yes, and these are no small crowds; in Chicago or New York we are talking at least a few thousand people who are there for 8 hours. even with social distancing, there is just not enough known to pose that safety risk in this environment. the institute would be banking on the virus essentially being contained within 3 months to the point where you can safely hold an event that is something like 50-100 times larger than anything that is allowed now (and that is just in the US, who knows what the issues in Europe are). Understand the practical challenges they are facing but at this point it is simply irresponsible to maintain that it will be administered BAU in June
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Yes - I took Level I in Atlanta, and it was 1000s upon 1000s seriously and lots of passports from other countries.
Regardless of if CFAI can determine specifics or not, it would be nice if they could confirm that the exam will not be held on June 6. Would definitely ease a lot of anxiety at a time when people are already dealing with so much.
Iâm lucky enough to be relatively sheltered from the effects of this all (except for market holdings getting decimated) and living in a country with minimal concerns about healthcare accessibility/availability (but still a strong need to flatten the curve). After a week off due to the world, back to studying, but it feels very pointless and directionless. I had a plan before this and itâs basically fallen apart. Sounds like many are in the same spot, until we can get some confirmation of what will happen.
Even if theyâre trying to determine when (August? December?) or if (can they procure enough smaller test centers? Does deferring L1 to December do the trick?), hopefully they say something soon.
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There is a CIPM exam in March, and yet they have not made any changes to it: " CFA Institute has not made changes to the CIPM exam administration for March 2020. For test center actions and updated closure information, read this special notice from Prometric regarding COVID-19. Note that Prometric has closed all North America test centers as of 18 March 2020. If your test center is closed, Prometric will contact you directly, and CFA Institute will defer your March 2020 exam to the September exam administration. You will be notified when your deferral is complete."
As I understand they are trying to get the test centers get the events cancelled, so the responsibility is not on them, and the expenses fall on the test centres. As the test centres will cancel the events, they will have to arrange it for free another time. But if CFA Institute cancels it, they will have to pay additional expenses for the new time arrangement. I guess this is a waiting war between CFAI and test centres.
Seems like they donât want to spend any money. They are earning so much money around the world from all the exam takers, and Charterholder fees, yet they are acting so greedy.
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Welcome back
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This is my thought, too. I was going strong, but the last week has been stressful. And my job is getting worse and worse in banking. I am glad I am needed, but risk analytics is my all right now.
@Fredo: If that is indeed the intent of CFAI then itâs the most irresponsible and unethical thing I could think of. Money over lives essentially. Classic: âDo as I say NOT as I doâ. OK BOOMER!!!
Check this out regarding the CPA exams
https://goingconcern.com/fyi-cpa-exam-candidates-covid-19-just-killed-prometric/
First and foremost, I am disappointed that they havenât come out with something more formal and decisive. However, the more I think about it this has to an extremely difficult situation for them. At one point I feel like I saw their financials (they are a non-profit) and believe a very large portion of their annual revenue comes from these exams. So if they âcancelâ, do they refund everybody and lose out on revenue for the year? Do they keep the fee and not refund? Plus dealing with expenses related to securing testing centers. Even though I am frustrated from the lack of communication, I feel for them and the situation they are in.
Exam POSTPONED guys
https://www.cfainstitute.org/en/about/press-room/cfa-institute-coronavirus?frmLogin=1
The CFA Institute earns at least $46.75 million annually from membership fees alone, and well over $100 million when factoring in the examination fees. if they are nonprofit, they dont have to pay any taxes on those hundreds of million usd. While i would rather give them a break for this unprecedented situation, it is worth noting that other companies who also offer exam via Prometric are offering full refunds to exam takers who had their examination canceled by Prometric.
edit: when i said company, i obviously meant institution edit 2: and societies. the point is that other entities who also use prometric are offering full refunds
WINTER IS COMING⌠in December. We likely wont have a vaccine by then. To sit and try to remember the material for another 9 months is ridiculous on top of everything. This is CFAIâs time to learn a little flexibility. We all have to adjust to these conditions. Work from home etc⌠Surely they cant think that business will continue as usual and they will lump us together with Level I because itâs convenient for them and thatâs what they have done in the past.
If they are going to keep my money they had better offer the test AS SOON AS we have a handle on the deceleration of the rate of infection of the virus preferably during summer/early fall months. We are so flexible as candidates - study 300+ hours, wait a whole year to take this test, work with the black box that is the CFAI which didnât even post last yearâs Level III exam, sacrifice so much of our energy and time. Now is the time for CFAI to be more flexible and return the favor. What is this - The Third Reich?!
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God doesnât want us to ever get the CFA apparently.
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CFAI did exactly as I had hoped for and yet I feel worse⌠what a time.
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Now that exam has been postponed to december probably,have decided to register for FRM exam to be conducted in november.
Plz check faq on CFA website. Earliest possible date is in Dec 2020
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It was inevitable- no way it was going to happen logistically and glad they told us now rather than a month before. Not happy about having to endure another 6 months of studying but fingers crossed this ends by Dec (esp since a 2nd wave of COVID is expected to come in the fall/winter) and we all get slotted in for Dec instead of June 2021.
I feel satisfied that the test been postponed and we have some visibility into next steps. Thank you all for the really great comments!
My sentiments exactlyâŚyou took the words right out of my mouth!