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CFA Pass Percentage In India for Level 1, 2, 3
Edited By Sumeet Sudarshan | Updated on Apr 22, 2025 06:21 PM IST | #CFA Exam
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CFA Exam Application Date : 12 Feb' 2025 - 05 Aug' 2025
Chartered Financial Analyst Institute (CFAI) declares the CFA pass percentage 2025 for all levels along with the result on its official website - cfainstitute.org. The CFA Level 3 pass rate Feb 2025 will be published on April 22, 2025 along with the results Earlier, the CFA Level 1 Feb 2025 pass percentage was declared on April 3, 2025. Out of the total 19,848 students in CFA Level 1 Feb 2025 exam, a total of 45% passed. The CFA Level 3 Feb 2025 pass percentage will be declared on April 22, 2025 after 9:00 am ET or 6:30 PM IST. The upcoming CFA Level 2 May 2025 pass percentage will be declared in the second week of July 2025.
The CFA passing percentage in India indicates the number of candidates who have cleared the exams. Once a candidate has successfully completed the CFA certification, they can apply for various job opportunities like portfolio managers, investment managers, chief financial officers and many others of a similar nature. The candidates will receive a “pass” or “fail” rating in the CFA exams. Candidates can check the CFA pass percentage 2025, and trends in the previous sessions below in this article.
CFA Pass Percentage 2025
Given below is the summary of CFA pass percentage across the three levels for earlier sessions.
CFA Pass Percentage - Trends (Levels 1, 2, 3)
Year | Overall | Level 1 | Level 2 | Level 3 |
|---|---|---|---|---|
| February 2025 | - | 45% | TBA | 49% |
| Nov 2024 | - | 43% | 39% | - |
| Aug 2024 | 44% | 44% | 47% | 48% |
| May 2024 | 51% | 46% | 59% | - |
| February 2024 | 46% | 44% | - | 49% |
| November 2023 | - | 35% | 45% | - |
| August 2023 | 42% | 37% | 44% | 47% |
| May 2023 | 44% | 39% | 52% | - |
| February 2023 | 43% | 38% | 48% | |
| November 2022 | 38% | 36% | 44% | - |
| August 2022 | 41% | 37% | 40% | 48% |
May 2022 | 42 % | 38% | - | 49% |
February 2022 | 39% | 36% | 44% | - |
November 2021 | 37% | 27% | 46% | 43% |
August 2021 | 29% | 26% | 29% | 42% |
July 2021 | 22% | 22% | - | - |
May 2021 | 36% | 25% | 40% | 42% |
February 2021 | 44% | 44% | - | - |
2020B | 52% | 49% | 55% | 56% |
2019B | 42% | 42% | - | - |
2019A | 45% | 41% | 44% | 56% |
2018B | 45% | 45% | - | - |
2018A | 46% | 43% | 45% | 56% |
CFA Level 1 Passing Score
The minimum passing score (MPS) differs every year. Candidates have to score higher than the MPS in order to qualify for the CFA level 1 exam 2025. The institute will announce the MPS for CFA level 1 exam along with the CFA level 1 result for each window. Candidates can get their CFA percentile rank from the CFA exam performance guidance available on the website.
CFA Level 1 Result 2025 - Pass Rates
According to the latest available data, the CFA Level 1 pass rate for November 2024 is 43%. Below are the pass rates of the previous sessions so that candidates can have a fair idea about the competition and plan their preparation.
CFA Level 1 Pass Rate
| Session | Total Candidates | Passed Candidates | Failed Candidates | Pass percentage |
|---|---|---|---|---|
| February 225 | 19,848 | 8,935 | 10,913 | 45% |
| November 2024 | 26,404 | 11,293 | 15,111 | 43% |
| August 2024 | 24,937 | 11,050 | 13,887 | 44% |
| May 2024 | 21116 | 9666 | 11450 | 46% |
| February 2024 | 16932 | 7415 | 9517 | 44% |
| November 2023 | 28,953 | 10,104 | 18,849 | 35% |
| August 2023 | 23289 | 8713 | 14576 | 37% |
| May 2023 | 23352 | 9042 | 14310 | 39% |
| February 2023 | 16959 | 6441 | 10518 | 38% |
| November 2022 | 24937 | 8932 | 16005 | 36% |
| August 2022 | 19103 | 7032 | 12071 | 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% |
Passing Score for CFA Level 2
The minimum passing score (MPS) differs every year. Candidates have to score higher than the MPS in order to qualify for the CFA level 2 exam 2025. The institute will announce the MPS for CFA level 2 exam along with the CFA level 2 result for each window. Candidates can get their CFA percentile rank from the CFA exam performance guidance on the website. Candidates who fail to qualify for the CFA level 2 exam can give another attempt.
CFA Level 2 Result - Pass Rates of previous years
Given below are the pass rates of the previous years so that candidates can have a fair idea about the competition and plan their preparation accordingly.
CFA level 2 Pass Rate
Session | Total number of students who appeared | Candidates passed | Candidates failed | Passing rate |
|---|---|---|---|---|
| May 2025 | - | - | - | - |
| November 2024 | 13,589 | 5,324 | 8,265 | 39% |
| August 2024 | 8,872 | 4,164 | 4,708 | 47% |
| May 2024 | 14304 | 8386 | 5918 | 59% |
| November 2023 | 14,585 | 6,377 | 8,208 | 44% |
| August 2023 | 9074 | 3999 | 5075 | 44% |
| May 2023 | 1585 | 8291 | 7604 | 52% |
| November 2022 | 12313 | 5382 | 6931 | 44% |
| August 2022 | 15608 | 6317 | 9291 | 40% |
February 2022 | 11,699 | 5,132 | 6,567 | 44% |
November 2021 | 18,047 | 8,290 | 9,757 | 46% |
August 2021 | 10,565 | 3,064 | 7,501 | 29% |
May 2021 | 33,066 | 13,300 | 19,766 | 40% |
2020 | 18,136 | 10,025 | 8,111 | 55% |
2019 | 74,735 | 32,954 | 41,781 | 44% |
2018 | 64,216 | 28,872 | 35,344 | 45% |
2017 | 56,939 | 26,919 | 30,020 | 47% |
CFA Level 3 Result 2025- Passing Score
The minimum passing score (MPS) is not pre-decided it differs every year. Candidates have to score higher than the MPS in order to qualify for the CFA level 3 exam 2025. The institute will announce the MPS for CFA level 3 exam along with the CFA level 3 result for each window. Candidates can get their CFA percentile rank from the CFA exam performance guidance on the website. Candidates who fail to qualify for the CFA level 3 exam can retake the exam.
CFA level 3 Pass Rates 2025
The CFA Institute has released the CFA Level 3 pass percentage for February 2025 along with the results on April 22, 2025. According to the latest available data, the pass rate of CFA level 3 for August 2024 was 48%. Below are the pass rates of the previous sessions so that candidates can have a fair idea about the difficulty level of the exam.
CFA level 3 Pass Rates - Previous Session
Session | Total number of students appeared | Candidates passed | Candidates failed | Passing rate |
|---|---|---|---|---|
| February 2025 | 11,131 | 5,441 | 5,690 | 49% |
| August 2024 | 16,947 | 8,081 | 8,866 | 48% |
| February 2024 | 13619 | 6734 | 6885 | 49% |
| August 2023 | 16035 | 7585 | 8450 | 47% |
| February 2023 | 14858 | 7102 | 7756 | 48% |
| August 2022 | 10376 | 5032 | 5344 | 48% |
May 2022 | 12,384 | 6,047 | 6,337 | 49% |
November 2021 | 16,186 | 6,989 | 9,197 | 43% |
August 2021 | 2,769 | 1,091 | 1,678 | 39% |
May 2021 | 21,603 | 9,088 | 12,515 | 42% |
2020 | 11,330 | 6,290 | 5,040 | 56% |
2019 | 38,377 | 21,380 | 16,997 | 56% |
2018 | 35,518 | 19,920 | 15,598 | 56% |
2017 | 31,631 | 17,173 | 14,458 | 54% |
2016 | 28,884 | 15,606 | 13,278 | 54% |
What after CFA exams?
There are various opportunities that a candidate can opt for after completing CFA certification course. After successfully completing the CFA certification course, a chartered financial analyst can get employed in positions such as business consultant, investment manager, private banker, CFO and many more. In India, CFA-qualified students get an average salary of Rs. 8,00,000- Rs. 20,00,000.
Frequently Asked Questions (FAQs)
1. What is the average passing percentage for CFA?
The CFA Institute reports the pass rates for Level I and Level II of the exams are usually between 40% and 50% with Level III having a slightly higher pass rate.
2. Does the CFA institute publish historical pass percentage for CFA Level 1, Level 2 and Level 3?
Yes, the CFA institute publishes historical pass percentage for all the three levels of CFA.
3. What was the pass percentage for CFA level 1 exam for November 2024?
The pass rate for the CFA level 1 exam for November 2024 is 43%.
4. How can we check CFA results?
CFA result is available on the official website- www.cfainsistute.org.
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