More than half fail CFA exam

Forty-three percent of the 45,693 candidates who took the CFA Level I exam in December 2013 have passed, according to the CFA Institute.

And Canadians came out in droves, with 3,554 writing the exam. They’re the fourth largest group, trailing only the United States (10,317), Mainland China (7,823) and India (4,179).

Read: CFAs upbeat on global outlook

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); meet the work experience requirements of four years in the investment industry; sign a commitment to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct; apply to a CFA Institute society; and become a member of CFA Institute.

The CFA Program covers ethical and professional standards, securities analysis and valuation, international financial statement analysis, quantitative methods, economics, corporate finance, portfolio management, and performance measurement.

Level I exams are offered in both June and December and Levels II and III are offered only in June. It takes most candidates more than three years to complete the CFA Program.

Also read:

Many execs say “flexible” ethics required to get ahead

CFA exam continues to be a challenge

Staff

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