CFA Exam Updates, January 2021

Expanding Exam Options

As the COVID-19 pandemic continues its global assault, government restrictions have increased and introduced new challenges to our efforts to acquire capacity for interested candidates in 2021, particularly in the February Level I window. While we are planning to administer the exam where possible, to help alleviate your concerns, we have created more scheduling options for you.

Additional information about new exam options for each level can be found below. Map your journey through upcoming exam cycles with our pathing infographic PDF.


Level I Candidates

  • If you registered for the February exam and HAVE scheduled an exam appointment, you will be eligible to defer to another computer-based exam window in 2021 at no additional charge. Additional details about deferring your exam will be provided by email on 2 February.
  • If you registered for the February exam and did NOT schedule an exam appointment, you will now be eligible to defer to another computer-based exam window in 2021 at no additional charge. Additional details about deferring your exam will be provided by email on 2 February.
  • Additionally, CFA Institute is exploring the possibility of offering an Online Proctored Testing (OPT) exam for candidates whose February exams are cancelled due to COVID. Additional details about Online Proctored Testing options will be provided by email on 2 February.

Level II and Level III Candidates

For December Level II and Level III candidates whose locations have been closed, you may register for any applicable 2021 exam. If you would like to sit in May (LII and LIII), August (LII) or November (LIII), you may register now.

In addition to the current available windows, we will be adding more testing windows in 2021 for LII and LIII candidates.  New windows will be scheduled for August (LIII) and November (LII).

More information will be shared soon regarding registration for new windows.  

  • Registration and scheduling for the 2021 computer-based CFA exams is a two-step process. You must first log in to your account and select your new exam window, then schedule your exam appointment. Current available dates, times, and test center options will be presented to you during the scheduling process, but note that more appointments will be added.  
  • If your exam has been twice postponed by COVID-19 closure, you may qualify for a refund. Please refer to the “Refunds” section below.

We are working diligently to respond to the challenges of the pandemic and meet the needs of our candidates by creating new, more frequent opportunities to sit for the CFA exam across 2021. We will continue to be responsive as the environment continues to change.  

Thank you for your patience as we work through these complex processes. We will continue to provide more detail on this CFA Exam Updates page, so check back often! 


If you were deferred from June 2020 and again from December 2020 and have not yet registered for a 2021 exam, you may request a refund of the fees you paid when you registered for the June 2020 exam.  The option to request a refund will be available for two weeks, beginning at 9:00am ET on 7 December to 11:59pm ET on 21 December 2020. Please note: If you request a refund and then decide to register for a future exam, you may register and pay the registration fee for any open exam after 23 December.

You must complete and submit the refund request form before 11:59pm ET on 21 December 2020 for your refund to be processed.  Once we receive your request, we will send additional instructions to the email address you provide. Click here to complete your refund request form.  


See here.

CFA Society Switzerland has no influence on any exam related decisions; all decisions in this regard will be made exclusively by CFA Institute based on guidance from local health and government officials.  We also do not have any information on the proposed venue(s) that CFA Institute has booked in your region.  The CFA Institute is monitoring these factors:

-Government Compliance: Watching local government regulations (local lockdown provisions, mandated curfews, limits on indoor public gatherings)
-Venues: Evaluating exam locations to ensure that provide adequate social distancing for the number of candidates registered, adherence to contact tracing requirements
-Shipping: Ensure paper exam deliveries will be secure, on time, and consider COVID-19 related customs and shipping concerns for each location.

Contact details CFA Institute

If you have questions about the exams, please visit the new CFA Exam Updates webpage for the latest information and FAQs or contact the Global Contact Center,  either via email ( or via phone (all contact numbers can be found here).

CFA Institute will email updates regarding your exam location, so please ensure that your contact information is correct.