The CFA Institute reported a 43% pass rate for Level I in August, a move back above the 10-year average of 40%. That tops May's 39% but trails February's 45%. It also sits above the outlier weakness of 2021, when Covid-19 disruptions weighed on outcomes.
The split between sticking to the plan and pushing the test back stayed stark. Among candidates who took Level I in August after at least one deferral, 29% passed, versus 49% for first-time test takers. As the institute put it, "The results continue to highlight the benefits of staying on schedule in exam preparation and following a consistent study plan."
It is a big, global lift: more than 28,000 candidates sat for Level I in August across 519 proctored, computer-based locations worldwide. The program spans three levels and runs multiple times a year. Candidates who tested for Level II and III in August are expected to get Level II results on Sept. 30 and Level III on Oct. 20.
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The CFA charter is widely viewed in finance as a career catalyst that can open doors and improve pay, but it takes three levels to get there. These latest splits underscore how much consistency matters: candidates who stayed on schedule did notably better than those who delayed. If you are investing in your own skills, this readout shows how peers fared and what steady prep can do for outcomes.
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