CFA Institute, announced that of the 137,790 candidates who sat for CFA Level I, II and III June 2016 exams globally, 12,117 were from India, the third largest number of exam takers after the United States (31,501) and China (26,758).
Globally, of the 28,884 candidates who sat for the Level III CFA exam, 54% passed the third and final exam. Pending experience and membership requirements, these successful candidates will become CFA charterholders and begin their journey as investment professionals whose mission is to raise standards in the industry.
In India, the June 2016 exams were administered at seven test centres across the country–Mumbai (5,114), New Delhi (2,812), Bengaluru (1,420), Kolkata (1,053), Pune (892), Chennai (448), and Ahmedabad (378). Regionally, Asia Pacific continues to be the largest source of candidates, with 61,254 exam takers, accounting for 42% of the total.
In a press release, “We witnessed an increase of nearly 14% this year in the number of exam takers, compared to 10,651 in 2015. This reflects the growth in demand for investment professionals in India,” observed Vidhu Shekhar, CFA, Country Head, India, CFA Institute. “The candidates have a bright future ahead as investment firms prefer having CFA charterholders to manage their client portfolios and provide good investment advice.”
“The CFA Program and qualification continues to be regarded as the pre-eminent designation for investment professionals globally. Congratulations to the successful candidates in their quest to stand out in a very competitive environment and serve investors,” said Sunil Singhania, CFA, CIO – Equity, Reliance Mutual Fund.
To earn the CFA charter, candidates must pass all three exams, considered to be the most rigorous in the investment profession; meet the work experience requirement of four years in the investment industry; sign a commitment to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct; apply to a CFA Institute society; and become a member of CFA Institute.