Most of the Level I and II CFA (Chartered Financial Analyst) June test-takers are probably freaking out this morning as they constantly check their email for results.The CFA Institute said they’ll send the results at 9:00 AM EST today.
One Twitter user tweeted, “CFA results come out today That should be a nice kick to my nuts.”
Another tweeted, “anxiously awaiting CFA test results that are out in 53 minutes.”
Clearly, people are anxious on The Street.
The thing is most of the test-takers will probably fail the gruelling six-hour long exam.
In June 2011 and December 2011 the pass rates for Level I were 39% and 38%, respectively. For Level II test-takers in those same months the pass rates were 43% and 47%.
What’s more is since 1963, the average pass rate for any of the levels is 47% [.PDF].
Of course, the CFA is no walk in the park.
Consisting of three levels, the CFA is considered to be the most difficult series of exams taken by Wall Streeters with fewer than 20% of candidates passing all three tests on the first try. It takes the average CFA candidate four years to complete the entire program.
The average test-taker also spends a solid six months preparing committing around 20 hours per week to studying the exam materials.
Level I and II test-takers will receive their results sometime after 9 a.m. this morning. The results will be posted on the CFA Institute ‘s website tomorrow.
Meanwhile, the Level III test-takers have to wait until August 7th.
Good luck everyone!