If you are looking to take the Level I exam soon, know this.

The December 2020 exam is the last paper-based exam for Level I candidates and would allow time to register for Level II in June 2021.

The first computer-based exam will be in February 2021. If you pass, you can take the Level II exam in June 2022.

CFA Institute will transition all Level I exams to computer-based testing in 2021. Although the exams will be digital, they are not online. Exams will be offered in proctored test centers globally.

Learn more about how the Level I exam is changing

If you are looking to take the Level I exam in a year or so, know this.

In 2021 all Level I exams will transition to computer-based testing.

  • Self-schedule in exam window (up to a 7-day period)

  • Proctored exam available in 400+ locations globally

  • Offered four times each year, but candidates can only register for two exams per year

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If you do not know when you'll be ready for the Level I exam, know this.

You may register for the last paper-based exam which will take place December 2020, or wait for computer-based testing, which begins in February 2021.

Learn more about how the Level I exam is changing

If you are looking to take the Level II exam soon, know this.

June 2020 is the next available exam, and it is a paper-based test.

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If you are looking to take the Level II exam in a year or so, know this.

The Level II exam is only offered in June and continues to be paper-based at this time.

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If you do not know when you'll be ready for the Level II exam, know this.

The Level II exam is only offered in June and is paper-based at this time. CFA Institute is studying the feasibility of moving the Level II exam to computer-based administration.

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If you are looking to take the Level III exam soon, know this.

June 2020 is the next available exam, and it is a paper-based test.

Return to Start

If you are looking to take the Level III exam in a year or so, know this.

The Level III exam is only offered in June and will continue to be paper-based for the foreseeable future.

Return to Start

If you do not know when you'll be ready for the Level III exam, know this.

The Level III exam is only offered in June and will continue to be paper-based for the foreseeable future.

Return to Start

If you are looking to take the paper-based exam, know this.

The December 2020 exam is the last paper-based exam for Level I candidates.

Learn more about how the Level I exam is changing

If you are looking to take the computer-based exam, know this.

All Level I exams are transitioning to computer-based testing in 2021, and will be held four times a year in the months of February, May, August and November

Learn about new Level I scheduling

If you do not have a peference, know this.

You may sit for the last paper-based exam in December 2020 or wait for the first computer-based exam in February 2021.

Learn more about how the Level I exam is changing

Please note Level II and Level III exams are paper-based at this time. 

June 2020 is the next available exam, and it is a paper-based test. CFA Institute is studying the feasibility of moving the Level II and Level IIIexam to computer-based administration.

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