CFA Exam Program Fees

• A one-time program enrollment fee of USD 450 is required to register for the Level I CFA Exam.
• An additional registration fee is required for each of the three levels of the exam. The fee is USD 700 for early registration and USD 1000 for standard registration.
• The total exam registration fees can range from $2,550 to $5,040.
• The average pass rate for CFA exam test-takers is around 44%.
• Save yourself money and stress by investing in quality preparation materials to offset rescheduling fees.

If you’re able to pass each exam the first time with no rescheduling fees, the minimum total cost is $2,550.

Carefully planning each step of your journey toward becoming a CFA charterholder is an essential way to ensure success. Be sure to go at a pace best for you, make high-quality study materials a priority during your exam prep, and factor in the potential for additional costs.Examples of additional costs include travel and accommodation costs if a CFA exam testing center is not offered near you or the purchase of an approved CFA calculator (which is required for CFA candidates on your exam date).

There are 3 CFA Exam Levels, and the CFA Institute requires a fee for each level. These come into play after new CFA Level I candidates pay a one-time enrollment fee when they register on the CFA Institute website.Registration fees for each exam level vary based on if you pay early or on time. There is also a CFA curriculum fee for each level or retake, but the cost of some study materials is part of the exam registration fee.

One-time enrollment fee

• The first time you register for the CFA Level 1 exam, you will have to enroll in the CFA Program and pay a one-time enrollment fee of $450 (USD).

Registration fee for each level or retake

• Each time you register to take one of the CFA exam levels, you will have to pay a registration fee. The fee varies based on when you register. Early registration is $700 (USD) per exam and standard registration is $1,000 (USD) per exam. This fee applies whether you are taking an exam level for the first time or retaking it after failing an earlier attempt.

Curriculum fee for each level or retakes

• When you pay your exam registration fee, you automatically get access to CFA Institute study materials including the CFAI Learning Ecosystem, mock exams, and a digital copy of the CFA curriculum. If you prefer to have a print copy of the curriculum, you must pay a curriculum fee of $250 (USD).
• Because the CFA exam is notoriously difficult with a low average pass rate (44% over the past decade), many candidates invest in UWorld CFA Study Materials to increase their chances of passing. UWorld video lectures help you understand the material with more ease, adaptive review helps you study efficiently by adjusting your study plan based on what you need the most help with, and predictive scoring gives you a reliable estimate of how you’ll do on the exam, so you know when you’re ready and feel confident in your preparation.

Learn more about the Level I CFA Program Exam pass rates in our helpful blog.

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Our team of instructors is made up of some of the top university professors and subject matter experts that have helped CFA candidates achieve a higher pass rate and are available to assist through each step of the process.

Whether it’s your first time taking the CFA program exam, or you’ve chosen to take another swing at earning your CFA designation, UWorld will help you accomplish your goals.

In addition to the USD 450 one-time fee paid to enroll in the CFA exams program, each exam level requires a $1,000 fee for standard registration or a $700 fee if you register early. Rescheduling an exam within the same exam window requires paying a $250 fee. Exam retakes require payment of the $1,000 standard exam fee or $700 early registration fee. CFA Institute exam study materials are provided as part of the exam registration fee.We also encourage you to think ahead as you plan when you’ll take the exams. Level I tests are now offered each quarter. Due to exam rescheduling during the pandemic, 2022 Level II exams will be offered in February, August, and November while Level III exams will be offered in May and August.

The 2023 Level II exams are currently scheduled for May, August, and November while Level III exams will be held in February and August.

Learn more about CFA exam dates.

CFA Level I Fees

For 2022, the one-time enrollment fee of USD 450 is collected by the CFA Institute the first time you register for the Level I exam. You are then responsible for the USD 700 early registration fee or USD 1000 standard registration fee.

The Level I exam has historically had the highest pass rate among CFA charterholders.

CFA Level II Fees

Level II fees are identical to the fees you pay in Level I, minus the enrollment fee.

CFA Level III Fees

Level III fees are identical to the fees you pay in Level I and Level II, minus the one-time enrollment fee.

Working towards the Chartered Financial Analyst designation is a big time and money commitment. But the majority of those who have reached this level of expertise say that it helps you understand other sectors of finance better and gives a big boost to your overall credibility. The respect a CFA charterholder receives is priceless, so partnering with a trusted resource like UWorld is your best bet as you step into the next stage of your career.With pass rates at an all-time low, there’s never been a better time to study with UWorld to earn your credential. We offer an SIIA CODiE award-winning best-in-class platform geared toward your learning style.

And our courses are taught by world-renowned expert instructors with a proven track record of teaching candidates how to walk into exam day with confidence and pass. Two out of three candidates who’ve used a competitor’s product prefer our CFA Program exam review. Jump in now and enjoy free access for two weeks with no credit card required.