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Critical Exam Day Change

Beginning with the December 2012 exam, CFA Program exams will be held on Saturday only. This change ensures that all candidates receive a similar exam day experience and strengthens the security of the CFA Program.

View the exam calendar
CFA Exam Fee Schedule

CFA Program applicants pay an initial one-time enrollment fee. In addition, applicants are required to pay an exam registration fee.

Returning candidates pay only the exam registration fee.

We are unable to offer refunds or exchanges so we urge you to make your selection carefully.*

View the CFA exam Level I withdrawal policy.


June 2012 Exam (Levels I, II, and III)

All fees are in U.S. dollars.

We offer three options for the CFA Program curriculum: eBook only, print only, or both.


Item by

21 September

11:59 p.m. ET		 by

15 February

11:59 p.m. ET		 by

14 March

11:59 p.m. ET

Program Enrollment
(new Level I only)

 $420 $420 $505

Exam Registration

 $650 $745 $1,005

Curriculum eBook version

 save $40 save $40 save $40

Total

 Past deadline $1,125‡Register now $1,470‡
Item by

21 September

11:59 p.m. ET		 by

15 February

11:59 p.m. ET		 by

14 March

11:59 p.m. ET

Program Enrollment
(new Level I only)

 $420 $420 $505

Exam Registration

 $650 $745 $1,005

Curriculum Print version

 $20 shipping $20 shipping $20 shipping

Total

 Past deadline $1,185‡Register now $1,530‡
Item by

21 September

11:59 p.m. ET		 by

15 February

11:59 p.m. ET		 by

14 March

11:59 p.m. ET

Program Enrollment
(new Level I only)

 $420 $420 $505

Exam Registration

 $650 $745 $1,005

Curriculum Both eBook and print versions

 $50 (includes shipping) $50 (includes shipping) $50 (includes shipping)

Total

 Past deadline $1,215‡Register now $1,560‡



December 2012 Exam (Level I only)

All fees are in U.S. dollars.

We offer three options for the CFA Program curriculum: eBook only, print only, or both.


Item by

14 March

11:59 p.m. ET		 by

22 August

11:59 p.m. ET		 by

12 September

11:59 p.m. ET

Program Enrollment
(new Level I only)

 $420 $420 $505

Exam Registration

 $650 $745 $1,005

Curriculum eBook version

 save $40 save $40 save $40

Total

 $1,030‡Register now $1,125‡ $1,470‡

Item by

14 March

11:59 p.m. ET		 by

22 August

11:59 p.m. ET		 by

12 September

11:59 p.m. ET

Program Enrollment
(new Level I only)

 $420 $420 $505

Exam Registration

 $650 $745 $1,005

Curriculum Print version

 $20 shipping $20 shipping $20 shipping

Total

 $1,090‡Register now $1,185‡ $1,530‡

Item by

14 March

11:59 p.m. ET		 by

22 August

11:59 p.m. ET		 by

12 September

11:59 p.m. ET

Program Enrollment
(new Level I only)

 $420 $420 $505

Exam Registration

 $650 $745 $1,005

Curriculum Both eBook and print versions

 $50 (includes shipping) $50 (includes shipping) $50 (includes shipping)

Total

 $1,120‡Register now $1,215‡ $1,560‡

‡2012 curriculum pricing details

When you register for the June 2012 exam, you can choose from three curriculum options (all fees are in U.S. dollars):

  • If you select the eBook version of the curriculum only, we offer a US$40 discount: Enrollment + exam registration - $40 = total cost.
  • If you select the printed version of the curriculum only, you do not receive the $40 discount: Enrollment + exam registration + $20 (shipping*) = total cost.
  • If you select both the eBook version and the printed version of the curriculum, you pay the cost of the additional curriculum ($30) plus shipping: Enrollment + exam registration + $30 (+$20 shipping for the printed version*) = total cost.

We are unable to offer refunds or exchanges so we urge you to make your selection carefully. More information about the 2012 curriculum format choices

*The exam registration fees also include the complete curriculum and one mock exam per level. Sample exams are available for purchase. The curriculum portion of the fees may be taxed in some jurisdictions. Customs policies vary widely from country to country. International shipments may be subject to import duties and taxes, which are levied once a shipment reaches your country. You must pay any additional charges for customs clearance; we have no control over these charges and cannot predict what they may be. Delivery delays may result if customs does not receive appropriate documentation. Contact your local customs office for further information.

Enrollment and registration fees are nontransferable and nonrefundable. Application and payment must be received by CFA Institute by 11:59 p.m. Eastern time on or before the application deadline. Full refunds are available within two business days of payment if you change your mind. Registration deferrals to the next available exam are also considered on a case-by-case basis for life-threatening or serious illnesses (candidate or immediate family), natural disasters, and mandatory military service. Deferral requests must be received by CFA Institute prior to the scheduled exam or within 10 days after the exam date. Due to fluctuating exchange rates outside our control, we cannot guarantee that the exact amount paid to CFA Institute will be the same amount (in other currency) returned.

If you need to apply for a visa to travel to a distant test center, please make arrangements well in advance. It is your responsibility to secure any necessary travel documents.

June Level I candidates who re-register in the same calendar year (Level I exams are held in June and December) will not be charged again for the curriculum.

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