The Financial Industry Regulatory Authority is ending most of the online testing options instituted during the COVID-19 pandemic, according to a report by AdvisorHub.
In April 2020, FINRA announced the adoption of an interim accommodation process to allow candidates to take industry licensing exams online. Candidates were allowed to use their personal or firm-provided, camera-equipped computer to take the qualifications exams, which were proctored by Prometric staff through the camera and other online tools.
Recently, FINRA issued a notice saying that it would be ending the interim accommodation process as of June 9 and changing the availability of taking online exams, other than its entry-level test, Securities Industry Essentials (SIE). The SIE will continue to be administered both in-person and online after June 9. Individuals taking the test do not have to be registered with a firm.
“For all other FINRA exams, we believe we are now at a place where we can address ongoing impacts of COVID-19 through targeted access to online testing,” FINRA said. A spokesperson for the authority said the vast majority of firms and candidates preferred to have the exams administered in person.
Those who are immunocompromised and at increased risk of severe illness, have underlying health conditions, or live over 150 miles from a test center will still be able to request an online exam through the existing accommodations process starting June 9. FINRA said it would continue to assess the impact of the pandemic and may make other changes in the future.
Candidates were advised to visit the Schedule an Exam page for more information about requesting testing accommodations.
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