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CFA Exam Exam Date:19 Nov' 25 - 23 Nov' 25
The Chartered Financial Analyst Institute conducted the CFA Level 1 November 2025 exams from November 12 to November 18, 2025. Candidates appeared for the exam across various centres during this period. As of now, the results for this November 2025 session have not yet been announced. The CFA Level 1 November 2025 results are expected to be declared around January 6, 2026, approximately 7 weeks after the conclusion of the exam window.
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Candidates will be able to download their results using their login credentials at the official CFA Institute website - cfainstitute.org. The result notification will also be sent to candidates' registered email addresses. The results will include the overall pass/fail status and a detailed summary of the candidate’s performance by topic area. The minimum passing score (MPS) is not publicly disclosed but is estimated to be around 70%.
The CFA Institute conducts the CFA Level 1 exam four times each year, in February, May, August, and November. The CFA level 1 is the first of the three levels of the CFA exams. The November 2025 session followed the August 2025 session, whose results were declared on October 7, 2025, with a pass rate of 43%. The November session results will provide updated insight into candidate performance based on recent exam trends.
Particulars | November 2025 |
|---|---|
November 12-18, 2025 | |
CFA level 1 Nov result date | January 6, 2026 |
Candidates can obtain the result of CFA level 1 Nov 2025 by logging into the CFA website. They must follow the steps given below to download the CFA level 1 result:
Visit the official website - cfainstitute.org
Go to Exam Overview
Next under CFA level 1 section click on the results link
Sign in to your CFA account with the login credentials
CFA level 1 result would be displayed on the screen
Save and download for future reference
To be able to get the pass rating in the CFA Level 1 result, candidates must be able to score above the Minimum Passing Score (MPS). There are no fixed CFA minimum passing marks as it varies from one session to another. The CFA institute never announces the CFA Level 1 MPS publicly. However, experts suggest that candidates must always aim at 70% or more marks to clear the MPS of the CFA Level 1 exam. On an average the CFA Level 1 MPS stays close to 70% marks in the exam. The CFA Institute also does not give numerical value to the score of candidates.
Along with declaring the CFA result, the CFA Institute also helps the candidates get a complete picture of their performance in the CFA exam. Given below are a few elements in the result analysis.
Candidate’s Score: If a candidate scores above the MPS then they are considered to have passed the exam. If a candidate scores below MPS then they are considered to have failed.
True Ability: The CFA Institute tries to ensure that the CFA level 1 result portrays a candidate’s true ability by accounting for all the positive as well as negative factors that may have affected the CFA result.
Confidence Interval: The CFA level 1 results are declared with a 90% confidence interval. A score well above the MPS or well below the MPS indicates a higher confidence interval as the candidate would have passed or failed under most circumstances. A candidate who passed with a score very close to the MPS would have to work harder to improve their score as well as the confidence interval of their score
Percentile Rank: The CFA results also indicate the level of the top 10 percentile and the bottom 10 percentile.
Topic Wise Performance: Candidates also get to know their performance in each of the topic areas through the CFA level 1 result. Similar to the aggregate score, the confidence interval in topic wise results would be higher in case of considerably higher scores (above 70%)
Along with the CFA Level 1 result, the CFA Institute also released the CFA Level 1 Nov 2025 pass percentage. The CFA level 1 pass percentage Nov 2025 is yet to be announced.
| Particulars | Details |
| Total number of candidates appeared | TBA |
| Total number of candidates passed | TBA |
| Total number of candidates failed | TBA |
| CFA Level 1 Pass Percentage | TBA |
The table given below shows the CFA Level 1 pass rate for previous sessions:
Session | Total Candidates | Passed Candidates | Failed Candidates | Pass percentage |
|---|---|---|---|---|
| April 2025 | 26,192 | 11,262 | 14,930 | 43% |
| May 2025 | 24,227 | 10,916 | 13,311 | 45% |
| February 2025 | 19,848 | 8,935 | 10,913 | 45% |
| November 2024 | 26,404 | 11,293 | 15,111 | 43% |
| August 2024 | 24,937 | 11,057 | 13,887 | 44% |
| May 2024 | 21,116 | 9,666 | 11,450 | 46% |
| February 2024 | 16,932 | 7415 | 9517 | 44% |
| November 2023 | 28,953 | 10,104 | 18,849 | 35% |
May 2023 | 23,352 | 9,042 | 14,310 | 39% |
February 2023 | 16959 | 6441 | 10518 | 38% |
November 2022 | 24937 | 8932 | 16005 | 36% |
August 2022 | 19,103 | 7068 | 12035 | 37% |
May 2022 | 19,403 | 7,315 | 12,088 | 38% |
February 2022 | 18,992 | 6,801 | 12,191 | 36% |
November 2021 | 28,170 | 7,607 | 20,563 | 27% |
August 2021 | 16,026 | 4,211 | 11,815 | 26% |
July 2021 | 28,849 | 6,468 | 22,381 | 22% |
May 2021 | 26,005 | 6,506 | 19,499 | 25% |
February 2021 | 28,683 | 12,510 | 16,173 | 44% |
2020 | 26,212 | 12,806 | 13,406 | 49% |
June 2019 | 83,656 | 34,585 | 49,071 | 41% |
Frequently Asked Questions (FAQs)
The November 2025 CFA Level 1 exam results are expected to be released around January 6, 2026, as this exam window ended recently on November 18, 2025.
The average pass rate in CFA level 1 is 40%
The cut off for CFA level 1 varies for every session as decided by the CFA institute.
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