CFA® Fee and Exam Structure
CFA Exam Attempt | Early Registration Deadline | Standard Registration Fee |
February 2024 (L-1, L-3) | USD 940 | USD 1250 |
May-24 (L-1 & L-2) | ||
August -24 (L-1, L-2 & L-3) | ||
November-24 (L-1, L-2) |
*For 2023 & 2024, the initial enrollment fee USD 350.
***For Upcoming attempts & Registration Deadline Date (CFA Registration Dates view details here).
CFA® Exam Structure
CFA Exam Structure & Duration | Level-I Exam | Level-II Exam | Level-III Exam |
Structure | The Level I exam consists of 180 multiple choice questions, split between two 135-minute sessions (session times are approximate). | The CFA Level II exam consists of 22 item sets comprised of vignettes with 88 accompanying multiple-choice questions. | The Level III exam consists of item sets comprised of vignettes with accompanying multiple-choice items and constructed response (essay) questions. |
Duration | First session (2 hours, 15 minutes): 90 multiple choice questions. Second session (2 hours, 15 minutes): 90 multiple choice questions. |
The Level II exam will be 4 hours and 24 minutes, split into two equal sessions of 2 hours and 12 minutes, with an optional break in-between. | The Level III exam will be 4 hours and 24 minutes, split into two equal sessions of 2 hours and 12 minutes, with an optional break in-between. |