The pass rate for the second level of the chartered financial analyst exam slumped to just below its historic average.
(Bloomberg) — The pass rate for the second level of the chartered financial analyst exam slumped to just below its historic average.
In August, 44% of candidates passed the Level II test, down from 52% in May and unchanged from the success rate for test-takers who sat for the exam in November, the CFA Institute said Thursday. The latest results were close to the 10-year average of roughly 45% and well above the lows reached in 2021, when pandemic-spurred test-taking disruptions hurt success rates.
“While the pass rate for August dipped from the previous Level II exam, May of 2023 represented a spike, and the August results remain roughly in line with the 10-year average pass rate,” Chris Wiese, managing director for education at the institute, said in a statement. “As with the recent Level I results, we again see that deferred candidates struggled to keep up the requisite pace of studying.”
The pass rate for the first level of the CFA exam was also below its historic average, the CFA Institute said earlier this week, with 37% of August test-takers passing. The institute attributed the Level I decline to deferrals, encouraging candidates to stay on schedule when possible.
Read More: CFA Level I Pass Rate Declines to 37%, Below Historic Average
Almost 9,100 candidates sat for this August’s Level II exam, which was administered at 419 testing centers in 320 cities around the world. The institute historically offered the exam on paper, but transitioned to computer-based testing during the pandemic. Candidates who sat for Level III exams in August will receive their results on Oct. 25.
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