CFA Institute, the global association of investment professionals that sets the highest standards of ethics, education, and professional excellence, announced that of 26,882 candidates that sat for the Level III CFA exam in June 2014, 54 per cent passed the third and final exam.
In Canada, 10,161 candidates sat for the Level III exam this year, upward from 10,025 in 2013.
Pending experience and membership requirements, these successful candidates will become CFA charterholders starting in early October, bringing the number of charterholders worldwide to more than 125,000.
In addition, of 44,796 candidates who took the Level II exam, 46 per cent were successful and of 47,005 candidates who took the Level I exam, the pass rate was 42 per cent. Globally 54,768 candidates passed Levels I, II, and III, with the overall pass rate for all three levels at 46 per cent.
“The candidates that sit for the CFA exam each year are fine examples of those in finance who are committed to putting investors first and building a culture of trust in the industry,” said Steve Horan, managing director and co-lead of Education.
“Successful candidates have shown a significant commitment to professional knowledge, education and ethics, and are part of the CFA Institute effort to build a more trustworthy financial industry that better serves society. We congratulate these successful candidates on their hard work and dedication.”
The 2014 exams were given at 255 test centers in 196 cities, across 91 countries worldwide. Examples of markets with the largest number of candidates that took the CFA exam are the United States (29,625), China (19,395), India (9,516), Canada (10,161), the United Kingdom (8,134), Hong Kong (5,422), and Singapore (2,983). In Canada specifically, the Toronto test center is one of the largest globally, hosting more than 5,000 candidates on exam day.