Staffing & Culture | 10.23.26

CFA Level III Pass Rate Stays Below Historical Average

by: Alex Padalka

The CFA Institute reported that 47% of 13,940 candidates worldwide passed the Level III CFA exam in August, continuing a trend of results below historical averages. The pass rate fell from 50% in February 2026 and August 2025, compared with a 50% average over the past decade and 54% across the exam’s 63-year history. Level III pass rates have remained at or below 50% since 2020. First-time test-takers performed better, with 56% passing, while candidates who had deferred at least once recorded a 31% pass rate.

Read the full article on Financial Advisor IQ