CFA Institute reports results for CFA® Program Level II testing in August 2026
CFA Institute, the global association of investment professionals, announces that of the 10,004 candidates worldwide who sat for the Level II CFA® Program exam in August 2026, 45 percent have passed. All candidates will be notified of their results today.
Chris Wiese, CFA, Managing Director, Education, CFA Institute, said:
"Our congratulations go out to all candidates receiving news of their Level II exam success today. Success at this stage of the CFA Program reflects a sustained commitment to study and a strong grasp of the investment concepts covered throughout the curriculum. Passing Level II brings the final level of the CFA Program firmly into view and represents a significant achievement in its own right.”
First-time candidates achieved a pass rate of 52 percent, while candidates testing after at least one deferral had a pass rate of 30 percent. Remaining on track with CFA Program study and exam preparation remains the clearest indicator of exam success.
Successful Level II candidates may now progress to Level III of the CFA Program. Registration for the February 2027 Level III exams is open.
Candidates for the August Level II CFA Program exams attended in person at one of 452 proctored computer-based examination venues located in 369 cities in 113 markets worldwide. CFA Exam Levels I and III were also administered during the August testing period. Level I results were released on 24 September 2026. Level III results will be released to candidates on 20 October 2026. Historical pass rates can be found here: Exam Results and Pass Rates.
About the CFA Program
The CFA Program is a rigorous self-study program that covers a wide range of investment management education essentials from ethics to quantitative analysis to portfolio management and wealth planning. Enrolling in the CFA Program and earning the CFA charter prepares individuals for a variety of career paths in every sector of the global finance industry. Candidates can access all essential study tools through the Learning Ecosystem including mock exams and the newly introduced Practical Skills Modules. Candidates preparing to sit for an exam after a deferral may find CFA Exam Study Tips helpful. Find out more about the CFA Program.
About CFA Institute
As the global association of investment professionals, CFA Institute sets the standard for professional excellence and credentials. We champion ethical behavior in investment markets and serve as the leading source of learning and research for the investment industry. We believe in fostering an environment where investors’ interests come first, markets function at their best, and economies grow. With more than 200,000 charterholders worldwide across 160 markets, CFA Institute has 8 offices and 157 local societies. Find us at www.cfainstitute.org or follow us on LinkedIn and subscribe on YouTube.