After 60 years, CFA candidates will at long last be able to put down their pencils and take their Level II and Level III exams on a computer starting in 2021, Kaplan Schweser announced today in a news release.
Kaplan Schweser prepares students to take the CFA exams, while the CFA Institute in Charlottesville, Va., prepares and administers them.
In addition to the CFA Institute switching from paper tests to digitized tests, Kaplan Schweser also said there will be no June 2021 exams because the schedule will also be different.
According to Derek Burkett, vice president at Kaplan Schweser, the change was a long time coming, as well as inevitable with the outbreak of Covid-19.
"CFA Institute's announcement that all three levels of the CFA program will switch to computer-based exams in 2021 is a monumental change in the program, but one that will modernize the experience and provide more flexibility for both CFA Institute and CFA candidates,” he said in the news release. “The Covid-19 pandemic has severely disrupted CFA candidates, and while the change to computer-based exams may seem like a further disruption, it will actually benefit candidates with more options to safely progress through the CFA program."
Burkett did not disclose when the CFA Institute would begin administering computerized testing of the Level I CFA exam in 2021.
Founded in 1991, Kaplan Schweser is headquartered in La Crosse, Wis.