Investment Professionals Around the World Pass CFA® Program Exams

NEW YORK, February 17, 2021 / PRNewswire / – The CFA Institute, the global association of investment management professionals, reports that 6,290 of the 11,330 Level III candidates who wrote the CFA exams administered in december 2020 have passed, successfully passing all three levels to become a charter holder. 12,806 of the 26,212 Level I candidates passed, and 10,025 of the 18,136 Level II candidates passed, moving to the next level.

“I warmly congratulate the candidates who were able to sit for the December exams and pass their respective levels,” said Marguerite Franklin, CFA, President and CEO, CFA Institute. “It is a tribute to the resilience and dedication of these candidates for persevering in their exam preparation amid all the uncertainties brought about by the pandemic. Well done to all the candidates who move on to the next level of exams and to those who are now in the process of obtaining their CFA charter.

To obtain the CFA charter, applicants must pass all three levels of the exam, which is considered one of the most rigorous in the global investment management profession; meet the work experience requirements; agree to abide by the code of ethics and standards of professional conduct of the CFA Institute; and become a member of the CFA Institute. Successful applicants take an average of four years to complete the CFA program.

Peg job, Executive Director of Accreditation at the CFA Institute, commented, “The CFA Institute uses rigorous and industry-accepted processes to ensure that we maintain a consistent and fair standard of success. Those who were successful in December did so because of their persistence in the face of unprecedented conditions. We anticipate that the success rate may remain higher as the pandemic continues due to applicants’ extended preparation time. “

Due to the impact of the coronavirus pandemic, exams could only be administered in certain markets due to the lack of available facilities and public health regulations. As a result, the December exam was administered at 170 testing centers in 91 cities in 50 markets around the world. See historical success rates.

Applicants to the CFA level I and II program received their results on January 28, 2021, and Level III candidates received their results on February 17, 2021. Today, more than 167,000 professionals around the world hold the CFA® charter.

As previously announced, the three levels of the CFA exams are passed to computerized tests from February 2021 for more test flexibility in terms of dates, places and candidate reservations. The December exams were the last paper exams.

The CFA Institute continues to monitor local health policies across the world, closely monitoring developments and will adapt future review plans as necessary. Throughout this period, the CFA Institute remains committed to maintaining the relevance and level of success of the CFA Charter, as well as the rigor and security of exam development and delivery.

The CFA program is designed for industry professionals. The program covers ethical and professional standards, securities analysis and valuation, analysis of international financial statements, quantitative methods, economics, corporate finance, portfolio management, wealth management and portfolio analysis. Learn more about the CFA program and the last on exam status.

CFA Institute

The CFA Institute is the global association of investment professionals that sets the standard for excellence and professional credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment in which the interests of investors come first, markets work best and economies grow. There are more than 160,000 CFA in the world in 164 markets. CFA Institute has nine offices around the world and there are 161 local member companies. For more information visit or follow us on Twitter at @cfainstitute and on

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