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HomeExamsCFA Exam

CFA Exam

Chartered Financial Analyst

Conducted by CFA Institute (US-based); exam administered globally via Prometric and British Council test centres

Source: cfainstitute.org · Updated 3 Oct 2026

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Key facts

  • 2 hr 12 min

    Duration

  • 3

    Sections

  • 180 MCQs

    Questions

  • USD 0 - 1,240

    Application fee

  • Not announced yet

    Nearest upcoming date

  • Application feeUSD 0 - 1,240
  • Nearest upcoming dateNot announced yet

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Courses this exam leads to

  • CFA Program -- a 3-level professional certification in investment management, financial analysis and related disciplines, leading to the 'CFA charterholder' designation on completion of all 3 levels plus required work experience

Eligibility criteria

  • Hold a valid international passport
  • Have a bachelor's degree or be in the final year of a bachelor's programme
  • OR have 4,000 hours of relevant work experience and/or higher education acquired over a minimum of 3 continuous years (a combination of both, totalling at least 4,000 hours over 36 months, also qualifies)
  • Must meet CFA Institute's Professional Conduct Admission Criteria
  • No age limit

Category-wise eligibility

Category-wise eligibility
CategoryEligibility / relaxation
GeneralCriteria listed above
Not announced separately in the details we hold. Check the official notification.
SCNot announced separately in the details we hold. Check the official notification.
STNot announced separately in the details we hold. Check the official notification.

The exam body has not published a separate criterion for each category in the details we hold. Please confirm on the official website.

Application fee

Application fee
Application typeFee
Verified live (2026 pricing)One-Time Enrollment Fee USD 0 (removed from 2025's USD 350)
Level 1 Early Bird Registration / Standard USD 1,490USD 1,140
Level 2 Early Bird / Standard USD 1,490USD 1,140
Level 3 Early Bird / Standard USD 1,590USD 1,240

Colleges accepting this exam

3 colleges accept CFA Exam.

Important dates
EventDate
Exam dateAugust Level 1 exam Aug 18-24, 2026 (held
  • CFA 2026 sessions: May Level 1 exam May 12-18, 2026 and Level 2 exam May 19-23, 2026 (both held)
  • August registration opened Nov 11, 2025 with early-bird deadline Jan 21, 2026 and final registration close May 6, 2026)
  • November Level 1 exam scheduled Nov 11-17, 2026 (early registration deadline Apr 15, 2026)
  • Results for Level I and Level II are released within about 60 days of the exam date
  • Level III results are released within about 90 days
Register / Apply now Opens the official application portal

How to register

  1. 1Register online directly on the CFA Institute website (cfainstitute.org)
  2. 2Create/access a CFA Institute account
  3. 3Complete registration and pay the applicable level fee
  4. 4Then separately schedule the exam by selecting a preferred test centre and date before the scheduling deadline. Each level's registration window opens roughly 6 months before the exam

Application fee

Application fee
Application typeFee
Verified live (2026 pricing)One-Time Enrollment Fee USD 0 (removed from 2025's USD 350)
Level 1 Early Bird Registration / Standard USD 1,490USD 1,140
Level 2 Early Bird / Standard USD 1,490USD 1,140
Level 3 Early Bird / Standard USD 1,590USD 1,240

CFA Exam college predictor

We cannot estimate admission chances from a CFA Exam result yet, because we do not hold enough data for it. Find Colleges can still match you to colleges using your marks, course and budget.

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CFA Exam previous year question papers

We are adding previous year papers for CFA Exam. Until then, the exam body's official site is the best source for authentic papers.

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  • All candidates must also complete at least one Practical Skills Module (PSM), mandatory for Level I and Level II candidates (and being phased in for Level III)
Syllabus
SubjectTopics
Level IBroad foundational concepts across Finance and Investment (recently restructured into smaller, more granular lessons)
Level IIDeeper analysis and application of the tools and concepts introduced in Level I
Level IIISynthesis and application of knowledge from Levels I and II, with specialised pathways introduced alongside a core curriculum starting in recent cycles
Exam pattern
ParameterDetails
Mode (CBT), online at designated global test centres
Duration135 minutes per session for Level I (2 sessions); approx. 2 hours 12 minutes per session for Level II (2 sessions); 4 hours 24 minutes total for Level III (2 sessions)
Total questionsLevel I: 180 across 2 sessions; Level II: 22 item-set (vignette-based) questions across 2 sessions, 11 per session, each set with multiple MCQs; Level III: item-set/vignette questions plus constructed-response (essay) questions across 2 sessions
Total marksScoring is via CFA Institute's own minimum passing score (MPS) methodology; total questions vary by level as described above rather than a fixed total-marks figure
No , per CFA Institute's standard /item-set scoring
Sections3 sequential levels -- Level I (foundational knowledge of Finance and Investment concepts), Level II (analysis and application of investment tools/concepts), Level III (synthesis and application, including specialised pathways alongside a core pathway)

CFA Exam mock tests

We are adding practice tests for CFA Exam. Meanwhile, look for an official practice portal on the exam's website.

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CFA Exam books

Recommended books for CFA Exam are being added. Ask Mimi or a counsellor for a suggested reading list.

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  • CFA Institute's own official curriculum (provided digitally to registered candidates) is the primary study material
  • Many candidates supplement it with third-party prep providers (e.g. Kaplan Schweser, Wiley) offering question banks, mock exams and study notes, alongside CFA Institute's own practice questions and mock exams available through the candidate portal

Download process

  • CFA Institute does not issue a traditional printed
  • Registered candidates are notified by email when their exam-day ticket/confirmation is available, downloaded by logging into their CFA Institute account portal
  • A valid, unexpired international passport is mandatory for entry alongside this confirmation, and it must show the CFA Institute ID number, last four characters of the passport number, candidate name, passport expiration date, and test centre name/date/location

Result date

  • Results for Level I and Level II are released within about 60 days of the exam date
  • Level III results are released within about 90 days

After the result

  • CFA Institute releases results online via the candidate's CFA Institute account portal, typically within 60 days (Level I/II) or 90 days (Level III) of the exam date
  • Candidates must also complete the mandatory Practical Skills Module to receive their full result-cum-scorecard
  1. 1Not applicable -- CFA has no centralised or seat-allotment process
  2. 2Candidates progress sequentially through Levels I, II and III by clearing each level's exam, and after clearing Level III, must also satisfy CFA Institute's work-experience and professional-conduct requirements to be awarded the CFA charter
  • No fixed public -- CFA Institute determines a Minimum Passing Score (MPS) for each exam administration using a standard-setting methodology (not released as a fixed percentage), and pass rates vary by level and administration

Campus-wise and branch-wise cut-off figures are being added. Check cfainstitute.org for the latest.

3 institutes accept CFA Exam.

Colleges accepting this exam
#Campus / InstituteLocationCollege page
1SeveralIndiaView college
2Such as new centres addedGurugramView college
3Nashik and Manipal from the November 2025 session) rather thanIndividual colleges; over 1.2 lakh CFA charterholders exist across 35 countriesView college

Quick answers

No , per CFA Institute's standard /item-set scoring

135 minutes per session for Level I (2 sessions); approx. 2 hours 12 minutes per session for Level II (2 sessions); 4 hours 24 minutes total for Level III (2 sessions)

Apply online at cfainstitute.org. The Application Form tab has the step-by-step process and the registration link.

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