CFA Institute Reports Results for CFA Program Level II Testing in May 2024

CFA Institute Reports Results for CFA Program Level II Testing in May 2024

New York City, United States02 Jul 2024

"My congratulations to everyone receiving news of their exam success today", said Chris Wiese, CFA, Managing Director, Education, at CFA Institute. "We note a pass rate of 59 percent for this Level II cohort, well above the 10-year average of 45 percent. Over time, we have seen occasional pass-rate spikes; however, the exam difficulty remains consistent."

"We saw fewer candidates who had previously deferred an exam sit for Level II, which positively impacted the pass rate," Wiese said. "First-time testers scored really well, with a pass rate of 67 percent. Candidates who sat their exam having deferred one or more times had an average passing rate of 39 percent, but, as noted, there were fewer deferred candidates in this cohort."

"Further, we see more students enrolling in the CFA Program while in college," Wiese added. "These candidates are especially well suited to advance since they are already in an academic mindset. We encourage all candidates to focus on the study habits that lead to successful outcomes on the CFA exams. Preparation remains the key predictor of exam success."

Successful Level II candidates wishing to pass swiftly to their third and final CFA Program exam may now register for the February 2025 examination window.

An Evolving CFA Program

Candidates sitting the CFA Program Level II exam in May were the first Level II cohort to benefit from new Practical Skills Modules. The required modules allow candidates to apply curriculum learnings to real-world, on-the-job scenarios through 10-20 hours of video content and practice case studies. Modules are accessed via the candidate Learning Ecosystem.

About the CFA Program
Enrolling in the CFA Programand earning the CFA charter prepares individuals for a variety of career pathsin every sector of the global finance industry. Candidates can access all the essential study tools through the Learning Ecosystem including mock exams and the newly introduced Practical Skills Modules. Candidates preparing to sit for an exam may find CFA Exam Study Tips helpful. Formore about the CFA Program, visit: CFA Program Evolution.

About Specialized Pathways

Beginning with the February 2025 Level III exams, candidates will be able to choose one of three focused pathways: (i) Portfolio Management (the traditional version of Level III), (ii) Private Wealth, or (iii) Private Markets. A common core of study will exist for all three specialized pathways at Level III. All three pathways will be equally rigorous and in pursuit of one credential: the CFA charter. The CFA charter will not statewhich pathway was taken. Completion of a Practical Skills Module will be required. For more about the incoming specialized pathways, visit CFA Program Evolution.

About CFA Institute

As the global association of investment professionals, CFA Institute sets the standard for professional excellence and credentials. We champion ethical behavior in investment markets and serve as the leading source of learning and research for the investment industry. We believe in fostering an environment where investors' interests come first, markets function at their best, and economies grow. Spanning nearly 200,000 charterholdersworldwide across 160 markets, CFA Institute has 10 offices and 160 local societies. Find us at www.cfainstitute.org or follow us on LinkedIn and X at @CFAInstitute.

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