The CFA Institute will move to online testing ahead of schedule, saying the COVID-19 pandemic is forcing the group to end in-person exams for the Chartered Financial Analyst program sooner than planned.

The CFA Institute offers three levels of exams. The group had previously announced the transition to computer-based testing for its Level I exams with plans to transition its Level II and III exams at a later date.

In a news release Tuesday, the institute said it is speeding up the transition to computer-based testing because of COVID-19. The group will transition to online testing for all three levels of exams starting in 2021, with the final paper-based exams to be given in December of this year.

"While the last paper-based test marks the end of an era for CFA Institute, technological advances in computer-based testing enable us to meet the growing global testing demands of candidates and will improve their experience with a wider selection of test venues and more flexible scheduling options," said Margaret Franklin, CEO of CFA Institute. "We are working diligently to ensure a seamless transition and superior exam experience for our candidates."

Registration for the institute's 2021 exams begins Aug. 20. CFA Institute will work with technology company Prometric as its primary collaborator to administer the exams, with the U.K.-based British Council serving as collaborator in India and Africa.

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