It is interesting to note that CFA pass rate has considerably declined over the years. It amounted to as much as 94% at the time of inception in 1963, and as little as 42% for the June exam of 2007. Of course, the total number of exam-takers has grown around 250 times, so these pass rates are not completely comparable, but the shift is considerable enough to show a clear trend. Is it the exam becoming more difficult, or the exam-takers are getting dumber? Let's just hope that I am one of the few lucky among the 42% when I receive my exam results in about two months... Original data is available at CFA Institute official site at the following URL: http://www.cfainstitute.org/cfaprog/pdf/candidate_results.pdf
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