This is incorrect, but seems to be repeated in most of these articles about the Finnish education system.
>nor is it possible to fail a grade.
I don't know about the current state of affairs, but at least it was possible to "fail a grade", even if it was really rare.
>In Finland, teaching is a highly prestigious profession, equivalent to medicine or law.
I'd say that is exaggerated.
>The school days are shorter and students are almost never given homework.
I'd say homework is more frequent than that.