Is CFA level 1 pass rate?

The CFA Level 1 pass rate generally hovers around 40-45%, with recent results showing rates like 43% (November 2025, August 2025) and 45% (May 2025, February 2025), above the 10-year average of about 41%, though rates can fluctuate due to factors like test deferrals, which significantly lower success rates for those candidates. First-time test-takers consistently see higher pass rates, while those who defer often have lower chances of passing.

What is the pass rate for CFA Level 1?

CFA Level I Pass Rate Stays at 43% for November Test

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.

Is CFA level 1 really difficult?

CFA Level 1 is considered challenging due to its broad curriculum, requiring significant study time (often 300-400+ hours), low historical pass rates (around 40-50%), and the need for strong conceptual understanding and application, especially in areas like Ethics and Finance. While it's the foundational level, its breadth and depth of material, often compared to multiple college exams, demand discipline and effective study habits, but it's achievable with consistent effort. 

Is the CFA level 1 pass fail?

The CFA Exam is graded on a pass/fail basis, with no numerical grades or percentiles provided. The overall pass rate for Level 1 is typically around 40%.

Why are CFA level 1 pass rates so low?

Why Is the CFA Pass Rate So Low? CFA pass rates are low due to many factors. Often, a CFA candidate will get in over their heads at the start and never be able to catch up to the study pace the exam demands.

Passed November 2025 CFA Level 1 (Pass Rate 43%) - What Should I Do Now?

Is 60% enough to pass CFA level 1?

Yes, you can potentially pass CFA Level 1 with a 60% score, as the CFA Institute doesn't have a fixed percentage; the Minimum Passing Score (MPS) varies, sometimes allowing a pass around 60-65% when exams are tough, while other times requiring 70%+ for an easier exam, so aiming higher (68-70%+) is safer, but 60% isn't an automatic fail. 

Is CFA level 1 harder than CA?

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.

Is 67% enough to pass CFA?

A 67% is a very strong score and likely enough to pass the CFA exam (especially Level 2 or 3), but not a guarantee, as the Minimum Passing Score (MPS) changes yearly based on difficulty, often hovering around 70% for Levels 2 & 3, with a target of 70%+ in most topics being ideal for mastery, though strong scores in some areas can compensate for weaker ones. 

Is CFA harder than CPA?

The CFA exam is generally considered harder than the CPA exam due to its significantly lower pass rates (especially across all three levels), broader investment curriculum, and longer time commitment (often years longer to complete), making it a more grueling, specialized finance challenge, while the CPA is a formidable accounting exam with more manageable sections and higher pass rates, focusing on auditing, tax, and reporting. 

Can I say I passed CFA level 1?

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.”)

Does JP Morgan hire CFA level 1?

For investment banks like JPMorgan or Morgan Stanley, CFA charterholders can leverage analytical prowess, particularly in client-facing positions where technical precision matters. In firms like EY and PwC, CFA can make professionals stand out in valuation, due diligence, and merger advisory engagements.

Is CFA math heavy?

Hardest Topics on CFA Level 1

Here are the hardest CFA Level 1 topics to watch out for: Fixed Income (FI): Think bond pricing, yield curves and duration. It's math-heavy, formula-rich and conceptually dense.

What's the average CFA salary?

CFA Charterholder vs.

MBAs are in a much broader field of careers than CFA Charterholders but where they do overlap can be in the fields of finance and management. Regardless, according CFA Institute, the average salary for a CFA is $180,000 and the average salary for an MBA is $107,000.

Is CFA level 1 enough to get a job?

Yes, you can get a job once you clear CFA Level 1, as it shows your strong financial reporting, quantitative, corporate finance, and income-based skills to employers.

Is 70 enough to pass CFA level 1?

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 harder than CFP?

The CFP designation is easier to obtain than the CFA charter. The historical pass rate has been above 60%, with 2025 at 64.33%.

Is CFA harder than bar?

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.

Is CFA still relevant in 2025?

Yes, the CFA is still worth it in 2025 for the right person aiming for roles in traditional investment management, portfolio management, and equity research, offering unparalleled global recognition, employer trust, and career advancement in a rigorous, time-intensive program, though its value is less emphasized in fast-evolving areas like fintech; its relevance hinges on aligning it with specific career goals, complementing it with practical skills (Python, modeling), and understanding it's a commitment requiring strategic study alongside work experience. 

Which pays more CFA or CPA?

CFAs typically have a higher earning potential than CPAs. CPAs often work with financial decisions that companies have already made, such as preparing tax documents and audits, while a CFA typically helps their clients make these financial decisions and plan for financial success.

Is 40 too old for CFA?

Is it too late to pursue a CFA at age 40? Not at all. There is no strict CFA age limit, so anyone can start, provided they meet the eligibility criteria. The CFA age requirement is flexible, so it suits people changing careers or with work experience.

Did CFA remove the 90th percentile?

The 10th and 90th percentiles were removed from the report because we have added scale scores. Scale scores add more precision to your results interpretation. The 10th and 90th percentiles only provide a comparison of your result against other candidates in the same administration.

Is CFA level 1 actually hard?

CFA Level 1 is considered challenging due to its broad curriculum, requiring significant study time (often 300-400+ hours), low historical pass rates (around 40-50%), and the need for strong conceptual understanding and application, especially in areas like Ethics and Finance. While it's the foundational level, its breadth and depth of material, often compared to multiple college exams, demand discipline and effective study habits, but it's achievable with consistent effort. 

Who earns more, CFA or CA?

The Bottom Line. CA and CFA are respected qualifications that lead to high-paying careers. In terms of salary, CAs often earn more in traditional accounting roles, especially in India. CFAs may earn more globally, particularly in investment-focused jobs.

Do Big 4 accept ACCA?

All Big 4 accountancy firms – Deloitte, PwC, EY, and KPMG – are active recruiters of ACCA-affiliated accountants. Choice often depends on your interest area: audit, consulting, tax, or advisory.

How prestigious is CFA level 1?

The Charter Financial Analyst (CFA) Level 1 Exam is recognised worldwide as a qualification specifically for finance and investment management. It is the entry point to the prestigious CFA charter. This charter is widely considered the golden benchmark in the finance industry worldwide.