Here is the complete list of cities where May 2021 CFA exams have partial or full cancellations:
Optional deferral
Partial closures
Full Closure
What does a ‘partially’ closed location mean? Candidates in cities with partial closings will be contacted via email if their exam appointments have been cancelled. If you have not received an email the assumption is that the exam is going ahead.
If your city is listed as ‘optional deferral’, you will be emailed by CFA Institute offering an option to defer your May 2021 exam to November 2021.
This is due to the increase in COVID cases in these regions. With so many other worries, hopefully this will come as a relief to the candidates in these cities.
More cities and locations may be affected in the coming days and weeks – we will keep updating this page as we learn more.
We will keep this page updated as we learn more, but meanwhile, here are some FAQs on next steps:
Candidates affected will be contacted via email “in the next few days” to arrange rescheduling to the November 2021 exam window.
This may be different from CFA Institute’s existing rescheduling policy.
CFA Institute have not ruled out more cancellations.
In fact they’ve stated that they are “actively monitoring all exam centers” and it’s “possible that additional cities will be impacted”. We will keep this page updated as we learn more.
Most affected candidates (except US locations) will be deferred to the November 2021 exam window. There won’t be a choice in exam windows as “space is limited”.
For partial closings in certain US test centers, impacted candidates will be notified to reschedule to August or November exam cycle.
CFA Institute has not directly confirmed this, but a policy consistent with previous CFA exams is that if your exams have been twice-impacted or more (i.e. this exam has been postponed or cancelled by CFA Institute more than once), you should be given an option to cancel for a full refund.
We have a list of alternative, COVID-proof qualifications that CFA candidates might be interested in, which includes financial modelling, programming, data science, languages and well-being courses.
Alternatively – you could also take a break. Spend some time with your family and friends, practice some yoga, and focus on yourself. And stay safe out there.
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Hi, since my exam has been cancelled twice due to covid-19, I requested a refund on the 7th of june of 2021. Then I received an e-mail saying: "We have received your CFA Program exam refund request. If approved, it may take up to 120 days to process your refund". I understand that the refund may take a long time. But I haven´t yet received an e-mail telling that my request has been approved or asking for my personal details to proceed with the refund. I believe it will be approved. But if they don´t approve it, I must know as soon as possible because, alternatively, I could register for free for another exam this year (since my exam has been cancelled) and the deadline is approaching. Do you know how long they take to answer if the refund has been approved and to ask for personal details to make the refund? Do I need to contact them or it is just the way it is? Another question: do you know anyone that was able to get the refund through credit card? It seems they won´ t refund through credit card, the way I paid for the exam. But I totally prefer they could refund me through credit card. I paid an extra fee (local taxes) to make this payment through credit card. If the refund was through credit, then I would have this extra fee reimbursed. Besides, I am afraid that the local bank may charge some amount of money to receive the refund the way they propose. I would appreciate if anyone can answer those questions.
If your exams were cancelled twice by CFA Institute without you requesting them, then you will be eligible, so I wouldn't worry too much about that and just let that go through the process. If you wish to follow up you could try calling them up directly (try their US number rather than the regional one).
As far as I know refunds are made through the original payment method. Do you have a source on the theory that CFAI doesn't process credit card refunds?
I don't have here their exact words. But I believe it was written, when I requested the refund, that the refund would be through HSBC and I would have to give later details to receive it in my bank account or PayPal account (there was no credit card option, although I believe it would be an easy and reasonable option).
has anyone successfully got a refund? Tomo, 21june 2021 is the last day of the refund window so maybe after that it might come, but just checking if anyone till now has actually got their money back... ?
It's unlikely that you'll actually get your money back that quickly. According to CFA Institute:
Will CFAI defer level 1 july exams in India, what's the probability of the same?
We don't have any information on likelihood of cancellations, although experience tells us that local rules and regulations are the clearest indicator. If the rules state it can go ahead, it will. You'll have the best idea on these.
I am a June 2020 and Dec 2020 cancelled Candidate. The time to request a refund was 7-21 Dec. I had not requested a refund back then. Currently, I have not scheduled for any 2021 exam after that. Am I eligible to request for a refund?
You'll have to contact CFA Institute (info@cfainstitute.org) for that. If I'm not mistaken this means you won't qualify for a refund and will have to schedule an exam, but best to check with CFA Institute directly (and also ask if they can refund you anyway even if you're not eligible).
CFA institute saying that the candidates who could not schedule exam for may window in India will not be offered the deferral to november. But this is unjust as it affects the candidates hard earned money and career. It is the institute cancelling/rescheduling the exam and not the candidate. Accepted that if the exam was conducted as per the schedule the institute does not allow candidate to register once the scheduling deadline is passed. But in this case, since the institute is rescheduling the exam due to COVID everyone should be given an opportunity. Also, the institute says that such candidates can apply for another exam after the results of exam for which she registered is out. Now in this case of covid, may exam is rescheduled to Nov and may defer further. So the candidate cannot re-apply untill for mid 2022 exam. This is like putting to risk someone's career. Please provide your thoughts and any help steps that can be taken for this situation
I'm not sure if I understand your issue. Are you saying that candidates that registered for May 2021, but did not schedule their exam, are not eligible for deferral to Nov 2021?
If that's the case, what was the issue that led you to register for May 2021 but not schedule your exam?
Yes candidates with exam registered and not scheduled are not eligible for deferral
Yes that would make sense. It is clear during registration that if you do not schedule your exam you forfeit your registration fee. Whether or not May 2021 is deferred is a separate issue.
Hi Zee,
I have been deferred 3 times and now registered for July 2021 level I, but I am not able to give the exam. I have been trying to call CFA but no luck, neither got an email reply 10days now.
I just want to reschedule for any other time during the year or al least get a refund. Can you advise?
CFA Institute's default response would be since you agreed to reschedule for July 2021, they're not obliged to give you a refund. However, you can try and contact CFA Institute to see if they can sort you out. Call wait times and email response times are unfortunately currently a bit crazy, but candidates eventually do get through.
Good luck, and let us know how it goes!
I totally agree with your points. Waiting for another years is too long to grab career chance. If it's your case, you should looking for other course or certificate which also may support your career.
Whether the CFA Institute can hold a window exam for all deferred candidates denpend on their capacity. That why the organization may want the defered ones to wait for the exam ressult before scheduling. Because this wat allows it to optimize resources.
BTW: I'm deferred one too, due to travel restriction in my area. At least you got the reponse which i'm desperately waitting for.
Melbourne, Australia has just initiated a lockdown from 27th May to 3rd June. My exam is scheduled for 28th May, I'm not sure if CFA is able to update us on Melbourne cancellations in time to know whether I should be attending tomorrow. Any feedback from your experience?
Might be worth calling Prometric as well to see if due to the lockdown everything is off? Also worth trying to get hold of CFA Institute on the phone. You may have to wait a long time (up to 1+ hour) but likely your only option given the timelines.
If, because of the lockdown, it's illegal for you to attend the exam, I can't imagine how CFA Institute can expect you to go ahead with it.
The scheduling was missed because of some unavoidable circumstances
Will the MPS be affected because of the high number of test centres being closed? I.e. India closing test centres and many of the CFA L1 candidates are based in India
In theory, no. The MPS should be independent of the test sample.
In practice, no one knows for sure. But if I had to guess, I don't think it will.
I am from India-CFA Level1 aspirant. I had received the cancellation mail on 7th May'21. My exam was postponed twice (now and earlier in December 20). I postponed the exam to Nov'21. But I realized I have another exam upcoming in November, so need to postpone it to Feb'22. It is still written on the website that you can CANCEL your exam by ET 11:59 PM 21st May with a full refund, but due to a technical glitch, the request is not proceeding.
I'm not sure if you are technically not eligible for a refund anymore since you rescheduled your exam for November 2021, but it's definitely worth contacting CFA Institute to see if they can process your refund. I would email info@cfainstitute.org ASAP. Fingers crossed - let us know how it turns out!
My Exam window is May 28. Unfortunately, I 'm under travel restriction due to new positive covid cases in my building. It's very likely that the restriction will not be released on May 28.
I have sent email to Info.cfainstitution.com three days ago but did not receive answer yet.
If I have to delay the exam. can you tell me what type of documents I need to attach. and how long I have to wait for a reschedule exam window.
Thank you
hi there, thank you for the update, now long have you been waiting for? Did you reach out to them by email? thanks again.
It's info@cfainstitute.org. In any case they're taking more than three days to reply these days anyway. You'll need to prove that you're under government-stipulated travel restrictions, so any documentation that you have on that would help. Good luck, and let us know how it turns out!
for update purpose, The Institution has received my case and allow me to delay the exam window.
Excellent, thanks for letting us know!
Same to me and tried to cal them but no luck
Its been a week. They have not replied yet.
Hello Zee!
Highly grateful for your consideration.
Did you receive any update on this. I had mailed to info@cfainstitute.com too.
I just want the exam to be shifted to Feb 2022.
I had already got my exams cancelled twice and now one of my other exams is recently scheduled to be in Nov 2021 due to Covid again. It will not be possible to give both at the same time. A brief gap is required to revise things.
I have emailed them too and I didn't get a response.
Has the mail for rescheduling the cancelled May 21 level exam in India has been floated out?
Many candidates are still waiting - hang in there!
I scheduled the examination for the May-2020 term, which got postponed at two instances and I was due to appear for the May-2021 term. As you would be aware that currently, for the May-2021 Level II CFA examination full cancellations have been announced in India.
Amidst the COVID-19 outbreak and the ongoing uncertainties in the examination, it became tough to track the various scheduling timelines which were unfortunately missed on my end. I was also tested COVID-19 positive on the 11th of March-2021. What should I do?
It's not clear from your description what your issue is. I'm assuming you initially were meant to take the June 2020 exam.
If you were due to take your exams in May 2021 in India, yes, they've all been cancelled and you will be offered a postponement to November 2021.
Hello Zee, I am CFA level 1 exam candidate. My CFA exams scheduled in July 2021 India are clashing with CA (ICAI)exams. What are my deferral options? Could you please guide me.
I don't think there are many cost-free options I'm afraid. You can see this thread for your options on what to do next: I want to postpone my CFA exam. What are my options?