Many young Wall Streeters are probably freaking this morning, and it’s not because of the snow.
It’s because the CFA (Chartered Financial Analyst) Level I test results are coming out.
The CFA Institute said they emailed out the results, which also became available on their website at 9 a.m. ET.
According to the CFA Institute, more than 44% of the he 47,175 December test-takers passed Level 1. That’s a higher pass rate than usual, but most of the test-takers still failed.
Consisting of three levels, the CFA program is considered to be the hardest series of exams on Wall street. Fewer than 20% of candidates pass all three tests on the first try. It takes about four years to complete the program.
The average test-taker spends about six months preparing, putting in about 20 hours a week to study the exam materials for each level.
Congrats to those who passed!