LAST UPDATED: Apr 7, 2021

PUBLISHED: Feb 18, 2021

CFA exam / Level 2 & Level 3/ NOV 2021





November 2021 CFA® Exam Dates: Level 2 & Level 3


For your November 2021 level 2 CFA exam date, you may choose one of the days from 26 to 30 Nov* and for the level 3 exam – from 23 to 25 Nov*. So, there's no fixed exam date. You must register before 10 Aug and schedule your exam appointment before 25 Aug 2021.




YOUR NOVEMBER 2021 CFA EXAM DATE

In November 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 November 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 26 to 30 November if you're a level 2 candidate and from 23 to 25 November 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 Nov 2021 level 2/level 3 exam dates related to registration and scheduling.


NOVEMBER 2021 LEVEL 2 & LEVEL 3 CFA EXAM DATES

REGISTRATION TO RESULTS


CFA EXAM WINDOW: 26-30 Nov 2021 (level 2) | 23-25 Nov 2021 (level 3)

period of time when you can take your exam

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

registration for the NOV 2021 exam opens

SCHEDULING STARTS: 2 Feb 2021

scheduling window for the NOV 2021 exam opens

EARLY REGISTRATION DEADLINE: 4 May 2021

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

REGISTRATION DEADLINE: 10 Aug 2021

registration closes but you can still schedule your exam

SCHEDULING DEADLINE: 25 Aug 2021

no scheduling but rescheduling option is still available

RESCHEDULING DEADLINE: 14 Oct 2021

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

RESULTS: Jan 2022

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


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


NOVEMBER 2021 LEVEL 2 & LEVEL 3
CFA EXAM DATES EXPLAINED

  1. CFA EXAM WINDOW: 26-30 Nov 2021 | 23-25 Nov 2021
  2. Your November 2021 level 2 CFA exam date will be somewhere between 26 and 30 November, and for level 3 exam – between 23 and 25 November. 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 26-30 Nov for level 2 and 23-25 Nov for level 3, so read your test center info carefully when registering for and scheduling your CFA exam.

  3. REGISTRATION STARTS: 2 Feb 2021 | 20 Aug 2020
  4. First, you need to register for your November exam, which means you need to pay due fees.

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

    Level 2 November 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 February 2021.

  5. SCHEDULING STARTS: 2 Feb 2021
  6. After you register, you're bound to self-schedule your exam within the exam window available for the Nov 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 Nov level 2 and level 3 CFA exam, it starts on 2 February 2021.

  7. EARLY REGISTRATION DEADLINE: 4 May 2021
  8. There's a special registration fee for early birds and it's $700. It applies from 2 February to 4 May for level 2 candidates and from 20 Aug 2020 to 4 May 2021 for level 3 candidates.

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

  9. REGISTRATION CLOSES: 10 Aug 2021
  10. The standard registration fee is $1000. It applies from 5 May to 10 August. In the past, there was also the so-called late or final registration fee, which was even higher but it's been dropped for computer-based exams.

  11. SCHEDULING DEADLINE: 25 Aug 2021
  12. After you register, you're bound to self-schedule your exam within the exam window available for the November 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 November exams, it ends on 25 Aug 2021.

  13. RESCHEDULING DEADLINE: 14 Oct 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 November 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: Jan 2022
  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
NOVEMBER EXAM

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

  • if you pass your Nov 2021 level 2 exam the closest level 3 exam you can take is in May 2022, and
  • if you fail your Nov 2021 level 2 exam the soonest you can retake your level 2 exam is in Aug 2022 and then – if you pass – you can take your level 3 exam in May 2023.
  • if you fail your Nov 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.



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