As an expert in the field of finance and investment, I have seen many aspiring professionals struggle with the CFA (Chartered Financial Analyst) exams. These exams are known for their difficulty and are often considered a benchmark for measuring one's knowledge and expertise in the field. The CFA program consists of three levels, with each level becoming increasingly complex and challenging. In this article, I will be discussing the passing score for the CFA Level 2 exam and whether it is possible to pass with a score of 60%.When it comes to the minimum score required to pass the CFA Level 3 exam, it usually falls in the range of 60%.
This means that a candidate must obtain a score of approximately 60% on each part of the exam, both in the morning and afternoon sessions. However, if a candidate scores around 50% in the morning section, they will have to aim for a score of around 70% in the afternoon to make up for the difference and increase their chances of passing the minimum MPS (Minimum Passing Score) for the exam. The final result of the exam is either "Passed" or "Did not pass".The passing rate for the CFA exams has always been low, especially when compared to other major financial exams such as CPA (Certified Public Accountant) and CFP (Certified Financial Planner). This is because the Board of Governors deliberately sets a high MPS for each level, ensuring that only the most qualified candidates move on to the next level.
This also supports their philosophy of having only those with a deep and extensive knowledge of the subject become CFA charterholders.Over the years, the CFA exams have become more difficult, and then slightly easier again. This could be due to the fact that the exams are now offered five times a year instead of twice, which may have reduced the determination of candidates to pass each level. However, given the difficulty of the exams, it is essential to know the percentage of candidates who pass in order to better prepare for them or make a decision about whether to continue pursuing the CFA program. The minimum passing score for each level of the CFA exam is set by the Board of Governors. For Level 1, candidates must obtain a minimum passing score of 70% on the multiple-choice questions.
For Level 2, the minimum score required is between 65-70% on the multiple-choice questions. And for Level 3, a minimum passing score of 60% is required on the multiple-choice questions. In addition, candidates must also obtain a minimum passing grade on the essay portion of the CFA Level 3 exam.As an expert, I highly recommend that candidates take mock exams to get a better understanding of the format and identify areas they need to focus on. The CFA Institute also provides mock exams that can be taken multiple times until one feels comfortable with the format and content.
For Level 2, a score of at least 65% is considered a good chance of passing, although any score below 70% can be approved or rejected based on that year's weighted score. In conclusion, while it is possible to pass the CFA Level 2 exam with a score of 60%, it is not an easy feat. The passing rate for these exams is low, and the Board of Governors sets a high bar for candidates to ensure that only the most qualified individuals become CFA charterholders. It is crucial to prepare thoroughly and aim for a score higher than the minimum passing score to increase your chances of success. With dedication, hard work, and a deep understanding of the subject matter, passing the CFA exams is achievable.