According to Financial Planning, 43 percent of candidates completed the Chartered Financial Analyst exam series. This is the third-lowest pass rate for the Level III exam and below the 10-year average of 52 percent.
Peg Jobst, managing director for credentialing at the CFA Institute, offered the following explanation: "Research shows that the longer the gap between sitting for exams, the lower the chances for success. This has often been beyond anyone's control."
To become a charter holder, a candidate must pass all three exams and meet specific work experience requirements. The Level III exam consists of eight to 11 vignettes with accompanying multiple-choice and essay questions and takes almost four and a half hours to complete, with a break halfway through.
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