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CFA Program Deferral Policy

Exam Deferrals

May 2022 Registered Candidates: The deferral request form will be available beginning on 2 May 2022 through 13 June 2022. Registered candidates for future exams, continue to check back.

If we are unable to administer the exams and your exam appointment is cancelled due to COVID restrictions, you will receive a deferral at no additional cost. We will email you detailed information about your future exam registration options.

For candidates whose exam appointments are not cancelled but cannot sit for their scheduled exam and want to move to a new exam window, we provide the following options. 

Reduced Future Registration Fee

May 2022 registered candidates who experience a non-life-threatening qualifying pandemic related illness/issue may request a deferral that will reduce the cost of your next registration fee to USD 399. This allows you to postpone your exam appointment from your current exam window for up to 12 months, depending on your exam level. See the table below for eligible exam windows. Please note that your decision is binding.

Deferral processing time is up to six weeks. We will email you when your account has been updated so that you may register for your next exam.

Please note: Beginning with the August 2022 exam administration, candidates will have the opportunity to purchase paid deferrals directly from within their account.

Emergency Deferral

You are eligible for a free emergency deferral if you are experiencing a: 

  • life-threatening illness (candidate or immediate family member)
  • death of a candidate’s immediate family member
  • mandatory military deployment (candidate only) during the exam window
  • pregnancy (candidate only)
  • a rescheduled exam by Prometric and after contacting Prometric, you are unable to find a new acceptable appointment date.

You must provide documentation to support the claim for a no cost emergency deferral. Deferral approval and processing time is up to six weeks. We will email you when your account has been updated so that you may register for your next exam.

You may defer your exam appointment for up to 12 months, depending on your exam level. See the table below for eligible exam windows.

Emergency deferrals are processed through the CFA Institute deferral form only. CFA Institute does not process deferral requests by phone or email.

If you do not qualify for an emergency deferral, or do qualify but cannot provide the proper documentation, then you are not eligible for an emergency deferral and your request will be denied.

Completion of the deferral form represents your consent for CFA Institute to use the information provided by you to verify your eligibility for an exam deferral and monitor exam deferral volumes. All deferral requests are subject to the terms of the Candidate Agreement, up to and including review by our Professional Conduct department.

The deferral request form will be available for May candidates beginning on 2 May 2022. Registered candidates for future exams, continue to check back.

Moving From You may register for any of the following windows depending on your level. Registration and scheduling deadlines apply. If registration has already closed for a window, you will not be permitted to register.
May – Level I Nov 22, Feb 23, May 23
May – Level III Feb 23

Please note, registration for Aug 2022 closes on 3 May 2022. Deferred May 2022 candidates will not be able to register for August 2022.


May 2022 exam deferral request >

 

Deferral FAQs

What is the difference between an emergency deferral and a reduced registration fee deferral?

We understand the need to provide flexibility for candidates. Those in situations involving major hardships, and can provide the required documentation, are eligible for an emergency deferral.

We also understand that the pandemic may present challenges to our candidates, and therefore, we have provided a reduced registration fee of USD 399 deferral option.

Why aren’t you continuing to offer no cost deferrals for all candidates?

CFA Institute contracts with our exam administrator and incurs extra expenses anytime a candidate changes their plans. We pay for your absence from an expected exam and the cost to arrange for seating for a future exam, as well as the cost of extending your Learning Ecosystem access.

What is the deadline for requesting a deferral?

May 2022 candidates will be able to request a deferral beginning 2 May through 13 June. Registered candidates for future exams will have to check back for their deferral dates.

I have decided I want to defer my exam. What can I expect next?

If your deferral is approved, it will take up to 6 weeks for us to review and process your request. You will receive an email once your account has been updated.

Will I continue to have access to the Learning Ecosystem?

You will continue to have access to your Learning Ecosystem account throughout your deferral period. If you register for an exam in a future calendar year, your LES will be updated at that time with the new curriculum.