What to expect about the result?

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June 2015 exam pass rates
Level I: 42%
Level II: 46%
Level III: 53%

Results for Level I and II candidates are available within 60 days of the exam date.
Results for level III are available within 90 days of the exam date.

Your exam result indicates whether your performance on the 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.

The Angoff method has been used as a criterion for establishing the MPS for the Level I examination since 1996. CFA Institute retains independent psychometricians to conduct standard-setting workshops for each exam.