Effort to reduce no-shows for CFA exam falling short: Financial News
A fifth of test takers failed to turn up to the notoriously difficult chartered financial analyst exams this year — a number that has remained stubbornly high despite the CFA Institute’s efforts to bring it down.
The CFA exams are taken by financial services employees around the world, usually by those who work in fund management, as the tests focus on investment knowledge. Just 20% of test takers complete all three levels, with the average student taking four years and 1,000 hours of study to do so.Over the past few years the institute has taken steps to better prepare students for the exams and make them more accessible.
“We are working hard to provide candidates and prospective candidates with practical tools to prepare and help them to understand the high level of challenge for each individual level of the exams,” she said. The CFA also plans to move to a computer-based test from 2020. Level one will be available online four times each year, over a seven-day period. According to the CFA, this will allow candidates more flexibility if they are prevented from sitting the exam due to personal commitments, childcare responsibilities or religious holidays.In June, exams took place at 193 test centres across 95 countries. Around 30% of candidates are based in China, 17% are in the US and almost 9% are in India.
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