Free tool · result analysis
Enter your score report. See your gap to the pass mark and when to retake.
Where each topic sits against the 50% and 70% lines (). The % is its exam weight.
Pick your level and the window you sat. Your report's topics then show here.
The short version
Quick answer: A CFA® (Chartered Financial Analyst) Level 1 result, like every CFA result, shows "Pass" or "Did Not Pass" and a scale score. You pass when your scale score reaches the minimum passing score (MPS). The MPS is 1,600 for Level I, 2,600 for Level II and 3,600 for Level III. There is no pass mark per topic. After a fail, your earliest retake is six months later.
Guide
How to read your result and bounce back
A CFA Level 1 result has two pages, like Level II and III results. Page 1 gives "Pass" or "Did Not Pass" and your scale score. A scale score turns correct answers into a fixed scale, so every exam version is judged the same way.
Page 1 also marks the MPS, the average of everyone in your window, and a shaded band around your score. That band is a confidence interval: the range your score would likely land in on a similar exam that day.
Page 2 shows the share of questions you got right in each topic. It also shows the group average per topic (added from the August 2025 exams) and each topic's exam weight. CFA Institute removed the old 10th and 90th percentile lines when it added scale scores. Think of the report like a fitness test. Page 1 says whether you cleared the bar. Page 2 shows which muscles held you back.
CFA Institute publishes one MPS for each level. A score equal to the MPS is a pass. Scale scores started with the February 2025 exams. CFA Institute does not say how many questions you must get right, because that can differ slightly between exam versions.
| Level | Scale | Pass mark | Windows |
|---|---|---|---|
| Level I | 1,000–1,900 | 1,600 | February, May, August, November |
| Level II | 2,000–2,900 | 2,600 | May, August, November |
| Level III | 3,000–3,900 | 3,600 | February, August |
In short: the pass mark sits 600 points above the bottom of each level's scale, the same for every exam version.
Ethics questions can push a borderline score to either side of the MPS. Results are final: CFA Institute does not offer a recount.
Each topic shows the share of its questions you got right, with lines at 50% and 70%. Below 50% means a rebuild. Between 50% and 70% means steady work. CFA Institute calls consistent scores above 70% a reasonable sign of mastery. There is no pass mark per topic, so a strong topic can make up for a weak one.
Do not average topic scores to rebuild your total. Topics have different numbers of questions, as CFA Institute's results guide says.
The analyzer ranks topics by weakness × weight, like fixing the biggest leak in a boat first. Illustrative, 2027 Level I weights: Ethics (10–15%, midpoint 12.5) below 50% scores 1 × 12.5 = 12.5. Economics (6–9%, midpoint 7.5) above 70% scores 0.2 × 7.5 = 1.5. Between the lines, or "Not sure", counts 0.6.
CFA Institute's eligibility policy allows a CFA exam at most twice in a calendar year. You cannot sit back-to-back windows or windows less than six months apart. So your earliest retake is six months after your exam. Each level allows six attempts, and a partly completed exam still counts.
| Sat Level I in | Next window (3 months) | Earliest retake (6 months) | Also allowed (9 months) |
|---|---|---|---|
| February | May: not allowed | August | November |
| May | August: not allowed | November | February |
| August | November: not allowed | February | May |
| November | February: not allowed | May | August |
In short: the very next window is off limits. The window six months later is your earliest retake.
CFA Institute's pathway chart agrees: fail Level I in February, retake in August. Its policies FAQ says "six months or less apart", so the analyzer also names the next allowed window. Level II runs in May, August and November, so an August sitter waits nine months, until May. Level III runs in February and August, so its retake is always six months later.
A Level I retake at the early price costs USD 1,140. That is about ₹1,08,260 at ₹94.96 per US dollar (illustrative; ECB reference rate, crossed via EUR, on 16 Oct 2026). The ECB (European Central Bank) publishes daily euro reference rates; crossed via EUR means we convert through the euro to get the rupee rate. After the early deadline, the standard price applies. Live deadlines: CFA exam dates.
The 2027 curriculum applies to exams from February 2027. At Level I, four topics have new names and four have new weight ranges. CFA Institute rewrote Quantitative Methods and Equities, and updated Ethics at every level. A 2026 report uses the old names, so map each one before you plan.
| 2026 topic (on a 2026 report) | 2026 weight | 2027 topic | 2027 weight |
|---|---|---|---|
| Ethical and Professional Standards | 15–20% | Ethical and Professional Standards | 10–15% |
| Quantitative Methods | 6–9% | Quantitative Methods | 11–14% |
| Economics | 6–9% | Economics | 6–9% |
| Financial Statement Analysis | 11–14% | Financial Statement Analysis | 11–14% |
| Corporate Issuers | 6–9% | Corporate Finance | 6–9% |
| Equity Investments | 11–14% | Equities | 11–14% |
| Fixed Income | 11–14% | Fixed Income | 11–14% |
| Derivatives | 5–8% | Derivatives and Risk Management | 6–9% |
| Alternative Investments | 7–10% | Alternative Investments | 6–9% |
| Portfolio Management | 8–12% | Portfolio Construction | 8–12% |
In short: Quantitative Methods jumps from 6–9% to 11–14%. Ethics drops to 10–15%. So a 2026 weakness in Quant now costs more.
A renamed topic may cover different material. Check the 2027 topic outline before you reuse old notes.
Book the next level and finish its Practical Skills Module (PSM), a short hands-on online course. You must complete at least one PSM at each level before results come out, or CFA Institute voids your result. Each takes about 10–20 hours.
To sit Level II as an undergraduate, you must be within 11 months of graduation. Level III needs a completed bachelor's degree or 4,000 hours of work experience. Level III passers get a congratulations email only, with no score report. The charter then needs at least 4,000 hours of relevant work experience over at least 36 months. CFA Institute says successful candidates report studying over 300 hours on average per level.
FAQs
The minimum passing score (MPS) for CFA Level I is 1,600 on a scale from 1,000 to 1,900. Level II passes at 2,600 on a 2,000 to 2,900 scale. Level III passes at 3,600 on a 3,000 to 3,900 scale. CFA Institute does not publish the share of questions you need to get right.
No. CFA Institute sets no minimum passing score by topic. A strong topic can make up for a weak one, and only your overall scale score decides the result. The 50% and 70% lines on page 2 are guides to show where you need the most work.
Six months after your exam, at the earliest. You can sit a CFA exam at most twice in a calendar year, never in back-to-back windows, and not in windows less than six months apart. So a Level I candidate who sat in August can retake in February. You get six attempts per level.
Six times per level. A partly completed exam, such as sitting only one session, still counts as an attempt. After six unsuccessful attempts at one level, CFA Institute does not let you register for that level again.
CFA Institute emails your CFA Level 1 result within 5 to 9 weeks after your exam window closes. Levels II and III follow the same timing. Your result stays available for about one year. After that you can ask for a verification letter, which confirms pass or fail but not your topic results.
No. CFA Institute does not offer a retabulation, which means a recount of your marks. It says many quality checks run before any result is published.
No. A Level III passer gets only a congratulations email, with no detailed results. Candidates who do not pass Level III get the full report, with a scale score and the topic chart.
No. It never predicts a pass, a fail or a chance of passing. It explains your report, ranks topics by weakness and exam weight, checks the retake rules and builds a study plan. How you prepare decides your next result.
This analyzer is not CFA Institute's official tool. It never predicts a pass, a fail or a chance of passing. Rules, dates and fees come from CFA Institute's website, checked in October 2026, and can change; confirm on cfainstitute.org before you register. CFA Institute does not endorse, promote or warrant the accuracy or quality of the products or services offered by QuintEdge. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
