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It explains the transition from the final paper-based test to computer-based testing starting in 2021, then details new administration windows by level and the impact on retakes. The issue also honors Ben Hodges, CFA, with an announcement of his passing and shared memories from CFA Society Los Angeles members.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/10-2020-october-enewsletter-cfa-exam-news-cancellations-and-computer-based-testing/203504/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/10-2020-october-enewsletter-cfa-exam-news-cancellations-and-computer-based-testing/203504.png","ImageObject",300,407,{"name":92,"@type":93},"Margaret","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-02","2026-09-04",true,{"@type":102,"interactionType":103,"userInteractionCount":81},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"Why were CFA December exams canceled in multiple locations, and what does it mean for candidates in Los Angeles?","Question",{"text":112,"@type":113},"CFA Institute determined the December exam would not be administered in multiple locations due to the COVID-19 pandemic. Candidates cannot switch testing sites, so those registered in Los Angeles must use their next available testing date, which may fall in 2021.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"How does CFA testing change starting in 2021?",{"text":117,"@type":113},"Starting in 2021, all tests become computer based and are administered over several dates. The schedule also changes by level, including quarterly availability for Level I and alternating quarterly testing for Levels II and III.",{"name":119,"@type":110,"acceptedAnswer":120},"What retake limitations apply under the new exam cycle windows?",{"text":121,"@type":113},"Candidates cannot register for adjacent windows. For example, a Level I candidate who fails at the February 2021 administration may have to wait until the August administration to sit again, and Level II/III timing follows similar constraints by quarter.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},203504,1788561569,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":81,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":29,"language":139,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":67,"update_tm":129,"read_time":143},137451207643,"https://ap-avatar.wpscdn.com/davatar_3d24733baf745e90a7e4bdd5f77d97b2","e-Newsletter  \nOctober 2020  \nIn This Issue....  \n-CFA Exam News: Cancellations and Computer-Based Testing  \n-Remembering Ben Hodges, CFA  \n-COVID-19 School Closures Could Cost  \nU.S. Economy $14 Trillion  \n-Two Investment Trends to Watch for a post-COVID-19 World  \n-Sounding Good or Doing Good: A Skeptical Look at ESG  \n-Radical Uncertainty in Finance: The Origins of Probability Theory  \n-The Real Story of 2016  \n-8 Tips to Stay Sane in the Final 15 Days of the Campaign    \nCFA EXAM NEWS: CANCELLATIONS AND COMPUTER-BASED TESTING  \nBy Tom Derse, CFA  \nThe global pandemic has put sand in the gears of any event where large groups gathered. The NBA championship wasn’t decided until October. The political conventions looked nothing like what we remember. Restaurant patios popped up everywhere. Movie theatres are financially stressed to the breaking point. In our industry, there is another event that has been greatly affected by COVID-19: the CFA exam.  \nCFA Institute has determined that it will not administer the December exam – which had already been cancelled in May – in multiple locations, including Los Angeles. Candidates are not allowed to switch testing sites, which means if you signed up for a December test in Los Angeles, your next available testing date will be in 2021. Additionally, starting in 2021, all tests will be computer based and administered over several dates. As if studying for the exam was not bad enough, two cancellations plus a format change might make one wonder what it is going to take for Los Angeles candidates to finally obtain the charter.  \nNot so long ago, the schedule for the CFA exam was quite simple and candidates had to remember just a few dates. Level I was offered the first weekend in December and the first weekend of June. Levels II and III were offered just once a year on the first weekend of June. CFA candidates knew that Memorial Day weekend was for books, not barbeques. The paper-based exam seemed heavy on the security, but after the first time you got used to the routine.  \nNow, the last paper-based test will be offered in December 2020. Starting in 2021, computer-based testing begins for all levels. In 2022, the Level I exam will be offered each quarter. Level II and Level III exams will alternate each quarter.  \nBut it is not necessarily that simple. Candidates will not be able to register for adjacent windows. For example, a Level I candidate who takes the February 2021 administration and does not pass may not sit again until the August administration. Or, a Level II candidate who passes the exam during the August administration will not be able to sit for Level III until the May 2022 administration.  \nConsidering the cancellations, new test dates and occurrences of the exam, one might think you need a table to map your options. So that is what the CFA Institute did on their Exam Cycle Options webpage. Level I candidates can take the exam in February, May, August or November. Level II candidates can choose May or August. (February or August in 2022. ) Level III candidates can choose May or November. Got all that?  \nIf you didn’t empathize with candidates before, this new schedule has to make you feel for those working toward the charter. Work hard preparing for the June 2020 exam, then get that pulled out from underneath you. Reload for the new schedule and the December exam, and that is cancelled also. The frustration level of the candidates can be gathered from comments on social media. Level I candidates want to get started. Level III candidates can see the top of the mountain, but have to wait to reach the summit.  \nThe majority of the readers of this newsletter have already gone through the process and can mostly ignore the new scheduling maze that candidates have to navigate in order to obtain the charter. But if you know someone who is in pursuit of the charter and has to deal with the frustrating cancelations and restarts, give them a word of encouragement. Remind them that you ","cbCaitVuk4ecKRV5","https://ap.wps.com/l/cbCaitVuk4ecKRV5","pdf",2471600,"English","# In This Issue\n## CFA Exam News: Cancellations and Computer-Based Testing\n## Remembering Ben Hodges, CFA","[{\"question\":\"Why were CFA December exams canceled in multiple locations, and what does it mean for candidates in Los Angeles?\",\"answer\":\"CFA Institute determined the December exam would not be administered in multiple locations due to the COVID-19 pandemic. Candidates cannot switch testing sites, so those registered in Los Angeles must use their next available testing date, which may fall in 2021.\"},{\"question\":\"How does CFA testing change starting in 2021?\",\"answer\":\"Starting in 2021, all tests become computer based and are administered over several dates. The schedule also changes by level, including quarterly availability for Level I and alternating quarterly testing for Levels II and III.\"},{\"question\":\"What retake limitations apply under the new exam cycle windows?\",\"answer\":\"Candidates cannot register for adjacent windows. For example, a Level I candidate who fails at the February 2021 administration may have to wait until the August administration to sit again, and Level II/III timing follows similar constraints by quarter.\"}]","10-2020 October eNewsletter - CFA Exam News - Cancellations and Computer-Based Testing | PDF",15]