Tuesday, January 24, 2012

CFA Institute Says Level 1 Exam Pass Rate Slipped to 38%

     Jan. 24 (Bloomberg) -- A lower percentage of hopefuls for the Chartered Financial Analyst designation passed the first level of their three-part exam in December compared with June.

     Thirty-eight percent of applicants passed the first test, the CFA Institute said in an e-mailed statement today, down from the 39 percent who passed the June exam. Thirty-six percent of candidates passed the Level 1 exam in December 2010.

     Almost 49,400 financial professionals sat for the latest test, a 6 percent increase from a year earlier, as they sought to gain a hiring edge following a decline in the number of U.S.

financial-industry jobs, according to the CFA. Applicants take the test hoping the certification can lead to better jobs, higher salaries and a deeper understanding of finance.

     Candidates can take the Level 1 exam in both June and December, unlike the two latter levels, which are available once a year.


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