The CFA Institute recently released the results of the June 2018 exams. Of the total 179,214 candidates across all three levels, an aggregate 46% passed. Slightly fewer than 20,000, or 56%, of the 35,518 that sat for Level III passed the exam and will have to find other hobbies in the spring of 2019.
Forty-three percent passed Level I and 45% passed Level II. The Level II pass rate fell from 47% in 2017 while the Level I pass rate was unchanged.
The total number of candidates grew 18% in 2018 from the prior year, including a 25% increase in those taking Level I. The CFA Institute noted it is seeing increased demand from candidates in developing and emerging economies. To meet this demand, the institute has added seven new testing locations. December 2017 was the first time the test was offered in Mongolia and Nigeria, with additional locations added in Spain, China, India and Brazil.