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30,628 Investment Professionals Worldwide Pass Level I CFA Program Exam

New York City, United States 30 Jan 2020

CFA Institute, the global association of investment management professionals, reports that 42 percent of the 73,688 candidates who took the December 2019 Level I Chartered Financial Analyst® (CFA®) exam have passed. These successful candidates now progress to Level II of the CFA® Program, the second of three exams toward earning the CFA® charter, one of the most respected and recognized investment management credentials in the world.

“Congratulations to all of the successful candidates,” said Margaret Franklin, CFA, president and CEO of CFA Institute. “They are well on their way to achieving an incredibly valuable credential that will attest to their commitment to professional excellence and upholding the highest standards of ethics in investment management.” 

To earn the CFA charter, candidates must pass all three levels of the exam, which is considered to be one of the most rigorous in the investment profession; meet the work experience requirements of four years in the investment industry; sign a commitment to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct; and become a member of CFA Institute. Fewer than one in five candidates who begin the program end up successfully earning the CFA charter. Successful candidates take an average of four years to complete the CFA Program.

The December Level I CFA exam was administered in 134 test centers in 87 cities across 46 markets worldwide. The exam was offered for the first time in two new cities in Asia - China, in Chongqing, and India, in Jaipur, attracting over 739 candidates between them. The 10 markets with the largest number of Level l CFA Program candidates tested were:

Chart - Top 10 CFA Markets 2019

Level I CFA Program candidate representation from around the world remained diverse with 59 percent (43,659) of candidates coming from Asia Pacific, 23 percent (16,969) coming from the Americas region and 18 percent (13,060) from the Europe, Middle East and Africa region.

The CFA Program is tailored to professionals across the industry, and annual updates to the curriculum ensure that the CFA charter remains the global industry standard. The curriculum covers ethical and professional standards, securities analysis and valuation, international financial statement analysis, quantitative methods, economics, corporate finance, portfolio management, wealth management and portfolio analysis. Learn more about the CFA Program.

CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 170,000 CFA charterholders worldwide in 162 markets. CFA Institute has nine offices worldwide and there are 158 local member societies. For more information, visit www.cfainstitute.org or follow on Twitter at @CFAInstitute and on Facebook.com/CFAInstitute.