China Out Front In CFA Institute Exam Stakes

Tom Burroughes

9 August 2017

Mainland China led the way for the number of financial professionals sitting third-level exams, ahead of the US, while Brazil and India also figured prominently.

The CFA Institute, a global association of investment management professionals, has announced that from the 31,631 candidates who sat for the Level III CFA® Program exam in June, just over half (54 per cent) passed the third and final exam.

The successful candidates become CFA® charter-holders starting in early October, pending verification of professional experience and other membership requirements. They will join more than 142,000 charter-holders worldwide.

The number of candidates who sat for the Level III exam this exam cycle grew by nearly 10% globally, year-over-year, capping a 28 per cent increase in Level III candidates over the last five years, the CFA Institute said.

The three fastest growing markets are outside of the United States with the strongest growth in mainland China where 33,934 candidates sat for the exams, surpassing the number in the US for a second straight year. Growth also was notable in India where candidates tested increased by over 20 per cent and in Brazil by over 16 per cent, compared to 2016.

Of 56,939 candidates who sat for the Level II exam in June, 47 per cent were successful. Of 63,283 candidates who took the Level I exam, the pass rate was 43 per cent. These candidates will continue on their journey to becoming CFA charter-holders.