CFA Exam Produces 35% Pass Rate

The CFA Institute just released its December 2008 CFA (Chartered Financial Analyst) Level 1 exam results. Only 35% of those who took the test passed. eFinancialCareers has more:

A mere 35% of candidates who took the exam last December passed it, down from 39% in 2007.

Could it be that rather than succumbing to the dumbing down prevalent elsewhere in education, the CFA is actually making its exams harder? Or is it simply that more and more (low calibre) people are taking them?

We suspect it’s the latter. Between 2007 and 2008 alone, the number of people sitting Level 1 rose 25% to 36k, and candidates have increased 45% since 2003. With so many more entrants, the pass rate needs to remain low if the CFA is to retain any cachet. Expect it to fall even further in future.

Another question: Does passing the CFA make you a good investor?

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Business Notes

Ford stock jumped to $7.50/share today, after the company posted a surprise profit.

Apple is killing it with its new iMac, Magic Mouse, and Mac mini.

GM will shut down Saturn as a result of the collapsed Penske deal.

Google has purchased reCAPTCHA, which could help its text scanning project.

The postal service is offering workers up to $15,000 to leave their jobs.

... More Biznotes


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