Wall Street's Hardest Exam Results Are Out, And It Looks Like A Ton Of People Are Going To Be Hurting

The Chartered Financial Analyst exam results are out

For the June 2013 Level I and Level II CFA exam, 38% of Level I candidates passed and 43% of Level II candidates passed.

The results are right in line with the 10-year historical average.

Since 1963, the average pass rate for Level I is 42% and Level II and 47%. [.PDF]

The CFA, which consists of three levels, is considered to be the most difficult series of tests taken by finance professionals.

Fewer than 20% of candidates pass all three exams on the first attempt.

What’s more is it takes the average CFA candidate four years to finish the program.  The average test-taker also spends six months preparing with about 20 hours of week committed to studying for the exam.

Good luck to everyone receiving their results today. Congratulations to those of you who passed.  

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