1963 - 2013B

CANDIDATE EXAMINATION RESULTS

CFA Candidates
Year
Total
1963
284
1964
1,732
1965
1,993
1966
2,010
1967
1,693
1968
1,579
1969
1,316
1970
1,409
1971
1,458
1972
1,486
1973
1,630
1974
1,797
1975
1,841
1976
1,706
1977
1,993
1978
2,008
1979
1,876
1980
1,985
1981
2,253
1982
2,886
1983
3,243
1984
4,030
1985
4,285
1986
4,837
1987
5,702
1988
7,091
1989
8,064
1990
8,760
1991
9,868
1992
10,518
1993
12,809
1994
15,413
1995
19,517
1996
24,600
1997
30,642
1998
38,689
1999
45,143
2000
53,345
2001
65,707
2002
76,231
2003A
67,279
2003B
20,657
2004A
61,559
2004B
19,566
2005A
58,908
2005B
21,127
2006A
63,249
2006B
28,082
2007A
71,897
2007B
37,573
2008A
92,081
2008B
49,797
2009A
104,116
2009B
44,209
2010A
111,731
2010B
46,785
2011A
115,027
2011B
49,380
2012A
119,446
2012B
48,981
2013A
118,142
2013B
45,693
1963-2013B
1,878,714
2004-2013B*
1,307,349
* 10 year average pass rate

% Pass
Total
94%
84%
1,241
83%
767
75%
621
83%
594
73%
592
74%
556
67%
644
69%
755
70%
731
60%
721
74%
862
75%
808
76%
634
74%
667
73%
925
76%
824
73%
949
71%
1,107
64%
1,532
65%
1,655
63%
2,075
67%
2,186
65%
2,366
62%
3,095
59%
3,927
62%
4,149
64%
4,415
62%
4,950
65%
5,002
59%
6,588
52%
8,445
52%
11,341
58%
14,381
55%
16,833
60%
21,744
60%
23,199
55%
27,625
54%
36,317
47%
43,882
49%
32,027
40%
20,657
40%
24,211
36%
19,566
48%
22,915
34%
21,127
52%
26,467
39%
28,082
33,599
42%
39%
37,573
42%
44,063
35%
49,797
45%
45,682
34%
44,209
42%
46,863
36%
46,785
43%
48,068
38%
49,380
43%
49,445
37%
48,981
42%
47,502
43%
45,693
46% 1,092,397
42%

Note:
A = June Examination (Levels I, II, and III)
B = December Examination (Level I only)

780,008

LEVEL I
Pass
Fail
986
255
649
118
481
140
423
171
412
180
409
147
424
220
464
291
466
265
432
289
604
258
568
240
457
177
421
246
596
329
522
302
602
347
677
430
903
629
1,082
573
1,199
876
1,317
869
1,405
961
1,782
1,313
2,174
1,753
2,237
1,912
2,658
1,757
3,087
1,863
2,928
2,074
3,616
2,972
4,087
4,358
5,750
5,591
7,627
6,754
8,847
7,986
12,855
8,889
14,757
8,442
14,314
13,311
17,726
18,591
19,106
24,776
13,478
18,549
8,214
12,443
8,262
15,949
7,128
12,438
8,138
14,777
7,276
13,851
10,602
15,865
10,905
17,177
13,294
20,305
14,831
22,742
15,311
28,752
17,612
32,185
21,034
24,648
14,884
29,325
19,656
27,207
17,009
29,776
18,881
29,187
18,736
30,644
18,968
30,477
18,106
30,875
18,078
29,424
19,469
26,224
458,922 633,475
298,180

481,828

Total
302
865
708
556
447
413
372
341
461
565
511
563
641
632
444
550
528
684
714
978
1,147
1,309
1,379
1,555
1,946
2,484
2,522
3,002
3,503
3,679
4,418
5,518
7,098
8,493
10,295
13,496
16,036
17,897
22,163
22,232

LEVEL II
Pass
Fail
283
19
678
187
469
239
496
60
334
113
322
91
285
87
253
88
354
107
324
241
377
134
421
142
477
164
510
122
379
65
460
90
407
121
580
104
489
225
637
341
701
446
965
344
884
495
995
560
1,163
783
1,590
894
1,594
928
1,618
1,384
2,258
1,245
2,061
1,618
2,109
2,309
2,535
2,983
4,596
2,502
5,011
3,482
6,433
3,862
7,329
6,167
8,636
7,400
8,322
9,575
10,418
11,745
10,432
11,800

% Pass
0%
94%
78%
66%
89%
75%
78%
77%
74%
77%
57%
74%
75%
74%
81%
85%
84%
77%
85%
68%
65%
61%
74%
64%
64%
60%
64%
63%
54%
64%
56%
48%
46%
65%
59%
62%
54%
54%
46%
47%
47%

Total
284
189
361
681
543
540
347
393
362
294
344
424
470
431
694
639
502
508
462
640
610
808
790
1,092
1,052
1,218
1,431
1,823
1,916
2,013
2,542
2,550
2,658
3,121
5,316
6,650
8,448
9,684
11,493
10,186
13,020

LEVEL III
Pass
Fail
268
16
179
10
329
32
563
118
491
52
414
126
237
110
238
155
288
74
214
80
222
122
355
69
393
77
363
68
540
154
481
158
441
61
437
71
340
122
469
171
392
218
658
150
579
211
845
247
755
297
864
354
1,133
298
1,360
463
1,436
480
1,658
355
1,936
606
1,859
691
1,860
798
1,999
1,122
3,119
2,197
3,895
2,755
5,015
3,433
6,274
3,410
9,410
2,083
5,924
4,262
8,816
4,204

% Pass
0%
79%
85%
77%
71%
70%
74%
66%
61%
64%
60%
70%
70%
72%
63%
64%
63%
63%
61%
59%
65%
58%
60%
59%
58%
55%
54%
60%
62%
59%
55%
48%
51%
53%
53%
59%
64%
52%
49%
44%
42%
40%
34%
36%
36%
34%
40%
39%
40%
39%
35%
35%
46%
34%
42%
36%
39%
38%
38%
37%
38%
43%
42%

% Pass
94%
95%
91%
83%
90%
77%
68%
61%
80%
73%
65%
84%
84%
84%
78%
75%
88%
86%
74%
73%
64%
81%
73%
77%
72%
71%
79%
75%
75%
82%
76%
73%
70%
64%
59%
59%
59%
65%
82%
58%
68%

44,874

19,311

25,563

43%

25,766

12,607

13,159

49%

506,403

235,323

271,080

46%

279,914

164,756

115,158

59%

38%

344,956

147,138

197,818

43%

182,385

97,707

84,678

54%

23,896

7,649

16,247

32%

13,452

8,669

4,783

64%

24,891

13,938

10,953

56%

11,102

6,083

5,019

55%

20,499

9,751

10,748

48%

16,283

12,314

3,969

76%

25,521

10,156

15,365

40%

12,777

6,399

6,378

50%

33,449

15,243

18,206

46%

14,569

7,720

6,849

53%

38,998

15,892

23,106

41%

19,436

9,597

9,839

49%

43,406

16,995

26,411

39%

21,462

9,881

11,581

46%

44,175

19,009

25,166

43%

22,784

11,567

11,217

51%

45,247

19,194

26,053

42%

24,754

12,870

11,884

52%