CFA Level 1 Score Calculator & MPS Estimator
Calculate your weighted aggregate percentage across all 10 CFA Institute curriculum topics. Compare your projected performance against the historical ~69% Minimum Passing Score (MPS) threshold with real-time Ethics adjustment simulation.
Official CFA Institute 10-Topic Weighted Curriculum
Strong Ethics score (+70%) triggers favorable CFA Ethics Adjustment.
Topic Accuracy Percentages
Weighted by Official Exam SyllabusEthical & Professional Standards
Exam Weight: 15-20%Financial Statement Analysis
Exam Weight: 11-14%Equity Investments
Exam Weight: 11-14%Fixed Income
Exam Weight: 11-14%Portfolio Management
Exam Weight: 8-11%Quantitative Methods
Exam Weight: 6-9%Economics
Exam Weight: 6-9%Corporate Issuers
Exam Weight: 6-9%Derivatives
Exam Weight: 5-8%Alternative Investments
Exam Weight: 5-8%How the CFA Institute Sets the Minimum Passing Score (MPS)
The CFA Institute does not publish a fixed passing score or enforce a pre-set curve. Instead, a Board of Governors establishes the MPS for each testing window using the Modified Angoff Standard-Setting Method. Historically:
- The Level 1 MPS typically hovers between 67% and 70%.
- Candidates scoring above 70% across all major topics almost never fail.
- The Ethics Adjustment is critical: CFA Institute explicitly states that candidate performance on Ethical and Professional Standards can be a tie-breaker for candidates hovering directly on the passing borderline.
CFA Level 1 Topic Weighting & Allocation Matrix
Official topic ranges defined by CFA Institute for the 2026 examination windows.
| Curriculum Topic | Official Weight Range | Approximate Questions | Strategic Priority |
|---|---|---|---|
| Ethical & Professional Standards | 15% - 20% | 27 - 36 | Critical (Ethics Adjustment) |
| Financial Statement Analysis | 11% - 14% | 20 - 25 | Critical (High Volume) |
| Equity Investments | 11% - 14% | 20 - 25 | High Yield |
| Fixed Income | 11% - 14% | 20 - 25 | High Yield |
| Portfolio Management | 8% - 11% | 14 - 20 | Core Foundation |
| Quantitative Methods | 6% - 9% | 11 - 16 | Formula Intensive |
| Economics | 6% - 9% | 11 - 16 | Conceptual Precision |
| Corporate Issuers | 6% - 9% | 11 - 16 | Core Corporate Finance |
| Derivatives | 5% - 8% | 9 - 14 | Mechanics & Valuation |
| Alternative Investments | 5% - 8% | 9 - 14 | High ROI / Short Study Time |
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Frequently Asked Questions
What is the Minimum Passing Score (MPS) for CFA Level 1?
CFA Institute does not publicly announce an exact MPS, but empirical 300Hours and historical candidate data show the MPS consistently falls between 68% and 70%. Achieving 70% or higher across the major topics historically guarantees a pass.
What is the CFA Ethics Adjustment rule?
For candidates whose overall score falls directly on or adjacent to the Minimum Passing Score border, CFA Institute reviews their performance on the Ethical and Professional Standards topic. A strong score can pull a candidate over to a PASS, while a weak ethics score can lead to a FAIL.
Which CFA Level 1 topics have the highest weights?
The highest-weighted topics are Ethical and Professional Standards (15-20%), Financial Statement Analysis (11-14%), Equity Investments (11-14%), and Fixed Income (11-14%). Together, these 'Big 4' topics comprise over 50% of the entire examination.
How is the CFA Level 1 exam structured?
The exam consists of 180 multiple-choice questions split into two 135-minute sessions (90 questions each) with an optional break between sessions. There is no penalty for incorrect answers.