When Do CFA Results Come Out?

CFA exam results come out within five to nine weeks after your exam window closes, delivered by email from CFA Institute on a single release date for everyone at your level. For the August 2026 window, Level I results were released on September 24, Level II on September 30, and Level III results are scheduled for October 20, 2026.

That's the short answer. Below is how the timeline works, why Level III always takes longest, what your score report will actually show you, and how to use the waiting period instead of refreshing your inbox.

The official timeline

CFA Institute's own guidance is that you'll get an email notifying you your official results are available within 5–9 weeks after the close of your exam window. Note the starting point: the clock runs from the close of the window, not the day you personally tested. If you took Level I early in a multi-week window, your wait will feel longer than someone who tested on the last day — but you all get results the same day.

Results aren't trickled out as exams are scored. Every candidate at a given level is notified on the same date, and CFA Institute publishes a press release with that window's pass rate the same day.

2026 CFA results release dates

Here are the 2026 release dates confirmed by CFA Institute press releases:

Exam window	Level	Results released	Pass rate
February 2026	Level I	March 19, 2026	45%
February 2026	Level III	April 7, 2026	—
August 2026	Level I	September 24, 2026	43%
August 2026	Level II	September 30, 2026	45%
August 2026	Level III	October 20, 2026 (scheduled)	Not yet released

A few details from those releases are worth knowing. In August 2026, 28,145 candidates took Level I and 10,004 took Level II. First-time candidates passed at noticeably higher rates than those who had deferred: 49% vs. 29% at Level I, and 52% vs. 30% at Level II. CFA Institute has said repeatedly that staying on schedule is one of the strongest predictors of passing — something to keep in mind if you're tempted to push your next exam back. (For deeper context on these numbers, see our breakdowns of the CFA Level 1 pass rate and CFA Level 2 pass rate.)

Why Level III takes the longest

Level III results consistently arrive last, and there's a concrete reason: Level III includes constructed-response (essay) questions that humans grade. CFA Institute says that for Level III, hundreds of CFA charterholders take part in an essay grading event. Levels I and II are entirely multiple-choice, which can be scored faster.

Before any level's results go out, CFA Institute also runs a statistical review of exam questions and candidate performance, plus quality-control checks. The Minimum Passing Score is maintained across exam versions through a process called equating. That analysis is part of why results take weeks, not days.

How you'll receive your results

On release day, CFA Institute emails your result. After that, you can sign in to the CFA Program results page to view your score report. Your results stay available online for roughly one year after your test date. After that, you can still prove your status by downloading a verification letter from your CFA Institute account profile, but the topic-level breakdown is gone — so save a copy of your score report.

Results are released only to you, not to employers or third parties. The one exception CFA Institute notes is that lists of passing candidates are shared with local CFA societies for membership purposes.

What your score report shows

Since the February 2025 administration, every level reports a scale score, which is far more informative than the old pass/fail-plus-percentile reports. Here's what you'll see:

• Pass or Did Not Pass.
• Your scale score compared with the Minimum Passing Score (MPS). The ranges are:

Level	Score range	Minimum Passing Score
Level I	1000–1900	1600
Level II	2000–2900	2600
Level III	3000–3900	3600

• A confidence interval around your score, showing the range your score would likely fall in on a similar exam.
• Topic-level performance with lines at 50% and 70% of available points, plus the average for all candidates in your window.

Two things candidates often misunderstand. First, there's no passing score per topic — strong performance in one area can offset weakness in another. Second, you can't request a retabulation; CFA Institute does not offer score reviews. If you pass Level III, you don't get a detailed report at all, just a congratulatory email.

If your result was a Did Not Pass, the confidence interval is the most useful number on the page. CFA Institute's guidance: if your interval overlaps the MPS, you were close and need a bit more study; if it sits entirely below the MPS, plan for substantial remediation before retaking. We walk through that decision in detail in Failed CFA Level 1? What to Do Next.

What to do while you wait

Five to nine weeks is a long time to sit idle, and the material fades fast. A few practical options:

If you think you passed: Start light prep for the next level. When CFA Institute announced the August 2026 results, registration for May 2027 Level II and February 2027 Level III was already open. You don't need to register before results, but you can start reviewing. The next level builds directly on the previous one, so a few hours a week now beats a cold start in November.

If you're unsure: Do low-cost maintenance. Keep flashcards and short daily question sets going so that if you do need to retake, you're not rebuilding from zero. This is where a habit-based app helps more than re-reading textbooks — 15 minutes a day keeps formulas and ethics standards fresh without burning you out.

Either way: Write down what felt hard on exam day while it's still fresh. Which topics felt shaky? Did you run short on time? That note, combined with your eventual score report, is the best study plan you'll ever have.

Planning your next exam around results

Because results arrive 5–9 weeks after a window closes, there's always a gap between learning your result and the next registration deadline. Check the CFA exam registration deadlines as soon as you get your result, since early registration pricing ends well before the exam.

One policy change matters here: CFA Institute has announced it will eliminate the paid deferral option beginning with the February 2027 exam cycles. Given the gap between first-time and post-deferral pass rates above, picking a realistic exam date the first time is more important than ever.

Keep your momentum going

Whether you're waiting on Level I results or getting ready to start, the best use of this window is steady practice under realistic conditions. Certus is the Duolingo-style way to pass the CFA — short daily sessions, spaced-repetition flashcards, and adaptive practice, for a fraction of what traditional courses cost.

If you want an honest read on where you stand right now, take our free full-length CFA mock exam. It's genuinely free, no signup required, and it will show you which topics need work before your next exam.