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CFA Level I Pass Rate Inches Closer to Norm After Pandemic Lows

  • First-test success hits 38%, below the decade average of 41%
  • Institute says candidates beginning to move at normal pace

Photographer: Chris Ratcliffe/Bloomberg

The pass rate for the first level of the chartered financial analyst exam continued to move up from the historic lows set last year, when the pandemic disrupted testing.

In May, 38% of candidates passed the Level I test, up from a 36% success rate for those who sat for the exam in February and 27% in November, the CFA Institute said Thursday. The average pass rate for the past decade is about 41%, according to the association.