Photographer: Michael Nagle/Bloomberg

CFA Says Pass Rate for Level 2 Climbs to 47%, Highest Since 2006

A greater share of Chartered Financial Analyst candidates passed the second level of the three-part exam than in any year since 2006.

Forty-seven percent of applicants passed the middle leg in June, up from 46 percent in 2016, the Charlottesville, Virginia-based CFA Institute said Tuesday on Twitter. The pass rate for Level 1 was unchanged at 43 percent. Results from the third part of the exam will be published in August.

Almost 189,000 candidates signed up to take the test last month, compared with 170,000 from a year earlier. About 30,000 who register typically don’t show up.

Read more: CFA payoff elusive for legions crowding into its grueling exams

Financiers seek the CFA designation in hopes of gaining a better understanding of markets, as well as landing better jobs and higher salaries. Successful candidates study an average of 300 hours for each exam, and typically take four years to complete all three, according to the CFA Institute.

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