CFA®
Exam Dates
CFA® Exam Dates
Level I Test Dates
Exam Period
Exam Dates
November 2021
16-22 November 2021
February 2022
15–21 February 2022
May 2022
17–23 May 2022
Level II Test Dates
Exam Period
Exam Dates
November 2021
26-30 November 2021
February 2022
22–26 February 2022
Level III Test Dates
Exam Period
Exam Dates
November 2021
23-25 November 2021
May 2022
24–26 May 2022
For more details, please visit: www.cfainstitute.org/en/programs/cfa/exam
How difficult is it to pass the CFA Exam?
Historically, the 10-year average pass rate of CFA Level I and CFA Level II is less than 45%.†
The pass rates listed below are from the most recently taken exams.
CFA Level I Exam Pass Rate
- July 2021 CFA Level I exam pass rate: 22%
CFA Level II Exam Pass Rate
- May 2021 CFA Level II exam pass rate: 40%
CFA Level III Exam Pass Rate
- May 2021 Level III exam pass rate: 42%
What is the recommended amount of time
to study for the CFA Exams?
The CFA has stated that candidates should spend an average of 300 hours studying for each level of the CFA Program exam. Therefore, you need to prep right with the resources tailored for passing the exam. It’s all about efficient results—our courses are designed to help students pass the exam in only 120 study hours. Learn More >
CFA Program Pass Guaranteed*
Your guide to passing the Level I or Level II CFA exam. Guaranteed.*
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