Very hard to quantify this. CFA pass rates have trended down since the 60s, for all three tests [1]. However, it could just be that more people are taking it or

Very hard to quantify this. CFA pass rates have trended down since the 60s, for all three tests [1]. However, it could just be that more people are taking it or less-prepared people are taking it. Also worth noting that things like derivatives, alternatives, and international standards (GIPS, FRA) weren't on the exam in the 60s. I'm having a harder time finding pass rates for the CPA before 2006. They seem to have gone up a little in that 12 year window 2006-2017 [2]. The tax code has also gotten larger and more complex over the past 50 years, so that is worth noting. [1] https://analystprep.com/blog/cfa-historical-pass-rates/ https://analystprep.com/blog/cfa-historical-pass-rates/ [2] https://en.wikipedia.org/wiki/Uniform_Certified_Public_Accountant_Examination#History_of_exam_formats https://en.wikipedia.org/wiki/Uniform_Certified_Public_Accou...