CFA Institute reports that 43 per cent of the 45,693 candidates that took the Chartered Financial Analyst (CFA) Level I exam in December 2013 have passed.

This year 3,554 Canadians wrote the exam, again demonstrating Canada’s continued interest in the CFA designation. Canada represented the fourth largest group to write the exam, trailing only behind the United States, China, and India.

The results come at a time when investment professionals worldwide report greater optimism over economic prospects for the coming year, but do not express confidence that the integrity of capital markets is improving, according to the CFA Institute 2014 Global Market Sentiment Survey (GMSS).

“The financial community is dealing with a crisis of investor trust, and industry education at all levels is a critical part of rebuilding that trust,” said John Rogers, CFA, president and CEO of CFA Institute.

“The next generation of investment professionals is instrumental in shaping the future of finance, and each one of these successful candidates has the opportunity to build the kind of industry culture that puts investors first and better serves society.”

To earn the CFA designation, candidates must pass all three levels of exam (successful candidates often report dedicating in excess of 300 hours of study per level); meet the work experience requirements 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.

Level I exams are offered in both June and December and Levels II and III are offered only in June.

It takes most candidates more than three years to complete the CFA Program, and requires dedication and determination.

The December 2013 Level I exam was administered in 93 test centers in 70 cities across 39 countries worldwide. Examples of countries and territories with the largest number of candidates that took the Level I CFA exam last December are the United States (10,317), Mainland China (7,823), India (4,179), Canada (3,554), the United Kingdom (3,136), Hong Kong (1,992), Singapore (1,529), South Africa (1,058), and United Arab Emirates (1,030).