Hello Hari,
Apologies for the late reply. I was away for a few days and could not log into my account.
Well done for reaching the Advanced level.
To answer your question: You do not fail; you will get a score and recommendations on what you need to revise. If you want to improve your score, you can revise those sections and retake the test using your free credits to buy further submission tokens. This is how it works for all the tests.
If you are working towards the 'fluent' certificate, then you need to repeat this process with the each test: take test >> receive feedback on what needs improving and how ->> revise / study >> retake until you have scored a minimum of 80% on each test. You will then receive the fluent certificate, which is the equivalent of the C1 level of the CEFR.
Let me know if I've answered your question.
Best wishes,