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Novel Coronavirus (COVID-19)

At CFA Institute, the health and safety of our employees, stakeholders, and affiliates around the globe is our top priority.  

The novel coronavirus (COVID-19) outbreak remains a very fluid situation, and please be assured that we are monitoring the effects to health, safety, and travel mobility.  

We seek to make decisions that: prioritize the health and safety of everyone involved; are informed by data; are fair and equitable in their treatment of all concerned parties; and that are viable and sustainable.

We understand that this remains a stressful and trying situation, and we ask for your understanding as we seek to make decisions in a timely and well-informed manner.

June CFA Program Exams

For the safety of our global community, CFA Institute has made the decision to postpone the June 2020 CFA Exam.

Knowing that candidates have spent hours studying and preparing for the June exam, we want to give you the opportunity to test as soon as possible. We are working with our partners around the world to determine when we can offer the exam to you.

Do not withdraw from the June 2020 exam; we will contact you via email with more information and options by early May.

Please be patient as we work to serve the hundreds of thousands of candidates who planned to sit for the June 2020 exam. This postponement is of an unprecedented scale and we are working to ensure that we have the capacity to manage the volume of registrations we need to process.

Find more information in the FAQs below.

March CIPM Exams

CFA Institute has not made changes to the CIPM exam administration for March 2020. For test center actions and updated closure information, read this special notice from Prometric regarding COVID-19. Note that Prometric has closed all North America, India, and UK (select cities) test centers. If your test center is closed, Prometric will contact you directly, and CFA Institute will defer your March 2020 exam to the September exam administration. You will be notified when your deferral is complete; please do not attempt to reschedule your appointment.

If you are experiencing symptoms or have been diagnosed with COVID-19, please do not appear at the testing location but contact CFA Institute to make alternate arrangements for your exam.

CFA Institute Events

We are evaluating our conference calendar on a case-by-case basis using the most current and reliable information available from health and travel authorities. We will cancel programs if necessary — and have done so already in certain instances. We are monitoring unfolding events closely and reviewing all available options — including holding virtual events — on an ongoing basis.

Please visit the Annual Conference website for an important update on the 73rd CFA Institute Annual Conference.

Frequently Asked Questions (FAQs)

Q: Why is CFA Institute postponing the June 2020 CFA Exams?

A: Based on the continuing escalation of COVID-19, and with concern and care for our global community, CFA Institute has decided to postpone the June 2020 CFA Exam globally.

Q: How will you inform candidates of their options regarding this postponement?

A: We are informing them of the postponement by email on March 19, and we will tell them in that email that we will be back in touch with them by May 8 regarding options for transferring registration to one of two upcoming exam dates. We are working with our partners around the globe to define when those next two administrations can occur for each level; however, we anticipate offering every level in December 2020.  As soon as dates are confirmed, we will reach out with more information so that candidates can select a preferred date.

Q: When do you expect you will know new exam dates?

A: We expect to communicate available exam dates by email no later than 8 May 2020.

Q: What will be the earliest possible date for the exams?

A: December 2020.

Q: Will December be the only time for testing the deferred administrations?

A: December 2020 will be the first available administration date for all three levels of the CFA Exam. Postponed candidates will have the option of at least one additional date to defer to in 2021. We will provide more information on this topic when we communicate testing options to June 2020 candidates no later than 8 May. 

Q: Will the current curriculum be tested at all deferred administrations?

A: The current curriculum will apply to exams administered in 2020. We are reviewing options for exams administered in 2021.  We will provide more information on this topic when we communicate testing options to June 2020 candidates no later than 8 May.

Q: Can I request a refund for my June 2020 registration?

A: CFA Institute is providing registered candidates a deferral to a future exam date. Because all candidates will be rescheduled, refunds are not being offered.

Q: Why is it taking CFA Institute so long to reschedule the exam?

A: CFA Institute offers test centers in 193 cities in 95 different countries. As of 12 March 2020, at the close of registration, we had more than 245,000 global candidates registered to take the exam in June 2020. Securing exam administration sites, ensuring continued access to study materials, and organizing grading for new dates requires intentional and careful planning. Although we do not have a precise date, we anticipate that candidates will have an opportunity to take the exam before the end of the year, and we appreciate everyone’s patience in the meantime.

Q: Will all test centers be available for the December 2020 exam? (Added 27 March 2020)

A: We intend to test in all the locations we would normally offer for June administrations. See the list of test center locations here.

Q: Will the early registration deadline for June 2021 be available to candidates choosing to sit in December? (Added 27 March 2020)

A: There are many elements regarding future operations which are currently under consideration, including registration deadlines to accommodate the new realities. 

Q: I paid the late registration fee for June. Can I receive a refund of the difference between the late registration fee and early registration fee? (Added 27 March 2020)

A: CFA Institute is providing registered candidates a deferral to a future exam date. Because all candidates will be rescheduled, refunds are not being offered. 

Q: I’m a Level II candidate and did not register for the June 2020 exam. Will you allow new LII/LIII registrations for December now that its postponed? (Added 27 March 2020)

A: No, due to test center capacity constraints for LII and LIII candidates, only those who were postponed from June 2020 will be allowed to take the exam in December. We will accept no new registrations for LII and LIII December 2020.

Q: How can I make sure I don’t miss a communication?

A: We will communicate with everyone through a variety of channels including email, social media, our website, and candidate resources portal. We encourage you to verify your email address on record by logging in to your CFA Candidate account and to follow our CFA Program social channels on LinkedIn, Facebook, Instagram, Twitter, WeChat and Weibo. We will also communicate directly with all Approved Prep Providers and local CFA Societies around the globe as details are available.

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