57 pc failed CFA Level 1 exam

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.

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"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.

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"meaning approximately 34,000 investment professional worldwide did not pass"

Nope, does not mean that. There is no requirement to be "an investment professional" in order to sit the CFA, only to be granted to designation after level 3. In fact, most candidates will tell you a not insignificant portion of those students sitting level 1 have no industry experience at all, they are current or recent uni graduates. This plus the volume/intensity of work is why the failure rate is so high.

Correct BB. Most of them are not let lose with anyone's hard earned.......

I have passed level 1 on the first go and it was by far the hardest exam I had ever done, till I got belted by Level 2. I am having another go at it this year. I believe worldwide approx. 5% of charter holders are involved in personal financial planning and would recommend it to masochists, people who want to challenge themselves and don't want to do very long runs or bike rides, and those whose friends or family or employment is not too demanding.

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