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CFA exams are postponed: "I've put off having damn kids because of this program"

As the coronavirus runs on, things that seemed possible a few weeks ago are becoming more predictable. Among them: the postponement of the CFA exams.

In a statement today, the CFA Institute said it has, 'made the unprecedented decision to postpone the June 2020 CFA Program Exam administrations globally.'

The Institute says candidates registered for the June exams will be transferred to one of the next two exam administrations. - In other words, December 2020 or June 2021.

For CFA exam candidates who had been wondering whether the exams would be cancelled, the decision does not appear to be entirely welcome. "I want to die," said one candidate on the CFA Reddit forum. "This is just so heart breaking to all of us who have been studying for the past several months," said another. Someone else just wrote a lot of expletives. The fact that the CFA Institute isn't offering a refund and is simply offering registration for future exams has added to the upset.

The main issue, though, seems to be that December is so far into the future that any revision done so far will be wasted and candidates will have to begin revising all over again. "I am not sure I will remember anything in December," reflects one. "I’ve been waking up at 4am daily, even on weekends and getting only five hours of sleep everyday just so that I can manage my work and study at the same time," says another who says the fact that people who hadn't begun revising are now celebrating is especially galling.

Given that plenty of CFA candidates are now working from home some candidates are complaining that the virus lockdown was a great opportunity to get ahead of the CFA material. "Time to play some videogames baby," says one.

The upside is clearly that there is now more time to study for an exam that will happen at least four months later than expected. - "This is like having the clocks rewound to September 19, 2019," reflects one candidate. However, as others point out, there's no guarantee that the virus will have gone by December 2020 when the same could happen again. 

"I've put off having damn kids because of this program," says one candidate. Parenthood has now been shunted further into the future than before.

Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com in the first instance. Whatsapp/Signal/Telegram also available. Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

Photo by Marco Bianchetti on Unsplash

 

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AUTHORSarah Butcher Global Editor
  • Am
    Amit Kulkarni
    23 March 2020

    Say thank you to CFA, imagine you being pregnant or having babies in this situation. Very young kids may be vulnerable to the virus (below 1 year). So be happy and move on.

  • To
    Tomm_Bie
    21 March 2020

    Put off having kids for a test? Convincing women to delay or miss their opportunity to build a loving family so they can spend 50 hours a week updating spreadsheets for megacorps is so sad.

    I wonder how much of it is responsible for the rise in alcoholism and antidepressants

  • Je
    Jeff Long
    21 March 2020

    I'm sorry, but there are bigger issues at stake here. Everyone has something that is going to affect them. I have completed Level 2 of the CFA and know full well it's MARCH and the brunt of candidates don't fully ramp up till right about now. So I fully support the decision, but, if candidates want refunds, they should get them.

  • Be
    Ben
    20 March 2020

    I'm also one of those people who aren't happy about the exam being postponed. Because the exams will only be written in December, this means that if I pass i will only have about 4 months to study for the next level in June 2021. This is almost impossible if you're working. So then I'll only end up writing the next level in 2022 which means that my whole life plan is put off by a whole year. The only way CFA can correct this is if level 2 and 3 can be written in June or December just like level 1. I think that they should seriously consider this.

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