Can I reschedule the CFA exam? You must meet certain requirements, appeal directly to the CFA Institute, or pay for a voluntary deferral in order to postpone a planned CFA exam. The only time either of these two deferral rules will not apply is if the exam is postponed by the CFA Institute due to a substantial exam format change, a pandemic, or a natural disaster.
Candidates are informed when the exam is postponed or canceled by CFA Institute, and they are assisted in transferring to the new date or registering.
Rules for rescheduling the CFA Exam for Individual Candidates
If the CFA institute does not announce a postponement for all candidates, participants will only be able to reschedule their exam date under certain conditions or pay a fee to do so. They refer to this as a deferral, and they make the decision to grant deferrals on an individual basis.
You must inform CFA Institute using the CFA Institute Deferral Form in order for the emergency deferral to be taken into consideration. You can utilize a self-assessment tool provided by CFA Institute to decide whether you ought to ask for this deferment.
CFA Institute will evaluate your situation and decide whether you can move your planned exam to the following session. Your enrollment and registration status will also be updated if your case qualifies for a qualifying deferment.
CFA Exam Postponement Procedures
Delaying your CFA exam simply means that you want to take it at a later time. You can postpone your CFA exam date based on a number of factors that are listed in the CFA Institute emergency deferral policy.
You must go into your CFA Institute account and use the CFA Institute Deferral Form to upload your supporting materials if you want to request an emergency deferral.
If the CFA Institute grants your request to postpone, you will be eligible to register at no additional cost for any testing window that opens within a 12-month period of the approval of your request.
Paid Deferral Policy of the CFA Institute
The option to purchase a voluntary deferral through their CFA Institute account will be available to candidates who do not meet the requirements for the emergency deferral policy.
Depending on their exam level, CFA candidates can purchase a USD 399, no-questions-asked, one-time delay that enables them to push back their exam appointment for up to 12 months.
Each paid registration is only eligible for one paid deferral. If you don’t register again, you won’t be able to defer another time.
Candidates’ registration and scheduled exam will be instantly canceled once they purchase this deferment.
Processing Time for CFA Deferral Policy
If you’d like an update on the status of your CFA delay request, start by checking the status of your request in your CFA Institute account. Processing a CFA deferral request can take up to 6 weeks.
Refusing to Take the CFA Exam
Under the paid deferral or emergency deferral procedures, you can skip the CFA test. You do not have to take the exam if you withdraw, but that is all that happens. You will need to re-register if you wish to take it at the following session.
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Deadline for Paid Deferral
The opportunity for purchasing a deferral is three days after the exam window closes.
Deadline for Emergency Deferral
Three days after the exam has ended, candidates may ask for an emergency postponement.
If the Deferral Deadline is Missed
If you don’t withdraw by the deadline and don’t take the exam, you won’t be able to sign up for the subsequent sitting until CFA Institute discloses all of the exam results. In order to guarantee a seat at the following sitting, follow the correct procedures if you need to withdraw.
When you withdraw, it’s irrevocable. This implies that you are unable to register again for the same sitting if you withdraw your registration for one sitting.
You can ask for a change if you don’t want to withdraw from the exam but are unable to take it at the designated testing location.
How to avoid having the CFA exam rescheduled
Nobody, and most certainly not medical or other situations, can forecast the future. It would be ideal if you could avoid canceling or delaying the exam. Given that Levels II and III tests aren’t presented as frequently as Level I exams, this is especially true for those levels. Here are some hints to help you get ready for your upcoming test:
Before registering, if you work a full-time job, have a look at your weekly schedule and consider what time slots you could reasonably set out to study for the test. If the exam is less than six months away, err on the side of caution and think about scheduling a later sitting.
If you are still a student, think about the effects of having competing goals, such as an internship or job searching, before registering.
If you’ve made up your mind to take the test, sign up during the early enrollment period. As soon as you register for the CFA tests, you should start studying because early registration typically opens nine months before the exam date. You still have a few months to get ready if you run into trouble with a subject or need more time.
Consider 300 hours of study as the very minimum and aim for more. Successful shareholders frequently cite a study time need of 350 hours or more, particularly for Level III. An efficient CFA study schedule can be useful.
Reevaluate your study strategy if you have already registered and believe you are lagging behind. Focus your study on the subjects that are more difficult for you or those with bigger weights. Become aware of the CFA exam dates.
Rescheduling CFA Exam Fee
If you need to change the date of your CFA exam, the CFA Institute will charge you $250 USD.
You have the choice to reschedule your exam appointment within the presently registered exam window if you are unable to sit for your booked appointment. Rearranging your exam appointment means moving it to a new day, time, or venue within the test window for which you are presently registered.
Until the deadline for their exam cycle, candidates who haven’t scheduled an exam appointment can submit an online request for a paid postponement.