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CFA Institute, the global association of investment professionals, announces that of the 125,443 candidates who sat for CFA Level I, II and III June 2015 exams globally, 10,651 were from India, the third largest number of exam takers after the United States (30,715) and China (21,057).
Regionally, Asia-Pacific continues to be the largest source of candidates, with 52,740 exam takers, accounting for 42 per cent of the total. Globally 57,476 candidates passed all three levels, which it said, is an encouraging step towards building an investment management profession that investors believe adds value to society.
In India, the 2015 exams were given at seven test centres across the country, which included Mumbai (4,321), New Delhi (2,668), Bengaluru (1,257), Kolkata (865), Pune (746), Chennai (442) and Ahmedabad (352).
"We have seen strong growth in the demand for high caliber investment professionals in India," said Vidhu Shekhar, CFA, Country Head, India for CFA Institute.
Since opening its first India office in Mumbai earlier this year, CFA Institute and Indian Association of Investment Professionals (IAIP), the India CFA Society, have partnered with investment industry associations such as National Securities Depository Limited (NSDL) and Indian Private Equity & Venture Capital Association (IVCA) to promote investor rights and private equity investments as a key to healthy economic growth.
"Investors have the right to be served by ethical professionals who act as stewards of their investments. As professionals and through their dedication and commitment to the CFA Program and the CFA Institute code of ethics, today's successful candidates join us in our pursuit to build professionalism, raise standards, and prove the value of the investment profession.," said Paul Smith, CFA, president and CEO, CFA Institute.
To earn the CFA charter, candidates must sequentially pass three six-hour exams that are widely considered to be the most rigorous in the investment profession and accrue four years of relevant work experience. The Level-I exam is offered twice every year, and the Level-II and Level-III exams are offered once each year. On an average, candidates report spending in excess of 300 hours of study to prepare for each level. CFA candidates typically take four years to pass the three required exams.
