CFA Level 1 Exam 25% Pass Rate | LOWEST EVER

The May 2021 Level 1 CFA Exam results showed that only 25% of candidates passed the test. This 25% pass rate for CFA level 1 is the lowest pass rate of any CFA exam in history. It may also have had the highest minimum passing score (MPS) of any CFA exam in the past. This is a discussion of how this could have happened, why the CFA institute has made the pass rate this low, and what this means for CFA exams in the future. Have the CFA Exams gotten harder? Is the CFA charter worth pursing if all 3 levels are getting more difficult? These are difficult questions for CFA exam candidates right now.

If you have an idea of something you want me to cover in depth, please let me know because I take your requests seriously. Will be back with more CFA Exam tips in a couple of weeks so please submit more questions you would like to hear answered. Love you all!

- AJ

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[safwanislam]

Hey man, just wanted to let you know I got the idea of registering for the cfa from your videos. And I went ahead and registered last November and also got the Wiley study plan from your suggestion. I passed the cfa level 1 may exam and it would have never happened if I hadn’t watched your videos. Still waiting for that 5 plates bench and sub 1hour marathon though.. Thanks again!

[freddytang]

As someone that studied 500 hours for level 3, I am crapping my pants waiting for my results

[randybrickson]

It's stunningly clear that CFAI did not properly validate the computer-based exam format.

[Mojo]

What suprises me the most is, that everybody is just helplessly accepting this sudden change of CFAi, without any notice.
This group payed the same money for level 1 as everybody in previous years, but do not get the same product/chance as these candidates in previous years.

This is way unfair. Is there nothing we can do? Is there no hope for the 75%?

For me CFA is the most unethical institute that is out there.

[caniripurjuul]

I feel like the “choppy schedule” theory has definitely backed them into a wall. Cause while if it’s true or not, level 2 candidates would have had similar exam cancelation scenarios so they should expect similar results by the CFAI’s explanation. So if next Tuesday we don’t see a comparable drop to the historical pass rate for the level 2 scores, then most likely that Reddit post was a blatant lie.

[drockccc]

I just passed and also received my FRM designation on the same day. But no one cares when I shared with them, so yeah, I am happy for myself.

[timoty]

Honestly think that they continued to increase the MPS, especially since the MPS was very close to the 90th percentile line. Absurd to me still is the 25% passing rate (I passed gladly), seeing all those who worked hard for it.

[_HR]

25% is so hard. Sry for those who didn’t pass. The exam was not easy. I learned a lot for this test and had luck that I scored above 70% in every topic. You will get it if you don’t give up.

[packerfanbd]

I also passed but wow do I ever feel for the people right underneath the MPS line. Any other year it would have been good but this year the CFAI decided to do what CFAI does. Great vid

[happymemories_videography]

Now, I am worried. I am taking the level 1 exam in August.

[xdarshan]

If they are simply increasing the difficulty due to an increase in the number of candidates then it is only fair to make it mandatory to retest past charterholders to this new standard. Otherwise they are the real reason why its getting too crowded. Don't allow them to use the CFA designation unless they periodically reset themselves to the forever increasing standards.

[MitchellC]

Bloomberg put out an article a few years back that said 20% of candidates do not show up for the exam. I guess I could see that coupled with a higher MPS as being the reason why we saw a 20% reduction in the pass rates. Kind of makes sense too because from what I saw, the MPS was pretty dang close to the 90th percentile.

[jamescarter]

Hi, I believe Mark Meldrum said in a video that around 30-40% of people who register for CFA1 don't follow through and sit the exam.

[starlord]

Choppy schedule!

I was in the zone and then they delayed it. I stopped studying with the extra time and never got back into the zone.

[ling]

I agree with you totally. Even though i passed the exam luckily, i still think the pass rate is extremely ridiculous. They can not just cut the pass rate like this without any clear explanation. I'm really worried about my lv.2 and lv.3 exam in the future.

[chuckzuzak]

I sat for Level II in May. I felt very confident leaving the CBT exam site. I'm feeling it's a toss up now.

[JeanSeb]

I kinda scared about next week. I'm waiting for my level II result... What's more, I learn about 2 weeks before the exam in May that the day of my exam would be 3 days before the scheduled date. Basicly, I was loosing 3 whole days of study and doing the exam during the week instead of saturday... I think computer based exam are fine, but they need to fix a few thing to make it better

[pieterswiegers]

Someone who took the level 3 exam said to me time was a issue especially in the essay part since it is much easier and faster to write out a formula than it is to type, that would only possibly explain level 3 results should they be lower.

[tycurtis]

I passed thankfully. I hadn't taken the exam before so I can't compare it's difficulty to previous exams obviously, but we'll probably never know what happened behind the scenes. I think you just got to move on if you failed by either rescheduling for November or reevaluating the CFA's value to your career after this whole affair.

[Denis-vrsh]

I agree they're not including the people that didn't show up, but with CBT, the time cost for sitting the exam on exam day is a lot lower than the written method. There is nothing stopping students from guessing their answers, come back do the same for the 'afternoon' session and then leave. Whereas previously you were stuck in a room for essentially 6-7 hours...