CFA Level I Exam: The Chartered Financial Analyst Institute will conduct the CFA Level 1 exam in the online mode from the year 2021 onwards. The Institute has announced that the CFA Level 1 exam will be transitioned to Computer-Based testing from 2021. The official notification released by the institute reads that the transition to CBT is an essential next step for exam delivery. The CBT mode of CFA Level 1 exam is meant to ensure the long-term competitiveness, relevancy, and sustainability of the Program. CFA Institute has also said that CBT will provide greater flexibility in exam scheduling and will also allow for faster generation of results for candidates appearing for the exam.
As per the changes introduced, CFA Level 1 CBT exam will be conducted 4 times in a year in the months of February, May, August, and November. There is a plan to increase the number of locations for conducting CFA Level 1 exam. A window of 7 days will be provided to the candidates to appear for each attempt. The CFA Level 1 CBT exam duration will be dependent upon the exam city chosen by the candidate. In the CBT mode, the total number of questions in the CFA Level 1 exam will be reduced to 180.
The are also certain changes that will be introduced to the general schedule of the CFA Level 1 exam. The new developments for each exam appointment include: 30 minutes allotted to pledge, tutorial, and survey, 135 minutes for Session 1, 135 minutes for Session 2, a mandatory break of 30 minutes. The total testing time of CFA Level 1 exam is 4.5 hours while the total appointment time is 5.5 hours. Presently, CFA has introduced transition to CBT based mode only for the Level 1 exam. There has been no announcement as yet for CFA Level 2 and Level 3 exams
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