It is a busy weekend for the 84,491 current and aspiring investment professionals from more than 145 nations who are scheduled to sit for one of three levels of the Chartered Financial Analyst examination administered by CFA Institute on June 3 (June 4 for Eastern Asia and Oceania).

The CFA Program sets a globally recognized standard for measuring the competence and integrity of investment professionals, which includes securities analysts, portfolio managers, and investment advisers. More than 68,000 investment professionals in 120 nations and territories hold the CFA charter.

“The value and recognition of the CFA charter continues to grow worldwide, reflecting demand by employers and clients for the commitment, persistence, and passion a charterholder demonstrates by studying the curriculum and passing the examinations,” said Jeff Diermeier, president and CEO of CFA Institute. “The ethics component is particularly an asset of the designation.”

Administered exclusively in English, the CFA curriculum and examinations are identical worldwide. Only one in five candidates who begins the arduous program successfully completes it, while successful candidates, on average, take four years to complete the program and earn the coveted CFA charter.

“Our curriculum and examinations are distinguished by their rigor and the breadth of subjects covered. Another hallmark of the CFA Program is its emphasis on professional experience as a component for receiving the charter,” said Robert Johnson, managing director, CFA and CGIPS Programs Division.

Candidates must also complete at least four years of work experience in the investment profession and must commit to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct, a commitment they must reaffirm each year once they earn the charter.

A candidate must pass each level of examination before proceeding to the next. Level I is administered twice each year, once in June and once in December, and Levels II and III are administered just once each year, in June, which makes the June examination the largest known simultaneously administered professional examination in the world.

The largest employers of CFA charterholders include Bank of America, CIBC World Markets, Fidelity Investments, Goldman Sachs, Merrill Lynch & Co., Inc., Northern Trust Corporation, State Street and UBS AG.

Interest in the CFA designation has been particularly strong since 1990, with the number of candidates increasing at a compound annual rate of 15.6%. Much of the growth can be attributed to demand outside of North America. In 2006, more than 50% of CFA candidates were from outside North America.

Thirty-six per cent of all CFA candidates for the June exam are from the United States, 21% from Pacific Asia, 15% from Europe, and 9% from Canada.