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CFA Level 1 Result Analysis

CFA Level 1 Result Analysis

CFA Level 1 Result Analysis:- This is the first of three exams offered by the CFA Institute. This exam (in addition to other requirements) must be passed for an individual to become a CFA charter holder. The CFA program is a globally recognized standard for measuring the competence and integrity of financial analysts. Level 1 focuses on tools and concepts that apply to investment valuation and management.

cfa-level-1-result-analysis

cfa-level-1-result-analysis

CFA Level 1 Result Analysis

The results of recent years’ CFA exams are summarised in the table below, together with the most recent results:
Year
Level I June
Level I December
Level II
Level III
2016
43%
TBD
46%
TBD
2015
42%
43%
46%
53%
2014
42%
44%
46%
54%
2013
38%
43%
43%
49%
2012
38%
37%
42%
52%

CFA Level 1 Result Analysis- CFA Statistics Since June 1963

How do the pass rates compare to past years?

The pass rate has gone through an overall historical decline, but the good news is that since 2010 or so, pass rates have been on the rise. Below are all historical data points as a comparison.

  • The interactive chart below shows the full historical pass rates & candidate volume for CFA exams since inception in June 1963.
  • Drag the markers in the timeline at the bottom of the chart to zoom into a particular date range, or alternatively just scroll.

Results format – what are all these categories and bands?

The CFA Institute does not publish your detailed score. You receive a Pass / Fail grade and in the case of a Fail, an additional Band 1-10 score (10 indicating the closest to a Pass grade). You will also receive a categorical score on your exam topics – just 3 categories: 0-50%, 51-70%, 71% and above.

CFA Level 1 Result Analysis
The drop in quality across failing candidates compared to the passing pool is fairly even. However, several observations are worth noting:
  • Heavy-weighted topics, such as FRA, Equity Investments and Fixed Income, show a large difference in performance across passing and failing candidates
  • Ethics remains strong across passing and failing candidates. Although the performance of Ethics is not as strong as in June 2012, it is still one of the stronger topics. The emphasis on the ethics adjustment continues to focus candidate attention to Ethics. This is a right strategy, as Ethics is both high-weighted (at 15%) and has similar content across all 3 levels.
  • Focus on FRA, Quant Methods, Economics and Fixed Income. These are the large troublemakers in the CFA Level I – pay extra attention to scoring big in these topics.
  • Getting a mid-range score, especially a heavyweight topic, is not good enough. The CFA exam isn’t an ordinary test – 70% and above is the only way to cut it. If you’re scoring 50% on a topic, that isn’t enough, especially if that topic counts for a lot in the exam.
  • Continue to focus on Ethics. At 15% weighting and with little variation across all CFA levels, start strong on Ethics right from Level I.

Best Recommended Read:- CFA Result| CFA Level 1 Results| Pass Percentage| Result Analysis

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cfa-level-1-result-analysis

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