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CFA®
Exam Dates
 

Level I and Level II CFA® Exam Dates

Covid-19 Update: For the safety of our global community, CFA Institute has made the decision to postpone the following exam administrations.
Get more info.
Postponed Exam Dates:
  • June 2020
  • December 2020

Level I Test Dates

Exam Date Window
Early Registration Deadline
Registration Closes
Scheduling Deadline
Rescheduling Deadline
February 23 - March 1, 2021
August 13, 2020
December 7, 2020
December 14, 2020
January 25, 2021
May 18 - May 24, 2021
November 3, 2020
February 23, 2021
March 10, 2021
April 16, 2021
August 24 – August 30, 2021
February 2, 2021
May 4, 2021
May 23, 2021
July 22, 2021
November 16 – November 22, 2021
May 4, 2021
August 10, 2021
August 25, 2021
October 14, 2021

Level II Test Dates

Exam Date Window
Early Registration Deadline
Registration Closes
Scheduling Deadline
Rescheduling Deadline
May 18 - May 24, 2021
November 3, 2020
February 23, 2021
March 10, 2021
April 16, 2021
August 24 – August 30, 2021
February 2, 2021
May 4, 2021
May 23, 2021
July 22, 2021

Level I Test Dates

CFA Dates Chart Info
CFA Dates Chart Info
CFA Dates Chart Info
CFA Dates Chart Info

Level II Test Dates

CFA Dates Chart Info
CFA Dates Chart Info

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

  • June 2019 CFA Level I exam pass rate: 41%
  • December 2019 CFA Level I exam pass rate: 42%

CFA Level II Exam Pass Rate

  • June 2019 CFA Level II exam pass rate: 44%

CFA Level III Exam Pass Rate

  • June 2019 Level III exam pass rate: 56%

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.*

Learn More
† https://www.cfainstitute.org/-/media/documents/support/programs/cfa/june-2018-cfa-program-candidate-survey.ashx

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