CFA® Program exam information
Everything you need to know about the CFA exam, from what the differences are between levels, to what happens on exam day.
What is the CFA exam?
The CFA exam is a three-part exam – Level I, Level II, and Level III. Testing the knowledge and skills of financial analysts, each level of the curriculum builds on the prior level, becoming increasingly complex.
These three levels equip you with real-world skills in investment analysis and make up the CFA Program. Once completed, you can become a globally recognized Chartered Financial Analyst® (CFA®) – a prestigious distinction that differentiates you in the competitive finance industry.
Planning on taking the CFA exam?
Find out the latest CFA exam fees, early registration rates, upcoming exam dates and scheduling deadlines.
Already taken your CFA exam?
Access your CFA exam results, and check the latest pass rates and results timeline.
CFA Program exam schedule
Stay on top of your CFA Program journey with the official exam schedule. Use it to organize your study timeline and prepare with confidence.
Getting ready for your CFA exam
There are a number of steps on the journey to your CFA exam. Here are the key things to do alongside studying the CFA exam curriculum and completing your Practical Skills Module.
- How to register for the CFA exam
- How should you prepare for exam day?
- How can you practice for the CFA exam?
What happens on CFA exam day?
Understanding what you need to do on the day of your CFA exam will help you arrive relaxed and focused
When should you arrive for the CFA exam?
We recommend arriving 30 minutes before your scheduled exam appointment time (you might not be allowed in if you’re late). Plan your route to the test center in advance so you can avoid any delays. We also recommend familiarizing yourself with the hardware and software prior to the exam.
What should you bring to the CFA exam?
There are a number of items you should bring to your CFA exam. These include a valid international travel passport and an approved calculator. You are allowed to bring water, but it should be in a clear bottle with no labels, images or writing.
How long is the CFA exam?
- The CFA Level I exam lasts 4.5h, and consists of two content sessions that are 135 minutes each.
- The CFA Level II and Level III exams also take 4.5h, and the time allotted for the two content sessions is 132 minutes each.
At all CFA exam levels, time will also be allocated for a tutorial on the exam software, a break, and a survey at the end.
Other useful CFA exam resources
CFA Institute scholarships
Explore Scholarships to make the CFA charter more accessible.
CFA exam policies
Be sure you are aware of all policies that could impact you CFA exam experience.
Candidate resources
Discover more resources resources and guides to support you on your path to becoming a CFA Charterholder.
How to become a CFA® Charterholder
To earn the CFA Charter, you must pass all three CFA exams, complete 4,000 hours of relevant professional work experience over a minimum of three years, and become a CFA Institute member. Assess your experience and download the CFA Charter factsheet for detailed requirements and steps.