为了使学员可以更好的整合多项任务和提高专业兼容性，协会由2021年正式启动CFA一级的机考考试。

　　其中考试时间具体分布如下：

　　图片截取自CFA协会官网https://www.cfainstitute.org

　　重点解读

　　▪考生可以自行选择考试时间。

　　▪全球考点增加至400个（2019年6月不完全统计为近200个）。

　　▪每年开设4次一级机考考试，单考生最多只能注册两次机考考试。一级考试将全部改为机考考试不再有常规考试。

　　官网Q&A部分：

　　Q.What will the exam cycle look like once you transition and will it change how long it takes to complete the program?

　　We plan to offer Level I CFA Program computer-based testing in four windows each year(February,May,August,and November)held in more locations around the world than we currently offer.The first computer-based exam will be offered in February 2021.Each window will offer a maximum of seven days during which candidates can sit for the exam.The length of exam windows will vary from city to city depending on demand.

　　We are committed to maintaining the rigor of the exam and the candidate experience.Every candidate who does not pass Level I will have to wait a minimum of six months to retake the exam–the same timeframe as current candidates must wait.Candidates who pass the first Level I CBT exam will have to wait until registration opens for the next available Level II exam,which is also a minimum of six months.Candidates will move through the program at the same pace as they can currently.

　　重点解读

　　1.机考考试每年有四个考季，分别为2月，5月，8月和11月（以前6月和12月的第一个周六），每个考季最多可持续七天，每个城市的考季长度不定。

　　2.对于一级需要重考的考生，重考日期间隔为至少6个月(与之前相同)。

　　3.如果考生顺利通过一级，必须等待至少6个月才能进行二级的考试。因此三个级别的通关总时间不变。

　　此处需注意：如果你在当年2月份完成了一级考试，则需要在次年的6月份参加二级考试，备考时间加长容易遗忘一级的知识点。

　　Q.Will the exam format change?

　　With the transition to computer-based testing,CFA Institute will implement a change in exam length.In February 2021,we will reduce the Level I CFA Program exam to 180 questions resulting in a proportional reduction in testing time.CFA Institute invested in independent psychometric research which clearly showed that a shorter exam would not affect our ability to reliably determine who has demonstrated the required competency to pass the exam.Just as a thermometer does not provide more accurate readings with longer measurements,the longer exam is not providing sufficient additional insights to warrant remaining at 240 questions.

　　Each exam appointment will include:

　　·30 minutes allotted to pledge,tutorial,and survey

　　·135 minutes for session 1

　　·30 minutes for mandatory break

　　·135 minutes for session 2

　　·Total testing time is 4.5 hours

　　·Total appointment time is 5.5 hours

　　Following each exam window,we will determine the Minimum Passing Score based on performance as we always have.We know exam results will be released faster,however,we have not yet established the exact amount of time for results to be released.We expect to provide a more reasonable expectation after the first few CBT administrations.

　　重点解读

　　1.协会在不影响对考生能力和兼容成立考核情况下，出于人性的种种考虑缩短了考试时间，因此减少了考试题目。但此项改革是否就是一大利好，仍需要我们深思与长时间的探索。

　　2.改革之后：考试时间分为上下半场分别为135分钟，中间休息时间为半个小时。中间休息时间明显缩短，考生无法像之前的考试一样用正餐，需要准备一些扛饿热量高的速食易携带食物，但此类食物的特点就是容易引发胃肠不适，考生需要在考前对身体进行调节。