CFA Pass Rate Slumps to Record Low as Pandemic Upends Tests
- Low success rate stems from date changes amid restrictions
- Just 42% passed exam’s third level, smallest percentage ever
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The pass rate for the final level of the chartered financial analyst exam plunged to a historic low after the Covid-19 pandemic played havoc with candidates’ preparations for the test.
Only 42% of applicants passed Level III in May and June, the lowest ever for the exam, which has been administered since 1963, according to the Charlottesville, Virginia-based CFA Institute. It was the first time the final part of the exam was given using computers, and the success rate was down from 56% in December, when it was still administered on paper.