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.
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.
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“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.
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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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