(Bloomberg) - The pass rate for the first level of the chartered financial analyst exam inched closer to its historic average, with test-takers benefiting from another period free of the pandemic-related disruptions that became common after the Covid-19 outbreak.
In May, 39% of candidates passed the Level I test, up slightly from a 38% success rate for those who sat for the exam in February and 36% in November, the CFA Institute said Tuesday. The latest results are closer to though still below the 41% average for the past decade, according to the institute. It was the second test period unaffected by Covid-19 since the virus emerged.
“We were again pleased to see no pandemic-related disruptions to exams, helping ensure that candidates stay on track with their studies,” Chris Wiese, managing director for education at the institute, said in a statement.
The latest results show improvement from historically low pass rates across all levels of the CFA exam in 2021. More than 23,000 candidates sat for the Level I exam in May, which was administered at 369 testing centers around the world. Historically, the institute offered the exam on paper, but transitioned to computer-based testing during the pandemic.
Those who took Level II of the exam in May are scheduled to get their results on July 6, the institute said.
By Katherine Doherty
