Failed CFA Exam? Here's What to Do Next!

What to Do When You Fail the CFA Exam

• Accept the Setback, But Don’t Dwell on It

Failing the CFA exam is more common than you think. The pass rates are low, especially for CFA Level 1, typically hovering around 40-45%. Acknowledge your disappointment, but don’t let it define you. Many candidates retake the exam and succeed. What matters is how you move forward.

• Analyze Your CFA Exam Performance

The CFA Institute provides a performance breakdown after the exam. While not highly detailed, it helps identify your strengths and weaknesses.

• Did you struggle with quantitative subjects like Fixed Income or Derivatives?
• Were you weaker in Ethics or Economics?

Pinpointing these areas will help you focus on effective CFA exam preparation next time.

Revise Your CFA Study Strategy

Sometimes, failure is not about how much you studied but how you studied. Here’s how you can rework your approach:

• Shift to Active Learning

• Instead of passively reading, engage in active learning (use flashcards, take handwritten notes, or teach concepts to someone else).
• Active recall and spaced repetition improve knowledge retention.

• Prioritize CFA Practice Questions & Mocks

• If you didn’t solve enough practice questions or mock exams, make it a priority this time.
• The more you practice, the better you’ll be at time management and solving complex problems under pressure.

• Improve Time Management

• Did you struggle to balance CFA preparation with work/life commitments?
• Adjust your study schedule to space out study sessions effectively.
• Avoid last-minute cramming by creating a structured study plan well in advance.

[Check out our blog on How to Ace the CFA Exam for more expert tips!]

Leverage External CFA Prep Resources

If CFA Institute study materials weren’t enough, consider third-party CFA prep providers:

• Kaplan Schweser and Uworld provide in-depth explanations and structured study plans.
• AnalystPrep and Fintree offer video-based learning for better conceptual understanding.
• CFA study groups can keep you accountable and help with collaborative learning.

Maintain Your Mental & Physical Well-Being

The CFA exam requires immense dedication, but don’t neglect your health:

• Prioritize sleep – A well-rested mind retains information better.
• Exercise regularly – Even short workouts reduce stress and improve focus.
• Take breaks – Overloading yourself can lead to burnout.

Adjust Your CFA Exam Timeline

Failing an exam may shift your timeline, and that’s completely okay! The CFA journey is a marathon, not a sprint. Retaking an exam with better preparation is more beneficial than rushing into it again with the same old plan.

• Stay Positive: CFA is Not a Race

• Many candidates take longer than the standard 3-4 years to complete all three levels.
• Your goal is to pass, not rush through it.
• Focus on your progress, not others.

Plan Your Next CFA Exam Attempt

Once you’re ready, it’s time to strategize for success:

• Register early – This gives you a structured timeline and more study time.
• Create a new study plan based on your previous attempt’s weak points.
• Stick to your schedule – Consistency is key, even when life gets busy.

Don’t Give Up – CFA Success Takes Persistence

Some of the most successful CFA charterholders have failed one or more levels. What sets them apart is persistence and adaptability.

Conclusion

Failing a CFA exam is not a failure of you as a candidate. It’s an opportunity to reevaluate, adapt, and come back stronger. Make sure to take care of your health and not failure affect you physically and mentally.

Take it as a learning experience and identify what went wrong. It makes sense to plan well for your next attempt and prioritize practicing mocks and questions more

As mentioned above, you can take the help of various prep resources to solidify your preparation and make you more confident.

Most importantly, never give up and persist by trying harder!

At CharterBuddyy, we’re here to support you throughout your CFA journey. If you need expert tips, motivation, or study resources, check out our other posts or reach out to us.