The CFA Institute announced Jan. 25 a pass rate of 36% for the 46,644 people worldwide who took the chartered financial analyst program, level one, exam in December, the first of three exams required to become a CFA.
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To earn the CFA designation, candidates must pass all three levels, have worked at least four years in the investment industry, sign a commitment to abide by the CFA Institute code of ethics, apply to an institute society and become a member of the CFA Institute.
Since 1963 the CFA Institute said, 44% of candidates have passed level one, 48% have passed level two, and 62% have passed level three.
