From the CFA Institute’s website…June 2012 Exam Pass Rates
- Level I: 38%
- Level II: 42%
- Level III: Available 7 August
In June 2011 and December 2011 the pass rates for Level I were 39% and 38%, respectively.
The pass rates for Level II test-takers in those same months in 2011 were 43% and 47%.
Since 1963, the average pass rate for any of the levels is 47% [.PDF].
The CFA (Chartered Financial Analyst), which consists of three separate levels, is considered the most difficult test taken by Wall Streeters.
That’s because fewer than 20% of candidates pass all three tests on the first try and it takes the average CFA candidate four years to complete the entire program. Each level takes a solid six months to prepare for.
The CFA Institute said it will send out individual results sometime after 9 a.m. EST today. Those who took the Level III will have to wait until August 7th.