February 2021 CFA exam gets cancelled in areas still severely affected by COVID-19. If your exam is cancelled, you’ll be able to defer at no charge to some later 2021 CFA exam date. More info on available exam options are expected on 2 February.

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Online Proctored Testing for Deferred Feb Candidates

This is a limited option but some deferred 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 will be certain computer and systems requirements you’ll need to meet. More details about the required testing environment for online proctored exam are expected on 2 February.

Candidates from China have been excluded from this option due to government regulations.

Refunds Post Feb 2021 CFA Exam

If your CFA exam has been postponed twice, you'll be entitled to a refund. Be patient, though. 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.

If the Feb 2020 CFA exam is postponed in your area, you can:

• either defer your exam (free of charge) to any of 2021 CFA exam dates,
• or ask for a refund if you're impacted twice.

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

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 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.

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: