(Bloomberg) — The pass rate for the first level of the Chartered Financial Analyst exam jumped to 46%, above the historical average, but the pass rate was significantly lower for candidates who had already postponed the exam.
Most read articles on Bloomberg
CFA Institute said Wednesday that 46% of candidates passed the Level 1 exam in May, up from 44% of those who took the exam in February and 35% in November. That’s above the 10-year average of 40% and the lowest pass rate in 2021, the first time exam performance has been hurt by COVID-19 postponements.
The institute also analyzed the differences between people taking the exam for the first time and those who took it after postponing it for various reasons, including disruptions caused by COVID-19. First-time test takers had a significantly higher-than-average pass rate of 53%, while those who postponed the exam had an average pass rate of 27%, according to a statement from the institute.
“Our latest analysis of exam results once again shows that choosing to postpone your exam impacts candidates’ chances of success,” said Chris Weese, the institute’s managing director of education. “As always, we encourage candidates to take their exams as scheduled where possible.”
The CFA is offered several times a year and can lead to new job opportunities and higher salaries in the finance industry. The Level I exam, given in February, was the first time candidates had access to an updated curriculum that the association said was aimed at streamlining learning and expanding opportunities for practice.
More than 21,000 candidates took the Level 1 exam, which was administered at 486 testing centres around the world in May. The institute previously administered paper-based exams but switched to computer-based testing during the pandemic.
Candidates who sat the Level 2 exam in May are expected to receive their results next week, the association said.
Most read articles on Bloomberg Businessweek
©2024 Bloomberg LP