NEW YORK ( TheStreet) - For the small percentage of students who managed to scrape through Level I and Level II of the arduous Chartered Financial Analyst (CFA) exam, it is celebrations all around. Results are out Tuesday and 39% of those who took the first level test passed, according to CFA Institute. That is up from the 36% pass rate in December 2010. 43% passed the Level II exam. The results for Level III will be available in August. The CFA program, unlike the MBA, is focused on investment knowledge and has increasingly become a mark of distinction for investment professionals. It is often seen as career booster for Wall Street executives. It takes four years on an average to get a CFA charter, according to the CFA Institute. --Written by Shanthi Bharatwaj in New York >To contact the writer of this article, click here: Shanthi Bharatwaj. >To follow the writer on Twitter, go to http://twitter.com/shavenk. >To submit a news tip, send an email to: email@example.com.