Only 43 per cent of candidates who sat the Chartered Financial Analyst (CFA) Level 1 Exam are progressing to Level 2, meaning approximately 34,000 investment professional worldwide did not pass.
The graduate level curriculum qualification for the international CFA Program saw a 14 per cent rise in candidates who sat for the exam last year, which CFA said was a reflection on the call to raise standards of professionalism across the Australian financial services industry.
"The strong increase of more than 40 per cent in the number of Australian candidates from 1,695 candidates in 2015 to 2,387 sitting the December exam in 2016 is indicative of the industry's desire to both improve standards and adopt globally recognised, tried and tested standards," CFA Society Sydney president, Anthony Serhan said.
"The CFA Program prepares candidates from around the world to have the highest level of professional knowledge within the industry to better serve investors."
Candidates for the December exam sat test papers in 104 centres across 72 cities in 40 countries worldwide; around 25,600 investment professionals passed the examination.
In order to complete the CFA charter, candidates must pass three levels of examinations, as well as meet work experience requirements which demand four years experience in the investment industry.