20/08/2013 13:16 BST | Updated 20/08/2013 13:20 BST

200 Bankers Fail Professional Ethics Test, Despite 98% Pass Rate

Young businessman holding his head and seems so worried

A banking ethics test for young investment bankers was passed with a 98% success rate this year, according to the Chartered Institute for Securities & Investment (CISI), which set the test.

However, the success rate means that 200 of the 10,000 failed to achieve the required A or B grade which would allow them to go on to take the Capital Markets Certificate 3 exam, a much-needed qualification for a banking career.

"You have to work quite hard to do that badly”, Andrew Hall, head of professional standards at CISI, told the Times.