1963-2015B Exam Pass Rates
1963-2015B Exam Pass Rates
1963-2015B Exam Pass Rates
Year
CFA Candidates
Total
% Pass
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003A
2003B
2004A
2004B
2005A
2005B
2006A
2006B
2007A
2007B
2008A
2008B
2009A
2009B
2010A
2010B
2011A
2011B
2012A
2012B
2013A
2013B
2014A
2014B
2015A
2015B
1963-2015B
284
1,732
1,993
2,010
1,693
1,579
1,316
1,409
1,458
1,486
1,630
1,797
1,841
1,706
1,993
2,008
1,876
1,985
2,253
2,886
3,243
4,030
4,285
4,837
5,702
7,091
8,064
8,760
9,868
10,518
12,809
15,413
19,517
24,600
30,642
38,689
45,143
53,345
65,707
76,231
67,279
20,657
61,559
19,566
58,908
21,127
63,249
28,082
71,897
37,573
92,081
49,797
104,116
44,209
111,731
46,785
115,027
49,380
119,446
48,981
118,142
45,693
118,683
47,175
125,443
52,315
2,222,330
2006-2015B* 1,489,805
* 10 year average pass rate
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
42%
33,599
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%
47,005
44%
47,175
46%
51,134
43%
52,315
46% 1,290,026
42%
Note:
A = June Examination (Levels I, II, and III)
B = December Examination (Level I only)
889,818
LEVEL I
Pass
Fail
% Pass
Total
986
649
481
423
412
409
424
464
466
432
604
568
457
421
596
522
602
677
903
1,082
1,199
1,317
1,405
1,782
2,174
2,237
2,658
3,087
2,928
3,616
4,087
5,750
7,627
8,847
12,855
14,757
14,314
17,726
19,106
13,478
8,214
8,262
7,128
8,138
7,276
10,602
10,905
13,294
14,831
15,311
17,612
21,034
14,884
19,656
17,009
18,881
18,736
18,968
18,106
18,078
19,469
19,592
20,589
21,303
22,274
542,680
255
118
140
171
180
147
220
291
265
289
258
240
177
246
329
302
347
430
629
573
876
869
961
1,313
1,753
1,912
1,757
1,863
2,074
2,972
4,358
5,591
6,754
7,986
8,889
8,442
13,311
18,591
24,776
18,549
12,443
15,949
12,438
14,777
13,851
15,865
17,177
20,305
22,742
28,752
32,185
24,648
29,325
27,207
29,776
29,187
30,644
30,477
30,875
29,424
26,224
27,413
26,586
29,831
30,041
747,346
0%
79%
302
85%
865
77%
708
71%
556
70%
447
74%
413
66%
372
61%
341
64%
461
60%
565
70%
511
70%
563
72%
641
63%
632
64%
444
63%
550
63%
528
61%
684
59%
714
65%
978
58%
1,147
60%
1,309
59%
1,379
58%
1,555
55%
1,946
54%
2,484
60%
2,522
62%
3,002
59%
3,503
55%
3,679
48%
4,418
51%
5,518
53%
7,098
53%
8,493
59%
10,295
64%
13,496
52%
16,036
49%
17,897
44%
22,163
42%
22,232
40%
34%
23,896
36%
36%
24,891
34%
40%
20,499
39%
40%
25,521
39%
35%
33,449
35%
46%
38,998
34%
42% 43,406
36%
39%
44,175
38%
38%
45,247
37%
38%
44,874
43%
42%
44,796
44%
42%
46,841
43%
42% 598,040
351,134
538,684
39%
387,806
LEVEL II
Pass
Fail
283
678
469
496
334
322
285
253
354
324
377
421
477
510
379
460
407
580
489
637
701
965
884
995
1,163
1,590
1,594
1,618
2,258
2,061
2,109
2,535
4,596
5,011
6,433
7,329
8,636
8,322
10,418
10,432
% Pass
Total
LEVEL III
Pass
Fail
% Pass
19
187
239
60
113
91
87
88
107
241
134
142
164
122
65
90
121
104
225
341
446
344
495
560
783
894
928
1,384
1,245
1,618
2,309
2,983
2,502
3,482
3,862
6,167
7,400
9,575
11,745
11,800
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%
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
268
179
329
563
491
414
237
238
288
214
222
355
393
363
540
481
441
437
340
469
392
658
579
845
755
864
1,133
1,360
1,436
1,658
1,936
1,859
1,860
1,999
3,119
3,895
5,015
6,274
9,410
5,924
8,816
16
10
32
118
52
126
110
155
74
80
122
69
77
68
154
158
61
71
122
171
218
150
211
247
297
354
298
463
480
355
606
691
798
1,122
2,197
2,755
3,433
3,410
2,083
4,262
4,204
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%
7,649
16,247
32%
13,452
8,669
4,783
64%
13,938
10,953
56%
11,102
6,083
5,019
55%
9,751
10,748
48%
16,283
12,314
3,969
76%
10,156
15,365
40%
12,777
6,399
6,378
50%
15,243
18,206
46%
14,569
7,720
6,849
53%
15,892
23,106
41%
19,436
9,597
9,839
49%
16,995
26,411
39%
21,462
9,881
11,581
46%
19,009
25,166
43%
22,784
11,567
11,217
51%
19,194
26,053
42%
24,754
12,870
11,884
52%
19,311
25,563
43%
25,766
12,607
13,159
49%
20,644
24,152
46%
26,882
14,535
12,347
54%
21,509
25,332
46%
27,468
14,664
12,804
53%
277,476
320,564
46% 334,264
193,955
140,309
58%
167,704
220,102
43%
112,154
100,027
53%
212,181