The aim of this article is to evaluate optical characteristics, such as the intrinsic conversion efficiency and the inherent light propagation efficiency of three polymethyl methacrylate (PMMA)/methyl methacrylate (MMA) composite ZnCuInS/ZnS (core/shell) nanocrystal flexible films. The concentrations of these were 100 mg/mL, 150 mg/mL, and 250 mg/mL, respectively. Composite films were prepared by homogeneously diluting dry powder quantum dot (QD) samples in toluene and subsequently mixing these with a PMMA/MMA polymer solution. The absolute luminescence efficiency (AE) of the films was measured using X-ray excitation. A theoretical model describing the optical photon propagation in scintillator materials was used to calculate the fraction of the generated optical photons passed through the different material layers. Finally, the intrinsic conversion efficiency was calculated by considering the QD quantum yield and the optical photon emission spectrum.