Chartered Financial Analysts achieved higher than average pass rates in two of three sections.

A record number of 11,000 people in 40 countries sat the tests, including 49 Bermuda residents. The local pass rates for levels I, II and III, with international rates in brackets, were 53 percent (59), 84 percent (65) and 91 percent (84).

The programme is organised around seven topics -- ethical and professional standards, financial accounting, quantative methods, economics, fixed income securities analysis, equity securities analysis and portfolio management.

Candidates are required to pass a series of three six-hour exams for their charter.

The society is holding its annual reception tonight at the Royal Bermuda Yacht Club, between 5.15 p.m. and 7 p.m. Anyone interested is invited to attend, where they can meet fellow investment professionals, CFAs and CFA candidates.