The CFA Program continues to grow globally, and 2025 has brought positive news both in terms of exam results and accessibility.

In the May 2025 Level I exam, 45% of the 24,227 candidates passed, showing a healthy performance above the long-term average. First-time test takers stood out with a 52% pass rate, while repeat candidates had a lower 28% success rate. The results underline the importance of timely progression and disciplined preparation, as those who move steadily through the program perform significantly better.

To support its global candidate base, the CFA Institute has also expanded the number of exam centers for the November 2025 sittings. New test locations have been added in Africa (Addis Ababa, Rabat, Maputo, Mbabane) and India (Gurgaon/Gurugram, Nashik, Manipal). These additions make the program more accessible to candidates who previously faced logistical challenges such as long-distance travel.

This development underscores the CFA Institute’s mission to make the charter globally inclusive. By lowering barriers to entry, more aspirants from emerging financial hubs can now participate in the program.

Together with ongoing digital learning tools and curriculum innovations, these steps reflect how the CFA Institute is adapting to a changing world—balancing high standards of rigor with greater accessibility and support. For candidates, this means a better chance to succeed and a smoother journey toward earning one of the world’s most prestigious finance credentials.