(Bloomberg) -- The pass rate for the Chartered Financial Analyst Level II exam fell from last year's decade high.
Forty-five percent of applicants passed the test in June, down from 47 percent in 2017, according to an email sent to one of the successful candidates. The pass rate for Level I remained at 43 percent for a second straight year, an email sent to one of those test-takers shows. Results for the third portion of the exam will be released in two weeks.
An official at the CFA Institute didn't immediately return a call for comment.
More than 227,000 candidates signed up to take the three levels of the CFA exam this year. That was a record and a 20 percent surge from last year, according to the institute. On average about 30,000 who register don't show up.
Passing the CFA exam can lead to higher salaries and better job opportunities. Candidates study an average of 300 hours for each exam and typically take four years to complete the series.
--With assistance from Linly Lin.
To contact the reporter on this story: Emma Kinery in New York at ekinery@bloomberg.net
To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Steve Dickson, Peter Eichenbaum
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