CFA Level II August 2026 Results Are Out: 45% Pass Rate

The wait is over — CFA Institute has released the CFA Program Level II results for the August 2026 administration. Here is the pass rate, how it stacks up against recent sittings, and exactly what it means for your next move.

The headline numbers

•  Pass rate:  45% overall

•  Candidates who sat:  10,004 worldwide

•  Candidates who passed:  4,484

•  From CFA Institute:  “Our congratulations go out to all candidates receiving news of their Level II exam success today.” — Chris Wiese, CFA, Managing Director, Education

How it compares

At 45%, the August 2026 Level II pass rate sits slightly above the two most recent sittings — 43% in May 2026 and 44% in August 2025 — and lands right around the exam’s long-run average of roughly 45%. As CFA Institute has long cautioned, small movements in the pass rate are not a signal that the exam got easier or harder; the standard is set to a consistent level of competency each cycle.

Passed? Here is your next move

Clearing Level II makes you eligible to register for Level III — the final step to the charter. The next Level III windows are February 2027 and August 2027. Two things to plan for now: Level III leans heavily into portfolio management and real investment decision-making and includes constructed-response (essay) questions, and you will choose a specialised pathway at registration. Start early.

Did not pass this time?

You are far from alone — more than half of a strong, prepared cohort retakes. The candidates who come back and pass almost always do one thing differently: more active practice on their weakest topics, earlier. Use the free resources below to rebuild momentum without spending a rupee or dollar.

Keep your momentum — free

Practise with free CFA questions (no signup, no payment), grab the free Level 1 formula sheet for quick revision, and read our Level III specialised-pathways guide before you register.

Internal links to include in the body

→ Free CFA practice questions:  https://professionalcareerclub.com/free-questions/cfa-institute-cfa

→ CFA Level 1 formula sheet (free PDF):  https://professionalcareerclub.com/resources/cfa-level-1-comprehensive-formula-sheet

→ CFA Level III 2027 specialised pathways:  https://professionalcareerclub.com/news/cfa-level-iii-2027-specialised-pathways-topic-weights