07 Feb The chartered financial analyst (CFA) is a designa
The chartered financial analyst (CFA) is a designationearned after a candidate has taken three annualexams (CFA I, II, and III). The exams are taken inearly June. Candidates who pass an exam are eligibleto take the exam for the next level in the followingyear. The pass rates for levels I, II, and III are.57, .73, and .85, respectively. Suppose that 3,000candidates take the level I exam, 2,500 take the levelII exam, and 2,000 take the level III exam. Supposethat one student is selected at random. What is theprobability that he or she has passed the exam?