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Examination Results - Examination Format


The CST and CFA examinations consists of 200 multiple choice questions, of which 175 are scored. The 25 pretest items (unscored) are randomly distributed throughout the examination for the purpose of analysis and statistical evaluation. The passing score is the minimum number of questions that must be answered correctly out of the 175 scored items. Score reports are provided to all candidates who take either a CST or CFA examination.


Candidates must correctly answer 112 questions to pass the CFA examination.

Candidates must correctly answer 118 questions to pass the CST examination.  


Each question has four choices listed, only one of which is correct. The answer to each question can be derived independently of the answer to any other question.