CFA Level 1 Exam to be Held in Online Mode from 2021

NEW DELHI: The Chartered Financial Analyst Institute has announced that the CFA Level 1 exam will be transitioned to Computer-Based testing from the year 2021. As per the institute the transition to CBT is an essential next step for exam delivery to ensure the long-term competitiveness, relevancy, and sustainability of the CFA Program. CBT will provide greater exam scheduling flexibility and faster results for candidates appearing for the exam.

CFA Level 1 Transition into CBT - Key Highlights

• The exam will be conducted 4 times a year - February, May, August, and November.

• CFA Institute plans to conduct the exam at more locations than the current ones.

• The first CBT exam will be conducted in February 2021.

• Candidates will be given a window of 7 days to appear for each exam

• The length of the exam will depend upon the exam city chosen by the candidate

• The total number of questions will be reduced to 180 in the CBT mode.

There will be some changes in the general schedule of the exam and the new developments have been given below:

Each exam appointment will include:

• 30 minutes allotted to pledge, tutorial, and survey

• 135 minutes for session 1

• 30 minutes for mandatory break

• 135 minutes for session 2

• Total testing time is 4.5 hours

• Total appointment time is 5.5 hours

At present, CFA has only decided to transition only the CFA Level 1 exam and no decision has been made in this regard for CFA Level 2 and 3.