Last updated: April 28, 2021

CFA exam / Level 2 & Level 3/ AUG 2021


Here you’ll find the most important August 2021 level 2 and level 3 CFA exam dates, from registration to results. There’s no fixed August 2021 level 2/level 3 exam date. For the level 2 exam you choose one of the days from 31 August to 4 September* and for the level 3 exam – from 1 to 8 September*.




YOUR AUGUST 2021 CFA EXAM DATE

In August 2021, all levels of the CFA exam are held. Starting in 2021, the CFA exam is going to be delivered on computers in proctored test centers.

There is no fixed August 2021 exam date, neither for level 2 nor for level 3 candidates. You can choose to take your CFA exam on one of the days from 31 August to 4 September if you're a level 2 candidate and from 1 to 8 September if you're a level 3 candidate. To take your exam on your chosen date, you need to self-schedule your exam.

ALL 2021 EXAMS, ALL LEVELS


* Importantly, the exam window may vary depending on your test center or geographic area. What it means is that for your chosen test center, there may be fewer exam dates available, i.e. the exam window may be shorter. That is why it is significant that you check the test center info when registering for and scheduling your level 2 exam.

Below, you can find all August 2021 level 2/level 3 exam dates related to registration and scheduling.


AUGUST 2021 LEVEL 2 & LEVEL 3 CFA EXAM DATES

REGISTRATION TO RESULTS


CFA EXAM WINDOW: 31 Aug-4 Sept 2021 (level 2) | 1-8 Sept 2021 (level 3)

period of time when you can take your exam

REGISTRATION STARTS: 20 Aug 2020 (level 2) | 19 Jan 2021 (level 3)

registration for the AUG 2021 exam opens

SCHEDULING STARTS: 3 Nov 2020 (level 2) | 19 Jan 2021 (level 3)

scheduling window for the AUG 2021 exam opens

EARLY REGISTRATION DEADLINE: 11 Feb 2021 (changed from 2 Feb)

early bird fee is USD 700, standard fee is USD 1000

REGISTRATION DEADLINE: 22 Apr 2021 (changed from 4 May)

registration closes but you can still schedule your exam

SCHEDULING DEADLINE: 23 May 2021

no scheduling but rescheduling option is still available

RESCHEDULING DEADLINE: 22 July 2021

there's a rescheduling fee of USD 25 for each re-appointment

RESULTS: October 2021

exact date of AUG 2021 exam results release is not yet known even to CFA Institute


NOTE: All the deadlines end at 11:59 p.m.


AUGUST 2021 LEVEL 2 & LEVEL 3
CFA EXAM DATES EXPLAINED

  1. CFA EXAM WINDOW: 31 Aug-4 Sept 2021 | 1-8 Sept 2021
  2. Your August 2021 level 2 CFA exam date will be somewhere between 31 August and 4 September, and for level 3 exam – between 1 and 8 September. Even though the exams take place mostly in September, they are classified by CFA Institute under the August exam window. As already said, the exact length of the exam window depends on the test center you choose and the geographic region you live in. Actually, it may be shorter than 31 Aug-4 Sept for level 2 and 1-8 Sept for level 3, so read your test center info carefully when registering for and scheduling your CFA exam.

  3. REGISTRATION STARTS: 20 Aug 2020 | 19 Jan 2021
  4. First, you need to register for your August exam, which means you need to pay due fees.

    The Aug 2021 exam fees paid at registration are: USD 700 or USD 1000, depending on when you register.

    Level 3 August 2021 exam window is a new window opened due to the difficult pandemic situation and unprecedented CFA exam administration postponements. That's why the registration opened no sooner than in January 2021.

  5. SCHEDULING STARTS: 3 Nov 2020 | 19 Jan 2021
  6. After you register, you're bound to self-schedule your exam within the exam window available for the August level 2/level 3 exam in your area. To this end, you'll need to use the so-called ProScheduler via a dedicated platform.

    Importantly, scheduling is free of charge. For the August exam, it starts on 3 November 2020 for level 2 and 19 January 2021 for level 3.

  7. EARLY REGISTRATION DEADLINE: 11 Feb 2021
  8. There's a special registration fee for early birds and it's $700. It applied from 20 August to 11 February.

    Please note that for computer-based exams, the early registration deadline is also the Pay-by-Invoice deadline.

  9. REGISTRATION CLOSES: 22 Apr 2021
  10. The standard registration fee is $1000. It applied from 12 February to 22 April.

    The August 2021 level 2 & level 3 exam registration was closed sooner than expected, which is bad news for all those who planned to register in May. The registration deadline was supposed to pass on 4 May but due to capacity constraints CFA Institute decided to close the August 2021 registration on 22 April.

  11. SCHEDULING DEADLINE: 23 May 2021
  12. After you register, you're bound to self-schedule your exam within the exam window available for the August level 2/level 3 exam in your area. To this end, you'll need to use the so-called ProScheduler via a dedicated platform.

    Importantly, scheduling is free of charge. For the August exam, it ends on 23 May 2021.

  13. RESCHEDULING DEADLINE: 22 July 2021
  14. A new CFA exam fee, called rescheduling fee, has been introduced for computer-based exams. It means that you can still change your CFA exam date and/or test center after you register for and schedule your August exam. You may change the date and/or test center as many times as you want but every change is going to cost you money.

    New optional 2021 CFA exam rescheduling fee is $25 per re-appointment.

    In 2021, it's USD 25 for each re-appointment of your CFA exam. However, the fee has been reduced substantially owing to the difficult pandemic situation which makes people postpone and reschedule their exams. At first, it was going to be USD 250. Most likely it's going to go up as soon as things get more predictable.

    When does the rescheduling option come in handy?

    It may happen that the optimal-for-you exam date and/or test center is already taken at the time when you schedule your exam. But you will judge it reasonable to schedule your exam anyway. After that, you can go back and check your preferred test center for seating availability at your optimal exam date. As soon as it's available to you, you'll be able to make amendments upon paying your rescheduling fee.

  15. RESULTS: October 2021
  16. CFA Institute has even 60 days for releasing level 2 CFA exam results and 90 days for level 3 results. As always, the Minimum Passing Score (MPS) will be established after the exam by a Board of Governors. Usually, the results are released 7-8 weeks post-exam for level 2 candidates and 9-10 weeks post-exam for level 3 candidates.


AFTER YOU PASS YOUR
AUGUST EXAM

After you take your CFA exam, mind the rule of 6-months-between-exams according to which:

  • if you pass your Aug 2021 level 2 exam the closest level 3 exam you can take is in May 2022, and
  • if you fail your Aug 2021 level 2 exam the soonest you can retake your level 2 exam is in Feb 2022 and then – if you pass – you can take your level 3 exam in Nov 2022.
  • if you fail your Aug 2021 level 3 exam the soonest you can retake your level 3 exam is in May 2022.
  • (read more about 2022 CFA exams)

To pass your level 2 and level 3 CFA exam, there are some things you need to know. For starters, the exam will be divided into 2 sessions, 135 minutes each, with an optional break meanwhile.

In your level 2 CFA exam, you can expect 44 multiple-choice questions in each session. The questions will be grouped into the so-called item sets. Each item set is topped by a vignette followed by 4 or 6 multiple-choice questions. To learn more about computer-based level 2 CFA exams, see here and see here.



For your level 3 CFA exam, you may expect some item sets and some constructed response questions. Item sets can include from 4 to 6 multiple-choice questions (there will be a total of 44 multiple-choice questions). Also, from 8 to 11 constructed response questions are expected. To learn more about computer-based level 3 CFA exams, see here.


Published: Nov 4, 2020



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