44% of professionals taking CFA exam pass

CFA Institute reports 44% of the 47,175 candidates that took the CFA Level I exam in December 2014 have passed.

Canada represented the fourth largest group to write the exam, trailing behind the U.S., China and India. The exam was administered in 92 test centers in 69 cities across 38 countries worldwide.

Read: A look at proficiency requirements

“Each year we see the continuing commitment by thousands of investment professionals around the world to raise the standards of excellence, ethics and education within the industry,” says Paul Smith, CFA, president and CEO of CFA Institute.

To earn the CFA designation, candidates must pass all three levels of exam (successful candidates often report dedicating in excess of 300 hours of study per level); have worked four years in the investment industry; sign a commitment to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct; and apply to a CFA Institute society, and become a member.

Read: CFA gets new CEO

Nearly a third of CFA Institute members expect employment opportunities to increase in their local markets, up from 14% in 2012, adds a CFA survey.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.