CFA Institute, an association of investment professionals, said about 53 per cent of the more than 27,000 candidates who sat for the Level III CFA exam in June passed the third and final exam.

 

These candidates will become CFA charterholders in early October pending experience and membership requirements, said a statement.

 

In addition, about 46 per cent of the 46,841 candidates who took the Level II exam were successful and 42 per cent of the 51,134 candidates who took the Level I exam passed.

 

Globally, more than 57,000 candidates passed Levels I, II, and III, with the overall pass rate for all three levels at 46 per cent. 

 

Less than one in five candidates who begin the programme end up finishing, which is testament to the determination and mastery of professional competencies demonstrated by successful Level III candidates, said the statement.

 

In the Middle East and North Africa (Mena) region, more than 3,400 candidates sat for the CFA exam in June, an increase of seven per cent compared to the prior year. 

 

The UAE had the largest concentration within the region, followed by Saudi Arabia, Lebanon, Egypt, Bahrain, Kuwait and Qatar.

 

Paul Smith, president and chief executive officer, has challenged investment professionals to make more of an impact for investors and society, in order to advance the value of the global profession and make the world a better place for investors. 

 

Smith called on all participants in investment management to demonstrate what it means to be a profession by promoting the highest standards of education and professional conduct; develop professionalism at every level; and advocate for policy and thought leadership that benefits investors and society at large.

 

“Investors have the right to be served by ethical professionals who act as stewards of their investments,” said Smith.

 

“As professionals and through their dedication and commitment to the CFA Program and the CFA Institute code of ethics, today’s successful candidates join us in our pursuit to build professionalism, raise standards, and prove the value of the investment profession. If we all work together to nurture a culture of ethical behavior, investor protection, and market integrity, we can make a difference.” - TradeArabia News Service