CFA Institute Says 44% Passed First-Ever Level I Computer Exams

The CFA Institute said 44% of candidates passed its Level I exam in February, the first time the test was given using computers.

That compares with 49% of those who passed the first level of the chartered financial analyst exam in December, the last time ever it was offered on paper. More than 28,000 candidates sat for the February test, which was administered in 850 test centers in 91 countries around the world, the CFA Institute said in a statement Tuesday.

“Their commitment to sitting these exams in the ever-changing circumstances of the pandemic is a testament to their perseverance,” Margaret Franklin, chief executive officer of the institute, said in the statement. “The past year has been an extraordinary year of transition as we accelerated our shift to computer-based testing while the pandemic took hold.”

Historically, the institute offered all three levels of the test in June, and another chance to take the first part in December. With computer-based testing, the institute will be able to offer the exam more times throughout the year. The exam dates for the remainder of 2021 are:

Level ILevel IILevel III

• May 18-24

• July 18-26

• Aug. 13-30

• Nov. 16-22

• May 25-June 1

• Aug. 31-Sept. 4

• Nov. 26-30

• May 25-June 1

• Sept. 1-8

• Nov. 23-25

Finance workers seek the CFA charter because it typically offers the promise of better jobs and higher salaries. On average, recipients of the charter spend more than 300 hours studying for the exam.

©2021 Bloomberg L.P.

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