Coronavirus Update (COVID-19)

Important information for Level II Candidates: In the wake of the coronavirus (COVID-19) outbreak, we want to assure you that the safety and well-being of our community is paramount to the CAIA Association.

To Level II Candidates:

Below is an update on your Level II exam in light of recent site Pearson VUE closures and resulting exam cancellations. First, let me reiterate that CAIA Association’s priority has been and will continue to be the safety and well-being of our CAIA Candidates and the broader CAIA community as we navigate this increasingly challenging situation.

For our Level II Candidates who had not already deferred their exam, this further escalated as we began the Level II exam window with notice that Pearson VUE had closed their sites and canceled all exam seats in Canada and the US, and reduced capacity in a number of countries which may have initiated your seat being cancelled. (Note: Pearson VUE has indicated they may reopen US and Canada on April 16, however, the CAIA exam window ends on March 27.)

I assure you that at every turn of this crisis we have worked to keep Candidate needs at the center of our decision-making process.

Direct updates from Pearson VUE can be found here:

Recently, we offered all Level II Candidates the option to defer their exam to September 2020. In light of recent closures and significantly reduced capacity, we are now offering the additional option to receive a refund of your exam registration fee.

If you chose to defer already, you have two options:

  • Your deferral remains intact, and you will receive information about the September exam in April (and once submitted, no further action is required).
  • You may change your choice from deferral to refund by completing the form here.

If you received notification that your exam has been cancelled or site closed, you have two options:

Note: all refunds will be processed by CAIA within 7-10 business days (Refunds may take up to 30 days to appear on your credit card).

Once you have completed the form, no further action is needed by you.

I wish there were a third option—to give you your personal study time back, which is the hardest part of this communication. Sadly, there is nobody to see about that and for that, too, I have clearly heard and feel your pain.

Many of you have already asked our Candidate team if you can take the exam earlier than September. We understand this request, considering your preparation, however, this option is not within our complete control. Our exam testing windows are established years in advance in coordination with Pearson VUE, given their global portfolio of clients. We do not know when things will normalize but do know that we have a currently scheduled exam window for September 2020.

With great appreciation for what you have been through and stand for as a professional, I thank you for your commitment to education and upholding the highest standards of our industry.


William J. Kelly, CEO, CAIA Association