CFA Level I Exam Pass Rate Stays Above Decade Average at 45%

The pass rate for the first level of the chartered financial analyst exam stayed above its historic average, while additional test centers are poised to open in India and other locations outside the US.

In May, 45% of candidates passed the Level I test, unchanged from the percentage who were successful in February and up from 43% for those who took the exam in November, the CFA Institute said Thursday. That’s also higher than the 40% average for the past decade and the lows from 2021, when exam performance was hurt by test-taking deferrals amid the Covid-19 pandemic.