CFA Exam Fee Schedule

The CFA Program enrollment fee, exam registration fee, and curriculum cost vary, depending on when you complete your registration and which curriculum format you select.

  • For each CFA exam there are three enrollment/registration deadlines.
  • Fees vary depending on the deadline by which enrollment and/or exam registration is completed (including receipt of payment).
  • First-time CFA Program applicants pay an initial one-time enrollment fee (plus an exam registration fee and possible fees associated with a curriculum selection‡).
  • Returning candidates pay only the exam registration fee (plus possible fees associated with a curriculum selection‡).
  • All fees are in U.S. dollars. View payment options.
  • Enrollment and registration fees are nontransferable and nonrefundable.* View the CFA exam Level I withdrawal policy.

Candidates are not able to register for an exam after the final deadline.

December 2013 Exam (Level I only)

We offer three options for purchasing the CFA Program curriculum: eBook only, print only, or both. We are unable to offer refunds or exchanges so we urge you to make your selection carefully. Select from the dropdown menu below to view pricing details.


Item First deadline
13 March
11:59 p.m. ET		 Second deadline
21 August
11:59 p.m. ET		 Final deadline
18 September
11:59 p.m. ET

Program Enrollment
(new Level I only)

 $440 $440 $530

Exam Registration

 $680 $780 $1,055

Curriculum eBook version

 save $40 save $40 save $40

Total

 Passed deadline $1,180‡ $1,545‡
Item First deadline
13 March
11:59 p.m. ET		 Second deadline
21 August
11:59 p.m. ET		 Final deadline
18 September
11:59 p.m. ET

Program Enrollment
(new Level I only)

 $440 $440 $530

Exam Registration

 $680 $780 $1,055

Curriculum Print version

 $20 shipping $20 shipping $20 shipping

Total

 Passed deadline $1,240‡ $1,605‡
Item First deadline
13 March
11:59 p.m. ET		 Second deadline
21 August
11:59 p.m. ET		 Final deadline
18 September
11:59 p.m. ET

Program Enrollment
(new Level I only)

 $440 $440 $530

Exam Registration

 $680 $780 $1,055

Curriculum Both eBook and print versions

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

Total

 Passed deadline $1,270‡ $1,635‡

>> Register for the December 2013 exam <<

‡Curriculum pricing details

When you register for a CFA 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 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. 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. Registration deferrals to the next available exam are also considered on a case-by-case basis for life-threatening or very serious illnesses (candidate or immediate family), natural disasters, and mandatory military service. This does not guarantee a deferral to any candidate for any condition but instead provides CFA Institute with the discretion to determine which deferral requests it approves and denies. Candidates awarded a deferral are responsible for all applicable new curriculum charges. Deferral requests must be received by CFA Institute prior to the scheduled exam or within 10 U.S. business days after the exam date.

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.