Thirty-nine percent of the 37,573 candidates around the world in the CFA program, passed the level one exam last December.

In Canada, 40% of the 3,078 total exam candidates passed.

The number of candidates tested in December 2007 went up 25% from December 2006 and since the December has increased by 45% since 2003, the first December offering of the level one test.

The Level one exam is offered twice a year (June and December), while level two and level three exams are offered once each year (June).

“The CFA designation is seen as a global passport that offers charterholders the ability to work anywhere in the world,” said Jeff Diermeier, CFA, president and CEO of CFA Institute. “Employers and clients alike respect the designation because they recognize that CFA charterholders commit to uphold high ethical standards and have demonstrated mastery of complex topics.”

To earn the CFA charter, candidates must sequentially pass three six-hour exams, as well as complete the minimum 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.