(Bloomberg) — The pass rate for the first level of the chartered financial analyst exam remained above its historic average, though test-takers who delayed their exams continued to have a much lower chance of success.
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In November, 43% of candidates passed the Level I test, down from 44% for those who sat for the exam in August, and 46% for those who took it in May, the CFA Institute said Tuesday. Still, that’s above the 40% average for the past decade and has recovered since the lows from 2021, when exam performance was hurt by test-taking deferrals amid the Covid-19 pandemic.
“We continue to see a stark difference in the pass rate of first-time test takers compared with those taking their exam after a deferral,” Rob Langrick, chief product advocate at the institute, said in a statement.
First-timers scored significantly above the average pass rate, with 49% succeeding, while those with at least one deferral had a 29% pass rate, the institute said. Those results mirror the trend seen in other levels of the exam, with lower success rates for candidates who put off their tests.
The CFA charter is a coveted certification for professionals across the finance industry. The three-level test to become a charterholder is offered several times a year and can lead to new job opportunities and higher salaries. More than 26,000 candidates sat for the Level I exam in November, which was administered at 507 proctored, computer-based testing centers around the world.
Level II candidates that took their exams in November are slated to get their results later this week.
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