Some 42% pass CFA exams worldwide

Daily news headlines

Forty-two per cent of this year’s candidates working towards the Chartered Financial Analyst (CFA) qualification passed the exams they sat in June, the CFA Institute has announced.

A near-record number of entrants – 71,897 – took the Level I, II, and III exams leading to the qualification, which is often a prerequisite for financial professionals in investment management, investment banking and financial analysis of stocks, bond and derivatives.

Europe led the way with a 47% pass rate of its 11,732 candidates, even though it had less than half the number of candidates of the US, where 23,221 participants achieved a 44% success rate. But just 28% of the 3,477 examinees in Africa and the Middle East passed the test.

Overall, the results were below the average pass rates since the CFA’s inception in 1963. The Level I and Level II global pass rates were both 40% (average 46% and 51%, respectively), and 50% passed the final Level III (average 67%).

Of all those who passed Level III since 2004, just 12% have opted to specialise in risk management. It is the least popular career path chosen by CFA charterholders – 29% have gone into equity analysis and valuation strategy and 25% have entered portfolio management.

All those who sit for the CFA must have at least four years’ experience in the investment industry, must become a member of the CFA Institute and must sign a commitment to abide by its Code of Ethics and Standards of Professional Conduct.

Jeff Diermeier, CFA president and CEO of CFA Institute, said: “The CFA programme is for the serious investment professional. This is an important fact for investors to remember, especially with the current proliferation of less rigorous credentials.”

  • LinkedIn  
  • Save this article
  • Print this page  

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: