The CFA exams were postponed in June 2020. But given that the pandemic is still making its rounds, could the CFA exams be postponed again, or even cancelled?
Read on to find out!
Be alerted if anything affects the Dec20 CFA exams
What has CFA Institute said about the December 2020 CFA exams?
This was their response:
We appreciate this may be a concerning time for candidates. We are carefully tracking pandemic-related restrictions around the globe and hope that there will be no need for further postponements. If local situations require a change in plans, we will adapt as needed, following local public health policies. We will be implementing social distancing protocols in exam locations. As the December exam date gets closer, we will react to specific situations related to the pandemic and inform candidates of our plans.
We know candidates are worried. Obviously, we can’t predict how December is going to be like, so firm plans are not possible. We certainly don’t want to have to postpone again, but nothing’s impossible. Different exam locations will likely have different COVID situations and restrictions, so we will adapt the best we can on a location-by-location basis.
A fair-enough response – it’s impossible to say what December brings, ergo impossible for CFA Institute to confirm anything (unless they’re confirming it’s cancelled).
When could an announcement happen? CFA Institute announced the June 2020 exam postponement on 19th March, nearly three months before exam day, so it’s possible that if there is another postponement, it could land around September.
What are the chances of cancellation or postponement at my CFA exam location?
This means that the CFA exam in London, which is usually attended by hundreds (if not thousands) of candidates, likely cannot take place as planned if the same mass-gathering rules are in place in December.
Taking London as an example again – the largest test centre is usually the ExCel Centre, which:
- is currently not allowed to open under COVID-19 guidance, and
- more importantly, has been converted to a temporary hospital (NHS Nightingale) and does not seem like it will be deconstructed anytime soon.
If the CFA exam is COVID-disrupted, what would CFA Institute likely do?
- Exam goes ahead, but with adjustments. Changes could mean a different test centre and/or more fragmented test locations, assuming CFA Institute manages to make those changes in time.
- Localized cancellations. If it’s not possible to hold an exam in a particular location, candidates could be offered an
- alternate location,
- further postponement,
- or a cancellation with a refund.
- CFA exam moves entirely computer-based? Theoretically CFA Institute could throw their hands up and move all the exams to a computer-based format. Edit: one day later, CFA Institute announces just that. You heard it here first, folks.
Refunded cancellations might not be as likely as we once thought, given that CFA Institute as so far refused to give out refunds for the June 2020 postponement.
What if I’m showing COVID symptoms on CFA exam day?
Or it could be that the exam is going ahead, but you aren’t comfortable attending the exam for pandemic-related reasons.
What if this happens to you? We are not lawyers, but our guess is that you’re pretty much screwed.
If the exam is going ahead, and you can’t – or won’t – attend, CFA Institute is probably not under any obligation to compensate you – it is likely completely up to their discretion.
Great. What should I do then? To prep, or not to prep?
As mentioned, CFA Institute announced the June 2020 postponement nearly 3 months in advance, and that was under more uncertainty and unpredictability. We’re hoping that with more time to plan and better information this time, CFA Institute would be able to confirm any disruption in good time.
As mentioned, we will keep all our readers updated. If you haven’t already, sign up for our weekly updates to be alerted if anything changes with the Dec20 exams.
How is the situation around the world?
To help us build a better picture, we’ve created a one-minute survey to assess current candidate sentiment and feasibility of the CFA exams at various locations globally. Every response we receive helps us build a better picture on how likely the Dec20 CFA exams will be disrupted due to COVID-19.
We will report back on this page if we manage to compile the data into something useful – complete the survey and stay tuned!