CFA Institute announced that of 26,882 candidates that sat for the Level III CFA exam in June 2014, 54 percent passed the third and final exam. Pending experience and membership requirements, these successful candidates will become CFA charter holders starting in early October, bringing the number of charter holders worldwide to more than 125,000.
In addition, of 44,796 candidates who took the Level II exam, 46 percent were successful and of 47,005 candidates who took the Level I exam, the pass rate was 42 percent. Globally 54,768 candidates passed Levels I, II, and III, with the overall pass rate for all three levels at46 percent. (View historical pass rates).
In the Middle East North Africa (MENA) region, 3,221 candidates sat for the CFA exam in June, an increase of 4 percent compared to the prior year.
The United Arab Emirates had the largest concentration within the region, with 1,281 candidates and a 9 percent increase over 2013. The Kingdom of Saudi Arabia had 393 candidates, which was an increase of 10% over 2013. Lebanon (377 candidates), Egypt (345 candidates), Bahrain (277 candidates) and Kuwait (214 candidates) also had substantial participation.
“The candidates that sit for the CFA exam each year are fine examples of those in finance who are committed to putting investors first and building a culture of trust in the industry,” Steve Horan, CFA,CIPM, managing director and co-lead of Education, said.
“Successful candidates have shown a significant commitment to professional knowledge, education and ethics, and are part of the CFA Institute effort to build a more trustworthy financial industry that better serves society. We congratulate these successful candidates on their hard work and dedication.”
“These results show that investment practitioners and aspirants in the MENA region care greatly about ethics, education and professional excellence. The growing numbers taking CFA exams reflect the rising awareness of the value of the CFA Charter. The CFA designation signals to potential employers and their clients that the charter holder has acquired the necessary technical competence and an understanding of ethical obligations to be regarded as a worthy professional,” Nitin Mehta, CFA, managing director for Europe, Middle East and Africa at CFA Institute, said.