Exam Results

CFA Result 2018 for exam held in June and December is e-mailed to the candidates. The result of CFA 2018 indicates whether candidate meets minimum passing score or not. On declaration of CFA Result the status of Pass or Did Not Pass is shown. Topic area performance summary in CFA Level I, II, III Result will also highlighting areas of strengths and weaknesses. In case of Level III candidates, topic area performance are presented separately for essay and item set. Candidates who will not pass will be divided into score bands which will also be conveyed in the result. Get here CFA 2018 Result and related details such as performance report, band, etc.

Latest: Level III exam results are being emailed to candidates on August 28, 2018, after 9:00 a.m.

CFA Result 2018

Details regarding CFA is announced at www.cfainstitute.org. However, the result of CFA is e-mailed to the candidates. The direct link to check the CFA Result 2018 will also be provided here. Candidates can check the result declaration schedule from the table given below:

 Event CFA June Level 3 CFA December Level 1 CFA June Level 1, 2
Date of Exam 23 Jun 2018 01 Dec 2018 23 Jun 2018
CFA 2018 Result 28 Aug 2018 January 2019  14 Aug 2018

Result: Details about the CFA Result 2018 are available at official website www.cfainstitute.org.

 Significance of CFA Results

  • CFA Level 1 Result 2018 – Level 1 tests candidates on knowledge of ethical and professional standards. The result of CFA Level 1 2018 indicates whether passed or not. If passed, then the candidate can start preparing for Level 2.
  • CFA Level 2 Result 2018 – A pass in Level 2 makes one eligible for Level 3 exam of CFA Institute. It indicates knowledge in asset valuation, application, and analysis.
  • CFA Level 3 Result 2018 – Clearing CFA Level 3 is passing its final exam. CFA Charterholder is ready to face professions such as relationship manager, corporate financial analyst, financial overseer, financial adviser, portfolio manager, risk manager, consultant, chief level executive, research analyst.

Understand CFA Exam Result

Minimum Passing Score

CFA Institute Board of Governors set minimum passing score for each level. This ensures fairness for candidates as it looks into difficulty level every time. MPS data is not revealed.

Topic Area Performance Summary

The summary shows topics covered in the exam and what maximum points could be earned in it. Then it indicates score range (≤50%, 51%–70%, or >70%) in which candidate’s score falls.

Score Bands

Did not pass candidates are divided into 10 approximately score bands. A score band of 1 indicates performance in the bottom 10% (furthest from the MPS), a score band of 10 indicates performance in the top 10% (closest to the MPS).

What is CFA examination?

CFA refers to Chartered Financial Analyst, the examination for which has 3 levels – level I, II and III.

The examination can be taken annually, on the first Saturday of the June month, the level I examination can also be taken in the month of December.

In the month of June, the CFA examination can be taken for all the levels, however, the December month is only for people undertaking their level I examination.

The CFA examination must be passed in the ordered sequence – starting with Level I, moving to level II and subsequently level III. The language of examination is only English.

The examination is undertaken by professionals in the field of Finance and while an MBA degree focuses largely on all the major aspects of a business, CFA is an out and out post-graduate course which specializes in the field of Finance and therefore has become a criterion of selections in the field of Finance, for high-paying jobs across the globe.

What are the levels of CFA examination?

There are 3 levels of the examination – level I, II and III. Each level tests your ethical and professional standards. Questions to each candidate can be unique but the focus of questioning remains the same.

Level I: tests basic knowledge, comprehensive questions focus on investments tools and analysis

Level II: the emphasis shifts to complex analysis and valuation of assets

Level III: requires a synthesis of major concepts and analytic methods – for effective portfolio management and wealth planning

Pass Percentage Analysis

The pass % for CFA examinations are as follows:

December 2017 exam pass rate

  • Level I: 43%

June 2017 exam pass rates

  • Level I: 43%
  • Level II: 47%
  • Level III: 54%

December 2016 exam pass rate

  • Level I: 43%

The trend over the last 10 years (2007-16) shows us that 43% of the candidates taking the CFA examination passed all the 3 levels.

The differential analysis of pass % across all the 3 levels i.e. CFA level I, CFA level II and CFA level III in the last 10 years stands at 40% 44% and 52% respectively.

The Minimum Pass Percentage: this varies from examination to examination as the difficulty for each level can be differential across the years. After each examination, the CFA Institute board of governors sets the minimum pass percentage for each level. This is done to ensure fairness to candidates with due diligence given to the difficulty of the examination that year.

To know pass rates of the years 1963 to 2017B, click here.

Result announcement and subsequent steps

The average waiting time for CFA results in Level I and Level II is 60 days, while for the CFA level III examination the waiting time is 90 days.

The result announcement of each candidate is either in “pass” or “not pass”. A summary of each candidate’s performance is also given to be understood. Candidates who do not pass are given extra information regarding their performance.

What to do after exam results are announced?

Upon announcement of the results, the passed candidates (CFA level I and CFA level II) can proceed to take the next level of examination.

The candidates who did not pass are advised to retake the examination. Exam result evaluation helps the candidates strategize their studies to retake the examination at a later date.

How do I receive my CFA results?

The CFA results used to be uploaded online and those who undertook the examination needed to put in the desired credentials to check their results.

However, due to constant crashing on the results day – the CFA results are now delivered directly to your email which makes it more convenient for you to get hold of your results.

The results usually come at around 9 AM ET, which is around 6:30 PM in India. Do bear in mind that the magnitude of emails sent is large and therefore the waiting time to receive results can be slightly more than the official specified time for results delivery.

CFA Institute

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