CFA Final Exam Pass Rate Falls to 48%, Below the Decade Average

The pass rate for the final level of the chartered financial analyst exam fell further below the decade average, while first-time test takers continued to have a higher success rate than those who delayed their exams.

In August, 48% of candidates passed the Level III test, down from 49% for those who sat for it in February, but up from 47% a year earlier, the CFA Institute said Thursday. The results remain below the 52% average for the past decade, according to historic pass rates.