Last updated: May 13, 2021

CFA exam / COVID Update


May 2021 CFA Exam Cancellations

May 2021 CFA exam has been cancelled in some test locations, including India. Below are the newest limitations regarding testing feasibility in the cities where CFA exams are supposed to be held.

Here's the list of the areas where the May 2021 CFA exam has been cancelled, either partially or entirely:

Last Update: May, 13

  1. Argentina (Buenos Aires)
  2. Brazil (Rio De Janeiro)
  3. Chile (partial closings in Santiago)
  4. Colombia (Cali)
  5. Germany (Hamburg)
  6. India (all cities)
  7. Malaysia (partial closings)
  8. Mauritius (partial closings)
  9. Nepal (Kathmandu)
  10. Nova Scotia (Halifax)
  11. Ontario
  12. Pakistan (partial closings)
  13. Peru (partial closings in Lima)
  14. Sri Lanka (partial closings in Colombo)
  15. Trinidad and Tobago (partial closings)
  16. US (reduced capacity at centers in: Atlanta, Georgia; College Station, Texas; La Crosse, Wisconsin; Los Angeles, California; McAlester, Oklahoma; Mountlake Terrace, Washington; Portland, Oregon; San Jose, California; Santa Maria, California)
  17. Vietnam (partial closings)

Need to Reschedule Your
CFA Exam Prep?

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If your May 2021 CFA exam is postponed, you can defer your exam (free of charge) to Nov 2021 CFA exam. You should be contacted by CFA Institute with more details. Unfortunately, the August exams are mostly unavailable. If the August exam is still available in your area, you will be informed about it in the communication you'll receive from CFA Institute.



February 2021 CFA Exam Cancelled in Some Locations

February 2021 CFA exam gets cancelled in areas still severely affected by COVID-19. If your Feb exam is cancelled (and cannot be rescheduled), you’ll be able to defer at no charge to some later 2021 CFA exam date, excluding the May window which reached its capacity.

Check your inbox regularly! If your CFA exam appointment is cancelled, you should receive a cancellation email with additional instructions.

Here's the list of the Feb 2021 CFA exam test centers currently experiencing some appointment cancellations:

Last Update: February, 12

  1. Harare, Zimbabwe
  2. Lima, Peru – site 3061
  3. Panama City, Panama – ITSE Panama, site 4335
  4. Peterborough, UK – ONLINE EXAMS, site 4311 (appointments scheduled from 16 to 28 Feb)
  5. Santiago, Chile – site 3059
  6. Shanghai, China – 2 test centers: Shanghai Science & Tech Management School and Shanghai University (candidates will be rescheduled into another test centers within the Feb window)
  7. select cities, Canada (capacity related restrictions, await a cancellation email if you're affected)
  8. select cities, USA (capacity related restrictions, await a cancellation email if you're affected)

NOTE In the upcoming weeks, the list may get extended. However, for now many test centers are expected to administer their exams as planned. Also – pay attention to which test center is closed, not just to the city name!


Free Deferral Available to All Feb Candidates!

A free-of-charge postponement of the Feb 2021 level 1 CFA exam is available to all candidates, even if their Feb exam is not cancelled and regardless of whether they scheduled their exam or failed to do so.

So, if you are concerned about health and safety issues and you'd rather take your exam at a later date – from 2 February (9am ET) to 10 February (11:59pm ET) – you can defer your Feb exam to July, August or November 2021 level 1 window. Unfortunately, the May level 1 exam window is no longer available. It reached its seating capacity in many locations already around the early registration deadline, which was 3 November 2020. And now – that is on 2 February – the May level 1 registration was suddenly closed (we wrote the other day that many test centers can be expected to be already full and unavailable).


Online Proctored Testing for Cancelled Feb Candidates

This is a limited option but some cancelled February candidates will be able to take their online proctored exam at home. If the option is available in your area, you'll be contacted by CFA Institute. There are certain computer and systems requirements you need to meet, e.g. you must have secure non-wifi internet connection and a webcam because live remote proctors will monitor your exam. [READ MORE]


Refunds Post Feb 2021 CFA Exam

If your CFA exam has been postponed twice – and you won’t defer anymore – you'll be entitled to a refund. Be patient, though. First, it'll be checked if your exam can be re-scheduled for you within your exam window. If not, you'll be able to proceed with your refund. However, the refund itself may take some time and first you need to wait for specific information regarding the refund request procedure. Details will be provided after the February testing window is completed. CFA Institute will contact you directly via email if this option is available to you.


If the Feb 2021 CFA exam is postponed, you can:



Dec 2020 CFA Exam Cancelled, Location by Location

Dec 2020 CFA exam has been already cancelled in almost 100 locations, i.e. in 50 countries, around the world. With new test centers added to the list each week, the odds are that the list of locations where the Dec exam actually takes place will be shorter than the list of closed test centers.


December 2020 Test Centers Closed Due to COVID-19

Here's the list of the recently closed Dec 2020 CFA exam test centers:

Last Update: December, 4

  1. Argentina – Buenos Aires
  2. Armenia – Yerevan
  3. Australia – Melbourne
  4. Austria – Vienna
  5. Azerbaijan – Baku
  6. Bahamas – Nassau
  7. Bahrain – Manama
  8. Belgium – Brussels
  9. Brazil – Rio de Janeiro, Sao Paulo
  10. Bulgaria – Sofia
  11. Canada – Calgary, Edmonton, Halifax, Montreal, Ottawa, Quebec, Regina, Toronto, Vancouver, Victoria, Winnipeg
  12. Chile – Santiago
  13. Cyprus – Nicosia
  14. Czech Republic – Prague
  15. Finland – Helsinki
  16. France – Paris
  17. Germany – Frankfurt, Munich
  18. Greece – Athens
  19. Hungary – Budapest
  20. India – Ahmedabad, Bangalore, Bhopal, Chennai, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, New Delhi, Pune
  21. Ireland – Dublin
  22. Israel – Tel Aviv
  23. Italy – Milan
  24. Jamaica – Kingston
  25. Jordan – Amman
  26. Kazakhstan – Almaty
  27. Kuwait – Kuwait City
  28. Latvia – Riga
  29. Lithuania – Vilnius
  30. Malaysia – Kuala Lumpur
  31. Mexico – Mexico City
  32. Mongolia – Ulaanbaatar
  33. Morocco – Casablanca
  34. Myanmar – Yangon
  35. Norway – Oslo
  36. Peru – Lima
  37. Philippines – Manila
  38. Poland – Warsaw
  39. Portugal – Lisbon
  40. Qatar – Doha
  41. Russia – Moscow
  42. Saudi Arabia – Jeddah, Riyadh
  43. Serbia – Belgrade
  44. Singapore – Singapore
  45. South Africa – Cape Town, Johannesburg
  46. Spain – Barcelona, Madrid
  47. Switzerland – Geneva, Zurich
  48. Turkey – Istanbul
  49. United Kingdom – Birmingham, Edinburgh, London
  50. United States – Boston, Charlotte, Chicago, Columbus, Denver, Des Moines, Detroit, Honolulu, Indianapolis, Long Island, Los Angeles, Madison, Milwaukee, Minneapolis, New York City, Philadelphia, Phoenix, Portland, Rochester, Sacramento, Salt Lake City, San Diego, San Francisco, San Jose, Seattle, Secaucus/Northern New Jersey, Washington, DC

Unprecedented CFA Exam Postponement

On 19 March 2020, CFA Institute announced the postponement of June 2020 exams (all levels) owing to the novel coronavirus outbreak. Now, due to the global pandemic situation, CFA Institute speeds up the transition of CFA exams to computer-based testing. As recently decided – from 2021 – not only the level 1 exam but also level 2 and level 3 CFA exams will be held on computers.

The nearest possible exam date for postponed June 2020 candidates of all levels is 5-6 December 2020 and it’s the last paper-based exam! So far, CFA Institute applied it's 'no refund' policy. June 2020 candidates were only given the opportunity to re-schedule. It has just changed! Currently, if you're a postponed June 2020 candidate scheduled for your Dec 2020 exam and if your Dec 2020 exam will also get cancelled (which is a possibility considering the pandemic) – you will be able to get a refund of your registration costs! Of course, you'll still have the option to defer your exam to a later date once again.

Nearest CFA Exam Date

5-6 December
2020

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5-6 December
2020

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If you don't want to take your postponed exam this December, you may choose any of the available 2021 exams. Once again notice that all of the 2021 exams (all levels) will be delived on computers.


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2020 CFA Exams Curriculum
Also in 2021

That’s big news!

Because the 2020 CFA exams were postponed, there will be no new CFA Program curriculum in 2021. It means that the 2020 curriculum will apply to all CFA exams taking place at all 2021 exam dates.

Generally, topic weights are also said to remain similar to what they were. However, as of the Dec 2020 exam, level 1 CFA exam topic weights are given in ranges, which is a totally new thing. You can see here how level 1 topic weights changed over the last years.


Taking Shortcut:
Handy e-Books from Analyst Guide!

As always, our Analyst Guide has been updated before the upcoming exam but this time – thanks to CFA Institute's decision about the curriculum – another update won’t be needed until 2022!

Analyst Guide is a study platform powered by Soleadea and offering shortcut ways of handling CFA exam study content to both level 1 and level 2 candidates. You will find there some printable and handy e-books and flashcards dedicated to concrete areas of your CFA exam curriculum, e.g. formulas, definitions or accounting standards.

Great for both study and revision!

To level 1 candidates, we particularly recommend the Must-Understand CFA Exam Relations e-Book containing some relevant level 1 relations delivered in an interesting form. Instead of a boring list of almost 200 relations – you'll find sentences to fill in and questions to answer, e.g.:

  • Modified duration is always _______ than Macaulay duration.
  • Which of the two is lower: the money-weighted rate of return or the time-weighted rate of return? Why?

This way it is more engaging and encourages active learning, which helps improve your knowledge retention! (answers and explanations are always on the next page)

Also flashcards can aid memorization and knowledge retention. Use our flashcards with the most important CFA exam formulas and definitions if you want to learn these challenging bits of knowledge in no time and on the go:

CFA Exam Formulas on Analyst Guide
CFA Exam Definitions on Analyst Guide