CFA® Fee and Exam Structure
| CFA Exam Attempt | February 2025 | May 2025 | August 2025 | ||||
| Early Exam fee (9th May- 9th July) | Standard Exam fee (10th July- 7th Nov) | Early Exam fee (8th Aug- 16th Oct) | Standard Exam fee (17th Oct- 6th Feb) | Early Exam fee (6th Nov- 29th Jan) | Standard Exam fee (30th Jan- 6th May) | ||
| Level-1 | USD 990 | USD 1290 | USD 990 | USD 1290 | USD 990 | USD 1290 | |
| Level-2 | - | - | USD 990 | USD 1290 | USD 990 | USD 1290 | |
| Level-3 | USD 1090 | USD 1290 | - | - | USD 1090 | - | |
*For 2024 & 2025, 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. |