CFA Institute, the global association of investment professionals, said Tuesday that it will transition to computer-based testing for all three levels of the Chartered Financial Analyst Program in 2021.
Level II and Level III exams for 2021 will be administered via computer, as will the previously announced transition for Level I. The tests will still be given at exam sites, not remotely.
December 2020 administrations will be the final paper-based tests for any CFA Program exam.
The move to computer-based testing for Levels II and III is in response to the impact of COVID-19, the institute said.
The Chartered Alternative Investment Analyst (CAIA) Association, also said on July 22 that its exam, covering the global alternative investment industry will be offered, for the first time, the online exam option for the September exam cycle.
“While the last paper-based test marks the end of an era for CFA Institute, technological advances in computer-based testing enable us to meet the growing global testing demands of candidates and will improve their experience with a wider selection of test venues and more flexible scheduling options,” Margaret Franklin, president and CEO of CFA Institute, said in a statement.