CFA Exam 2026: The Chartered Financial Analyst Institute has opened the CFA Level 1 May 2026 registration till February 12, 2026. Similarly, CFA Level 2 May 2026 registration window is open till Feb 12, 2026, while CFA Level 3 August 2026 registration window is open till May 6, 2026. Candidates can register for all the three CFA levels online from the official website - cfainstitute.org. CFA Level 1 May 2026 exams are scheduled to be held from May 12 to 18, 2026, while CFA Level 3 exams will be conducted from August 13 to 17, 2026. The CFA Level 2 May 2026 exams will be held from May 19 to 23, 2026.
The CFA level 1 registrations and CFA level II registration are open all throughout the year. The CFA institute conducts CFA exams throughout the year in different windows for all the three levels. The CFA exams are held in online mode. The institute announces the CFA exam dates on its official website - CFA level 1 exams are conducted three times a year in May, August, November. CFA level 2 exams are conducted three times a year in May, August, and November. CFA level 3 exams are conducted twice year in the months of February and August.
Around 40,000 candidates appear in CFA from India every year according to the institute. Registrations for CFA course remain open throughout the year, however, candidates are required to schedule their test only after completing the required hours of study.
The Chartered Financial Analyst (CFA) program is offered by the CFA Institute for students and working professionals interested in the investment management profession. The CFA programme is divided into three levels - CFA Level 1, CFA Level 2 and CFA Level 3. CFA Institute conducts separate exams for the three levels in different time windows, multiple times a year. The exams are conducted in online mode at designated exam centres. Aspiring candidates who meet the eligibility requirements must complete CFA online registration and schedule their exams before the deadline to appear for a particular level. The CFA exam results are typically announced five to seven weeks after the exam.
Each level of CFA has certain subjects that candidates need to study. Each level of the CFA program focuses on investment tools, wealth planning, portfolio management and asset valuation. Usually, students are recommended to give at least 300 hours to each level of the CFA program. Candidates who complete the CFA course and meet the 4,000 hours of work experience requirement can join the institute as a regular member. On completion, the charter holders get the right to use the CFA designation and are accepted by the CFA Institute.
CFA Charterholders can apply to work in senior and executive positions in the areas of investment management, asset and risk management, and banking sectors.
| Particulars | CFA Level 1 | CFA Level 2 | CFA Level 3 |
|---|---|---|---|
| Frequency of exams | Three times a year | Three times in a year | Twice a year |
| Eligibility | Meet the CFA eligibility requirements | Pass Level I CFA exam | Pass Level II CFA exam |
| Question types | MCQs only | Vignette-supported MCQs | Descriptive-type essay questions and MCQs |
| Availability of result | 60 days after exam | 60 days after exam | 90 days after exam |
| 10-year average pass percentage | 41% | 45% | 52% |
Becoming a CFA Charterholder can be a defining moment for a finance professional given the value and importance of CFA. Here is a detailed look into the steps to become a CFA charter holder.
The CFA course fees includes various components such as enrolment fee, registration fee, rescheduling fee and The total cost of CFA course is around 3.80 lakhs. This does not include study material costs. Candidates can also purchase study materials provided by the institute. The CFA Intitute provides an exam prep pack for CFA level 1 which costs USD 299. The CFA Institute also partners with exam prep providers to provide training learning resources to students.
| Fee Component | CFA level 1 | CFA level 2 | CFA level 3 |
|---|---|---|---|
| Enrolment fee | USD 350 | Nil | Nil |
| Early registration fee | USD 1140 | USD 1140 | USD 1240 |
| Standard registration fee | USD 1490 | USD 1490 | USD 1590 |
| Exam scheduling fee | Nil | Nil | Nil |
| Exam rescheduling fee | USD 250 | USD 250 | USD 250 |
| CFA Year | Total candidates | Pass % | Total | CFA level 1 | CFA level 2 | CFA level 3 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total | Pass | Fail | Pass % | Total | Pass | Fail | Pass % | Total | Pass | Fail | Pass % | ||||
| 1963 | 284 | 94% | - | - | - | 0% | - | - | - | 0% | 284 | 268 | 16 | 94% | |
| 1964 | 1,732 | 84% | 1,241 | 986 | 255 | 79% | 302 | 283 | 19 | 94% | 189 | 179 | 10 | 95% | |
| 1965 | 1,993 | 83% | 767 | 649 | 118 | 85% | 865 | 678 | 187 | 78% | 361 | 329 | 32 | 91% | |
| 1966 | 2,010 | 75% | 621 | 481 | 140 | 77% | 708 | 469 | 239 | 66% | 681 | 563 | 118 | 83% | |
| 1967 | 1,693 | 83% | 594 | 423 | 171 | 71% | 556 | 496 | 60 | 89% | 543 | 491 | 52 | 90% | |
| 1968 | 1,579 | 73% | 592 | 412 | 180 | 70% | 447 | 334 | 113 | 75% | 540 | 414 | 126 | 77% | |
| 1969 | 1,316 | 74% | 556 | 409 | 147 | 74% | 413 | 322 | 91 | 78% | 347 | 237 | 110 | 68% | |
| 1970 | 1,409 | 67% | 644 | 424 | 220 | 66% | 372 | 285 | 87 | 77% | 393 | 238 | 155 | 61% | |
| 1971 | 1,458 | 69% | 755 | 464 | 291 | 61% | 341 | 253 | 88 | 74% | 362 | 288 | 74 | 80% | |
| 1972 | 1,486 | 70% | 731 | 466 | 265 | 64% | 461 | 354 | 107 | 77% | 294 | 214 | 80 | 73% | |
| 1973 | 1,630 | 60% | 721 | 432 | 289 | 60% | 565 | 324 | 241 | 57% | 344 | 222 | 122 | 65% | |
| 1974 | 1,797 | 74% | 862 | 604 | 258 | 70% | 511 | 377 | 134 | 74% | 424 | 355 | 69 | 84% | |
| 1975 | 1,841 | 75% | 808 | 568 | 240 | 70% | 563 | 421 | 142 | 75% | 470 | 393 | 77 | 84% | |
| 1976 | 1,706 | 76% | 634 | 457 | 177 | 72% | 641 | 477 | 164 | 74% | 431 | 363 | 68 | 84% | |
| 1977 | 1,993 | 74% | 667 | 421 | 246 | 63% | 632 | 510 | 122 | 81% | 694 | 540 | 154 | 78% | |
| 1978 | 2,008 | 73% | 925 | 596 | 329 | 64% | 444 | 379 | 65 | 85% | 639 | 481 | 158 | 75% | |
| 1979 | 1,876 | 76% | 824 | 522 | 302 | 63% | 550 | 460 | 90 | 84% | 502 | 441 | 61 | 88% | |
| 1980 | 1,985 | 73% | 949 | 602 | 347 | 63% | 528 | 407 | 121 | 77% | 508 | 437 | 71 | 86% | |
| 1981 | 2,253 | 71% | 1,107 | 677 | 430 | 61% | 684 | 580 | 104 | 85% | 462 | 340 | 122 | 74% | |
| 1982 | 2,886 | 64% | 1,532 | 903 | 629 | 59% | 714 | 489 | 225 | 68% | 640 | 469 | 171 | 73% | |
| 1983 | 3,243 | 65% | 1,655 | 1,082 | 573 | 65% | 978 | 637 | 341 | 65% | 610 | 392 | 218 | 64% | |
| 1984 | 4,030 | 63% | 2,075 | 1,199 | 876 | 58% | 1,147 | 701 | 446 | 61% | 808 | 658 | 150 | 81% | |
| 1985 | 4,285 | 67% | 2,186 | 1,317 | 869 | 60% | 1,309 | 965 | 344 | 74% | 790 | 579 | 211 | 73% | |
| 1986 | 4,837 | 65% | 2,366 | 1,405 | 961 | 59% | 1,379 | 884 | 495 | 64% | 1,092 | 845 | 247 | 77% | |
| 1987 | 5,702 | 62% | 3,095 | 1,782 | 1,313 | 58% | 1,555 | 995 | 560 | 64% | 1,052 | 755 | 297 | 72% | |
| 1988 | 7,091 | 59% | 3,927 | 2,174 | 1,753 | 55% | 1,946 | 1,163 | 783 | 60% | 1,218 | 864 | 354 | 71% | |
| 1989 | 8,064 | 62% | 4,149 | 2,237 | 1,912 | 54% | 2,484 | 1,590 | 894 | 64% | 1,431 | 1,133 | 298 | 79% | |
| 1990 | 8,760 | 64% | 4,415 | 2,658 | 1,757 | 60% | 2,522 | 1,594 | 928 | 63% | 1,823 | 1,360 | 463 | 75% | |
| 1991 | 9,868 | 62% | 4,950 | 3,087 | 1,863 | 62% | 3,002 | 1,618 | 1,384 | 54% | 1,916 | 1,436 | 480 | 75% | |
| 1992 | 10,518 | 65% | 5,002 | 2,928 | 2,074 | 59% | 3,503 | 2,258 | 1,245 | 64% | 2,013 | 1,658 | 355 | 82% | |
| 1993 | 12,809 | 59% | 6,588 | 3,616 | 2,972 | 55% | 3,679 | 2,061 | 1,618 | 56% | 2,542 | 1,936 | 606 | 76% | |
| 1994 | 15,413 | 52% | 8,445 | 4,087 | 4,358 | 48% | 4,418 | 2,109 | 2,309 | 48% | 2,550 | 1,859 | 691 | 73% | |
| 1995 | 19,517 | 52% | 11,341 | 5,750 | 5,591 | 51% | 5,518 | 2,535 | 2,983 | 46% | 2,658 | 1,860 | 798 | 70% | |
| 1996 | 24,600 | 58% | 14,381 | 7,627 | 6,754 | 53% | 7,098 | 4,596 | 2,502 | 65% | 3,121 | 1,999 | 1,122 | 64% | |
| 1997 | 30,642 | 55% | 16,833 | 8,847 | 7,986 | 53% | 8,493 | 5,011 | 3,482 | 59% | 5,316 | 3,119 | 2,197 | 59% | |
| 1998 | 38,689 | 60% | 21,744 | 12,855 | 8,889 | 59% | 10,295 | 6,433 | 3,862 | 62% | 6,650 | 3,895 | 2,755 | 59% | |
| 1999 | 45,143 | 60% | 23,199 | 14,757 | 8,442 | 64% | 13,496 | 7,329 | 6,167 | 54% | 8,448 | 5,015 | 3,433 | 59% | |
| 2000 | 53,345 | 55% | 27,625 | 14,314 | 13,311 | 52% | 16,036 | 8,636 | 7,400 | 54% | 9,684 | 6,274 | 3,410 | 65% | |
| 2001 | 65,707 | 54% | 36,317 | 17,726 | 18,591 | 49% | 17,897 | 8,322 | 9,575 | 46% | 11,493 | 9,410 | 2,083 | 82% | |
| 2002 | 76,231 | 47% | 43,882 | 19,106 | 24,776 | 44% | 22,163 | 10,418 | 11,745 | 47% | 10,186 | 5,924 | 4,262 | 58% | |
| 2003A | 67,279 | 49% | 32,027 | 13,478 | 18,549 | 42% | 22,232 | 10,432 | 11,800 | 47% | 13,020 | 8,816 | 4,204 | 68% | |
| 2003B | 20,657 | 40% | 20,657 | 8,214 | 12,443 | 40% | - | ||||||||
| 2004A | 61,559 | 40% | 24,211 | 8,262 | 15,949 | 34% | 23,896 | 7,649 | 16,247 | 32% | 13,452 | 8,669 | 4,783 | 64% | |
| 2004B | 19,566 | 36% | 19,566 | 7,128 | 12,438 | 36% | - | ||||||||
| 2005A | 58,908 | 48% | 22,915 | 8,138 | 14,777 | 36% | 24,891 | 13,938 | 10,953 | 56% | 11,102 | 6,083 | 5,019 | 55% | |
| 2005B | 21,127 | 34% | 21,127 | 7,276 | 13,851 | 34% | - | ||||||||
| 2006A | 63,249 | 52% | 26,467 | 10,602 | 15,865 | 40% | 20,499 | 9,751 | 10,748 | 48% | 16,283 | 12,314 | 3,969 | 76% | |
| 2006B | 28,082 | 39% | 28,082 | 10,905 | 17,177 | 39% | - | ||||||||
| 2007A | 71,897 | 42% | 33,599 | 13,294 | 20,305 | 40% | 25,521 | 10,156 | 15,365 | 40% | 12,777 | 6,399 | 6,378 | 50% | |
| 2007B | 37,573 | 39% | 37,573 | 14,831 | 22,742 | 39% | - | ||||||||
| 2008A | 92,081 | 42% | 44,063 | 15,311 | 28,752 | 35% | 33,449 | 15,243 | 18,206 | 46% | 14,569 | 7,720 | 6,849 | 53% | |
| 2008B | 49,797 | 35% | 49,797 | 17,612 | 32,185 | 35% | - | ||||||||
| 2009A | 104,116 | 45% | 45,682 | 21,034 | 24,648 | 46% | 38,998 | 15,892 | 23,106 | 41% | 19,436 | 9,597 | 9,839 | 49% | |
| 2009B | 44,209 | 34% | 44,209 | 14,884 | 29,325 | 34% | - | ||||||||
| 2010A | 111,731 | 42% | 46,863 | 19,656 | 27,207 | 42% | 43,406 | 16,995 | 26,411 | 39% | 21,462 | 9,881 | 11,581 | 46% | |
| 2010B | 46,785 | 36% | 46,785 | 17,009 | 29,776 | 36% | - | ||||||||
| 2011A | 115,027 | 43% | 48,068 | 18,881 | 29,187 | 39% | 44,175 | 19,009 | 25,166 | 43% | 22,784 | 11,567 | 11,217 | 51% | |
| 2011B | 49,380 | 38% | 49,380 | 18,736 | 30,644 | 38% | - | ||||||||
| 2012A | 119,446 | 43% | 49,445 | 18,968 | 30,477 | 38% | 45,247 | 19,194 | 26,053 | 42% | 24,754 | 12,870 | 11,884 | 52% | |
| 2012B | 48,981 | 37% | 48,981 | 18,106 | 30,875 | 37% | - | ||||||||
| 2013A | 118,142 | 42% | 47,502 | 18,078 | 29,424 | 38% | 44,874 | 19,311 | 25,563 | 43% | 25,766 | 12,607 | 13,159 | 49% | |
| 2013B | 45,693 | 43% | 45,693 | 19,469 | 26,224 | 43% | - | ||||||||
| 2014A | 118,683 | 46% | 47,005 | 19,592 | 27,413 | 42% | 44,796 | 20,644 | 24,152 | 46% | 26,882 | 14,535 | 12,347 | 54% | |
| 2014B | 47,175 | 44% | 47,175 | 20,589 | 26,586 | 44% | - | ||||||||
| 2015A | 125,443 | 46% | 51,134 | 21,303 | 29,831 | 42% | 46,841 | 21,509 | 25,332 | 46% | 27,468 | 14,664 | 12,804 | 53% | |
| 2015B | 52,315 | 43% | 52,315 | 22,274 | 30,041 | 43% | - | ||||||||
| 2016A | 137,791 | 46% | 58,677 | 25,093 | 33,584 | 43% | 50,230 | 23,321 | 26,909 | 46% | 28,884 | 15,606 | 13,278 | 54% | |
| 2016B | 59,627 | 43% | 59,627 | 25,807 | 33,820 | 43% | - | ||||||||
| 2017A | 151,853 | 47% | 63,283 | 27,158 | 36,125 | 43% | 56,939 | 26,919 | 30,020 | 47% | 31,631 | 17,173 | 14,458 | 54% | |
| 2017B | 68,086 | 43% | 68,086 | 29,583 | 38,503 | 43% | - | ||||||||
| 2018A | 179,241 | 46% | 79,507 | 34,547 | 44,960 | 43% | 64,216 | 28,872 | 35,344 | 45% | 35,518 | 19,920 | 15,598 | 56% | |
| 2018B | 77,245 | 45% | 77,245 | 34,651 | 42,594 | 45% | - | ||||||||
| 2019A | 196,768 | 45% | 83,656 | 34,585 | 49,071 | 41% | 74,735 | 32,954 | 41,781 | 44% | 38,377 | 21,380 | 16,997 | 56% | |
| 2019B | 73,688 | 42% | 73,688 | 30,628 | 43,060 | 42% | - | ||||||||
| 2020B | 55,678 | 52% | 26,212 | 12,806 | 13,406 | 49% | 18,136 | 10,025 | 8,111 | 55% | 11,330 | 6,290 | 5,040 | 56% | |
| 2021 February | 28,683 | 44% | 28,683 | 12,510 | 16,173 | 44% | - | ||||||||
| 2021 May | 80,674 | 36% | 26,005 | 6,506 | 19,499 | 25% | 33,066 | 13,300 | 19,766 | 40% | 21,603 | 9,088 | 12,515 | 42% | |
| 2021 July | 28,849 | 22% | 28,849 | 6,468 | 22,381 | 22% | - | ||||||||
| 2021 August | 29,360 | 29% | 16,026 | 4,211 | 11,815 | 26% | 10,565 | 3,064 | 7,501 | 29% | 2,769 | 1,169 | 1,600 | 42% | |
| 2021 November | 62,403 | 37% | 28,170 | 7,607 | 20,563 | 27% | 18,047 | 8,290 | 9,757 | 46% | 16,186 | 6,989 | 9,197 | 43% | |
| 2022 February | 30,691 | 39% | 18,992 | 6,801 | 12,191 | 36% | 11,699 | 5,132 | 6,567 | 44% | - | ||||
| 2022 May | 31,787 | 42% | 19,403 | 7,315 | 12,088 | 38% | - | 12,384 | 6,047 | 6,337 | 49% | ||||
| 2022 August | 45,087 | 41% | 19,103 | 7,032 | 12,071 | 37% | 15,608 | 6,317 | 9,291 | 40% | 10,376 | 5,032 | 5,344 | 48% | |
| 2022 November | 37,250 | 38% | 24,937 | 8,932 | 16,005 | 36% | 12,313 | 5,382 | 6,931 | 44% | - | ||||
| 2023 February | 31,817 | 43% | 16,959 | 6,441 | 10,518 | 38% | - | 14,858 | 7,102 | 7,756 | 48% | ||||
| 2023 May | 39,247 | 44% | 23,352 | 9,042 | 14,310 | 39% | 15,895 | 8,291 | 7,604 | 52% | - | ||||
| 2023 August | 48,398 | 42% | 23,289 | 8,713 | 14,576 | 37% | 9,074 | 3,999 | 5,075 | 44% | 16,035 | 7,585 | 8,450 | 47% | |
| 2023 November | 43,538 | 38% | 28,953 | 10,104 | 18,849 | 35% | 14,585 | 6,377 | 8,208 | 44% | - | ||||
| 2024 February | 30,551 | 46% | 16,932 | 7,415 | 9,517 | 44% | - | 13,619 | 6,734 | 6,885 | 49% | ||||
| May 2024 | 35420 | 51% | 21116 | 9666 | 11450 | 46% | 14304 | 8386 | 5918 | 59% | |||||
| 1963-2024 | 3,790,642 | 45% | 2,199,660 | 906,635 | 1,293,025 | 41% | 1,003,148 | 459,719 | 543,429 | 46% | 587,834 | 324,070 | 263,764 | 55% | |
| Full Exam Name | Chartered Financial Analyst Exam |
| Short Exam Name | CFA Exam |
| Conducting Body | CFA Institute |
| Exam Level | National Level Exam |
| Languages | English |
| Mode Of Application | offline +1 more |
| Mode Of Exam | online |
CFA Exam Level 1 (session 2026)
CFA Exam Level 2 (session 2026)
CFA Exam Level 3 (session 2026)
As the commencing step of the CFA course, candidates need to meet the eligibility criteria of the first level in order to register themselves for this exam. Some of the major prerequisites for CFA level 1 exam are:
Candidates should properly check the CFA level 2 eligibility criteria before registering themselves for the exam. Listed below are the prerequisites to appear for the CFA Level 2 exam:
The candidates must hold a Bachelor's degree or equivalent from a recognized university or an Institute.
Candidates must have a valid international travel passport.
Candidates must submit a “Professional Conduct Statement Form”.
Candidates must have a combination of 4000 hours of work experience and/ or higher education. Dates of professional work experience and education should not be overlapping.
Candidates before registering for CFA level 3 exams should know about the eligibility criteria to enroll in the programme. The eligibility requirements for CFA level 3 2025 has been given below:
Candidates should have passed both CFA level 1 and CFA level 2 before CFA level 3 registration
Candidates should have a bachelor’s degree from any recognized university/ college
Should have a combination of higher education (acquired in at least 4 years) and/or work experience (4000 hours)
A valid international passport is mandatory
Proficiency in English
The Chartered Financial Analyst Institute keeps the CFA registration window open throughout the year. Candidates can register for the CFA course online from its official website - cfainstitute.org. Candidates must check theCFA registration window dates from the official website. The CFA level 1 exams are held three times - in May, August, and November. The CFA level 2 exams are held three times in May, August and November. The CFA level 3 exams are held twice in August and November.
Candidates to appear for the exams must fill out the application forms before the last date. Steps to complete the application process is given below:
Login to CFA Institute’s official website
Select level of CFA exam and proceed further
Now fill all the details in the registration form
Select the location of your employer, or occupation, or level of education.
Lastly, pay the required fees to complete the application process
| State | City |
| Gujarat | Ahmedabad Surat |
| Rajasthan | Jaipur |
| Karnataka | Bangalore |
| West Bengal | Kolkata Calcutta |
| Madhya Pradesh | Bhopal Indore |
| Uttar Pradesh | Lucknow Noida |
| Kerala | Kochi |
| Tamil Nadu | Chennai Coimbatore |
| Telangana | Hyderabad |
| Maharashtra | Mumbai City Pune Mumbai Nagpur |
| Assam | Guwahati |
| Odisha | Bhubaneshwar |
| Chandigarh | Chandigarh |
| Delhi | New Delhi |
| Punjab | Chandigarh |
| Chhattisgarh | Raipur |
| Jharkhand | Ranchi |
| Andhra Pradesh | Visakhapatnam Visakhapatnam(Vizag) |
CFA aspirants must be acquainted with the CFA exam pattern as it will give them useful insights on how the exam will be conducted. Candidates registering for the CFA Level 1 exam can check the given table to have a better understanding of the CFA exam pattern:
Particulars | Details |
Frequency of the exam | Four times - February, May, August, and November |
Exam level | Post graduate |
Question format | Multiple choice questions |
No. of questions asked | Total 180 MCQs Session 1 - 90 MCQs Session 2 - 90 MCQs |
Time duration of CFA® Level 1 exam | Total 4.5 hours |
Sessions | Split into two sessions - each of 2 hours, 15 minutes |
Medium of exam | English |
Marking scheme | No negative markings |
Before starting the preparation for CFA Level 2 exam, candidates must check the exam pattern and then formulate their study plan accordingly. The exam pattern for CFA level 2 exams has been given below:
CFA level 2 2023 exam pattern
Particulars | Details |
Frequency of the exam | Thrice - February, August and November |
Exam level | Postgraduate |
Question format | Vignette-supported multiple-choice questions |
No. of questions asked | 88 |
Time duration of CFA® Level 2 exam | 4 hours and 24 minutes (will be divided in two sessions) |
Sessions | 2 hours and 12 minutes (each) |
Medium of exam | English |
Marking scheme | Each question is worth 3 points |
The exam pattern guide candidates on major CFA level 3 exam details such as how the exam will be conducted, number of questions asked, overall time duration of CFA Level 3 exam, marking scheme etc., By knowing these details, candidates can devise a proper preparation strategy and score good marks.
Exam pattern CFA level 2
Particulars | Details |
Frequency of the exam | Twice - May and August |
Exam level | Postgraduate |
Question format | Vignette-supported Easy questions Multiple choice questions |
Time duration of CFA® Level 3 exam | 4 hours and 24 minutes |
Sessions (2) | 2 hours and 12 minutes (each) |
Medium of exam | English |
Marking scheme | Each question is worth 3 points |
Marking scheme | Each question is worth 3 points |
CFA Prep providers offer candidates a wide variety of learning services including, video content, summarized curriculum, updated printed versions of the curriculum, and more. CFA Institute also releases its own practice packs that comprise past session papers. These practice papers are chargeable and there are different price points for CFA levels. CFA Institute also releases a list of CFA Prep Providers, which candidates can consider for their exam preparation. Only those prep providers listed on the CFA's website are permitted to use the Learning Outcome Statements (LOS). Some of the prep providers listed on the website of CFA Institute are given below:
CFA Institute releases different types of practice questions to help students with their preparation. Students can take help of the CFA practice questions pack to evaluate their topic wise strengths and weaknesses. CFA practice questions are prepared from the curriculum of each level. The questions are also in the same format as the actual exam. CFA also offers a paid Practice pack for students to assist their preparations for each of the CFA levels.
Apart from the practice questions, CFA Institute also releases the CFA mock exam for students. The mock exams of CFA Level 1, 2 and 3 have been designed to help students understand the timing and structure of the actual exam. The CFA mock exam 2023 will give students the look and feel of the real exams. Each of the CFA mock exam will carry the same topic-wise weightage and level of difficulty as the actual exam.
The CFA Institute Learning Ecosystem is a customized online learning program that helps students in 'engaging, efficient and effective' preparation. The learning ecosystem of CFA Institute comprises of various learning resources for students preparing for the exams. As part of the CFA Learning Ecosystem, candidates get access to the CFA Practice Pack. The CFA Level 1 Practice Pack will comprise of the following things:
The Chartered Financial Analyst (CFA) will release the admit card for CFA Level 1 exam to successfully registered candidates on their official website cfainstitute.org. The candidates will be notified on their registered email address or mobile number whenever the ticket is released. The candidates need to register themselves on the official website and then log in to download their CFA Level 1 Admission Ticket. Before viewing their tickets, the candidates are asked to read and agree to conditions, requirements, policies, and procedures of the exam. The admit card of CFA Level 1 is necessary for permission of entry into their respective exam centre.
The Chartered Financial Analyst® Institute releases the CFA Level 2 Admission Ticket on its official website 60 days before the CFA Level 2 exam. Candidates can follow the below mentioned steps to download the admit card for CFA level 2 exams:
Visit the official website of CFA institute
Click on the 'Login' button
Enter the login credentials, i.e. Email ID and Password
The admit card will appear on the screen
Candidates must download and take a printout of the same for future use
The CFA Institute issues the admit card for CFA level 3 exams on the official website. Candidates can access their admit card by logging in with their email ID and password. Follow the steps mentioned below to know how to download the CFA 2025 level 3 exams admit card:
Visit the official website of CFA institute
Click on the 'Login' button
Enter the login credentials, i.e. Email ID and Password
The admit card will appear on the screen
Candidates must download and take a printout of the same for future use
Candidates to prepare for CFA level 1 exam must dedicate approximately 303 hours of study. They should divide their time carefully to cover all the 10 topics of the curriculum before the CFA level 1 exam date. Candidates should have intense dedication and an effective study plan to pass the CFA level 1 exam. Some of the preparation tips for level 1 exam are:
Prepare well using the calculators to avoid last minute confusion.
Try to answer all the questions as there is no negative marking for wrong answers.
Understand the questions carefully, as if the question is based on U.S.GAAP, it will be stated in the question.
Candidates need to put a lot of hard work and dedication to clear CFA Level 2 exam. Listed below are some of the tips and tricks candidates can follow to crack the exam:
Practice difficult questions and topics first as its difficulty level is high.
Candidates should increase their reading speed. The case studies questions can be of 1 or 2 pages and to sort the relevant points candidates should read it fast.
Understand the weightage of marks for each topic and then focus on topics having more weight.
Practice mock papers to increase speed and accuracy.
Candidates after clearing CFA level 1 and level 2 exams must focus more on CFA level 3 exams. They can follow the simple tips given below to crack the CFA level 3 exam 2025:
Appear for mock tests to get practice for CFA level 3 exam before the exam day.
Answer all questions as there is no negative marking for wrong answers.
Be comfortable with your calculators.
Review the CFA exam calendar for key dates and to meet pre-exam deadlines
Learn to use the hardware/software before the exam to get a good experience on exam day.
The CFA Institute declares CFA Level 1 results 2026 around 45 days after the date of exam. Level I CFA candidates are provided with a "pass" or "did not pass" message via email on the result date. The email will include the percentage of students who passed, and it will also provide a link to the detailed information on the candidate's performance. The results will also be available on the CFA Institute website. Candidates can expect the CFA level 1 exam results within 60 days of the exam.
CFA Institute releases the pass percentage after each exam window is conducted successfully. After each session of February, May, August and November exams, the subsequent pass percentage is declared along with the results. The table below shows pass percentage for consecutive sessions for previous years.
| Session | Total Candidates | Passed Candidates | Failed Candidates | Pass Percentage |
|---|---|---|---|---|
| February 2024 | 16932 | 7415 | 9517 | 44% |
| November 2023 | 28953 | 10104 | 18849 | 35% |
| August 2023 | 23,289 | 8,713 | 14,576 | 37% |
| May 2023 | 23,352 | 9,042 | 14,310 | 39% |
| February 2023 | 16,959 | 6,441 | 10,518 | 38% |
| November 2022 | 24,937 | 8,932 | 16,005 | 36% |
| August 2022 | 19,103 | 7,032 | 12,071 | 37% |
| May 2022 | 19,403 | 7,31 | 12,088 | 38% |
February 2022 | 18992 | 6801 | 12191 | 36% |
November 2021 | 28170 | 7607 | 20563 | 27% |
August 2021 | 16026 | 4211 | 11815 | 26% |
July 2021 | 28849 | 6468 | 22381 | 22% |
May 2021 | 26005 | 6506 | 19499 | 25% |
February 2021 | 28683 | 12510 | 16173 | 44% |
2020 | 26212 | 12806 | 13406 | 49% |
June 2019 | 83656 | 34585 | 49071 | 41% |
The Chartered Financial Analyst (CFA) Institute declares the CFA Level 2 result 2026 tentatively 45 days after the conclusion of the exams. It releases the result within 60 days after conducting the CFA level 2 exams. The result can be checked by candidates on the official website by logging into their CFA account. The CFA Institute also provides the results to candidates on their registered email address and phone number.
The pass rate of CFA level II exams for November 2023 was 44 percent. The candidate may look at the pass rates from previous years to get a sense of the exam's complexity and competition and prepare accordingly.
| Session | Total no. of candidates appeared for the exam | Candidates passed | Candidates failed | Pass rate |
|---|---|---|---|---|
| May 2024 | Will be updated | Will be updated | Will be updated | Will be updated |
| November 2023 | 14585 | 6377 | 8208 | 44% |
| August 2023 | 9,074 | 3,999 | 5,074 | 44% |
| May 2023 | 15,985 | 8,291 | 7,604 | 52% |
| November 2022 | 12,313 | 5,382 | 6,931 | 44% |
| August 2022 | 15,608 | 6,317 | 9,291 | 40% |
February 2022 | 11699 | 5132 | 6567 | 44% |
November 2021 | 18047 | 8290 | 9757 | 46% |
August 2021 | 10565 | 3064 | 7501 | 29% |
May 2021 | 33066 | 13300 | 19766 | 40% |
2020 | 18136 | 10025 | 8111 | 55% |
2019 | 74735 | 32954 | 41781 | 44% |
2018 | 64216 | 28872 | 35344 | 45% |
2017 | 56939 | 26919 | 30020 | 47% |
The CFA institute will declare the upcoming CFA level 3 2025 results tenatively 45 days after the exam. The result for Charted Financial Analyst (CFA) is graded as “pass” or “fail” along with their topic-wise performance. The CFA Institute also sends the CFA Level 3 result on the student’s registered email address. Candidates who pass the CFA level 2 exam automatically advance to the CFA level 3. Candidates can check their official result on the official website by following the steps given below:
Step 1- Visit the official website www.cfainsistute.org
Step 2- Click on the available result link
Step 3- Select the CFA level 3 course
Step 4- Login with valid credentials- email id and password when the result page appears on the screen
Step 5- Click on the download result CFA level 3 tab and the main result will appear on the screen.
Step 6- The candidate can download the result and take a printout for future reference.
Candidates can look at the following years pass rates to understand the difficulty of the exam and the competition and prepare well.
| Session | Total no. of students appeared | Candidates passed | Candidates failed | Passing rate |
|---|---|---|---|---|
| February 2024 | 13619 | 6734 | 6885 | 49% |
| August 2023 | 16035 | 7585 | 8450 | 47% |
| February 2023 | 14,858 | 7,102 | 7,756 | 48% |
| May 2022 | 12,384 | 6,047 | 6,337 | 49% |
November 2021 | 16186 | 6989 | 9197 | 43% |
August 2021 | 2769 | 1091 | 1678 | 39% |
May 2021 | 21603 | 9088 | 12515 | 42% |
2020 | 11330 | 6290 | 5040 | 56% |
2019 | 38377 | 21380 | 16997 | 56% |
2018 | 35518 | 19920 | 15598 | 56% |
2017 | 31631 | 17173 | 14458 | 54% |
2016 | 28884 | 15606 | 13278 | 54% |
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Frequently Asked Questions (FAQs)
The full form of CFA is Chartered Financial Analyst. It is a three part programme that tests the fundamentals of investment tools, valuing assets, portfolio management, and wealth planning.
A Chartered Financial Analyst (CFA®) charter is a designation offered to those candidates who have successfully completed the CFA® Program and also completed the work experience requirements.
The average pass rates in CFA for all the three levels combined is 45%. The pass rate for CFA level 1 is 41% while CFA level 2 pass rate is 46%. The CFA level 3 pass rate is 55%.
The CFA level 1 and 2 results are are released 60 days after the exam. Whereas, CFA level 3 results are declared 90 days after conducting the examination.
The CFA level 1 exams are conducted four times a year in February, May, August, and November.
CFA level 2 exams are conducted thrice a year in May, August, and November.
CFA level 3 exams are conducted twice a year in February and August.
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Application Date
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On Question asked by student community
Well I think you forgot to mention the important part. Which is whats the goal. Exposure is a wide Answer. All are professional qualifications which give you professional experience. And the same ICWAI that you pursued also gave you professional exposure. But if my guess is that you want to
Hi,
Try preparing smartly and efficiently.
Hello Sumit,
CFA exam centres are only in 7 cities in India and Pune is not one of them, however, Mumbai has centre for this exam.
In Mumbai, the exam centre is Thakur college in Kandivali east.
Sometimes when the candidates are too many, the other centres may be Nesco
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