CFA Institute
The Computer-based CFA Exam

Candidate,

As you begin to study for the computer-based exam, there are a few things we would like to share about how the exam has—and has not—changed.

1. Secure Computer Labs Under computer-based testing, candidates will take their examinations in secure computer labs with many fewer candidates at a time. Candidates will have two hours and 15 minutes of testing time, a non-mandatory break of up to thirty minutes, and then another two hours and 15 minutes of testing time.
2. A Shorter Exam The examination is being shortened to 4 1/2 hours. We have determined this is the optimum number needed to determine pass rates.
3. Equal Scoring Just as before, all our exam questions are equally scored. No questions have a heavier weight than others. And, just as before, wrong answers do not count against you.
4. Same Format We will use the same style format that has always been used for this level. Just as before, all questions are written by a team of experienced charterholders and all questions come directly from the curriculum and are reviewed to be sure they are consistent with the expectations set in the Learning Outcome Statements that we publish in the curriculum.
5. Calculator Policy Candidates will still be allowed to bring a calculator to the exam center. Just as before, the calculator must be either the Texas Instruments BA II Plus or the Hewlett Packard 12C. 
Connect with more than 250,000 fellow CFA Program candidates via FacebookLinkedIn, Twitter, Instagram, and your local CFA Society® to build your own study network. Candidates studying in China can also connect through Weibo.

Please note: Registration is a two-step process. If you have not yet done so, you must schedule your exam date and preferred location before the scheduling deadline. You can find test center locations on our website. To ensure that you get your preferred test center, make your selection promptly. Please note: if you wish to make changes after your initial selection, a USD 25* rescheduling fee will apply.

Best of luck with your studies!

CFA Institute

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