I would like to announce that Matt Schaller has achieved another important milestone in his professional career and has passed Level III of the Chartered Financial Analyst (CFA) exam. The CFA exams test a range of investment management related topics, such as security analysis, portfolio management, economics, corporate finance, and financial reporting and ethics. It is considered the “gold standard” for investment analysts in the financial profession.
The three rigorous exams are taken one at a time and each one must be passed before moving to the next one. Level’s II and III are only offered once per year, in June, while Level I is offered in June and December.
For the June 2015 Level III exam, the pass rate was 53%. Level II’s pass rate was 43% and Level I’s was 38% when Matt took those exams. The CFA Institute reported that June 2015 candidates spent an average of 308 hours studying for the exams. Overall, it is estimated that less than 20% of people that register for the first exam end up earning the charter.
Matt will officially receive his Charter in March of 2016, when he completes the CFA Institute’s four year investment analysis work experience requirement.
Please join us in congratulating Matt on his most recent professional accomplishment. He is an outstanding team member and we truly value his contribution to PFA’s clients and staff!