When to take the postponed December 2020 CFA exam

Posted by: Kaplan Schweser
Updated: October 15, 2020

Because of the novel coronavirus, CFA Institute postponed the June 2020 exam to December 2020. On October 7 and October 15, CFA Institute announced the cancellation of select test centers for the December 2020 exam due to local COVID-19 requirements and regulations. CFA Institute will announce future cancellations on a test-center basis. Here’s what you need to know about the December 2020 CFA exam cancellations:

  • To see if your exam location is affected, visit the CFA Institute website.
  • If your exam has been canceled, you can register for a 2021 exam date (you cannot register for another location in December).
  • If you have been impacted by both a June and December CFA exam cancellation, you qualify for a refund from CFA Institute. You must submit your refund request to them between December 7 and 21, 2020.
  • If you currently use Schweser’s 2020 CFA online study materials, we have already extended your access until June 15, 2021 as part of our candidate support program.

If you are still deciding between sitting for the CFA exam in 2020 versus 2021, see the below advice we gave earlier this year.

Rescheduled CFA Exam Dates (2020–2021)

Here are the main facts about the June CFA exam postponement shared by CFA Institute:

Level I CFA Exam Dates

  • The rescheduled Level I 2020 date is December 5, 2020.
  • The February 2021 exam window is February 23 to March 1, 2021.
  • Those who registered for the June 2020 exam may choose to take the CFA exam in December 2020 or during one of the exams in 2021.
  • You have until October 20, 2020 to defer your December 2020 exam registration to an exam in 2021.
  • Registration for all 2021 exams is now open.

Level II CFA Exam Dates

  • The Level II 2020 rescheduled dates are December 5, 2020 for the Americas and EMEA regions and December 6, 2020 for APAC countries.
  • There is no longer a June 2021 reschedule date because the Level II exam is moving to twice a year beginning in 2021.
  • The 2021 exam windows are May 25 to 29, 2021 and August 31 to September 4, 2021.
  • Candidates who chose to postpone to the June 2021 exam have the option of sitting in December 2020 (if they registered by August 19, 2020) or for either of the two 2021 exams.
  • Those who take and pass the exam in December 2020 will get their results in time to register for the May 2021 Level III exam.
  • Registration for both 2021 exam windows is now open.

Level III CFA Exam Dates

  • The Level III 2020 rescheduled dates are December 5, 2020 for the Americas and EMEA and December 6, 2020 for APAC countries.
  • There is no longer a June 2021 reschedule date because the Level III exam is moving to twice a year beginning in 2021.
  • The 2021 windows are May 25 to 27, 2021 and November 23 to 25, 2021.
  • Candidates who chose to postpone to the June 2021 exam have the option of sitting in December 2020 (if they register by August 19, 2020) or for either of the two 2021 exams.

For all Kaplan students who registered for the three levels of the June and December 2020 CFA Exam, Kaplan Schweser is providing online product access through June 15, 2020. If you are impacted by the exam cancellation and have questions regarding your study tools, please email staff@kaplan.com with the subject line “CFA December Exam Cancellation”.

Which CFA Exam Should I Register For?

Several exam centers have been forced to close for the December 2020 CFA exams. However, many are still expected to be open, barring any changes in the COVID-19 situation for each exam site. Deciding whether to stick with the December 2020 exam or switch to a 2021 exam is not easy. It involves weighing the probability of the COVID-19 infection trends increasing or decreasing in your area, understanding the changing regulations around large scale gatherings, and assessing your own comfort level taking the exam if it is still offered at your exam center.

If you are comfortable that you can safely take the exam and your exam center is open, then sitting for the December 2020 exam is a reasonable choice and will help you get through the program faster than if you re-register for a 2021 exam. However, if you are not comfortable that you can test safely or you are not confident your exam center will remain open, it may be wise to re-register for a 2021 exam now.

Remember that you only have until October 20, 2020 to re-register on your own. After that date you will only be able to re-register for 2021 if your exam center is forced to close. Depending on when that happens, you may not be able to secure a spot in your preferred 2021 exam window. Ultimately the decision is up to you. Whatever you decide, we are here to help get you prepared for the exam whether in 2020 or 2021.

How To Stay Prepared for Postponed CFA Exams

Visit Our Free CFA Exam Study Materials Hub

For those of you who were prepared to take the exam in June or December 2020, Kaplan Schweser’s CFA Exam Program team is working diligently to help you understand CFA Institute’s exam changes throughout the rest of 2020 and into 2021. We are also providing you with 12+ free CFA exam study materials to preserve the CFA exam knowledge that you have worked so hard to acquire. Browse these free resources to help keep your focus and stay on track for exam-day success.

Try Kaplan Schweser’s CFA Master Class For Exam Topic Lessons & Practice Questions

The Kaplan Schweser CFA Program Master Class is a 9-part series of free, expert-led classes designed to fill your learning gaps, keep you on track, and help you personalize your CFA exam study plan to accommodate for the 2020 CFA exam postponement. Each class comprises a comprehensive review of a specific section of the CFA Exam curriculum, covering the most critical concepts for that section.

These classes were recently conducted live online and have now been archived for your on-demand review. Each class—approximately 2 hours long—consists of 90 minutes of content review and question practice, followed by 30 minutes dedicated to a Q&A session. The Kaplan Schweser Master Class will continue to be available as an exam prep resource to all CFA Program candidates. Watch these sessions in your Kaplan Schweser Learning Management System or get access here.

Stay Prepared With Our Free CFA Quiz & Alternative Study Materials

During your unexpectedly long CFA exam study period, you will probably take study breaks—and that is perfectly understandable. The key to your upcoming 2020-2021 CFA study habits will be finding a balance between exhausting yourself with exam prep, and keeping your knowledge near top-of-mind across the coming months. To help strike that ideal balance with your prep habits, we recommend utilizing some quick and non-traditional CFA exam prep materials.

Here is a list of 15 books, movies, projects, and more to broaden your finance horizons.

To keep your CFA knowledge top-of-mind without exhausting yourself, sign up for our free CFA Question of the Day. You will receive a practice question for your exam level directly in your inbox every day. And finally, our Free CFA Exam Pop Quiz can help you create an ideal study plan to utilize leading up to your postponed exam date.