The final piece
of the August 2026 CFA results is in. CFA Institute reported a 47% pass rate
for the Level III exam, from 13,940 candidates — just under the 10-year average
of about 50%.
As with the
other levels, the gap between fresh and deferred candidates was stark:
first-time takers passed at 56%, while deferred candidates passed at just 31%.
All three specialized pathways (Portfolio Management, Private Markets, Private
Wealth) were reported as equally rigorous.
That completes
the August 2026 set:
|
Level |
Aug 2026 pass rate |
|
Level I |
43% |
|
Level II |
45% |
|
Level III |
47% |
Why the
first-timer vs. deferred gap matters now: from February 2027, CFA Institute
is eliminating the paid deferral option — if you register and don’t sit, you
forfeit your fees and re-register at full price. With deferred candidates
historically passing far below first-timers, the message is clear: register for
a window you can actually commit to.
- CTP — CTP final application deadline 28 Oct 2026
- ACCA — ACCA December 2026 standard entry closes 2 Nov 2026
- CFA — CFA February 2027 registration closes 5 Nov 2026
- ACCA — ACCA December 2026 late entry closes 9 Nov 2026
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