The CFA Institute released the results earlier this week of the Level I exam taken in December. Of the 59,627 candidates who took the exam at various locations around the globe, 43% passed. The CFA Institute began offering candidates looking to get a head start on the program -- or make up for earlier shortcomings -- in 2003 after four decades of holding the exam once a year. Pass rates on the December exam have ranged from 34% to 44%, while the number of candidates has grown from about 21,000 to 59,267 candidates.
