Posted by: Kaplan Schweser
Published: August 4, 2020
Starting in 2021, Level II and Level III of the CFA® exam will be offered in a computer-based testing format, ending 60 years of paper-based testing. In addition, there will be no June 2021 exams because the schedule will also be different. Let’s look at all the changes.
Here is a summary of the changes:
There will be a special exam schedule for Levels II and III in 2021, and then a regular cadence will begin in 2022. The planned 2021 exam windows for Level I are still in effect. The exam windows for Level II and III in 2021 are:
Beginning in 2022, the schedule for all exams will be:
You have several options based on your registration status:
If you are trying to make a decision about an exam date, be sure to check the government and health advisories in your test area. CFA Institute follows the guidance of local governments. The plan is to hold exams in any location where CFA Institute can meet public health and safety requirements.
If you were registered for the June 2020 postponed exam, and the exam you subsequently registered for is also postponed, you will have the option to defer again. Or, you can request a refund for the registration fee you paid for the June 2020 exam.
The world that investment professionals experience today is increasingly digital. For that reason, CFA Institute has been working on the transition of its exam from paper-based to computer-based for several years. The COVID-19 global pandemic was the impetus for CFA Institute’s decision to accelerate the move from paper to computer-based testing. The computer-based testing environment and additional dates and times available means that fewer candidates will sit for the exam at the same time, which reduces personal risk compared to the high-capacity venues used for the paper-based test.
You need to make a decision that is best for your situation. Instructors Dr. Doug Van Eaton, CFA and Jon Bone, ACA, CFA host a live online Q&A webinar on Thursday, August 13 at 12:00 EST to help everyone understand the impacts of this decision and get you on the correct path. Register for free here. You can also get more details about the CFA Institute announcements in these documents: