CFA Institute Reports Results for CFA® Program Level I Testing in November
CFA Institute, the global association of investment professionals, announces that of 28,953 candidates worldwide who sat for the Level I CFA® Program exam in November 2023, 35 percent have passed. All candidates will be notified of their results today.
Successful Level I candidates wishing to pass swiftly to Level II of the CFA Program may now register for the May 2024 examination window.
Chris Wiese, CFA, Managing Director, Education at CFA Institute, comments:
“My congratulations go to all candidates learning of their CFA Program Level I exam success today. I hope you feel motivated by your achievement and are looking ahead to continuing your advance to the CFA charter.”
“For candidates who didn’t pass this time, I know it feels very disappointing. I encourage you to make full use of the comprehensive Learning Ecosystem which offers all the study tools you need in your study journey. You can also connect with your local CFA society, mentors, and peers to seek guidance and feedback on your study plan and exam strategy.”
“Prior exam deferrals impacted results for many candidates again. Some Level I candidates choose to defer their exams, and this continues to impact the overall pass rate. I encourage candidates considering deferring their next exam to sit their exam as soon as practical. This will maximize the benefit to you from earlier studies and increase your likelihood of success in terms of retaining the study material.”
Candidates for the November Level I CFA Program exams attended in person at one of 480 proctored computer-based examination venues located in 378 cities in 107 markets worldwide. Exam Levels I and II were held during the November testing period. Level II results will be released to candidates on 17 January. Historical pass rates can be found at the following link: Exam Results and Pass Rates.
Introducing Practical Skills Modules
Beginning with the 2024 exams, CFA Program Level I and II candidates benefit from new Practical Skills Modules that provide candidates with an opportunity to apply what they have learned in the curriculum to real-world scenarios. Candidates access the Practical Skills Module in their personal Learning Ecosystem.
Candidates are required to complete at least one Practical Skills Module per exam level.
Practical Skills Modules consist of 10-15 hours of video content and practice case study exercises. They are available in the following topic areas:
• Level I: Financial Modeling and / or Python Programming Fundamentals
• Level II: Analyst Skills and / or Python, Data Science and AI
Practical Skills Modules are not graded, but candidates complete low stakes quizzes as they progress through the module within their individual Learning Ecosystem.
The Practical Skills Modules were launched in 2023 and are required for all candidates who are testing in February 2024 or later for Level I, or May 2024 or later for Level II. For Level III candidates, Practical Skills Modules will be required for anyone testing in February 2025 or later.
About the CFA Program
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 including portfolio management, investment analysis, wealth management and consulting. The curriculum is updated annually and teaches and tests across 10 topics through an agreed Candidate Body of Knowledge.
CFA Program candidates have access to extensive online learning materials including a Learning Ecosystem - an adaptive online learning tool that provides all necessary study materials, study planning tools, and mock examinations designed to focus candidates on their needs, strengths, and weaknesses in preparation for their exams. Candidates preparing to sit for an exam may find CFA Exam Study Tips helpful.
For more about the CFA Program, visit: CFA Program Evolution.
About CFA Institute
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are nearly 200,000 CFA charterholders worldwide in 160 markets. CFA Institute has 10 offices worldwide and 160 local societies. For more information, visit www.cfainstitute.org or follow us on LinkedIn and X at @CFAInstitute.