A record 54 percent of candidates
for the third and final part of the Chartered Financial Analyst
exam failed after the number of applicants more than doubled in
the past 10 years.
Of the 21,462 people who took the test in June, 9,880
passed and 11,582 failed, according to a statement today from
the Charlottesville, Virginia-based CFA Institute. The pass rate
of 46 percent declined from last year’s 49 percent. In 1963, the
first year the exam was offered, 94 percent were successful.
Applicants sign up betting that the CFA designation will
lead to a greater understanding of finance and a higher salary
as Wall Street continues to hire more workers. New York City
financial firms added 6,900 employees from the end of February
through June, compared with an 11,000 loss during the same
period last year.
“While pass rates in the last decade are lower than in the
early decades of the program, there is a much larger pool of
candidates pursuing the designation and today’s capital markets
are more complex,” :S:d1&partialfields=-wnnis:NOAVSYND&lr=-lang_ja" title="Search News">Tom Robinson, the Institute’s managing
director of education, said in the statement.
The Level 3 exam includes a series of essay questions and
is the final part of a process that typically takes candidates
four years to complete, according to the Institute, which
recommends 300 hours of study for each of the three tests.
In July, the not-for-profit organization said 42 percent of
62,300 applicants passed the exam’s first stage, down from 46
percent on the June 2009 exam. Level 2 results were also down,
with 39 percent of 52,500 applicants passing compared with 41
percent a year earlier.
The Institute formed in 1990 with the merger of the
Institute of Chartered Financial Analysts and the Financial
Analysis Federation. The CFA program, previously administered by
the ICFA, started in 1963 with 284 applicants. It stems in part
from :S:d1&partialfields=-wnnis:NOAVSYND&lr=-lang_ja" title="Search News">Benjamin Graham, a pioneer of value investing who mentored
:S:d1&partialfields=-wnnis:NOAVSYND&lr=-lang_ja" title="Search News">Warren Buffett and advocated a rating system for financial
analysts.
To contact the reporter on this story:
:S:d1&partialfields=-wnnis:NOAVSYND&lr=-lang_ja" title="Search News">Donal Griffin in New York at
griffin10@bloomberg.net" title="Send E-mail">Dgriffin10@bloomberg.net.
http://www.bloomberg.com/news/2010-08-16/cfa-level-iii-pass-rate-declines-to-46-as-record-number-sign-up-for-exam.html
发表于 2010-8-17 21:32
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