Understanding CFA Exam Results: Dispelling Misconceptions

20 Dec 23

Published by Chalk & Board

Hello, CFA Program candidates! Nathan Ronen, CFA, here with insights regarding CFA Pass rates and interpreting the results page.

Often, I get messages from candidates in distress after receiving their exam results. Frustration brews. "Nathan, I failed, but I don't understand why. I felt confident after the exam." This scenario repeats, but let's break it down.

First things first—identify yourself. Knowing your name helps! Many reach out, but the anonymity doesn't clarify who I'm assisting. Once we establish that, we address the common query: "I passed mocks, studied materials, and felt I'd pass, but the results perplex me."

Let me clarify — your assumption that you were "one or two questions away from passing" is just that, an assumption. The CFA Institute doesn't specify how close you were. They simply convey "pass" or "fail". So, fretting over being close to the passing line is futile.

Here's a reality check: the CFA Institute doesn't disclose your raw score or how close you were to passing. Assume you didn't pass and move forward. Speculating about specific topics or scores won't alter your next attempt's outcome.

Consider this: even if you scored 31 or 32 points out of 36 in a section, it's relevant only concerning the average score. Without knowing the average, it's pointless to draw conclusions. Don't obsess over low scores on particular topics—it's relative, and your assumptions about closeness to the passing line aren't founded.

Your mock exam scores aren't indicative of your real exam performance. Different creators, different content. Embrace this uncertainty and focus on evenly studying and preparing across topics.

If you're serious about strategic studying and proper mentorship for your CFA journey, I'm here to guide you. Reach out through chalkandboard.org, and let's pave your way to acing the exams together.

Stop obsessing over scores; focus on structured learning. Don't spin your wheels—study smartly, and success will follow.