CFA Institute to switch to computer testing
The CFA Institute will transition to computer-based testing (CBT) for all three levels of the CFA program in 2021, with the shift underway for Level 1.
The December 2020 administrations would be the final paper-based test for any CFA program, with the decision taken in response to the impact of the COVID-19 pandemic.
The CFA Institute had planned this transition as part of a broader effort to deliver exams via computers in secure test centres, which would allow smaller exam sittings, more exam dates, easier scheduling and more locations.
The CFA Institute would continue to work Prometric as the primary collaborator to administer CBT, with British Council serving as collaborator in India and Africa.
August 20 would be the start of registration for the 2021 CBT exams and the schedule for 2021 was:
- February: Level 1 only;
- May: all levels;
- August: Level 1 and Level 2; and
- November: Level 1 and Level 3.
To earn the charter, a candidate must have passed all three levels in sequential order and complete work-experience requirements.
As part of the move to CBT in 2021, candidates would be offered windows of up to 10 days for scheduling their exams at a secure test centre, which would be in-person only, as opposed to the current single-day testing.
The CFA Institute would offer all currently registered for December 2020 the opportunity to keep it or postpone to one of the 2021 CBT dates.
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