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CFA Pass Rates

This document provides CFA examination results from 1963 to 2016, including: - The total number of CFA candidates and pass rates for Levels I, II, and III each year - 10-year average pass rates for Levels I, II, and III from 2007-2016 were 40%, 47%, and 58% respectively - The number of candidates and pass rates have generally increased each year, with over 50,000 candidates sitting for Level I in 2016 - Pass rates for Levels I and II have typically been in the 40-60% range, while Level III pass rates have been higher in the 50-60% range

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208 views1 page

CFA Pass Rates

This document provides CFA examination results from 1963 to 2016, including: - The total number of CFA candidates and pass rates for Levels I, II, and III each year - 10-year average pass rates for Levels I, II, and III from 2007-2016 were 40%, 47%, and 58% respectively - The number of candidates and pass rates have generally increased each year, with over 50,000 candidates sitting for Level I in 2016 - Pass rates for Levels I and II have typically been in the 40-60% range, while Level III pass rates have been higher in the 50-60% range

Uploaded by

Portia
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

1963 - 2016A

CANDIDATE EXAMINATION RESULTS

Year

CFA Candidates
Total

1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003A
2003B
2004A
2004B
2005A
2005B
2006A
2006B
2007A
2007B
2008A
2008B
2009A
2009B
2010A
2010B
2011A
2011B
2012A
2012B
2013A
2013B
2014A
2014B
2015A
2015B
2016A
1963-2016A

% Pass

Total

LEVEL I
Pass

Fail

% Pass

284
1,732
1,993
2,010
1,693
1,579
1,316
1,409
1,458
1,486
1,630
1,797
1,841
1,706
1,993
2,008
1,876
1,985
2,253
2,886
3,243
4,030
4,285
4,837
5,702
7,091
8,064
8,760
9,868
10,518
12,809
15,413
19,517
24,600
30,642
38,689
45,143
53,345
65,707
76,231
67,279
20,657
61,559
19,566
58,908
21,127
63,249
28,082
71,897
37,573
92,081
49,797
104,116
44,209
111,731
46,785
115,027
49,380
119,446
48,981
118,142
45,693
118,683
47,175
125,443
52,315
137,791
2,360,121

94%
84%
83%
75%
83%
73%
74%
67%
69%
70%
60%
74%
75%
76%
74%
73%
76%
73%
71%
64%
65%
63%
67%
65%
62%
59%
62%
64%
62%
65%
59%
52%
52%
58%
55%
60%
60%
55%
54%
47%
49%
40%
40%
36%
48%
34%
52%
39%
42%
39%
42%
35%
45%
34%
42%
36%
43%
38%
43%
37%
42%
43%
46%
44%
46%
43%
46%
46%

1,241
767
621
594
592
556
644
755
731
721
862
808
634
667
925
824
949
1,107
1,532
1,655
2,075
2,186
2,366
3,095
3,927
4,149
4,415
4,950
5,002
6,588
8,445
11,341
14,381
16,833
21,744
23,199
27,625
36,317
43,882
32,027
20,657
24,211
19,566
22,915
21,127
26,467
28,082
33,599
37,573
44,063
49,797
45,682
44,209
46,863
46,785
48,068
49,380
49,445
48,981
47,502
45,693
47,005
47,175
51,134
52,315
58,677
1,348,703

986
649
481
423
412
409
424
464
466
432
604
568
457
421
596
522
602
677
903
1,082
1,199
1,317
1,405
1,782
2,174
2,237
2,658
3,087
2,928
3,616
4,087
5,750
7,627
8,847
12,855
14,757
14,314
17,726
19,106
13,478
8,214
8,262
7,128
8,138
7,276
10,602
10,905
13,294
14,831
15,311
17,612
21,034
14,884
19,656
17,009
18,881
18,736
18,968
18,106
18,078
19,469
19,592
20,589
21,303
22,274
25,093
567,773

255
118
140
171
180
147
220
291
265
289
258
240
177
246
329
302
347
430
629
573
876
869
961
1,313
1,753
1,912
1,757
1,863
2,074
2,972
4,358
5,591
6,754
7,986
8,889
8,442
13,311
18,591
24,776
18,549
12,443
15,949
12,438
14,777
13,851
15,865
17,177
20,305
22,742
28,752
32,185
24,648
29,325
27,207
29,776
29,187
30,644
30,477
30,875
29,424
26,224
27,413
26,586
29,831
30,041
33,584
780,930

0%
79%
85%
77%
71%
70%
74%
66%
61%
64%
60%
70%
70%
72%
63%
64%
63%
63%
61%
59%
65%
58%
60%
59%
58%
55%
54%
60%
62%
59%
55%
48%
51%
53%
53%
59%
64%
52%
49%
44%
42%
40%
34%
36%
36%
34%
40%
39%
40%
39%
35%
35%
46%
34%
42%
36%
39%
38%
38%
37%
38%
43%
42%
44%
42%
43%
43%
42%

2007-2016A*
1,536,265
* 10 year average pass rate

42%

893,946

354,720

539,226

40%

Note:
A = June Examination (Levels I, II, and III)
B = December Examination (Level I only)

Total

LEVEL II
Pass

302
865
708
556
447
413
372
341
461
565
511
563
641
632
444
550
528
684
714
978
1,147
1,309
1,379
1,555
1,946
2,484
2,522
3,002
3,503
3,679
4,418
5,518
7,098
8,493
10,295
13,496
16,036
17,897
22,163
22,232

283
678
469
496
334
322
285
253
354
324
377
421
477
510
379
460
407
580
489
637
701
965
884
995
1,163
1,590
1,594
1,618
2,258
2,061
2,109
2,535
4,596
5,011
6,433
7,329
8,636
8,322
10,418
10,432

23,896

Fail

% Pass
-

Total

LEVEL III
Pass

Fail

% Pass

19
187
239
60
113
91
87
88
107
241
134
142
164
122
65
90
121
104
225
341
446
344
495
560
783
894
928
1,384
1,245
1,618
2,309
2,983
2,502
3,482
3,862
6,167
7,400
9,575
11,745
11,800

0%
94%
78%
66%
89%
75%
78%
77%
74%
77%
57%
74%
75%
74%
81%
85%
84%
77%
85%
68%
65%
61%
74%
64%
64%
60%
64%
63%
54%
64%
56%
48%
46%
65%
59%
62%
54%
54%
46%
47%
47%

284
189
361
681
543
540
347
393
362
294
344
424
470
431
694
639
502
508
462
640
610
808
790
1,092
1,052
1,218
1,431
1,823
1,916
2,013
2,542
2,550
2,658
3,121
5,316
6,650
8,448
9,684
11,493
10,186
13,020

268
179
329
563
491
414
237
238
288
214
222
355
393
363
540
481
441
437
340
469
392
658
579
845
755
864
1,133
1,360
1,436
1,658
1,936
1,859
1,860
1,999
3,119
3,895
5,015
6,274
9,410
5,924
8,816

16
10
32
118
52
126
110
155
74
80
122
69
77
68
154
158
61
71
122
171
218
150
211
247
297
354
298
463
480
355
606
691
798
1,122
2,197
2,755
3,433
3,410
2,083
4,262
4,204

94%
95%
91%
83%
90%
77%
68%
61%
80%
73%
65%
84%
84%
84%
78%
75%
88%
86%
74%
73%
64%
81%
73%
77%
72%
71%
79%
75%
75%
82%
76%
73%
70%
64%
59%
59%
59%
65%
82%
58%
68%

7,649

16,247

32%

13,452

8,669

4,783

64%

24,891

13,938

10,953

56%

11,102

6,083

5,019

55%

20,499

9,751

10,748

48%

16,283

12,314

3,969

76%

25,521

10,156

15,365

40%

12,777

6,399

6,378

50%

33,449

15,243

18,206

46%

14,569

7,720

6,849

53%

38,998

15,892

23,106

41%

19,436

9,597

9,839

49%

43,406

16,995

26,411

39%

21,462

9,881

11,581

46%

44,175

19,009

25,166

43%

22,784

11,567

11,217

51%

45,247

19,194

26,053

42%

24,754

12,870

11,884

52%

44,874

19,311

25,563

43%

25,766

12,607

13,159

49%

44,796

20,644

24,152

46%

26,882

14,535

12,347

54%

46,841

21,509

25,332

46%

27,468

14,664

12,804

53%

50,230
648,270

23,321
300,797

26,909
347,473

46%
46%

28,884
363,148

15,606
209,561

13,278
153,587

54%
58%

417,537

181,274

236,263

43%

224,782

115,446

109,336

51%

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