1. The exam is relatively difficult.
CFA exam is one of the most recognized exams in the global financial industry, which requires candidates to have solid financial and investment knowledge. The examination covers investment management, financial market, financial statement analysis and other fields. Candidates need to do a lot of study and preparation. Although the exam is difficult, the reason why the pass rate is relatively high is not because the exam is simple, but because CFA exam has a certain screening mechanism.
2. Screening mechanism and examination structure
CFA exam is divided into three levels, and each level needs to pass to enter the next level. This layer-by-layer screening mechanism can help ensure that successful candidates have sufficient knowledge and ability. The first-level exam mainly tests basic knowledge and concepts, and the pass rate is relatively high. The second-level examination pays more attention to application and analysis ability, and the pass rate is relatively low.
The last three exams focus on practical application and moral standards, and the pass rate is relatively high. This structure can gradually eliminate unqualified candidates and improve the overall pass rate.
3. Experience and preparation
The higher passing rate is also related to the experience and preparation of candidates. Many candidates have certain financial investment background, relevant work experience and knowledge reserve before taking CFA exam. In addition, CFA exam requires a long preparation time for candidates, and candidates need to do a lot of independent study and preparation.
Many candidates will take part in training courses or self-study before the exam, and use CFA official textbooks and simulated test questions to systematically review and practice. They will spend a lot of time and energy to prepare for the exam and improve their passing rate.
4. Examination resources and support
CFA exam provides abundant resources and support to help candidates prepare for the exam. Official textbooks and study guides are the main reference materials for preparing for the exam, which contain detailed examination contents and key points. In addition, the government also provides mock test questions and exercises for candidates to practice and test in practice. Many training institutions and schools also provide CFA exam training courses and guidance to help candidates understand and master the exam content.
5. High standards of professional ethics
CFA exam also attaches importance to candidates' professional ethics and requires candidates to abide by strict moral standards. Candidates need to pass the examination of ethics and professional conduct to prove that they have high standards of professional ethics. This is also a reason for the high pass rate of CFA exam, because only candidates who meet the moral requirements can successfully pass the exam.
Summary: The higher pass rate of CFA exam is due to the screening mechanism, exam structure, candidates' experience and preparation, exam resources and support, and the requirements for professional ethics.