CFA candidates fared better this past June than in previous years as 43% passed the Level I exam and 47% passed Level II. The CFA Institute has yet to release how many candidates tried their hand at the exams this year, but about 59,000 took the Level I exam in June 2016 and just more than 50,000 sat for Level II.
Pass rates for both exams declined below 50% during the 2000s, as the number of candidates blossomed to more than 100,000 by 2009. Level I pass rates have changed little in recent years, ranging between 42% and 43%. June's level II pass rate was the highest since 2003 after breaking above a steady 46% trend of the previous three years.
Level III results will be released in early August, but pass rates for that exam have historically been higher with 54% passing the June 2016 exam.