Check Your CFA Level 1 Results With This Step-by-Step Guide

Last Updated on 4 days ago by Rina Chouhan

You finish the exam. The screen goes blank. You walk out of the test centre or close your laptop, and suddenly the only thing you can think about is when. When will the CFA Level 1 results be out? When will you know?

The good news is that the CFA Institute runs on a fairly consistent schedule. To understand how the results process of the CFA certification works, the short version is this: results take five to eight weeks after the exam window closes. Every time. Across all four annual sessions.

Four windows run each year. February, May, August, November. Each spans about a week. Once testing ends, the Institute begins its scoring process, which includes psychometric analysis, score calibration, and the Ethics Adjustment review. None of that is quick, which is why you wait. 

This guide covers everything from CFA Level 1 exam results dates across all 2025 and 2026 sessions, historical result data going as far back as CFA Level 1 July 2021 results, pass rate trends, and how to read your score report. If you have questions around how long for CFA Level 1 results, what time results are released, how to check on the portal, or what your next move should be after results day, you will find clear and direct answers here.

Did You Know?
Across all three CFA levels, only 10 to 20% of candidates who originally enrol eventually earn the charter.

CFA Level 1 Results: Starting With the Basics of the Exam

If you just sat the Level 1 exam and are anxiously waiting for your inbox to light up, you are in the right place. For anyone still exploring whether this path is right for them, it helps first to understand: what is CFA and why it matters in the world of finance.

The Chartered Financial Analyst designation is awarded by the CFA Institute, a global non-profit headquartered in the United States. It is one of the most respected qualifications in investment management and financial analysis, with over 200,000 charterholders across 170 countries.

There are three CFA levels. Level 1 is where everyone begins.

What Level 1 Covers

The CFA subjects tests ten topic areas in a single day, split across two 135-minute sessions with 90 multiple-choice questions each. That is 180 questions in total.

A Few Key Facts About Level 1

• The CFA Institute recommends at least 300 hours of preparation
• The pass rate sits between 40 and 46% across the most recent sessions
• The CFA exam is computer-based and taken at authorised Prometric centres globally
• Passing Level 1 is recognised by employers in finance even before you complete all three levels

Once your exam window closes, the wait for CFA Level 1 results begins. Results take five to eight weeks. Everything about that process, from exact dates to reading your score report, is covered in the sections below. 

A clear perspective on how the CFA program strengthens financial expertise, enhances credibility, and opens diverse career opportunities across investment and finance roles.

CFA Level 1 Results Schedule: 2025 and 2026

Here is the results schedule for 2025 and into 2026. Estimated dates follow the Institute’s historical release pattern and should be verified on the official CFA candidate portal.

You must know that results are not emailed to you directly. You get a notification at 9:00 AM Eastern Time telling you results are live. Then you log in. The result is on your dashboard.

For candidates in India, 9:00 AM ET translates to roughly 6:30 PM IST. Worth keeping in mind so you are not refreshing your inbox at 6 in the morning.

The December Results Question

A surprisingly large number of candidates search for CFA Level 1 results in December, expecting either a December exam window or a December results release. Neither currently exists.

The CFA Institute retired the December exam window in 2021 when it moved to computer-based testing across four annual sessions. Before that shift, December was the standard Level 1 window under the old paper-based format. The four current windows are:

• February
• May
• August
• November

If you sat in one of the old paper-based December sessions, those were separate. Everything from 2021 onward follows the new four-window structure.

Also Read: The CFA certification’s cost and career returns explain if it is worth it.

Every CFA Level 1 Results Date Since 2021, in One Place

Why does this matter? Because if you are waiting on results right now, you can cross-reference when similar sessions have historically released. And if you are studying the pass rate trend, the data tells a story worth reading.

The table below pulls together historical CFA Level 1 exam results across every session from 2021 through 2024, with pass rates alongside. The November 2021 result date stands out immediately when you look at this table. That session returned a 27% pass rate, the lowest in recent CFA history. Every other session since has sat between 37% and 46%.

The Step That Catches Most Candidates Off Guard

Before your CFA Level 1 results are accessible on the portal, there is a mandatory requirement that has nothing to do with the exam itself.

Practical Skills Modules. PSMs.

These are short, applied learning units introduced by the CFA Institute to connect curriculum knowledge to workplace skills. They are assigned after registration and must be completed before you can view your results. Think of it like a building’s lift that will not operate until you tap your access card. The floor you want is right there. You just cannot reach it without doing this one thing first.

PSMs in the CFA modules typically take 10 to 15 hours in total. They are not graded. They do not influence your pass or fail outcome in any way. But skipping them, or forgetting about them entirely, delays the moment you find out your result. The modules are accessible through the CFA Institute Learning Ecosystem. 

Interesting Insight→ The CFA Institute administers exams to roughly 250,000 candidates globally every year across all three levels.

How to Check the CFA Level 1 Result: Step by Step

The process of checking your result is simple. Five steps, maybe four minutes. The anticipation makes it feel longer than it is. Here is the exact flow, laid out plainly so there is no confusion on the day itself.

Step 1: Wait for the 9:00 AM ET email
The CFA Institute sends a notification to your registered email address at 9:00 AM Eastern Time on results day. This email will not contain your result. It exists only to tell you that the portal is live.

Step 2: Log into cfainstitute.org
Go directly to the CFA Institute website and sign in. Do not use cached pages. Log in fresh.

Step 3: Open Your Exam Dashboard
Click on your active Level 1 enrolment. Your pass or fail notification will appear at the top of the page.

Step 4: Download Your Score Report
The score report is where the real information lives. It breaks down your performance across every topic area. Download it immediately. Access to the full report is time-limited.

Step 5: Get Your Verification Letter
If you passed, your official verification letter is available on the same dashboard. This is the document employers and graduate programs will ask for. You can download it directly from here.

One more thing about CFA Level 1 results time: do not wait until 9:01 AM and then panic when the page does not load instantly. Server traffic on results day is high. Give it a few minutes before refreshing aggressively.

A focused walkthrough of practical strategies, study techniques, and preparation approaches that can help improve your chances of clearing CFA Level 1 with confidence and consistency.

Reading Your CFA Level 1 Results Report Without Guessing

The pass or fail is the headline. But the score report underneath it is where you actually learn something. The CFA Institute scores the Level 1 exam on a scale of 1000 to 1900. The Minimum Passing Score sits at approximately 1600, though the Institute has never confirmed the exact figure. 

Here is an easier way to picture this:
Imagine two batches of students taking two different versions of a school exam. One batch gets an easier paper. One gets a harder one. Raw percentages alone would be unfair to compare. So both are converted to a common scale. That is essentially what the CFA’s scaled scoring does.

Your score report shows topic-level performance in three bands. Below are those bands and what each one means practically. Before the table: focus on the band in relation to the topic’s exam weight. A below-50% score in a topic that carries 5% of the exam is very different from the same band in a topic carrying 14%.

The Ethics Adjustment Nobody Talks About

The Ethics Adjustment is real. It applies specifically to candidates sitting near the passing threshold, and it can go either way.

Here is how it works. After scoring, the CFA Institute looks at candidates whose total scaled scores are close to the MPS. For those borderline candidates, performance in the Ethics section gets additional weight. Strong Ethics scores on a borderline result can push a candidate into a pass. Weak Ethics scores on a borderline result can do the opposite.

The CFA Institute holds Ethics to a similar standard. It is weighted at 15 to 20% of the total exam, the single highest ceiling of any topic. Treating it as a box-ticking exercise is a mistake that shows up clearly in CFA Level 1 results data. 

The CFA Program prep with Imarticus Learning structures all of this for re-attempt candidates specifically, with mock exams, performance tracking, and live instruction mapped to your weakest areas.  

Also Read: What are some Top Job Roles You Can Land with a CFA Certification?

What Comes After Your CFA Level 1 Results

You open the portal. You get to know you have passed the exam well. There is a moment of genuine relief and then, very quickly, the question of what comes next. The window between passing CFA Level 1 and starting Level 2 preparation is shorter than most people expect. Here is what to do in the weeks immediately after your CFA Level 1 exam results arrive.

Register for Level 2 early:
Early registration windows carry lower fees. The difference can run into tens of thousands of rupees depending on the exchange rate and timing. The CFA Institute opens Level 2 registration shortly after Level 1 results are announced.

Update your professional presence:
Your LinkedIn profile, your resume, and any active job applications should reflect the pass within a day or two. Recruiters in equity research and financial analysis are actively searching for Level 1 passed candidates.

Download everything from your portal:
Your pass verification letter and score report have a time-limited access window. Do not assume they will be there a year later. Download both immediately.

Start looking at the Level 2 curriculum:
The jump from Level 1 to CFA Level 2 is substantial. The depth of analysis required increases significantly. Candidates who start early, even with light reading, enter the preparation phase with a meaningful head start.

If Your CFA Level 1 Results Did Not Go the Way You Hoped

More than half of all candidates in any given session receive a fail result. That is not a small number of people. It includes candidates who studied seriously and still fell short. What matters now is how you use the score report.

Pull it up. Look specifically at every topic where your band was below 70%. Then rank those topics by exam weightage. The intersection of low performance and high weighting is where your next preparation needs to begin. A few things that shift the outcome meaningfully on a second attempt:

More practice questions, fewer passive reading hours: The CFA course details are dense and well-written. Reading it feels productive. But retention without application does not hold on exam day. Timed question sets, especially under exam conditions, build the recall that reading alone cannot.

A fixed registration before you start studying. Pick your next window. Register. Commit. A specific exam date on the calendar changes the way you study. Without it, preparation expands indefinitely, and urgency never arrives.

Topic-specific drilling, not blanket re-study. If your score report shows above-70% performance in Derivatives and below-50% in Financial Statement Analysis, spending equal time on both is a poor strategy. Double down on what is broken. Maintain what is working.

An insightful take on widely believed assumptions and myths about the CFA exam, highlighting what’s often misunderstood and what candidates should realistically expect in 2025 and 2026.

Why Candidates Choose Imarticus Learning for Their CFA Preparation

Choosing a prep provider for the CFA is a decision that deserves the same rigour you bring to the exam itself. The program you enrol in shapes how you study, how you manage gaps, and whether you walk into that test centre with real confidence or just good intentions. Imarticus Learning’s CFA Program stands out on a few specific counts that are worth knowing before you decide.

• India’s First and Only Approved Prep Provider for the World’s Top 5 Finance Certifications: Imarticus holds this distinction across CFA, ACCA, US CPA, US CMA, and FRM. The CFA curriculum directly aligns with CFA Institute standards, not just in spirit but in structure.
• Industry-Led Program Built in Collaboration with KPMG in India: The CFA prep at Imarticus is developed with KPMG in India. This means 23 real-world business case studies evaluated by KPMG practitioners, monthly industry webinars, and 12 annual live sessions conducted by working professionals from the firm.
• Joint Certification from Imarticus Learning and KPMG in India: Candidates who complete the program receive a joint certification that carries weight with recruiters, a tangible addition to a resume that goes beyond a standard prep certificate.
• Kaplan Schweser Study Material Included. The program includes access to Kaplan Schweser books, study notes, question banks, and mock exams. Schweser is one of the most globally trusted resources for CFA prep, and having it integrated into a structured program removes the guesswork from material selection.
• 50% Fee Refund Guarantee if You Do Not Pass. If you follow the prescribed study plan and still do not clear the exam, Imarticus refunds 50% of your course fee. 
• Placement Support After CFA Level 1. After clearing Level 1, enrolled candidates receive structured placement assistance covering resume building, mock interviews, mentorship, and access to live hiring opportunities. The support period runs for six months after program completion.

FAQs About CFA Level 1 Results

Every candidate has doubts on results day. The answers below cover the most frequently asked questions about CFA Level 1 results, from release timelines to score interpretation and what comes after.

Are CFA Level 1 Results Out?

CFA Level 1 results are released four times annually, roughly five to eight weeks after each exam window. Check the CFA Institute portal for the current session’s release status. If you are preparing for an upcoming window, Imarticus Learning provides prep support aligned to every session’s schedule.

How Long to Wait for CFA Level 1 Results?

The wait for CFA Level 1 results is typically five to eight weeks from the close of the exam window. The Institute publishes specific dates ahead of each session on its official website. Imarticus Learning keeps enrolled candidates updated on result timelines throughout their preparation.

Can You Pass CFA Level 1 With 60%?

The CFA Institute does not use a simple percentage threshold. CFA Level 1 results are based on a scaled score, with the Minimum Passing Score estimated near 1600 on a 1000 to 1900 scale. Whether 60% raw translates to a pass depends on the exam’s difficulty calibration and the Ethics Adjustment applied that session.

Is 1700 a Good CFA Score?

A scaled score of 1700 on your CFA Level 1 results places you comfortably above the estimated MPS of 1600. It indicates solid performance across the majority of topic areas. The Institute does not publish percentile rankings, so the score cannot be compared against other candidates, but 1700 reflects strong preparation.

Why Do So Many Fail CFA Level 1?

The CFA Level 1 results pass rate of around 40 to 44% reflects how demanding the standard is, not just the material. Most candidates who do not pass fall short in high-weight topics like Financial Statement Analysis and Ethics, often due to unstructured preparation. Imarticus Learning builds a curriculum specifically around these high-impact areas.

Can I Get a Job If I Pass CFA Level 1?

Yes. Passing CFA Level 1 is actively recognised in equity research, credit analysis, asset management, and financial advisory hiring. It demonstrates both competence and commitment. Imarticus Learning also includes placement support in its CFA prep program, helping candidates leverage their results for job applications.

Is CFA Level 1 Very Hard?

The CFA Level 1 exam results data across recent sessions consistently show a pass rate between 40 and 46%. Four out of ten candidates pass in most windows. The difficulty is real but not random. Candidates with structured study plans, strong Ethics preparation, and consistent mock practice substantially improve their odds compared to those studying without a framework.

Does Deloitte Hire CFA Level 1 Passed Candidates?

Deloitte hires CFA Level 1 passed candidates across its financial advisory, valuation, and risk divisions. Your CFA Level 1 result adds measurable credibility to an application, particularly when paired with a relevant academic or professional background. Big Four firms value the credential at all three levels, and Level 1 is a recognised starting point.

From CFA Level 1 Results to What Comes Next

Results day has a way of feeling like an ending. You have spent months inside a curriculum that covers everything from fixed income pricing to ethical standards in portfolio management. You have given up weekends, early mornings, and a fair amount of mental energy to get here. And then one morning, a single word on a screen tells you where you stand.

A pass means the door is open. Level 2 is waiting, and the candidates who move quickly tend to move better. Registering early, starting light revision on the Level 2 curriculum, and updating your professional profiles are the three things worth doing in the first two weeks after a pass result. 

A ‘fail’ result carries its own information. Your score report shows you exactly which topic areas need work and at what depth. That is not a consolation. That is a precise study brief for your next attempt. Most candidates who eventually charter do not have a clean run across all three levels. What they have is the willingness to come back with a better plan.

If you are at the point where you want that structure, where you want live instruction, real case studies reviewed by industry practitioners, and placement support when you are ready to use the credential, Imarticus Learning’s CFA Course prep is worth a serious look. It is built specifically for candidates who want to clear the exam and actually use the qualification on the other side.