Life can be unpredictable; sometimes, students cannot appear for their CFA exam on the scheduled date. If you face any such issue, you might wonder how to defer the CFA exam. The CFA Institute sometimes allows candidates to postpone their exams, but it follows strict rules. You can defer your CFA exam, but you must meet their conditions and apply within the allowed time.
The process of deferring a CFA exam means moving your scheduled exam to a future window. This may happen due to serious medical issues, family emergencies, job changes, or natural disasters. Many Indian students and professionals undergo unexpected life events and need more flexibility. The CFA Institute has made it possible to defer, but you must know the process.
What is CFA Exam Deferral?
Deferring your CFA exam means rescheduling it to a future testing window. It helps students who cannot appear on their originally chosen exam date due to valid personal or professional reasons.
You do not have to cancel your exam and lose your fees. Instead, CFA Institute lets you defer your exam without losing registration if you meet the eligibility criteria. They offer this to help students manage unexpected events in life. This option has saved many candidates from losing their money and exam attempts.
The CFA deferral policy only allows deferral under certain severe conditions. You cannot defer just because you feel unprepared. You must follow the correct steps and provide proof. If your deferral request gets accepted, the CFA Institute will allow you to register again in the next testing window without paying full fees again.
Understanding what qualifies for deferral and how to request it properly is essential. Missing the deadline or sending the wrong documents can cause rejection. So, let’s now explore the valid reasons for deferral and the complete procedure.
Valid Reasons for CFA Exam Deferral
The CFA Institute has a strict list of reasons they accept for deferring an exam. You need to meet at least one of these to get approval.
Accepted Situations for Deferral
- Serious Medical Emergency: If you or your close family member faces a sudden medical emergency before or during the exam window, you can apply for a deferral. You must provide a doctor’s certificate.
- Loss of Immediate Family Member: The passing of a close family member like a parent, sibling, or spouse within a few weeks of the exam date is a valid reason.
- Natural Disaster or War: CFA Institute may approve your deferral if your city or country faces floods, earthquakes, or political violence that stops you from traveling to the exam centre.
- Mandatory Military Service: This is an acceptable reason if you are called for military duty during the exam.
- Government Travel Ban: If your country or state issues a sudden travel ban that stops you from reaching the centre, you can request a deferral.
What Is Not Accepted?
- Not feeling prepared.
- The workload at the job.
- The exam date clashes with other personal plans.
- No proper proof for your claim.
The CFA Institute may reject your application if your reason is not on the approved list. So always be honest and provide real, verifiable documents.
How to Defer CFA Exam: Step-by-Step Process
Once you know that your reason qualifies, you must apply correctly. Here is the step-by-step process for deferring the CFA exam.
Step 1: Contact the CFA Institute
Log in to your CFA account and raise a deferral request via the “Contact Us” form. Select the correct category, such as “Exam Deferral Request,” and clearly explain your situation.
Step 2: Upload Proof
Attach valid documents like medical certificates, death certificates, military service orders, or travel ban notices. Make sure these documents are recent, transparent, and authentic.
Step 3: Wait for Approval
The CFA Institute reviews each request case-by-case. The CFA deferral request approval time is usually 5 to 10 business days. You will get a confirmation email.
Step 4: Check New Registration Options
If your request is accepted, you will receive a voucher or an option to reschedule for the next exam window. You will not pay the full fee again.
Step 5: Register for New Exam Window
Use the voucher or your updated CFA dashboard to register again. Make sure you finish registration before the new deadline.
This process works best when you act quickly and submit accurate details. Delays or errors may lead to rejection.
CFA Deferral Policy Rules You Must Know
The CFA Institute has set important rules under its CFA exam deferral policy. Every candidate must understand these rules before requesting a deferral.
- You Can Defer Only Once Per Exam Cycle: CFA Institute allows one deferral per level per exam cycle. So, plan wisely. You cannot ask for another deferral for the same attempt.
- Deferral Is Not a Guarantee: Approval depends on proof and circumstances. Even if you have a valid reason, unclear or old documents can lead to rejection.
- Deadline to Apply: You must submit your request before your exam appointment or during the exam window. Requests after the exam window are not accepted.
- Fees Are Not Always Refunded: In most cases, you don’t get a refund. You only get a free registration shift to another window. If your case doesn’t qualify, you lose the fee.
Understanding these rules helps you avoid mistakes that may cost you time and money.
Documents Required to Defer CFA Exam
When applying for a deferral, you must send documents that support your claim. These documents must be recent, real, and easy to read.
Commonly Accepted Documents
- Medical Emergencies: A signed doctor’s letter or hospital report that explains your condition, dates, and why you could not take the exam.
- Family Bereavement: Death certificate or official hospital or legal authority notice with relationship details.
- Natural Disasters: News reports, government alerts, or travel warnings with dates matching your exam window.
- Military Duty: Letter or order from the government or army mentioning your name and call-up period.
If your documents are not in English, attach a translated version. Also, make sure your name and dates match the claim.
CFA Exam Deferral Fee and Cost
In most genuine deferral cases, CFA Institute waives any re-registration cost. However, some situations may involve a small deferral processing charge.
Key Points on Deferral Fee
- For medical or emergency deferrals with proof, there is no extra fee.
- If you defer using the one-time paid deferral option (without a medical issue), you may pay a fee (around USD 250).
- This paid option is only available in specific exam cycles.
- If required, you must pay the fee within the deadline or lose the exam registration.
Always check your CFA dashboard or official email for payment links or deadlines.
How Many Times Can You Defer the CFA Exam?
Students often ask, how many times can I defer the CFA exam? The answer depends on your situation and CFA policies.
Deferral Limits
- CFA Institute allows deferral only once per exam level per cycle.
- If you misuse this policy or send false documents, CFA may ban or suspend you.
- If you defer for valid reasons and still face problems, write to the CFA Institute again with fresh documents.
So, use your deferral wisely. Could you not depend on it for exam prep gaps? Save it for real emergencies.
What to Do After Deferral Is Approved?
After your deferral request is approved, you must plan your preparation again. Don’t lose your study flow.
Tips to Use Extra Time Wisely
- Make a new study plan with weekly goals
- Take more mock tests to improve accuracy.
- Join CFA study groups or coaching to keep discipline.
- Track CFA Institute’s emails for new deadlines.
Also, ensure your ID and login details are ready for the new exam date.
How to Defer the CFA Exam FAQs
Q1. Can I defer my CFA exam without a reason?
No, the CFA Institute allows deferral only for valid emergencies. You cannot defer just because you’re not ready.
Q2. Is there a fee to defer the CFA exam?
The fee is waived if you defer for medical or other approved reasons. For optional deferral, you may pay USD 250.
Q3. How can the CFA exam in India be deferred?
Log in to your CFA dashboard, raise a support request, submit proof, and await confirmation. The process is the same worldwide.
Q4. Can I get a refund if I defer?
Usually, CFA Institute does not refund your fee. Instead, you can re-register for a future exam window at no extra cost.
Q5. How long does deferral approval take?
CFA deferral request approval time is 5 to 10 business days. You will get an email with the decision.
Q6. How many times can I defer the CFA exam?
You can defer once per exam cycle per level. Further requests must be backed by new proof and strong reasons.
Q7. Can I change the exam location during deferral?
Once your deferral is approved, you can choose a new location based on slot availability when re-registering.
