Exam Information, Dates and Fees

Exams That Evolve in Complexity

CFA Program includes a series of three exams: Levels I, II, and III. Each level of the curriculum builds on the prior level and becomes increasingly complex. The chart below explains the differences between each exam so you can prepare accordingly.

Learn more about the study tools and resources you will have access to as part of CFA Program

	Level I	Level II	Level III
Level Requirement	Meet CFA Program enrollment requirements	Pass Level I CFA exam and meet CFA Program enrollment requirements	Pass Level II CFA exam and meet CFA Program enrollment requirements
Question Format	Multiple choice questions	Vignette-supported multiple choice questions	Vignette-supported essay questions and vignette-supported multiple choice questions
Exam Results Availability	Within 5-7 weeks of taking the exam and completion of your Practical Skills Module	Within 5-7 weeks of taking the exam and completion of your Practical Skills Module	Within 6-8 weeks of taking the exam
10 Year Average Pass Rate	41%	45%	52%
Details	View Quick Start Guide for Level I View Level I Details	View Quick Start Guide for Level II View Level II Details	View Quick Start Guide for Level III View Level III Details

Use the CFA Exam Calendar to Keep Track of Important Exam Dates

For a printable PDF of the CFA Exam Calendar, click here.

These dates are subject to change as conditions warrant. Each exam is administered within an exam window, while the exam dates available to each candidate may vary based on appointment availability at the time of scheduling. All deadlines are 11:59 p.m. ET. CFA Institute reserves the right to close registration and scheduling dates earlier than previously announced as conditions warrant. For more information on Registration and Scheduling please visit our CFA Exam Updates page.

Note that exam registration is a two-step process. You must first register for your exam; then schedule your actual exam appointment. Learn more about computer-based testing.

*For candidates who reside in India, read more about the Equated Monthly Installment option offered by Eduvanz

Registration Closes

8 August 2023Level I
Registration Closes

8 August 2023Level II
Registration and Scheduling Opens

15 August 2023 Level I
Registration and Scheduling Opens

15 August 2023 Level II
Scheduling Deadline

16 August 2023Level I
Scheduling Deadline

16 August 2023Level II
Deadline to register with invoice payment option*

29 September 2023Level I
Deadline to register with invoice payment option*

29 September 2023Level III
Early Registration Deadline

12 October 2023Level I
Early Registration Deadline

12 October 2023Level II
Rescheduling Deadline

13 October 2023Level I
Rescheduling Deadline

20 October 2023Level II
Registration Closes

8 November 2023Level I
Registration Closes

8 November 2023Level III
CFA Exam Dates

11 - 17 November 2023Level I
Registration and Scheduling Opens

14 November 2023Level I
Registration and Scheduling Opens

14 November 2023Level II
Registration and Scheduling Opens

14 November 2023Level III
CFA Exam Dates

18 - 22 November 2023Level II
Scheduling Deadline

21 November 2023Level I
Scheduling Deadline

21 November 2023Level III
Deadline to register with invoice payment option*

28 December 2023 Level I
Deadline to register with invoice payment option*

28 December 2023 Level II
Rescheduling Deadline

16 January 2024Level III
Rescheduling Deadline

20 January 2024Level I
Early Registration Deadline

23 January 2024Level I
Early Registration Deadline

23 January 2024Level II
Early Registration Deadline

23 January 2024Level III
Registration Closes

6 February 2024Level I
Registration Closes

6 February 2024Level II
Registration and Scheduling Opens

8 February 2024Level I
Registration and Scheduling Opens

8 February 2024Level II
Scheduling Deadline

14 February 2024Level I
Scheduling Deadline

14 February 2024Level II
CFA Exam Dates

15–18 February 2024Level III
CFA Exam Dates

19–25 February 2024Level I
Deadline to register with invoice payment option*

4 April 2024 Level I
Deadline to register with invoice payment option*

4 April 2024 Level II
Deadline to register with invoice payment option*

4 April 2024 Level III
Rescheduling Deadline

15 April 2024Level I
Early Registration Deadline

16 April 2024Level I
Early Registration Deadline

16 April 2024Level II
Rescheduling Deadline

22 April 2024Level II
Registration Closes

14 May 2024Level I
Registration Closes

14 May 2024Level II
Registration Closes

14 May 2024Level III
CFA Exam Dates

15-21 May 2024Level I
Scheduling Deadline

21 May 2024Level I
Scheduling Deadline

21 May 2024Level II
Scheduling Deadline

21 May 2024Level III
CFA Exam Dates

22-26 May 2024Level II
Deadline to register with invoice payment option*

28 June 2024 Level I
Deadline to register with invoice payment option*

28 June 2024 Level II
Rescheduling Deadline

17 July 2024Level III
Rescheduling Deadline

21 July 2024Level I
Rescheduling Deadline

28 July 2024Level II
Registration Closes

7 August 2024Level I
Registration Closes

7 August 2024Level II
Scheduling Deadline

13 August 2024Level I
Scheduling Deadline

13 August 2024Level II
CFA Exam Dates

16-19 August 2024Level III
CFA Exam Dates

20-26 August 2024Level I
CFA Exam Dates

27-31 August 2024Level II
Rescheduling Deadline

14 October 2024Level I
Rescheduling Deadline

21 October 2024Level II
CFA Exam Dates

13-19 November 2024Level I
CFA Exam Dates

20-24 November 2024Level II

*Please see our payment methods page for more details.

CFA Program Costs

Registration costs vary depending on when you decide to register for the exam.

All fees shown are net of any local Value-Added Tax (VAT), Goods and Services Tax (GST), Sales Tax or any similar tax payable by the candidate in their country of residence. Where CFA Institute is required to collect such taxes at the local statutory rate, this will be added to the fees shown during the payment/checkout process.

For information about taxability related to online purchases from CFA Institute, please visit our Tax Policy page.

May 2024
August 2024

Early Registration Fee

USD 940

Early registration period applies from 15 August 2023 through 12 October 2023 at 11:59 p.m. ET and is available for Level I and Level II.

Standard Registration Fee

USD 1,250

Standard registration period applies from 13 October 2023 through 6 February 2024 at 11:59 p.m. ET and is available for Level I and Level II.

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Early Registration Fee

USD 940

Early registration period applies from 14 November 2023 through 23 January 2024 at 11:59 p.m. ET and is available for Level I, Level II, and Level III.

Enroll and Register

Standard Registration

USD 1,250

Standard registration period applies from 24 January 2024 through 14 May 2024 at 11:59 p.m. ET and is available for Level I, Level II, and Level III.

One-Time Enrollment Fee

There is a one-time enrollment fee of USD 350 when you register for CFA Program and the Level I exam. This fee will not be applied to subsequent exams. All fees must be paid in US dollars.

Rescheduling Fee

If you wish to reschedule your exam appointment within your exam window, a USD 250 rescheduling fee will apply.

Payment Methods

See the different payment methods CFA Institute accepts. For candidates residing in India, you may find more information on the Equated Monthly Installment plan offered by Eduvanz.

Take the Next Step in Your Career

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