Below we present the nearest 2022 & 2023 CFA exam dates, including the August 2022 (all levels), November 2022 (level 1 + level 2), and Feb 2023 (level 1 + level 3) sittings. Because the CFA exam calendar is full of important dates, we arranged our CFA exam schedule into categories:
2022/2023 CFA EXAM: DETAILED SCHEDULE
AUG 2022 EXAM WINDOW
LEVELS: 1, 2, 3
NOV 2022 EXAM WINDOW
LEVELS: 1, 2
FEB 2023 EXAM WINDOW
LEVELS: 1, 3
START: 26 Oct 2021 (L3:1 Dec) | 1 Feb 2022 | 10 May 2022
registration for AUG 2022 | NOV 2022 | FEB 2023 exam opens
some additional CFA exam dates
CFA EXAM DATE: L1: Aug,23-29 | L1: Nov,15-21 | L1: Feb,14-20
* level 1 exam dates, levels 2 & 3: see below.
RESULTS: Oct 2022 | Jan 2023 | Apr 2023
** CFA exam results should be released 6-7 weeks after level 1, 7-8 weeks after level 2 and even 9-10 weeks after level 3 exam
NOTE: All the deadlines end at 11:59 p.m. ET unless stated otherwise.
CFA EXAM DATES, LEVELS: 1, 2, 3
|Aug 2022||Nov 2022||Feb 2023|
|level 1 CFA exam date||23-29 Aug 2022||15-21 Nov 2022||14-20 Feb 2023|
|level 2 CFA exam date||30 Aug-3 Sept 2022||22-26 Nov 2022||n/a|
|level 3 CFA exam date||30 Aug-6 Sept 2022||n/a||21-23 Feb 2023|
- As of 2021, all levels of the CFA exam are moved to computer-based testing.
- 2022 LEVEL 1 CFA exam will be held 4 times > in Feb, May, Aug, and Nov.
- 2022 LEVEL 2 CFA exam will be held 3 times > in Feb, Aug, and Nov (new changes to the 2022 CFA exam schedule).
- 2022 LEVEL 3 CFA exam will be held 2 times > in May and Aug (new changes to the 2022 CFA exam schedule).
- 2023 LEVEL 1 CFA exam will be held 4 times > in Feb, May, Aug, and Nov.
- 2023 LEVEL 2 CFA exam will be held 3 times > in May, Aug, and Nov.
- 2023 LEVEL 3 CFA exam will be held 2 times > in Feb and Aug.
CFA Institute Scholarship Deadlines
14 February 2022
CFA exam Access Scholarship (1st window) | START: 10 Jan 2022
13 June 2022
CFA exam Access Scholarship (2nd window) | START: 9 May 2022
CFA exam Access Scholarship (3rd window) | START: fall 2022
For many years, if you wanted to apply for Access Scholarship, you had to plan well ahead 'cos the deadline expired in mid-September of the year before the exam you wished to take, e.g. 15 Sept 2020 was the deadline for all 2021 CFA exams.
However, it seems that CFA Institute wants to change that as of 2022 CFA exams. In 2022, there will be 3 application windows that will be quite short but they will be nearer to your CFA exam, which will make it easier for you to plan your CFA exam. If you are awarded the Access Scholarship, you'll get around 7 months to use it for one of the available CFA exams (mind, however, the timeframe and exact expiration date provided by CFA Institute in the scholarship award e-mail!).
The first Access Scholarship application window for 2022 CFA exams opens on 10 January 2022. The second application window starts on 9 May and it most likely also applies to the Feb 2023 exam. The last 2022 Access Scholarship application window will be available in the fall 2022, most possibly in September. Keep coming back for updates and set up your CFA Institute's account if you want to apply for your Access Scholarship.
There are also other CFA Institute scholarships such as Women's Scholarships or Student Scholarships. Currently, they are awarded on a “rolling” basis. So, there’s no one fixed deadline but many short application windows are available instead. If you're a student, check with your school whether you can apply. And if you're a woman, with the new rules in place it should be more easy for you to get your scholarship. If you want to apply for a dedicated scholarship, visit your CFA Institute account to check for details.
CFA Exam Registration Deadlines
9 Feb 2022 | 3 May 2022 | 9 Aug 2022
early registration for AUG 2022 | NOV 2022 | FEB 2023 exam
3 May 2022 | 9 Aug 2022| 8 Nov 2022
standard registration for AUG 2022 | NOV 2022 | FEB 2023 exam
The early registration fee for 2022 CFA exams is USD 700 but it increases to USD 900 as of 2023 CFA exams. The standard registration fee is USD 1000 and USD 1200 in 2022 and 2023, respectfully.
Note that newcomers to the CFA Program have to pay a one-time program enrolment fee of USD 450 (for 2023 CFA exams the fee is down to USD 350!). The amount is the same regardless of the CFA exam registration deadline you choose.
Scheduling & Rescheduling Deadlines
25 May 2022 | 17 Aug 2022 | 16 Nov 2022
scheduling deadline for AUG 2022 | NOV 2022 | FEB 2023 exam (no additional fee)
23 July 2022 (LVL 1) / 30 July 2022 (LVL 2&3) | 15 Oct 2022 (LVL 1) / 22 Oct 2022 (LVL 2) | 13 Jan 2023 (LVL 1) / 20 Jan 2023 (LVL 3)
re-scheduling deadline for AUG 2022 | NOV 2022 | FEB 2023 exam (fee: USD 250)
The registration for the CFA exam is a 2-step process: first you register for your exam and pay the registration fee, then you must schedule your exam day within your chosen exam window. Appointments are made on the first-come, first-served basis.
You may also re-schedule your CFA exam before the rescheduling deadline if you pay the rescheduling fee of USD 250 (for each reschedule!). The rescheduling option enables you to alter your exam day or test center location within your exam window. The change is possible based on seating availability. If there is no free spot at a given time – you should check regularly for seating availability. Mind, though, that for 2022 & 2023 exams every actual rescheduling costs USD 250. Moreover, be sure to get familiar with test center information (options may vary from center to center, e.g. the length of the exam window may differ).
CFA Institute study materials availability
CFA Program Curriculum (online) + Practice Questions + Mock Exams
You will get free access to the digital version of your CFA Program Curriculum upon registration for your exam. After registration, you may also purchase a printed version for around USD 299 + costs of shipping and customs. You may also choose to print the whole or parts by yourself.
Our printable notes for your CFA exam readings are a nice option if you want to have some printed study materials. They are in the form of e-books that you can print out and add your own notes and examples to it (we've left some dedicated space). You'll find them inside your personalized study plan .
Practice Questions and Mock Exams are available after logging into your CFA Institute account and they are free of charge for all registered candidates. Moreover, if you opt for the full version of your CFA exam study plan at Soleadea, you'll also find lots of practice questions and tests, including mocks, inside your study schedule
CFA exam date
Aug 23-29 | Nov 15-21| Feb 14-20
level 1 exam window for AUG 2022 | NOV 2022 | FEB 2023 candidates
Aug 30-Sept 3 | Nov 22-26
level 2 exam window for AUG 2022 | NOV 2022 candidates
Aug 30-Sept 6 | Feb 21-23
level 3 exam window for AUG 2022 | FEB 2023 candidates
As of 2021, for all CFA exams there's computer-based testing. Exams are composed of two sessions with an optional break in between. Each exam session lasts approx. 2 hours and 15 minutes.
For LEVEL 1 CFA exam, you can expect 90 multiple-choice questions per session. That makes it a total of 180 questions. You'll have 1.5 minutes per question on average.
For LEVEL 2 CFA exam, you can expect 44 multiple-choice questions per session. That makes it a total of 88 questions that are arranged into item sets (vignettes followed by 4 or 6 multiple-choice questions). You'll have ca. 3 minutes per question on average.
For LEVEL 3 CFA exam, you can expect both open-ended (constructed response) questions and item sets (like for level 2). There will be 8-11 constructed response questions in the first session and 44 multiple-choice questions arranged into item sets of 4's or 6's in the second session. For constructed response questions, time will be stated per question. For item sets, it's ca. 3 minutes per question on average.
2022/2023 CFA EXAM DAY SCHEDULE
|CFA Exam Duration||LEVEL 1||LEVEL 2||LEVEL 3|
|pledge, tutorial, and survey||30 minutes||30 minutes||30 minutes|
|SESSION 1||135 minutes||ca. 135 minutes||ca. 135 minutes|
|no. of questions||90 questions||44 questions formed into item sets||8-11 constructed response questions|
|BREAK (optional)||30 minutes||30 minutes||30 minutes|
|SESSION 2||135 minutes||ca. 135 minutes||ca. 135 minutes|
|no. of questions||90 questions||44 questions formed into item sets||44 questions formed into item sets|
|WHOLE TESTING TIME||4.5 hrs||ca. 4.5 hrs||ca. 4.5 hrs|
|WHOLE EXAM DAY||5.5 hrs||ca. 5.5 hrs||ca. 5.5 hrs|
CFA exam results availability
Oct 2022 | Jan 2023 | Apr 2023
results released for AUG 2022 | NOV 2022 | FEB 2023 exam
For computer-based exams – results should be available approx. 6 to 7 weeks post-exam for level 1, 7 to 8 weeks post-exam for level 2, and even 9 to 10 weeks post-exam for level 3. CFA Institute emphasizes that the same MPS procedure is still in place.
CFA exam pass rates vary across levels:
level 1 pass rate (Aug 2022): still waiting
level 2 pass rate (Aug 2022): still waiting
level 3 pass rate (Aug 2022): still waiting
level 1 pass rate (May 2022): 38%
level 3 pass rate (May 2022): 49%
level 1 pass rate (Feb 2022): 36%
level 2 pass rate (Feb 2022): 44%
level 1 pass rate (Nov 2021): 27% (why so low?)
level 2 pass rate (Nov 2021): 46%
level 3 pass rate (Nov 2021): 43%
level 1 pass rate (Aug 2021): 26%
level 2 pass rate (Aug 2021): 29%
level 3 pass rate (Aug 2021): 39%
level 1 pass rate (July 2021): 22%
level 1 pass rate (May 2021): 25%
level 2 pass rate (May 2021): 40%
level 3 pass rate (May 2021): 42%
level 1 pass rate (Feb 2021): 44%
level 1 pass rate (Dec 2020): 49%
level 2 pass rate (Dec 2020): 55%
level 3 pass rate (Dec 2020): 56%
all levels (June 2020): exams postponed due to COVID-19
level 1 pass rate (Dec 2019): 42%
level 1 pass rate (June 2019): 41%
level 2 pass rate (June 2019): 44%
level 3 pass rate (June 2019): 56%
level 1 pass rate (Dec 2018): 45%
level 1 pass rate (June 2018): 43%
level 2 pass rate (June 2018): 45%
level 3 pass rate (June 2018): 56%