Are you considering to appear CFA Level1 in 2021? Here are the few changes that you should pay attention to:
· From 2021, CFA Level 1 will be conducted electronically
· You can appear for it 4 times in a year
· The number of questions will be reduced from 240 to 180
The early bird registrations of December 2020 attempt is going to end soon and this attempt will the last time that the test will be taken on paper.
Margaret Franklin, the CEO of CFA Institute says, “Our new digital-testing capabilities will better reflect the workplace practices of today, while allowing us to modernize the exam and increase access to more candidates”. Under this method, the examination will be conducted in the months of February, May, August and November. Only 180 questions will be presented, reduced from 240. It will cover the similar portion with the same depth and they will be maintaining the same rigor and the same passing standards. These changes will eventually help the results will arrive faster.
For well over a decade, the entry level of the exam has occurred on a single date twice a year on paper. The soft sounds of scratching from an army of pencils will be now replaced by taps. The changes affect only the exam’s first level, which draws the largest crowd and typically winnows the applicant pool for the two stages that follow.
The results of December 2019 are out and 42% of the more-than 157,000 people who sat for the first level passed. The institute administered its December test in 134 test centres in 87 cities around the world, with 59% of candidates coming from the Asia Pacific region.
OUR VIEWS ON THIS ALTERATIONS:
As per our professors, appearing Level 2 will be a more convenient option for students who appear in August as they get around 10 months to prepare for the same. It was quiet a task for a December candidate to give Level 2 in June.
‘It is easier to pass on the paper than on the web’, says Prof. Harshit Shah. This is because the students are used to the pen and paper method. It is easier to go back to a previous question to verify on paper than electronically. Adding to which it is always advantageous be able to see all questions you have attempted.