How to Pass CFA Level 2: Understanding the Minimum Passing Score

As a seasoned expert in the field of finance and a Chartered Financial Analyst (CFA) myself, I have seen many aspiring candidates struggle with the CFA exams. The CFA program is known for its rigorous and challenging exams, and the second level is no exception. In this article, I will share my insights on what percentage you need to pass CFA Level 2 and how you can increase your chances of success. First and foremost, let's address the burning question - what is the minimum passing score (MPS) for CFA Level 2? The CFA Institute, the governing body of the CFA program, sets the MPS for each level after every exam administration. Generally, a score of at least 65% is considered a good chance of passing.

However, it is important to note that the MPS can vary from year to year based on the difficulty level of the exam. So, any score lower than 70% may be a pass or a failure depending on that year's weighted score. Now, you may wonder why there is such a variation in the MPS. Well, it's no secret that the CFA Institute has been increasing the approval rating to generate more candidates and, therefore, more revenue. This has led to some skepticism among candidates about the transparency of the MPS calculation process.

Nevertheless, as a candidate, it is crucial to focus on preparing for the exam rather than worrying about these external factors. For those who are not familiar with the CFA program, let me explain how it works. The program consists of three levels - Level 1, Level 2, and Level 3.Each level has its own unique curriculum and exam format. While Level 1 focuses on basic concepts and tools, Level 2 delves deeper into asset valuation and portfolio management. This is why Level 2 is considered the most challenging level of the CFA program. Now, let's talk about the exam results.

After the administration of each exam, the CFA Institute's board of directors sets the MPS for each level. This means that the MPS for Level 2 can vary from year to year. Additionally, the CFA Institute does not provide a detailed breakdown of test scores or answers to test questions. These are considered evaluation information and are part of the candidate's exam history, which is confidential. So, what can you do to increase your chances of passing CFA Level 2? The answer is simple - preparation is key.

While individual candidate scores may vary, historically, only 41% of test takers pass this particular exam. This means that you need to put in a lot of effort and time to prepare for this exam. One of the best ways to prepare for CFA Level 2 is by using high-quality study materials and practice tests. These resources will help you familiarize yourself with the exam format and identify your strengths and weaknesses. Seeking guidance from experienced professionals can also be beneficial as they can provide valuable insights and tips on how to approach the exam. Another important aspect of preparation is developing a comprehensive study plan.

This includes setting aside dedicated study time, covering all the topics in the curriculum, and practicing with mock exams. By doing so, you will not only increase your chances of passing but also build a strong foundation for your future career as a financial analyst. In conclusion, while there is no fixed percentage that guarantees a pass in CFA Level 2, aiming for a score of at least 65% is a good starting point. However, it is important to remember that the MPS can vary from year to year, and the CFA Institute does not provide a detailed breakdown of test scores. So, instead of focusing on the MPS, focus on preparing well for the exam.

With dedication, hard work, and the right resources, you can conquer CFA Level 2 and take a step closer to becoming a Chartered Financial Analyst.

Serena Lubahn
Serena Lubahn

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