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Less than half pass CFA Institute exams in June

The CFA Institute announced today that just 45 percent of candidates worldwide passed the June 2009 CFA exams, of a total 104,111 who sat for the qualification.

In Europe 50 per cent of the 17,860 candidates achieved a pass in the CFA charter, which consists of three six-hour exams.

The CFA curriculum includes ethical and professional standards, financial reporting and analysis, corporate finance, economics, quantitative methods, equity, fixed income, and alternative investments, derivatives, portfolio management and wealth planning.

The 2009 exams were given at 256 test centers in 182 cities worldwide.

The Level I global pass rate was 46 percent and the Level II global pass rate was 41 percent. Of the 19,436 individuals who took the final exam in June 2009, 49 percent passed.

The CFA Institute says it expects the majority of those candidates who passed the Level III exam will become CFA charterholders later this year, bringing the number of charterholders worldwide to nearly 90,000.

CFA Institute president and chief executive John Rogers says: “We are encouraged by the number of investment professionals who have committed themselves to this rigorous programme. We believe that financial education and professional ethics training, which are at the heart of the CFA program, are cornerstones of future financial market stability. It is gratifying to see this strong level of demand for the CFA charter.”



Will the FSA clamp down on bank advice?

Evidence of inappropriate investment advice being doled out by the banks is increasingly emerging from consumers, IFAs, trade bodies and now the Financial Ombudsman Service.

Directory lists adviser websites

IFA Life is setting up a directory of advisers’ websites that will allow consumers to search for IFAs by location. Advisers can list their website free.

Friends in need?

Resolution’s acquisition of Friends Provident paves the way for further consolidation in the life sector but advisers have raised concerns over the service levels their clients may receive as a result.

Europe: why persist with value today?

By Rob Burnett, Neptune’s Head of European Equities The Neptune European Opportunities Fund remains committed to a value bias. We see a broadening array of opportunities in diversified industries at compelling valuations today. The most complicated part of the market is the European banks. We are currently overweight in this sub-sector as many banks are […]


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