The CFA Institute announced plans to switch to computer-based testing for its Level I exam after nearly 60 years of administering paper-based testing.
Under the change, slated for 2021, the CFA Institute will be able to expand the number of test sites, provide more flexible scheduling and return candidates their exam results faster.
“The investment profession operates in a digital world; offering the exams on computer would allow us to better model the tasks and work experience of investment professionals today,” the CFA Institute stated on its website. “After examining how the CBT community has evolved over the last decade, we believe it is time to enhance our exam delivery effectiveness to satisfy a growing global body of candidates around the world. CBT will also enable us to be more agile in making future improvements in candidate services and exam content.
The effort also includes a digital learning platform, the Learning Ecosystem (LES), with Level I curriculum, study materials and features to help candidates track and manage their learning online. The platform is now available to Level I candidates.
The CFA Institute is working with Prometric, a test development and delivery provider, to help with the initiative.