Bloomberg News

CFA Applicants’ Pass Rate Drops for Exam’s First Levels

July 24, 2012

A lower percentage of hopefuls for the Chartered Financial Analyst designation passed the first and second levels of their three-part exam in June compared with a year earlier.

Thirty-eight percent of applicants passed the first test, the CFA Institute said today on its website, down from 39 percent on the June 2011 exam. Forty-two percent of applicants passed the second level, compared with 43 percent a year earlier.

To contact the reporter on this story: Michael J. Moore in New York at

To contact the editor responsible for this story: David Scheer at

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