CFA Level II Pass Rate Drops to 44%, Below the Decade Average

The pass rate for the second level of the chartered financial analyst test fell below the decade average as candidates who stayed on schedule continued to outperform peers who put off the exam.

In August, 44% of candidates sitting for the Level II test were successful, down from a 54% pass rate for those who took the test in May but up from 39% for November test-takers, the CFA Institute said in a statement Thursday.