I knew that a few decades ago, passing the CFA was not nearly as difficult as it is now. But little did I know that when the exam started in 1963, 94% of candidates were passing the exam. To say that I was surprised would be an understatement. That being said, we all know that over the years, the passing rate has decreased steadily and is more often in the 30-40% range than anywhere else, especially for the level 1 exam. I think that is great news and personally, I’d even be happy if the rate continued to drop a bit more.
Why I want The Rate To Be As Low As Possible
Passing the CFA is such a difficult exercise and passing it is mostly about haviung a good plan and the right dedication. All of that for whart exactly? In order to obtain a title that will help you differentiate yourself from everyone else. Let me tell you, while passing the CFA exams will not guarantee you any type of dream job, it will do two amazing things:
1-Impress others (coworkers, business partners, etc)
2-Give You Enough Credibility To Be Considered For Great Jobs
Let me tell you, the fact that you are getting opportunities thanks to the fact that you passed the exam does not stem from any crazy reason. It’s a simple fact. Very few candidates end up passing the exam which means that successful candidates are rare. That makes holding the title very valuable. When I hear candidates complaining about the fact that the exam is difficult, it leads me to believe that they don’t want to put the effort necessary to pass. Why? Because if they did, having a difficult exam would be the best way for the title to reward those efforts.
So even though when you are doing the exam you might feel like it’s too difficult, always remember that in the end, you will be happy that they keep the standards so strict.