CFA Level 1 May 2025 Results Released: Pass Rate, Scorecard Insights and Next Steps

The CFA Institute has officially released the CFA Level 1 results for the May 2025 session on June 26, 2025, for exams held between May 14 and May 20. Candidates can access their results via email or the CFA Institute website, with scorecards detailing overall performance, topic-level strengths, and a scale score benchmarked against the Minimum Passing Score (MPS).

The expected pass rate ranges between 42% and 46%, consistent with recent trends. Successful candidates can now prepare for Level 2, while those who didn’t pass are encouraged to use their detailed feedback to focus their studies for a future attempt. AUBSP continues to provide expert guidance and support for all CFA aspirants.

CFA Level 1 May 2025 Session: Results, Pass Rates, and What’s Next

Today marks a pivotal moment for thousands of aspiring investment professionals as the CFA Institute officially announces the CFA Level 1 results for the May 2025 exam session. If you were among the many who took the exam during the testing window from May 14 to May 20, 2025, the long wait is finally over.

Let’s walk you through everything you need to know — from result release procedures to pass rates, score interpretation, and what comes next in your CFA journey. AUBSP.com guide you with accurate, professional, and timely updates.

Result Release Details

The CFA Institute released the Level 1 results for May 2025 on June 26, 2025, starting after 9:00 AM ET. Candidates have received an email notification and can also log into their CFA account on cfainstitute.org to view detailed scorecards.

👉 Note: The CFA Institute does not provide physical/hard copies of the result or scorecard. Your digital profile holds all official documentation.

Understanding Your Scorecard

Your CFA Level 1 result is presented as either “Pass” or “Did Not Pass.” However, the detailed score report gives you deeper insights into how you performed.

Scale Score

This reflects your numerical performance and is scaled against a benchmark. Although the actual Minimum Passing Score (MPS) isn’t disclosed, it’s widely estimated to be around 65-70%.

Confidence Interval

A light blue box surrounding your score on the graph indicates a confidence interval, which represents the range your actual performance may fall within due to factors such as question variation or exam-day conditions.

Topic-Level Performance

Each of the 10 topic areas is represented on your scorecard. Performance is shown relative to two benchmarks:

• 70% line – Considered topic mastery
• 50% line – Minimum comfort threshold

Doing well across all topics, especially Ethical and Professional Standards, can be the difference between passing and failing.

Pass Rate for May 2025 (Expected)

As of now, the official pass rate for the May 2025 Level 1 session hasn’t been disclosed publicly. However, based on recent trends, AUBSP expects it to remain within the 42%–46% range.

Previous CFA Level 1 Pass Rates

These statistics underscore the challenging nature of the CFA Program, where less than half of the candidates typically pass Level 1.

Historical Context: How Have Pass Rates Changed?

The CFA Level 1 pass rate has seen considerable fluctuations over the past few years:

• 2021 (COVID-19 Era): Historic lows — 22% in July and 25% in May.
• 2022–2024: Steady recovery as candidates adjusted to computer-based testing (CBT).
• Overall Historical Average: Approximately 41%.

These numbers prove just how important dedicated preparation and smart strategy are for success.

What’s Next?

✅ For Candidates Who Passed

Congratulations from all of us at AUBSP! You’ve successfully cleared the first major hurdle in your CFA journey.

Next Steps:

1. You’re now eligible to register for the CFA Level 2 exam.
2. There must be a minimum 6-month gap between Level 1 and Level 2 exam dates.
3. Don’t forget to complete at least one Practical Skills Module (PSM) to unlock your result and register for Level 2.

❌ For Candidates Who Did Not Pass

First and foremost, don’t be disheartened. Many CFA charterholders did not clear Level 1 on their first try. What matters now is how you respond.

What You Can Do:

• Use the scorecard’s topic breakdown to assess weak areas.
• Begin early preparation for the next attempt (e.g., November 2025 session).
• AUBSP recommends revisiting your study plan and using adaptive tools like mock tests and topic-based quizzes.

Key Considerations for Future Success

Whether you’re retaking or moving to the next level, here are some essentials to keep in mind:

📘 Study Time Commitment: CFA Institute suggests at least 300 hours of preparation per level.

📅 Structured Study Plan: A disciplined plan covering all 10 topics is crucial. Prioritize weaker areas identified in your previous attempt.

🧠 Master Ethics: Scoring well in Ethical and Professional Standards can swing borderline cases in your favor.

📝 Practice is Key: Mock exams, topic tests, and CFA Institute’s learning ecosystem provide a reliable gauge of readiness.

📚 Understand the Curriculum: It’s not enough to memorize — you must understand the concepts and apply them in different scenarios.

FAQs on CFA Level 1 May 2025 results

When were the CFA Level 1 May 2025 results released?
The results were released on June 26, 2025, after 9:00 AM ET.

How can I check my CFA Level 1 May 2025 result?
You can access your result via the email sent by the CFA Institute or by logging into your candidate account at cfainstitute.org.

What format is the CFA Level 1 result presented in?
Results are displayed as “Pass” or “Did Not Pass,” along with detailed scorecard information.

Does the CFA Institute send physical scorecards?
No, the CFA Institute does not issue hard copies of scorecards; results are only available online.

What does the Scale Score mean on the scorecard?
The Scale Score is a numerical representation of your performance, indicating how close you were to the Minimum Passing Score (MPS).

What is the Minimum Passing Score (MPS) for CFA Level 1?
The exact MPS is not publicly disclosed, but it is generally estimated to be around 65–70%.

What is the Confidence Interval shown on the scorecard?
The Confidence Interval reflects the range of variation in your performance, influenced by exam-day conditions or question mix.

How is topic-level performance reported?
Your performance is shown relative to 70% and 50% thresholds for each of the 10 topic areas, helping you identify strengths and weaknesses.

What was the pass rate for CFA Level 1 May 2025?
The official pass rate has not been announced yet but is expected to be between 42% and 46%.

How do recent CFA Level 1 pass rates compare?
Pass rates have been 46% (May 2024), 44% (August 2024), 43% (November 2024), and 45% (February 2025).

What’s the average historical CFA Level 1 pass rate?
The average historical pass rate for Level 1 is approximately 41%.

Can I retake the exam if I didn’t pass?
Yes, you can retake the exam in a future session. Use your scorecard to identify and improve weak areas.

How soon can I register for CFA Level 2 after passing Level 1?
You must wait at least six months between Level 1 and Level 2 exam dates.

Do I need to complete a Practical Skills Module (PSM)?
Yes, at least one PSM is required to fully unlock your exam result and proceed to the next level.

How much study time is recommended for CFA Level 1?
The CFA Institute recommends at least 300 hours of study for Level 1.

Is performance in the Ethics section important?
Yes, strong performance in Ethics can be a deciding factor, especially for borderline candidates.

Are the CFA exams graded manually?
No, the computer-based test is scored using automated systems, followed by rigorous quality control checks.

Can I request a re-evaluation of my CFA result?
No, the CFA Institute does not offer score re-evaluations or appeals.

When is the next CFA Level 1 exam session?
The next available session is expected in November 2025.

What should I focus on if I didn’t pass?
Review the topic-level performance in your scorecard, strengthen weak areas, and adopt a structured study plan.

How can AUBSP help me prepare for CFA exams?
AUBSP provides detailed guides, strategies, and expert insights to support your CFA preparation journey at every level.

Will my CFA Level 1 result be valid indefinitely?
Yes, passing Level 1 does not expire, but you must complete the remaining levels within the CFA Program’s timeline.

How important is consistency across topics?
Consistency across all 10 topics is essential. High variance or weakness in key areas can impact your pass/fail outcome.

Is the CFA Level 1 result enough to secure a finance job?
While not a guarantee, passing Level 1 can significantly improve your profile and open entry-level opportunities in finance.

Can I share my CFA Level 1 result on LinkedIn?
Yes, once you’ve passed, you can share your result on professional platforms like LinkedIn, but avoid misrepresenting your status as a CFA charterholder.

Are CFA Level 1 results globally recognized?
Yes, the CFA designation and exams are internationally respected across investment and finance industries.

The CFA journey is not just an exam series — it’s a transformation into a global finance professional. Whether you passed or not, you’ve already invested in your growth, and that effort never goes to waste.

AUBSP remains your trusted source for professional guidance, exam updates, and preparation strategies. We’ll continue to walk with you as you take your next steps — towards Level 2, or a stronger retry of Level 1.

Stay committed. Stay curious. Success will follow.