A record number of candidates signed up to take the Chartered Financial Analyst exam this weekend.
More than 170,000 people plan to sit for the exam’s three levels, compared with 160,000 who registered for the June 2015 exam. About 30,000 who sign up typically don’t end up taking the test.
The exam is popular among financiers seeking new jobs, higher salaries or a better understanding of the market. The first level is given in December and June; the final two are administered only in June. The pass rate for last year’s June exams were 42 percent for part one, 46 percent for level two and 53 percent for the final level, according to the Charlottesville, Virginia-based CFA Institute.
Candidates spend more than 300 hours on average studying for the test’s three levels, with more than 2,000 pages of curriculum for each. Passing all three phases typically takes four years with less than 1-in-5 candidates succeeding.
Yahoo! Finance reported the number of registrants earlier.