Exam Information, Dates and Fees (2024)

Exam Information, Dates and Fees

Passing the three exams marks true mastery of the curriculum and is the most important task required to earn the CFA® charter. On average, candidates report investing over 300 hours of study in advance of successfully passing each level.We host exams at test centers in most major cities around the world. Find a test center.

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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 and multiple choice questions. Choose one of three specialized pathways.
Exam Results Availability	Within 5-7 weeks of taking the exam and completion of your Practical Skills Module	Within 5-7 weeksof taking the examand completion of your Practical Skills Module	Within 6-8 weeks of taking the exam and completion of your Practical Skills Module (beginning with Feb 2025 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, clickhere.

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 ourCFA Exam Updatespage.

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

Level I May Exam Dates

15–21 May 2024

May 2024Level I

Level II May Exam Dates

22-26 May 2024

May 2024Level II

Level I August Exam Dates

20 - 26 August 2024

August 2024Level I

Level III August Exam Dates

16 August - 19 August 2024

August 2024Level III

Level II August Exam Dates

27 August - 31 August 2024

August 2024Level II

Level I November Exam Dates

13 - 19 November 2024

November 2024Level I

Level II November Exam Dates

20 - 24 November 2024

November 2024Level II

Level III Exam Dates

13-16 February 2025

February 2025Level III

CFA Level I Exam Dates

17-23 February 2025

February 2025Level I

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.

August 2024
November 2024
February 2025

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.

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.

Early Registration Fee

USD 940

Early registration period applies from 8 February 2024 through 16 April 2024 at 11:59 p.m. ET and is available for Level I and Level II.

Standard Registration

USD 1,250

Standard registration period applies from 17 April 2024 through 7 August 2024 at 11:59 p.m. ET and is available for Level I and Level II.

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Early Registration Fee - Level l

USD 990

Early registration period applies from 9 May 2024 through 9 July 2024 at 11:59 p.m. ET and is available for Level I and Level III.

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Early Registration Fee - Level lll

USD 1,090

Early registration period applies from 9 May 2024 through 9 July 2024 at 11:59 p.m. ET and is available for Level I and Level III.

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Standard Registration Fee - Level l

USD 1,290

Standard registration period applies from 10 July 2024 through 7 November 2024 at 11:59 p.m. ET and is available for Level I and Level III.

Standard Registration Fee - Level lll

USD 1,390

Standard registration period applies from 10 July 2024 through 7 November 2024 at 11:59 p.m. ET and is available for Level I 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.

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