CFA Institute Refuses Refund
I had registered for the June 2020 CFA Level I exam and paid $1450 as enrollment and registration fees. Due to the current pandemic the CFA Institute has postponed all June examinations. However they are only offering the exam in December 2020 at the earliest or sometime in 2021. I am unable to appear for the exam during these months as I have plans to pursue an MBA. I have communicated the same to them but the CFA Institute states that no refund will be offered as the exams are being postponed. I would like to know what course of action is available to me?
Free Legal Advice - consumer matters
Posted by: Nikita Kejriwal
Posted on: 2020-04-23
Dear Sir, They cann’t say like that. Get issue a legal notice and they will come down. Please rely upon principle of Force Majeure as per which you can cancel your commitment to appear for the exam.You need discussion if you wish particular solution to resolve your issue. You can get my mobile number from the administrators of this website.
send them notice through lawyer & file complain in consumer court& claim heavy compensation.
Need to look into terms and conditions for addmission and also refund policy. Thereafter, suitable course of action can be taken.
I presumed that the form filled in by you particularly mentioned that it was for the exam to be conducted in June 2020 and accordingly you have paid $1450 as enrollment and registration fees. If you have enrolled yourself for the exam to be conducted in particular month and if is being postponed by the institute beyond a reasonable time for any reason then you have definitely an option to either opt for it or reject the same and ask for the refund, In your case the exam is being postponed beyond six months beyond reasonable time so you are definitely entitled for the refund of the fees you have paid for June, 2020 exams. for better understanding your matter need to see the prospectus and the registration form filled in by you.
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