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Of the 35,518 candidates who sat for the Level III chartered financial analyst (CFA) program exam globally in June, 56% passed, completing their final CFA program exam, the CFA Institute has announced.

The CFA Institute seen an increase in the number of candidates who took the exam compared to last year. In Canada, 13,125 candidates were tested in June, up 11% from the 11,688 tested in 2017.

Exams were administered worldwide, with Canada representing the fourth largest market in terms of the number of candidates tested, following mainland China, United States and India.

Successful Level III candidates will become CFA charterholders in early October, pending verification of professional experience and other membership requirements.

They will join more than 154,000 charterholders around the globe who have earned the CFA designation.

Of 79,507 candidates who sat for the Level I exam in June, 43% were successful and of 64,216 candidates who took the Level II exam, the pass rate was 45%.

“Congratulations to all candidates who passed their June exam and those who will soon be awarded the CFA charter,” says Stephen M. Horan, managing director of credentialing at CFA Institute. “Successfully completing all three levels of the CFA Program is an outstanding accomplishment, setting the foundation for a career-long journey of professional learning.”

The total number of candidates who sat for a CFA Program exam in June grew 18% globally year-over-year, with a 25% increase in Level I candidates for the same time period.