CFA® Deferral: How to Reschedule Your Exam Date

Did you know that over 40% of the average professional’s 1-on-1 meetings are rescheduled?

Plain and simple, life doesn’t always go according to plan, and that includes your CFA® exam journey. Whether you’re experiencing an unexpected emergency, a scheduling issue, or just need more time, the CFA Institute provides options for candidates to defer their exam to a future date.

In this guide, I’ll explain the two types of deferrals—paid deferral and emergency deferral—along with rescheduling, key details like fees, policies, documentation requirements, and next steps. By the end, you’ll feel confident about how to reschedule your exam appointment if you need to.

Key Takeaways

• Rescheduling vs. Deferral: Rescheduling moves your exam within the same exam window, while deferral pushes your exam to a future exam window.
• Paid Deferral Costs: A paid deferral costs $399 (rising to $449 in February 2025) and allows you to postpone your exam for up to 12 months.
• Emergency Deferrals: Qualifying emergencies like illness, pregnancy, or military deployment may qualify for an emergency deferral with proper documentation.
• Non-Refundable Decisions: Once you defer your exam—whether paid or emergency—it’s binding. You can’t reverse the decision.
• Limited to One Deferral: You can only defer your exam once per registration. Any further changes require a brand-new exam registration.

Deferral vs. Rescheduling: Which is Right For You?

Knowing the difference between deferring and rescheduling is important so you can delay your exam to the right timeframe. Here’s a quick breakdown:

• Rescheduling: Moving your exam appointment within the same exam window. This costs $250 and is done through Prometric.
• Deferral: Moving your exam to a future exam window. This costs $399 for a paid deferral or $100 if you qualify for an emergency deferral.

Note that with either option, you’re paying more, but you don’t have to repay your exam registration fee or any additional exam fees. Rescheduling is pretty straightforward, so we’re going to focus on deferral for the majority of this article.

Exam Deferral Options: Paid vs. Emergency

The CFA Institute offers two types of exam deferrals:

1. Paid Deferral

If you can’t sit for your exam on the scheduled CFA® exam date due to personal reasons (like work commitments, travel, or study challenges), you can purchase a paid deferral for $399.

Here’s what you need to know:

• You must submit the deferral request before the deferral deadline for your exam window.
• Depending on the exam level and seat availability, you can defer your exam appointment for up to 12 months.
• Once purchased, your current exam registration and scheduled exam appointment are immediately canceled.
• Only one paid deferral is allowed per paid registration. If you defer and later change your mind, you can’t reverse the decision or defer again—you’ll need to pay for a new registration.
• No refunds are offered for paid deferrals.

Important: Starting with the February 2025 exam, the paid deferral fee will increase to $449.

2. Emergency Deferral

If you face a qualifying significant hardship, you may be eligible for a free emergency deferral. Emergency deferrals are evaluated on a case-by-case basis and require proper documentation.

Qualifying situations include:

• Life-threatening illness (for you or an immediate family member)
• Death of a candidate’s immediate family member (parent, sibling, spouse, or child)
• Mandatory military deployment during the exam window (candidate only)
• Pregnancy (candidate only; limited to one deferral per exam level)
• Prometric’s rescheduling of your exam appointment within 30 days of the exam window, where no new acceptable appointment date can be found.

Key details about emergency deferrals:

• Documentation (e.g., a doctor’s note, military orders, or a death certificate) is required.
• Starting in 2025, there will be a $100 processing fee for all approved emergency deferrals.
• Emergency deferrals can also defer your exam for up to 12 months, depending on availability and exam level.

Note: If you don’t qualify for an emergency deferral or can’t provide proper documentation, your request will be denied. In that case, you’ll still have the option to purchase a paid deferral if the deadline hasn’t passed.

Step-by-Step Guide to Rescheduling Your CFA® Exam

If you need to defer or reschedule your exam, follow these steps:

Step 1: Log into Your CFA Institute Account

Go to the CFA Institute’s website and log in. Your account is where you’ll manage your deferral request and check on updates.

Step 2: Choose the Right Deferral Option

• If it’s a personal reason, opt for the paid deferral.
• If it’s an emergency, gather your documentation and apply for an emergency deferral.

Step 3: Submit Your Request

• Paid Deferral: Follow the prompts, pay the fee, and confirm your decision.
• Emergency Deferral: Complete the emergency deferral request form (when available) and upload the required documentation. Keep in mind that it can take up to seven weeks for your request to be reviewed.

Step 4: Confirm Your New Exam Window

Once approved, you’ll receive a registration voucher code for a future testing window. Log back into your account to:

• Register for your new exam window (registration deadlines apply).
• Schedule your exam appointment with Prometric.

Step 5: Continue Your Preparation

You’ll retain access to the Learning Ecosystem (LES) during your deferral period. If you register for an exam in the next calendar year, your LES will be updated to reflect the new curriculum.

Important Notes About the CFA® Deferral Policy

To avoid surprises, keep these key points in mind:

• No Reversals: Once you purchase a paid deferral, it’s binding. You can’t reverse the deferral if you decide later that you can sit for the exam.
• Only One Deferral Per Registration: Whether it’s paid or emergency, you can’t defer a second time unless you pay for a new registration.
• Documentation Matters: Emergency deferrals require clear, valid documentation. Submitting false documents violates the CFA Institute Code of Ethics and can result in serious penalties, including being barred from the program.
• Registration Deadlines Apply: If registration has already closed for your new exam window, you must pick a different window.

Final Thoughts

While unforeseen circumstances may disrupt your plans, the CFA Institute’s deferral and rescheduling options provide the flexibility to adapt without losing sight of your goals. Whether you’re opting for a paid deferral or applying for an emergency deferral, understanding the policies and acting promptly will help you navigate the process smoothly.

Deferrals should be a last resort—sticking to your original exam date keeps you aligned with your study momentum and overall timeline. If deferring is unavoidable, use the extra time wisely to create a robust study plan and strengthen your preparation for the next exam window.

Remember, setbacks don’t define your success—your determination does. With the right mindset and preparation, you can tackle any obstacle and move closer to earning your CFA® charter.

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