When Is the CFA Exam?

"When is the CFA® exam?" is one of the first questions you want to be answered if you’re planning to sit for the exam. This article has information about the CFA exam dates and schedules for each exam level.

Table of Contents

• CFA Exam Dates

• CFA Exam Cost

• How To Register For The CFA Exam

• What To Bring On CFA Exam Day

CFA Exam Schedule: A Regular Cadence for CFA Exam Dates and Schedules

In 2025 and 2026, the CFA Institute will offer the CFA exam on a regular schedule.

• Level I will be offered four times a year in February, May, August, and November

• Level II will be offered three times a year in May, August, and November

• Level III of the CFA exam will be offered twice a year in February and August

2025-2026 CFA Exam Dates

The specific CFA exam windows/dates for each level of the CFA Program are as follows:

2025-2026 CFA Level I Exam Dates

2025-2026 CFA Level II Exam Dates

2025-2026 CFA Level III Exam Dates

Before you choose your CFA exam date, download this free Before You Decide to Sit for the CFA Exam eBook.

How Much Does the CFA Exam Cost?

CFA exam costs vary depending on when you decide to register for the exam. Currently, the registration fee for Level I and Level II of the CFA exam is $1,140 for early bird registration and $1,490 for standard registration. For Level III of the CFA Program the early bird registration fee is $1,240 and for regular registration is $1,590.

How To Register for the CFA Exam in 2025-2026

The CFA exam is administered to registrants in a computer-based testing format for three levels, which ended 60 years of paper-based testing for Level ll and Level lll. To register for the CFA exam, you must first register with the CFA Institute; then you will be given the option to schedule your exam during one of the dates provided by the CFA Institute.

Bring These Materials To Your CFA Exam:

1. A valid international passport: this is the only type of identification that will be accepted for admission

2. Your CFA Exam Admission Ticket: the CFA Institute will alert you when your ticket is available, at which point you should print it on clean paper

3. An approved calculator: the TI BAII Plus or the Hewlett Packard 12C

   1. Tip: bring extra batteries and a backup calculator, if you have one

4. Pencils: multiple sharpened #2 pencils

   1. High-quality erasers

   2. Pencil sharpener

5. A sweater or jacket in case you get cold in your testing room

6. A wristwatch to make timing as simple as possible

   1. FYI: Smartwatches are not allowed!

7. Earplugs to help avoid distractions in your testing room

Do Not Bring These Materials To Your CFA Exam:

1. Food

2. Drinks

3. Study/prep materials

4. Phones

5. Tablets

6. Computers

7. Highlighters

8. Correction fluid

9. Rulers

10. Pencil cases

11. Large purses/bags

12. Scratch paper

13. Unapproved calculators

14. Calculator manuals

15. Timers

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