Updates to the CFA® Program Exam Sittings
As you will already be aware, due to COVID-19, there have been a number of changes to when the CFA Program exams will take place and how they will be administered. In addition to the delayed exams earlier this year, there are new updates to the way the exams will be held going forward.
Changes to CFA Levels II and III
In addition to Level I moving to Computer-Based Testing (CBT), Levels II and Level III will also shift to CBT in 2021 to enable smaller groups, better social distancing, more locations and easier scheduling. There will be no change in the exam format, Level II will still be based entirely on item sets of either four or six questions and Level III will retain its written paper.
As part of the transition to CBT in 2021, CFA Institute expects to offer multiple exam windows and anticipates these exam windows being open for up to 10 days, based on test area and venue capacity needed to meet the demand. More information here
Level II exams will be held in May and August 2021 and Level III exams in May and November 2021. Please note, for Level II in 2021, although there are two exam sittings, they are very close together so it will not be possible to re-sit the exam if you do not pass in May 2021. However, if you do pass Level II in May 2021 then you can immediately register for Level III for November 2021. This means you can significantly shorten you overall study period. This option, however, needs to be considered carefully since by the time you receive your Level II results, you will only have approximately four months for studying so should only be considered if you have sufficient study time available during this period.
December 2020 Exam Updates
Earlier this year, CFA Institute announced that the June 2020 exams would be postponed to December 2020 for all levels of the program.
It is still intended that these exams will still run where possible, in line with local government guidelines and health regulations, with safety measures in place. If candidates postponed from June 2020 cannot sit their exams in December due to their location being forced to postpone for any reason, impacted candidates will be given the option to postpone to a 2021 administration or request a refund.
All December 2020 candidates may postpone their exam dates to one of the CBT windows in 2021 based on their level, in which case candidates must decide to withdraw from December 2020 to defer to 2021 no later than 20th October 2020.
Fitch Learning’s continuing commitment is to support our CFA Program candidates during this uncertain time. We have taken steps to ensure that our candidates receive our full support, right up to the deferred date of their exam. We have rescheduled study dates to reflect the learning cycle for the December exams and we are now offering virtual classroom courses and online learning, to provide the most appropriate support in the lead up to the revised exam date.
All of our candidates will have continued access to Fitch Learning Cognition, our online learning portal and mobile app, for as long as they need, until their chosen exam date.
Study Guidance Webinars for the Postponed CFA Program Exams
Further to the postponement of the CFA Program exams, we held a study guidance webinar series for all levels, to provide you with useful study guidance and tips on the key examinable topic areas to focus on, to help you as you re-structure your studies. All of our videos are available to watch back on demand.
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