The pass rate for the first level of the chartered financial analyst exam fell back below its historic average, a sign that test-takers may still be dealing with pandemic-related disruptions that became common after the Covid-19 outbreak.
(Bloomberg) — The pass rate for the first level of the chartered financial analyst exam fell back below its historic average, a sign that test-takers may still be dealing with pandemic-related disruptions that became common after the Covid-19 outbreak.
In August, 37% of candidates passed the Level I test, down from the 39% success rate for those who sat for the exam in May and 38% in February, the CFA Institute said Tuesday. The latest results fell further below the 41% average for the past decade, according to the institute, which said that test-takers who stayed on schedule have performed better than those who pushed off sitting for their exams.
“What we have seen over time is that those candidates who choose to defer seem to have a harder time retaining the materials and staying current in their studies,” Rob Langrick, senior head of the CFA program at the institute, said in an email. “Candidates who can stay on schedule tend to perform better.”
The latest results show a slide back toward the 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 August, which was administered at 467 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 August are scheduled to receive their results Thursday, the institute said, while Level III test-takers will get their results on Oct. 25.
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