LAST UPDATED: August 6, 2020

CFA® Exam Postponed Due to COVID-19, August Updates

CFA exam / COVID Update



On 19 March 2020, CFA Institute announced that June 2020 exams (all levels) will be postponed 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 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 canceled (which is a possibility considering the pandemic) – you will be able to get a refund in the amount of your registration fee! 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

ALL LEVELS


5-6 December
2020

ALL LEVELS



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.


Options for Postponed June 2020 Candidates

Take Dec 2020 CFA Exam

  • Not yet registered? You still have time to register for the Dec exam until 19 August.
  • Already registered for the Dec exam. No action required. Unless you change your mind and prefer to take a CBT exam. In that case, you have time to re-register until 20 October.
  • Registered for the June 2021 exam. Switch to Dec 2020 exam before 19 August (or to any of the 2021 CBT exams until 20 October).

If you take your exam this December, you'll be able to take another exam already in May 2021. CFA Institute says it will keep the registration open. Standard registration fees will apply.


Take CFA Exam in 2021

In 2021, CFA exams will be delivered as follows:

  • Level I: February, May, August, and November
  • Level II: May and August
  • Level III: May and November

If you want to take a computer-based exam AND:

  • Not yet registered? Feb 2021 registration is already open. As of 20 August – registration for 2021 CBT exams, all levels and dates, opens.
  • Already registered for the Dec exam. You have time to re-register to one of the 2021 exams until 20 October.
  • Registered for the June 2021 exam. Switch to any of the 2021 CBT exams before 20 October.

2020 CFA Exams Curriculum Also in 2021

That’s big news!

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.


Dec 2020 & Feb 2021 CFA Exam Study Plans
Available to All Candidates

If you’re a Level 1, Level 2 or Level 3 candidate and you’d like to take your exam in December 2020 or February 2021, you can set up your FREE study plan here:


ALL LEVELS



Taking Shortcut:
Handy e-Books for Dec 2020 Exams!

Also, our Analyst Guide has already been updated for Dec 2020 exams. It offers 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.

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