CFA® Fee and Exam Structure
| CFA Exam Attempt | May 2025 | August 2025 | November 2025 | ||||
| Early Exam fee (8th Aug- 16th Oct'24) | Standard Exam fee (17th Oct- 6th Feb'25) | Early Exam fee ( 6th Nov- 29th Jan'25) | Standard Exam fee (30th Jan- 6th May'25) | Early Exam fee (12th Feb - 9th Apr'25) | Standard Exam fee (10th Apr - 5th Aug'25) | ||
| Level-1 | USD 990 | USD 1290 | USD 990 | USD 1290 | USD 990 | USD 1290 | |
| Level-2 | USD 990 | USD 1290 | USD 990 | USD 1290 | USD 990 | USD 1290 | |
| Level-3 | - | - | USD 990 | USD 1390 | - | - | |
*The one-time enrollment fee of USD 350 is charged when you first enroll for the Level I exam; it is not charged for subsequent exam or exam retakes.
***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. |