Posted by: Kaplan Schweser
Published: July 16, 2020
Beginning in February 2021, Level I of the CFA Exam will be offered four times a year in a computer-based testing (CBT) format, and Prometric will administer the exam. Candidates will schedule their exams within a window of time instead of sitting with everyone else on the same day. So, what will that day be like? And what should candidates expect from a CBT exam? This article answers these questions.
Because there is an exam window rather than one set date, you’ll have to schedule your exam with Prometric. You can schedule or reschedule your exam appointment online or by phone through CFA Institute:
Make sure you enroll in the CFA® Program before you try to make an appointment. Testing times and locations are based on availability. After you schedule your appointment, Prometric will confirm it in an email.
You can familiarize yourself with how a CBT exam works and the exam tool features before exam day. Prometric has created a CFA exam tutorial with helpful information that you can preview any time before you take the exam. It will also be offered as a refresher on exam day. It explains things like:
At the end of the tutorial, there is a brief sample test (with two questions). These are not CFA exam questions nor should you view it as a mock exam.
Be sure to show up about 30 minutes early for your exam time. It is a good idea to map out where the testing center is and figure out how long it will take you to get there. If you arrive late, you might not be allowed to take the test. If this happens, then you will not get any kind of exam fee refund, nor will you be able to transfer the fee to a different appointment.
At all testing centers, you will be required to show your passport. CFA Institute requires that every CFA® Program candidate have a valid international travel passport to register and sit for the exam. You are only allowed to bring certain items into the testing center room with you; any other personal belongings are best kept in your locked car. So, it’s possible that you might have to go through a metal detector wand test or turn your pockets completely inside out to ensure they have been emptied of all personal belongings.
Cell phones, handheld computers, and other communication devices or electronics are prohibited from being taken into a testing room or being used during bathroom breaks. If you do have some items that you don’t want to leave in your car, you are likely to be given a locker. Once your belongings are stored away, you will then be escorted into the testing room with only your picture ID, locker key, approved calculator, and any other permitted items.
The testing center will have a computer ready for you. Before you start taking the exam, you will go through the Prometric tutorial again. Then the exam will begin. You should be aware that there may be cameras present in the testing room. You are expected to be quiet; any suspicious signs of cheating will disqualify you from the exam. Any CFA Institute Code of Conduct violation could lead to disciplinary action.
Once you complete the exam, you can gather any belongings from your test area and the locker and leave. CFA Institute will contact you with your exam results. At this time, CFA Institute is stating that you’ll receive those results no later than 7.5 weeks after you take the exam.
Check out Prometric’s Exam Day page to learn more about what you should expect going into the exam. You can also ensure you are prepared for the Level I computer-based exam with Kaplan’s preparation packages. We have study options to suit all learning styles! Get started today.