Subject: CFA L1 results, failure & grading guide, study materials, journey planner

Why do two rival coffee shops always end up opening directly next door to each other on the high street, rather than spacing themselves out sensibly? ​ ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­  

8 articles • 44d to Nov'26 • 147d to Feb'27 • 225d to May'27

  • CFA August L1 results are out: Check our latest 2026 Minimum Passing Score (MPS) estimates, and our updated pass rates to put your result in context. We also cover the results day FAQs, how to interpret your results charts, and what to do if you didn't pass this time.

  • Failed CFA & grading explainer: Didn't get the result you wanted? We cover the most common reasons candidates fail and how to bounce back, plus a clear explainer on how CFA grading actually works behind the scenes.

  • What's next - study materials & journey planner: Whether you're retaking or moving to the next level, now's the time to plan. We discuss whether third-party prep books are worth it, and our CFA Journey Planner helps you map out your full pathway from here.

  • New free tools: We've launched a new set of tools for our readers at learn.300hours.com. This includes a next-gen planner, study readings, a specially trained AI tutor, practice questions, mock exams, and a fully-automated exam analyzer (analyzer is CFA-only). It's beta-testing at the moment, so please send any feedback if you have any!

Read, and remember to comment!
Zee Tan, 300Hours

Support what we"re doing - buy us a coffee, we'd appreciate it! 🏃‍♀️


Do you know this? Why do two rival coffee shops always end up opening directly next door to each other on the high street, rather than spacing themselves out sensibly?


Answer at the end of this email!

CFA Passing Score: Our Helpful MPS Estimates

CFA Passing Score: Our Helpful MPS Estimates

Zee Tan • CFA • Exam Day & Results

CFA Institute does not release the passing score candidates need to beat to pass their exams. Having the MPS can be helpful, as it gives candidates a target for their mock exams, and gives them an idea of how well they're doing. Which is why we have been estimating the Minimum Passing score for more than 14 years now.

Latest MPS and historical trends ➔

CFA Pass Rates: How Hard Are The CFA Exams?

CFA Pass Rates: How Hard Are The CFA Exams?

Sophie Macon • CFA • Exam Day & Results

What are the trends emerging in the latest CFA pass rates? We comb through the latest data to see the patterns and how they may be relevant to future exams.

Latest pass rate trends ➔

Get a Jump on Your Next CFA Exam

AdGet a Jump on Your Next CFA Exam

Kaplan Schweser • Prep Providers

May CFA exam results are out, increase the odds of passing your next exam with a Schweser Study Package. Includes our PassProtection guarantee.

Continue Your CFA Journey ➔

Shift From Memorization to Mastery

AdShift From Memorization to Mastery

UWorld CFA • Prep Providers

UWorld encourages deeper learning by helping you understand concepts rather than simply memorizing formulas.

Start for Free ➔

CFA Exam Results: Top 5 Questions, Answered

CFA Exam Results: Top 5 Questions, Answered

Zee Tan • CFA • Exam Day & Results

Candidates often have these five questions at the top of mind as they navigate results day. Here they are, answered and explained.

Top 5 results day FAQs, answered ➔

CFA Exam Results: How to Interpret CFA Results Charts

CFA Exam Results: How to Interpret CFA Results Charts

Zee Tan • CFA • Exam Day & Results

Does the CFA results chart offer more info than at first glance? In this guide, we go through exactly what information is given through your results PDF, and how the interpretation can be used to make you perform better in your next exam.

CFA results interpretation guide ➔

Profit Maximization (for the CFA Level 1 Exam)

AdProfit Maximization (for the CFA Level 1 Exam)

Let Me Explain • Prep Providers

This video focuses on profit maximization (for the CFA Level 1 exam):

  • average and marginal revenue (AR and MR) curves
  • average fixed, average variable, average total and marginal cost (AFC, AVC, ATC and MC) curves, facing firms which operate under conditions of perfect and imperfect competition
  • criteria for choosing a level of output for which profits are maximized

Profit maximisation for CFA L1 ➔

Advance your career with a FMVA certification

AdAdvance your career with a FMVA certification

Corporate Finance Institute • Other Qualifications

100 hours of professional Wall Street training material. 24 courses and certificates included. 20+ financial models & templates.

Special rate for 300Hours readers ➔

Failed CFA Exams? 5 Clear Steps To Recover

Failed CFA Exams? 5 Clear Steps To Recover

Zee Tan • CFA • Exam Day & Results

Failed your CFA exams? Don't panic, here's a step-by-step guide showing you the best way forward.

Failure recovery plan ➔

The Complete CFA Grading Process, Explained

The Complete CFA Grading Process, Explained

Zee Tan • CFA • Exam Day & Results

Knowing how your exam is graded can make a huge difference in your exam grade, as you understand what the process and the examiner is looking for. We lift the lid on the CFA exams and see how each level is graded.

How CFA exams are graded ➔

Third-Party CFA Prep Books: Do You Need Them?

Third-Party CFA Prep Books: Do You Need Them?

Zee Tan • CFA

Choosing the right study materials is crucial for CFA exam success, and there's a vast array of third-party prep books available. We review some of the most popular and highly regarded options, highlighting their strengths, weaknesses, and unique features, to help you find the best fit for your learning style and study needs.

Choose the right prep ➔

Plan Your CFA Registration With Our Handy Journey Planner

Plan Your CFA Registration With Our Handy Journey Planner

Sophie Macon • CFA

Which exam should you be registering for, given your work schedule, existing study schedule, and/or family commitments? Use our handy Journey Planner to figure all this out.

L1, L2 and L3 figured out with Journey Planner ➔

More guides, tips and stories ➔

Answer to Quick Question: Hotelling’s Law (and a classic Nash equilibrium). In spatial competition, neither vendor wants to cede territory to the other. While spacing apart would be socially optimal for customers, both shops minimise their risk of losing market share by clustering dead in the middle, leaving commuters with two flat whites in the same spot, and a long walk from anywhere else.

You received this email because you signed up at 300Hours with the email address:

friend@example.com

We craft all our emails personally.

Reply to this mail anytime to tell us how to improve, or just say hello.

© 2026 300 Hours Ltd