Exam Results

Exam results are reported as "pass" or "fail" within 90 days (60 days for Level I) of the exam date.

Results are only available online and are never released over the telephone. Individual candidate results are only released to the candidate and are never released to a third party. A summary of exam results may be distributed to the CFA Institute member societies, CFA exam prep course sponsors, and others.

Actual exam scores are not released. The score matrix provided on the exam results is an indicator of overall performance and cannot be used to determine approximate scores or pass/fail status. The “<=50%” range is considered poor; “51%–70%” is considered poor to average; “>70%” is considered average to above average.

Retabulation

If you are uncomfortable with the grading process after receiving your results, you may request that your exam be manually retabulated by CFA Institute staff at a cost of US$100.00. To request an exam score retabulation, complete a request form, or contact us to request a copy of the form. Your form and payment must be received by CFA Institute within 30 days of the release of exam results. All exam materials, including answers, are the property of CFA Institute and will not be returned to you in either original or copied form.