The CFA examination is a rigorous and difficult three-level examination that’s widely known because the gold customary for funding professionals. The examination is obtainable twice a yr, in June and December. The 2025 CFA examination dates have been introduced, and candidates who’re planning to take the examination ought to begin making ready now.
The Degree I CFA examination might be supplied on June 6, 2025, and December 6, 2025. The Degree II CFA examination might be supplied on June 13, 2025, and December 13, 2025. The Degree III CFA examination might be supplied on June 20, 2025, and December 20, 2025. Candidates who’re planning to take the examination ought to register early to safe their spot. The registration deadline for the June 2025 exams is March 8, 2025, and the registration deadline for the December 2025 exams is September 6, 2025.
The CFA examination is a difficult examination, however it’s also a rewarding one. Candidates who move the examination may have a deep understanding of the funding trade and might be well-prepared for a profitable profession in finance. If you’re keen on a profession in finance, the CFA examination is a good way to get began. The examination will take a look at your data and abilities, and it’ll aid you to develop the abilities that it’s essential to succeed within the subject.
Degree I Examination Dates
The CFA Institute provides the Degree I examination thrice a yr: in February, Might, and August. In 2025, the Degree I examination might be held on the next dates:
| Month | Examination Date | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| February | February 21, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Might | Might 16, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| August | August 15, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Examination Date | Registration Deadline | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| February 21, 2025 | December 16, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Might 16, 2025 | March 17, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| August 15, 2025 | June 16, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Examination Date | Registration Deadline |
|---|---|
| Might 16-17, 2025 | February 15, 2025 |
| November 7-8, 2025 | August 15, 2025 |
The Degree II examination is a 6-hour examination that covers a variety of matters, together with monetary reporting and evaluation, company finance, economics, quantitative strategies, and portfolio administration. Candidates who move the Degree II examination might be awarded the Chartered Monetary Analyst (CFA) designation.
Candidates who’re planning to take the Degree II examination in 2025 ought to begin making ready early. The CFA Institute recommends that candidates spend not less than 300 hours making ready for the examination. Candidates also needs to familiarize themselves with the examination format and content material by reviewing the CFA Institute’s web site.
Degree III Examination Dates
The CFA Degree III examination is obtainable twice a yr, in Might and November. In 2025, the Degree III examination dates are as follows:
| Examination Date | Registration Deadline |
| Might 17-18, 2025 | March 3, 2025 |
| November 8-9, 2025 | September 8, 2025 |
Candidates should register for the CFA Degree III examination by the registration deadline to be able to be eligible to take the examination. Late registration is just not out there for the CFA Degree III examination.
The CFA Degree III examination is a 6-hour, 240-question examination that covers a variety of matters, together with:
- Moral {and professional} requirements
- Economics
- Monetary reporting and evaluation
- Company finance
- Fairness investments
- Fastened earnings
- Derivatives
- Different investments
- Portfolio administration
- Wealth planning
Candidates who move the CFA Degree III examination might be awarded the Chartered Monetary Analyst (CFA) designation.
Early Registration Deadlines
2025 Examination Dates and Deadlines
The CFA Institute has introduced the examination dates and early registration deadlines for the CFA exams in 2025. The examination window for all ranges might be August 8-26, 2025.
The early registration deadlines for every degree are as follows:
| Degree | Deadline |
|---|---|
| Degree I | March 15, 2025 |
| Degree II | April 12, 2025 |
| Degree III | Might 10, 2025 |
Advantages of Early Registration
There are a number of advantages to registering early for the CFA exams.
- Lower your expenses: The early registration charge is considerably decrease than the usual registration charge.
- Safe your seat: The CFA exams are in style, and early registration will guarantee that you’ve got a seat in your required testing heart.
- Get a head begin in your research: The additional time you must put together offers you a big benefit on examination day.
- Elevated possibilities of success: Research have proven that candidates who register early usually tend to move the CFA exams.
If you’re planning to take the CFA exams in 2025, it’s extremely advisable that you simply register early to make the most of these advantages.
Common Registration Deadlines
The next desk outlines the common registration deadlines for the CFA exams in 2025:
| Examination Degree | Examination Date | Registration Deadline |
|---|---|---|
| Degree I | Might 31, 2025 | March 8, 2025 |
| Degree II | June 21, 2025 | April 5, 2025 |
| Degree III | August 9, 2025 | June 7, 2025 |
Notice: Early registration reductions can be found for individuals who register early. The early registration deadline is often two months earlier than the common registration deadline.
Late Registration Deadlines
For candidates who miss the usual registration deadlines, late registration is accessible topic to further charges. Nevertheless, it is important to notice that late registration might not be out there for all examination ranges and areas.
The next desk outlines the late registration deadlines, charges, and availability for every CFA examination degree in 2025:
| Examination Degree | Late Registration Deadline | Further Payment | Availability |
|---|---|---|---|
| Degree I | March 27, 2025 | USD 250 | Restricted availability |
| Degree II | Might 12, 2025 | USD 250 | Restricted availability |
| Degree III | August 11, 2025 | USD 250 | Restricted availability |
Essential Notes:
- Late registration charges are non-refundable.
- Late registration is topic to seat availability and might not be out there in any respect examination areas.
- Candidates who fail to register by the late registration deadline is not going to be eligible to take the examination.
Rating Launch Dates
The CFA Institute releases examination scores on particular dates all year long. The dates could fluctuate barely relying on the extent of the examination and the geographical location of the candidate.
Degree I
Candidates taking the Degree I examination can anticipate to obtain their scores roughly 6-8 weeks after the examination date.
Degree II
Degree II examination scores are usually launched 8-10 weeks after the examination date.
Degree III
The discharge date for Degree III examination scores is often 11-13 weeks after the examination date.
Essential Issues
- Rating launch dates are topic to alter with out discover.
- Candidates are inspired to verify their CFA Institute account commonly for probably the most up-to-date info.
- If a candidate doesn’t obtain their rating on the anticipated launch date, they need to contact the CFA Institute.
Examination Dates 2025
| Examination Degree | Examination Dates | Rating Launch |
|---|---|---|
| Degree I | February 23-27, 2025 | April 24-28, 2025 |
| Degree I | August 8-11, 2025 | October 16-20, 2025 |
| Degree II | Might 5-7, 2025 | July 10-14, 2025 |
| Degree II | November 13-15, 2025 | January 15-19, 2026 |
| Degree III | Might 12-14, 2025 | August 7-11, 2025 |
| Degree III | November 19-21, 2025 | February 5-9, 2026 |
Payment Fee Data
The CFA examination registration charge varies relying on the extent of the examination and whether or not you’re a CFA Institute member. The desk under outlines the charge construction for the 2025 CFA exams:
| Examination Degree | CFA Institute Member Payment | Non-Member Payment |
|---|---|---|
| Degree I | $1,000 | $1,250 |
| Degree II | $1,150 | $1,350 |
| Degree III | $1,250 | $1,450 |
Fee Strategies
You’ll be able to pay your CFA examination registration charge on-line utilizing a bank card (Visa, MasterCard, or American Specific) or by verify or cash order.
Early Registration Reductions
CFA Institute provides a reduction on examination registration charges for candidates who register early. The early registration deadline for the 2025 CFA exams is often round six months earlier than the examination date. The low cost quantity varies relying on the examination degree and whether or not you’re a CFA Institute member.
Refund Coverage
CFA Institute doesn’t provide refunds for examination registration charges. Nevertheless, you might be able to defer your examination registration to a later date if in case you have a legitimate cause, comparable to a medical emergency.
Further Charges
Along with the registration charge, you might also must pay further charges for supplies comparable to examine supplies, apply exams, and examination preparation programs.
Fee Deadline
The fee deadline for the CFA examination registration charge is often round one month earlier than the examination date. Late registration charges could apply if you happen to register after the fee deadline.
Examination Length and Format
The CFA examination is a rigorous, three-level examination that covers a variety of funding and finance matters. Every degree has its personal length and format, designed to check candidates’ data and abilities in several areas.
### Degree 1 Length and Format
Degree 1 of the CFA examination is a six-hour examination that consists of 240 multiple-choice questions. Candidates have 2 hours and 45 minutes to finish every of the 2 classes.
### Degree 2 Length and Format
Degree 2 of the CFA examination is a six-hour examination that consists of 120 multiple-choice questions and 6 essay questions. Candidates have 2 hours and 45 minutes to finish the multiple-choice part and three hours to finish the essay part.
### Degree 3 Length and Format
Degree 3 of the CFA examination is a six-hour examination that consists of 120 multiple-choice questions and 9 essay questions. Candidates have 2 hours and 45 minutes to finish the multiple-choice part and three hours to finish the essay part.
### A number of-Selection Questions
The multiple-choice questions on the CFA examination are designed to check candidates’ data of a variety of funding and finance matters. The questions are usually scenario-based and require candidates to use their data to real-world conditions.
### Essay Questions
The essay questions on the CFA examination are designed to check candidates’ important pondering and problem-solving abilities. The questions usually require candidates to research a situation and supply a well-reasoned response.
### Examination Schedule
The CFA examination is often supplied twice a yr, in June and December.
| Degree | June | December |
|---|---|---|
| Degree 1 | First Saturday of June | First Saturday of December |
| Degree 2 | Final Saturday of June | Final Saturday of December |
| Degree 3 | First Saturday of Might | First Saturday of November |
Essential Adjustments for 2025
1. Pc-Primarily based Examination for Degree II
Starting in Might 2025, Degree II of the CFA examination will transition to a computer-based format. This may present candidates with better flexibility and comfort.
2. Decreased Examination Time for Degree III
The examination time for Degree III might be decreased from six hours to 5 hours in Might 2025. This alteration is meant to reduce candidate fatigue.
3. Delay of Degree II and III Exams
The Degree II and III exams scheduled for December 2024 have been delayed to Might 2025. This delay will permit candidates extra time to organize for the brand new computer-based format.
4. Revised Essay Questions for Degree II
The essay questions on Degree II might be revised to raised replicate the real-world work of economic analysts.
5. Up to date Curriculum for All Ranges
The CFA Institute will replace the curriculum for all three ranges of the examination in 2025. This replace will replicate the most recent developments within the monetary trade.
6. Elevated Emphasis on Portfolio Administration
The brand new curriculum will place a better emphasis on portfolio administration abilities, that are important for CFA charterholders.
7. New Examination Registration Platform
The CFA Institute will launch a brand new examination registration platform in 2025. This platform might be designed to enhance the candidate expertise.
8. Revised Calendar for Examination Dates
The examination dates for 2025 have been revised as follows:
| Degree | Date |
|---|---|
| Degree I | Might 30-31, 2025 |
| Degree II | Might 20-21, 2025 |
| Degree III | Might 12-13, 2025 |
9. Payment Adjustments
The examination charges for 2025 have been revised as follows:
| Degree | Early Registration Payment | Normal Registration Payment |
|---|---|---|
| Degree I | $700 | $800 |
| Degree II | $1,000 | $1,100 |
| Degree III | $1,300 | $1,400 |
10. Candidate Assist
The CFA Institute will present further help to candidates who’re transitioning to the computer-based examination format. This help will embody webinars, apply exams, and technical help.
CFA Examination Dates 2025
The Chartered Monetary Analyst (CFA) examination is a rigorous certification program that assessments the abilities and data of funding professionals. The examination is obtainable twice a yr, in June and December. In 2025, the CFA examination dates are as follows:
- Degree I: June 7-8, 2025
- Degree II: June 14-15, 2025
- Degree III: June 21-22, 2025
Individuals Additionally Ask
When is the final day to register for the CFA examination?
The final day to register for the CFA examination is often 4 to 6 weeks earlier than the examination date. For the 2025 exams, the final day to register is as follows:
- Degree I: Might 5, 2025
- Degree II: Might 19, 2025
- Degree III: June 2, 2025
What are the charges for the CFA examination?
The charges for the CFA examination fluctuate relying on the extent of the examination. For the 2025 exams, the charges are as follows:
- Degree I: $1,000
- Degree II: $1,450
- Degree III: $1,700
