To pass CFA Level I, you'll likely have to aim for 70% on as many subjects as possible. In other words, you don't have to score more than 70% on all tests to pass them. Some say you can get as little as 65%, or even 63%. You don't even need to get more than 51% on everything to pass it. A candidate who scored close to that of the MPS could have been approved under some circumstances, but in most cases they would not have approved it.
With a little more study, this candidate can increase the odds in his favor. Level 1 usually has lower approval rates, while Level 2 shows the achievements of a more demanding group of candidates. UWorld's team of professionals includes CFA holders with extensive experience teaching and creating specific content for the CFA exam, as well as in financial education. However, the CFA Institute recommends not leaving too much time between each level or the repetition of the exam.
In addition to helping you analyze your score, understanding the CFA test score report will also give you an idea of areas where you can improve and will allow you to evaluate your position on the CFA exam, in case you want to try again. They have recognized that their behavior leads to possession of a CFA pass (especially if the level becomes a Veblen asset (the higher the “price”, the greater the demand). Increasing the profile and prestige of the CFA charter should (and is) the objective of the CFA Institute, which generates demand for examination and certification. In general, the low passing rates of the CFA exam can be attributed to the level of difficulty of the exam, the extensive curriculum, the time commitment required for preparation, and the limited number of attempts.
Despite the continued use of multiple-choice questions (MCQ), Level 2 introduces a bullet-type format unknown to Level 1 candidates, adding an additional level of complexity. The multiple-choice questions (MCQ) from all three levels of the CFA exam are scored automatically, and around 10% of the exams are re-graded by hand to check for inconsistencies and ensure accuracy. To determine passing scores for each level of the CFA exam, the CFAI uses a method known as the modified Angoff method. If you plan to take another level (or the same) of the CFA Program exam in the future, knowing how your score compared to various topics on this exam can help you focus your future studies for the next exam.
We won't get as many data points yet, since level 2 exams are held three times a year, but with future exams we'll see a pattern emerging and we'll see if the CFA Institute is right to say that this is a temporary exam. The CFA (Chartered Financial Analyst) exam is a rigorous and challenging exam that requires a high level of preparation and understanding of complex financial concepts. Second, while Level 1 consists primarily of multiple-choice questions, Level 2 includes questions with a set of points that require more analytical skills and critical thinking.
