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    CFA Pass Percentage In India for Level 1, 2, 3

    CFA Pass Percentage In India for Level 1, 2, 3

    Sumeet SudarshanUpdated on 16 Jan 2026, 12:23 PM IST

    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 1 and 2 Nov 2025 pass rate has been published on January 13 and January 15, 2026, respectively. Out of the total 26,752 students in the CFA Level 1 November 2025 exam, 503 passed, while the remaining 15,249 failed. Earlier, the CFA Level 3 pass rate Aug 2025 was published on October 23, 2025. The pass rate for the CFA Level 3 August 2025 session was 50%. This indicates there was an increase of 1% in the pass rate compared to the previous session.

    CFA Pass Percentage In India for Level 1, 2, 3
    CFA Pass Percentage

    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

    OverallLevel 1

    Level 2

    Level 3
    November 2025TBA43%42%-
    August 2025TBA43%44%50%
    May 2025-45%54%-
    February 2025-45%TBA49%
    Nov 2024-43%39%-
    Aug 202444%44%47%48%
    May 202451%46%59%-
    February 202446%44%-49%
    November 2023-35%45%-
    August 202342%37%44%47%
    May 202344%39%52%-
    February 202343%38%
    48%
    November 202238%36%44%-
    August 202241%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 May 2025 is 45%. 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 CandidatesFailed CandidatesPass percentage
    November 202526,75211,50315,24943%
    August 202526,19211,26214,93043%
    May 202524,22710,91613,31145%
    February 22519,8488,93510,91345%
    November 202426,40411,29315,11143%
    August 202424,93711,05013,88744%
    May 20242111696661145046%
    February 2024169327415951744%
    November 202328,95310,10418,84935%
    August 20232328987131457637%
    May 20232335290421431039%
    February 20231695964411051838%
    November 20222493789321600536%
    August 20221910370321207137%

    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

    November 2025TBATBATBA42%
    August 202598084359553944%
    May 202515,0008,0626,93254%
    November 202413,5895,3248,26539%
    August 20248,8724,1644,70847%
    May 2024143048386591859%
    November 202314,5856,3778,20844%
    August 202390743999507544%
    May 202315858291760452%
    November 2022123135382693144%
    August 2022156086317929140%

    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 will released the CFA Level 3 pass percentage for August 2025 along with the results tentatively on October 23, 2025. According to the latest available data, the pass rate of CFA level 3 for Feb 2025 was 49%. 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

    August 202514,538
    7,247
    7,291
    50%
    February 202511,1315,4415,69049%
    August 202416,9478,0818,86648%
    February 2024136196734688549%
    August 2023160357585845047%
    February 2023148587102775648%
    August 2022103765032534448%

    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)

    Q: What is the average passing percentage for CFA?
    A:

    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.

    Q: Does the CFA institute publish historical pass percentage for CFA Level 1, Level 2 and Level 3?
    A:

    Yes, the CFA institute publishes historical pass percentage for all the three levels of CFA.

    Q: What was the pass percentage for CFA level 1 exam for November 2025?
    A:

    The pass rate for the CFA level 1 exam for November 2025 is 43%.

    Q: How can we check CFA results?
    A:

    CFA result is available on the official website- www.cfainsistute.org.

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