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 CFA Preparation

Our society supports the efforts of local CFA candidates by partnering and negotiating discounts with various CFA exam preparation companies. Experienced and respected academicians and investment practitioners coach candidates on CFA curriculum topics, such as securities analysis and investment valuation, financial accounting, quantitative analysis, economics, asset allocation, and portfolio management. Participation in an organized program can complement the self-study design of the CFA Program.




·    We intend to hold the December CFA Program exams for all levels globally where it is possible and with relevant safety measures in place, in line with local government or health regulations.

·    We are moving Level II and Level III exams for 2021 to CBT, along with our already-planned Level I CBT. This means there will be no June 2021 paper-based test (PBT) administration; the December 2020 administration will be the final paper-based CFA Program exam. In addition to helping us meet the growing testing demands of our candidates, account for flexible scheduling, and deliver faster results, this change allows us to provide a smaller exam setting, better social distancing, and easier scheduling with more locations.

·    We are offering all currently registered December 2020 candidates the opportunity to select to postpone their exam date to one of the CBT windows (based on level) in 2021. Candidates must decide whether to withdraw from December 2020 in order to defer to a 2021 CBT exam administration by 20 October 2020.

·     Registration for December 2020 will officially close at 11:59 pm ET 19 August 2020.

·    Candidates postponed from June 2020 may choose to stay in the December PBT administration. If their December location is forced to postpone for any reason, those candidates impacted will be given the option to postpone to a 2021 administration OR to request a refund.

·    We will make a special, one-time consideration for our Level II and Level III postponed candidates who have already registered for June 2021 and allow them to register for the December paper-based test, or for May, August, or November 2021, determined by level.

·    As part of our transition to computer-based testing in 2021, we expect to offer CFA Program candidates multiple windows for scheduling their exam at a secure test center. We expect each test window will be up to 10 days long. Window length is determined by test area and the seating capacity required to meet candidate demand.

·     With our CBT partners, Prometric and British Council, we intend to offer CBT exams in all the locations CFA Institute traditionally offered the June exams. There will be additional test centers available in certain areas.

Testing schedule that captures candidates' options for 2020 and 2021
Candidate FAQs and a draft of the email June 2021 Level I candidates who have not yet re-registered will receive
Upcoming changes to the CFA exam cycle infographic
Quick-start guides for Level I, Level II, and Level III
All candidate inquiries: CFA Institute enterprise website or Global Contact Center.

Understand the Level II and Level III CFA® Exam Changes  

On August 4, CFA Institute announced the decision to move the Level II and Level III exams to computer-based testing with two windows per year, starting with the 2021 exams. We understand this could have major implications for many candidates, and you probably have questions. You will need to make decisions that are best for your situation and understand how these changes could affect your next steps.

Kaplan Schweser instructors Dr. Doug Van Eaton, CFA, Jonathan Bone, ACA, CFA, and Dr. Bijesh Tolia, CFA, CA, are hosting a live online Q&A webinar to help you understand the impacts of this change, get you on the correct path, and answer all of your questions.

Q&A Webinar: CFA 2021 Exam Changes


Jonathan Bone, ACA, CFA

Dr. Doug Van Eaton, CFA

Dr. Bijesh Tolia, CFA, CA


Listen to Schweser instructor Jonathan Bone, ACA, CFA, interpret CFA Institute's decision to move Level II and Level III to computer-based testing and what this means for all candidates moving forward.

Watch Now »  


How to Pass Each Level of the CFA® Exam

Our instructors have laid out the curriculum for each level of the CFA exam and developed the best strategies for passing. Review the curriculum, discuss the differences between each level, and learn what you must do to pass in our How to Pass video series.


Level I »

Level II »

Level III »


CFA Institute does not endorse, promote, review, or warrant the accuracy of the products or services offered by this Society or verify or endorse the pass rates claimed by this Society. The CFA Institute Logo, CFA® and Chartered Financial Analyst® are just a few of the trademarks owned by CFA Institute.