More Canadians taking CFA level I exam

CFA Institute, the global association of investment management professionals, reports that 43% of candidates passed the chartered financial analyst (CFA) Level I exam in December 2016. The result aligns with recent annual pass rates.

In total, 59,627 people took the exam — 7% of them Canadians.

In Canada, 4,210 candidates sat for the exam, an increase of about 8% from 2015. (Globally, the increase in candidates was 14%.) The only countries with more candidates were China (14,181), the U.S. (12,187) and India (6,357) — all countries with significantly larger populations.

Across Canada, candidates were tested in Calgary, Montreal, Toronto and Vancouver. Toronto had the largest number of candidates, with 2,508. Montreal was second, with 649.

Read: How to get your CFA

Doing the work

It takes most candidates more than three years to complete the CFA program.

Candidates must pass three levels of exam. Successful candidates often report dedicating in excess of 300 hours of study per level.

Further, candidates must 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 the CFA Institute.

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Staff

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