Level I Avg.
38%
2%
Last 10-year Average
1
Level II Avg.
44%
Stable
The "Filter" Exam
2
Level III Avg.
52%
High
Final Hurdle
3
Recent Trend Visualization
Level I
Level II
L1: 26%
L2: 40%
41%
39%
Detailed Statistics
| Exam Window | Level I | Level II | Level III |
|---|---|---|---|
| Nov 2024 | 35% | 48% | - |
| Aug 2024 | 37% | 47% | 48% |
| May 2024 | 42% | 59% High | - |
| Feb 2024 | 44% | - | 49% |
| Nov 2023 | 35% | 44% | - |
| Average (Hist.) | ~40% | ~45% | ~52% |
* Data sourced from CFA Institute official releases.
Analysis: Why the Fluctuation?
Pass rates hit a historic low in 2021 due to pandemic-related deferrals (the "stop-start" study effect). However, 2024 data suggests a return to the long-term mean. Level II remains the "filter", requiring the biggest jump in depth of understanding.