2025 Level 2 | 21-May-2025 to 25-May-2025 | 01-Jul-2025 |
| May 2025 Level 1 | 14-May-2025 to 20-May-2025 | 26-Jun-2025 |
| February 2025 Level 1 | 17-Feb-2025 to 23-Feb-2025 | 03-Apr-2025 |
| February 2025 Level 3 | 13-Feb-2025 to 16-Feb-2025 | 22-Apr-2025 |
Also Read: When is the CFA exam 2025-26?
Commonly asked questions
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 8-10 weeks after the close of the exam window, and approximately ten weeks for the CFA Level III exam.
To check the CFA result, you can follow these steps:
- Visit the official website of the CFA Institute.
- Find the link "CFA result" on the home page.
- Enter your email ID and password to log in.
- The result will be displayed on the screen.
- Download and take a printout of the result for future reference.
For the Level 1 exam candidates, the CFA Institute will only release a pass or fail result. There will be no detailed result breakdown in any specific section or cores. They will only receive a performance band, if they pass the exam.
On the other hand, CFA level 2 and 3 candidates will receive a pass or fail result along with the detailed breakdown of the CFA result and scorecard. Along with the performance band, they can check how they did in the sections and core areas.
Understanding CFA 2025 Result
Result: 23 Oct ' 25
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 2025?
Understanding CFA exam result
Commonly asked questions
The following Practical Skills Module is available for the Level 3 CFA candidates. They need to complete the PSM in order to view their CFA result:
- Analyst Skills
- Financial modelling
- Portfolio Development and Construction
- Python, data Science and AI
- Python Programming Fundamentals.
Candidates should complete their PSM in order to view their CFA result. Each PSM takes about 10-20 hours to complete. The level 1 CFA exam has the following PSMs:
- Financial Modelling
- Python Programming Fundamentals
FAQs Related to CFA Results
Check some of the Frequently Asked Questions (FAQs) on CFA results
Commonly asked questions
If someone fails a level of the CFA exam, they have the opportunity to retake that specific level in the future exam windows. They would be required to register again to take the same exam again. The CFA level 1 exam is offered twice a year, and students can reapply.
There is no limit to the number of attempts to take for a specific level. Students can try to change the preparation strategy to avoid faltering.
CFA exam results are released according to the following timelines
| Level | Days of result release |
|---|---|
| Level I CFA exam | Released in about 60 days after the exam date |
| Level II and III Exams | Released in approximately 90 days after the exam date |
CFA results are released online only. Candidates who appeared for the CFA exam will get an email regarding their CFA results and can check through candidate portal.
The waiting time for CFA exam results is as follows:
Level I Exam: Results for the Level I CFA exam are released in about 60 days after the exam date. This means one can expect to receive their Level I results approximately in two months after taking the CFA exam.
Level II and III Exams: Results for the Level II and III CFA exams take a bit longer to be released. They are available approximately in 90 days after the exam date. So, for Levels II and III, one can expect to receive their results about three months after taking the CFA exam.
Three pathways will be released in mid-August 2025 for the Level 3 PSM. These are:
- Practical Macro (Portfolio Management Pathway)
- Due Diligence (Private Markets Pathway)
- Managing Private Wealth Clients (Private Wealth Pathway)
The following PSM is availabel for the Level 2 CFA exam:
- Analyst Skills
- Python, Data Science and AI
- Python Programming Fundamentals
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