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Candidates have six maximum attempts to pass each level of the CFA exam, and each level can be attempted only twice per year (at least six months apart).
Level 1 ranges from 22%-49%, with a 9-year average of 40%; Level 2 ranges from 29%-55%, with a 9-year average of 44%; Level 3 ranges from 39%-56%, with a 9-year average of 50%.
Is the CFA Level III Exam Harder than Level II? Yes, the Level III exam is harder than the Level II exam because the Level III exam contains a constructed response section, and your knowledge in Portfolio Management and Wealth Planning makes up 35-40% of your score.
Now here comes level II. You passcongratulations, you are almost done. This is a big dealyou have just one more to go; its less than a year away and then once you pass that last one youll practically be a charterholder.
We do not review exam results nor is there an appeals process for candidates to dispute their results. Please be assured various quality control measures are in place to ensure your exam responses are accurately recorded and scored.
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Not only are Level II CFA concepts generally more complex, but the questions on the Level II exam also require more concentration. Compared to Level I, a candidate will need a higher level of preparation and skill to select the correct answer to a Level II question.
CFA Level II vs Level III Difficulty Candidates should expect the Level III exam to be more difficult than the Level II exam. The primary reasons Level III is more difficult than Level II are: Level III covers fewer topics which increases the weight of each topic, especially Portfolio Management and Wealth Planning.
Rescheduling an exam within the same exam window requires paying a $250 fee. Exam retakes require payment of the $1,000 standard exam fee or $700 early registration fee.

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