How to register for the CFA exam: enrolment, deadlines and booking your seat
Registering for a CFA exam has more steps than most candidates expect, and the costly mistakes are all about timing. This guide walks through the order of things: check you are eligible, pick a window, register and pay, then schedule your own appointment, with the fees and the rules that apply along the way.
1. Check you can enrol
You must meet one of three criteria: a bachelor's degree, being an undergraduate in the right window, or 4,000 hours of work and/or higher education over at least three years. You also need a valid passport. See CFA exam requirements. CFA Institute may ask for proof of your education or experience, so have it to hand.
2. Choose your level and window
Level I is offered four times a year, Level II three times and Level III twice. The windows and the registration deadlines for each are on the exam dates page. Count back from the window you choose to set your study start: CFA Institute suggests around 300 hours per level. See how many hours to study.
If you have sat a level before, remember the retake rules: not in consecutive windows or less than six months apart. See the retake policy.
3. Register and pay, ideally in the Early period
Registration fees depend on when you register. The Early period is cheaper than the Standard period at every level, and the deadlines are on the dates page. The fees are on the fees page, and the whole picture is in how much the CFA costs.
If money is the obstacle, apply for a scholarship before you register: you cannot apply if you are already registered for an exam or waiting for results. See CFA scholarships.
4. Schedule your exam appointment
Paying the fee does not book your seat. You are responsible for scheduling your exam appointment by the published deadline for your exam window. Appointments are first-come, first-served, and availability varies by test centre. CFA Institute presents the test centre options that have confirmed seating during the scheduling process, and all test centres are subject to change based on availability and demand, so schedule early.
If you are seated in a separate room for a reason that is not about testing accommodation, that does not guarantee you a similar arrangement next time.
5. If your plans change
- Rescheduling within your exam window costs a non-refundable USD 250 plus any applicable taxes, and must be done by the published deadline.
- Not scheduling or not sitting the exam costs the whole fee. If you fail to schedule or fail to sit the exam, including if you are refused admission for arriving late, your exam fees are non-refundable, non-deferrable and non-transferable.
If there is a disruption during the exam, such as a technical or environmental problem, and you can continue, you must. If you leave the test centre, CFA Institute will not approve a rescheduling or a deferral of your registration.
6. On the day
- Arrive 30 minutes before your appointment, as CFA Institute recommends.
- Bring an approved calculator, and check the identification you need, since a valid passport is required. See the calculator rules.
- Expect security checks. Staff inspect personal belongings, clothing and eyeglasses and use a metal detector wand, before check-in and before re-entering the room after a break. Test centres are monitored by CCTV.
- Follow the on-screen prompts. Check-in and security may finish earlier or later than scheduled, so the tutorial and exam may start earlier or later than your appointment. Know when the tutorial ends and when the real exam begins, so you do not end the exam by accident.
- Breaks: you can take up to two unscheduled breaks, but the testing time is not paused. You cannot leave the test centre, and you cannot use your phone, electronic devices or study materials. With authorisation you may access water, food or medical items.
The general exam day procedures on the CFA Institute website may vary slightly with local requirements, and you must follow them or you will not be admitted to the testing room.
Common questions
How do I register for the CFA exam?
Enrol with CFA Institute, register and pay for your level and window, then schedule your own appointment by the published deadline. See the steps above.
Is registering the same as booking my seat?
No. You must schedule your exam appointment yourself by the published deadline, and appointments are first-come, first-served.
How much does it cost to reschedule?
USD 250 plus any applicable taxes, which is non-refundable, and you must reschedule by the published deadline.
What if I miss the exam or arrive late?
Your fees are non-refundable, non-deferrable and non-transferable, including if you are refused admission for arriving late.
Sources
- CFA Institute, The CFA Program: enrolment, the admission and appointment policy and the exam-day procedures.
- CFA Institute, Exam dates and fees: windows, deadlines and registration fees.
Policies, fees and deadlines change. Check the current figures on the CFA Institute website before you register.