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CFA’s First Exam Is Getting Shorter, More Frequent and Electronic

  • Institute will open up test taking centers four times a year
  • Windows may last up to a week, and results will come faster
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CFA’s First Exam Is Getting Shorter and Going Electronic

An era of aspiring chartered financial analysts hunched over endless rows of desks, a pencil in hand, is slowly nearing the end.

This week, the CFA will open registration for its Level I exam in December -- the final time that that test will be given on paper. Starting in 2021, it will be administered electronically four times a year, with 25% fewer questions. The soft sounds of scratching from an army of pencils will be replaced by taps.