CFA Results – Do You Understand Well?

3d people with symbols. Accept or abort

Okay…. so the big day is here. You have got your CFA Exams results. Cool !!! Lets have a look that what your results section shows.

Your exam result indicates whether your performance on exam met the minimum passing score (MPS). A result of:

  • Pass indicates your total exam score met the MPS
  • Did Not Pass indicates that your total exam score did not meet the MPS.

A topic area performance summary is provided along with your exam result to show your areas of strength and areas for improvement. This information is designed to guide candidates in preparing for future exams. The summary lists:

  • Each topic area covered on the exam
  • The maximum points that could be earned in that topic area
  • An indicator of the score range (≤50%, 51%–70%, or >70%) in which your score in that topic area fell.

Level III candidates are provided with two topic area summaries, one reflecting the essay portion of the exam and the other reflecting the item set portion.

CFA Institute divides the group of candidates who do not pass into 10 approximately equal score bands. If you do not pass, your score band will be provided. Your score band shows how your overall score on the exam compares with the overall scores of other candidates who did not pass this exam.

Take these important factors into consideration when evaluating your exam result:

  • The maximum points achievable for each topic area vary. Strong performance in one topic area does not necessarily compensate for weak performance in another topic area.
  • The topic area performance summary cannot be used to determine actual scores or a pass/did not pass result. CFA Institute reports topic area performance as a range. Therefore, topic performance patterns that appear similar may be associated with a different pass/fail result. For example, candidates in higher score bands may have topic area performance summaries that resemble that of a passing candidate.
Not Happy with Results? Exam Score Retabulation:

If you are not satisfied with your exam result, you may request that your exam score be manually re-tabulated. Additional details regarding the deadline and payment process can be found on the Retabulation Request Form (PDF).

The retabulation process only confirms that your scores are recorded and totaled correctly. Retabulation is not an appeals process nor a re-marking service, nor will it change the grades on your individual answers. If your score is found to be accurate, you will still be responsible for paying the retabulation fee and no refund will be given. If, however, your score is found to be incorrect, even if it does not change your exam result, CFA Institute will promptly refund your retabulation fee.

CFA Institute does not release individual scores, nor scores for any portion of the exam. All exam materials, including answers, are the property of CFA Institute and will not be returned to candidates in either original or copied form.

Please direct all questions regarding exam results to



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