Higher CFA® Exam Cost: 2023 Standard Fee Is $1200
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IMPORTANT!
CFA Program registration for 2023 CFA exams is now open. The 2023 CFA exam registration fee is either USD 900 for early birds or USD 1200 of standard fee but there are also other CFA exam costs, including USD 350 of one-time enrollment fee. See below when to register.
Note that the 2022 CFA exam registration fees were USD 200 lower (early-birds fee: USD 700, standard fee: USD 1000). However, the enrollment fee for 2022 exams was higher by USD 100 (it was USD 450).
All CFA Exam Fees in 2023
Level 1, 2, 3
There are 3 kinds of CFA exam fees, namely:
- enrollment fee (USD 350),
- registration fee (USD 900 or USD 1200), and
- rescheduling fee (USD 250).
CFA exam fees are the same for all candidates worldwide, regardless of whether you come from the USA, the UK, India or any other country. Currently – i.e., if you start your CFA exam adventure in 2023 – the minimum CFA exam cost is USD 3050 and it has increased from USD 2550 (due to the new registration fees). This minimum cost of USD 3050 only includes the payment for your participation in the CFA Program, i.e., your ability to take the 3 levels of CFA exam. In other words, it does not allow for any other prep costs.
In this blog post, we explain in detail all the fees and the overall CFA exam cost, including the CFA exam course fee, whose amount you can choose if you use our portal for additional help in your CFA exam preparation. YEP, you can decide how much you pay for some extra study materials and tools because we use the Pay-What-You-Can policy .
$350 of CFA Program Enrollment Fee
Enrollment fee is a one-time fee of USD 350 (down from USD 450 in previous years) paid when you register for your FIRST level 1 CFA exam. This cost is obligatory for you to get enrolled in the list of CFA candidates and to enter the CFA Program (which is comprised of 3 levels). It implies your commitment to the CFA Program.
Up to $1200 of CFA Exam Registration Fee
CFA exam registration fees increase in 2023. There are 2 types of CFA exam registration fees:
- early fee of $900 (up by USD 200), and
- standard fee of $1200 (up by USD 200).
They are the same for all 3 levels of CFA exam. See below for the deadlines applicable to your exam.
$250 of CFA Exam Rescheduling Fee
The CFA exam rescheduling fee is a new fee introduced for CBT exams (all levels). Its purpose is to make the rescheduling of your CFA exam appointment possible even after the registration and scheduling periods for your exam have been closed.
Each rescheduling of your appointment will cost you USD 250. Costs aside, it’s good that CFA Institute provides such an option. Why? CBT exams will be held within a longer exam window (not on one single day as it was before). You’ll need to decide when exactly to take your exam and then self-schedule using the so-called ProScheduler available on a dedicated platform. The problem is your ideal date and test center may be already taken. That’s one example when the rescheduling option may come in handy. You may still try to change your exam date and/or test center if the one you initially chose is not the most convenient. Mind that the exam scheduling is done on the first come, first served basis so it may not be the best idea to delay your exam appointment reservation.
For your CFA exam, you need to:
- register + pay the applicable fees
- schedule your exam (no payment)
- reschedule, if you wish, after making an additional payment ($250 each re-appointment)
2023 Level 1 CFA Exam Fees and Deadlines
Registration for 2023 level 1 CFA exams is now open. In 2023, 4 level 1 exam windows are available to CFA candidates, in Feb, May, Aug, and Nov. Currently, the AUG & NOV 2023 CFA exam registration windows are open. The exact CFA exam registration fee depends on when you register for your exam:
IMPORTANT! The deadlines end at 11:59 p.m. ET.
FEB 2023 CFA registration window was closed on 8 Nov 2022.
| Feb 2023 Level 1 Fees | WHEN? |
|---|---|
| $350 enrollment fee | at registration if applicable |
| $900 early registration fee | until 9 Aug 2022 |
| $1200 standard registration fee | until 8 Nov 2022 |
| $250 rescheduling fee | until 13 Jan 2023 |
Feb 2023 Level 1 scheduling window: 10 May – 16 Nov 2022 | L1 EXAM: 14-20 February 2023
Pay by Invoice deadline: 17 Sept 2022
MAY 2023 CFA registration window was closed on 31 Jan 2023.
| May 2023 Level 1 Fees | WHEN? |
|---|---|
| $350 enrollment fee | at registration if applicable |
| $900 early registration fee | until 9 Nov 2022 |
| $1200 standard registration fee | until 31 Jan 2023 |
| $250 rescheduling fee | until 14 Apr 2023 |
May 2023 Level 1 scheduling window: 9 Aug 2022 – 15 Feb 2023 | L1 EXAM: 16-22 May 2023
Pay by Invoice deadline: 17 Dec 2022
AUG 2023 CFA registration window was open on 14 Nov 2022.
| Aug 2023 Level 1 Fees | WHEN? |
|---|---|
| $350 enrollment fee | at registration if applicable |
| $900 early registration fee | until 1 Feb 2023 |
| $1200 standard registration fee | until 9 May 2023 |
| $250 rescheduling fee | until 21 July 2023 |
Aug 2023 Level 1 scheduling window: 14 Nov 2022 – 24 May 2023 | L1 EXAM: 22-28 Aug 2023
Pay by Invoice deadline: 25 March 2023
NOV 2023 CFA registration window was open on 31 Jan 2023.
| Nov 2023 Level 1 Fees | WHEN? |
|---|---|
| $350 enrollment fee | at registration if applicable |
| $900 early registration fee | until 10 May 2023 |
| $1200 standard registration fee | until 8 Aug 2023 |
| $250 rescheduling fee | until 13 Oct 2023 |
Nov 2023 Level 1 scheduling window: 31 Jan – 16 Aug 2023 | L1 EXAM: 11-17 Nov 2023
Pay by Invoice deadline: 24 June 2023
Level 2 and Level 3 CFA Exam Fees
For level 2 and level 3 CFA exams, there’s no enrollment fee. However, you need to pay your registration fee, which always depends on when you register. The currently available 2023 CFA exam registration fees and deadlines are given below.
2023 Level 2 CFA Exam Fees and Deadlines
IMPORTANT! The deadlines end at 11:59 p.m. ET.
MAY 2023 CFA registration window was closed on 31 Jan 2023.
| May 2023 Level 2 Fees | WHEN? |
|---|---|
| $900 early registration fee | until 9 Nov 2022 |
| $1200 standard registration fee | until 31 Jan 2023 |
| $250 rescheduling fee | until 21 Apr 2023 |
May 2023 Level 2 scheduling window: 9 Aug 2022 – 15 Feb 2023 | L2 EXAM: 23-27 May 2023
Pay by Invoice deadline: 17 Dec 2022
AUG 2023 CFA registration window was open on 14 Nov 2022.
| Aug 2023 Level 2 Fees | WHEN? |
|---|---|
| $900 early registration fee | until 1 Feb 2023 |
| $1200 standard registration fee | until 9 May 2023 |
| $250 rescheduling fee | until 28 July 2023 |
Aug 2023 Level 2 scheduling window: 14 Nov 2022 – 24 May 2023 | L2 EXAM: 29 Aug – 2 Sept 2023
Pay by Invoice deadline: 25 March 2023
NOV 2023 CFA registration window was open on 31 Jan 2023.
| Nov 2023 Level 2 Fees | WHEN? |
|---|---|
| $900 early registration fee | until 10 May 2023 |
| $1200 standard registration fee | until 8 Aug 2023 |
| $250 rescheduling fee | until 20 Oct 2023 |
Nov 2023 Level 2 scheduling window: 31 Jan – 16 Aug 2023 | L2 EXAM: 18-22 Nov 2023
Pay by Invoice deadline: 24 June 2023
2023 Level 3 CFA Exam Fees and Deadlines
IMPORTANT! The deadlines end at 11:59 p.m. ET.
FEB 2023 CFA registration window was closed on 8 Nov 2022.
| Feb 2023 Level 3 Fees | WHEN? |
|---|---|
| $900 early registration fee | until 9 Aug 2022 |
| $1200 standard registration fee | until 8 Nov 2022 |
| $250 rescheduling fee | until 20 Jan 2023 |
Feb 2023 Level 3 scheduling window: 10 May – 16 Nov 2022 | L3 EXAM: 21-23 February 2023
Pay by Invoice deadline: 17 Sept 2022
AUG 2023 CFA registration window was open on 14 Nov 2022.
| Aug 2023 Level 3 Fees | WHEN? |
|---|---|
| $900 early registration fee | until 1 Feb 2023 |
| $1200 standard registration fee | until 9 May 2023 |
| $250 rescheduling fee | until 28 July 2023 |
Aug 2023 Level 3 scheduling window: 14 Nov 2022 – 24 May 2023 | L3 EXAM: 29 Aug-5 Sept 2023
Pay by Invoice deadline: 25 March 2023
TYPES OF CFA EXAM FEES: SUMMARY
- enrollment fee:
obligatory first level 1 exam only USD 350 one-time payment - registration fee:
obligatory all 3 levels each exam you take or retake USD 900 or USD 1200 depending on when you register - rescheduling fee:
optional all 3 levels each exam you take or retake USD 250 per exam re-appointment - cost of print version of the curriculum:
optional all 3 levels around USD 299 plus shipping fee per level post-registration
CFA Exam Cost: How Much Will I Pay for 3 Exam Levels?
The minimum total cost of the CFA Program is now USD 3050, which includes a one-time enrollment fee of USD 350 and a discounted early registration fee for the 3 levels of the CFA exam. It means that if you start your CFA exam adventure in 2023, you'll pay no less than USD 3050. This value is up as of 2023 from the previous USD 2550.
MINIMUM COST OF CFA EXAM (all 3 levels) as of 2023:
USD 350 of enrollment fee + 3 x USD 900 of early registration fee = USD 3050 (no rescheduling nor any additional costs included)
The minimum total CFA exam cost of USD 3050 leaves out any other costs, e.g. printed curriculum or additional study materials. Also, it allows no retakes nor rescheduling. While rescheduling is an option you can surely do without, it is likely you will need to retake an exam or two before you actually pass all 3 levels of your CFA exam.
Scholarships May Reduce Your CFA Exam Cost
The lowest CFA exam cost available to CFA candidates is when they are eligible for CFA Institute Access Scholarship which waives the enrollment fee and reduces the registration fee to USD 250. If the Access Scholarship is awarded to you for each level, then you may cut your total CFA exam cost down to 3x250 = USD 750! (assuming you always pass at the first attempt).
Also, CFA Institute Women’s Scholarships waive the enrollment fee and reduce the registration fee to USD 350. If you are awarded the scholarship for each level, your total CFA exam cost may be reduced to 3x350 = USD 1050
You can reduce your CFA exam cost: see if you're eligible for a scholarship
Any Other CFA Exam Costs?
CFA exam fees are the direct cost. But there are also some indirect costs which may include:
- time,
- cost of study materials,
- travel costs (exam day),
- accommodation costs (exam day),
- lost opportunities, ect.
Time is a valuable currency – there’s no denying. One of the time-related truths about the CFA exam is that: the later you start your CFA exam prep, the lower your chance to pass gets!
There’s no need to put it off. You want to be smart and responsible about your CFA exam prep. You can join us by creating a free CFA exam study plan where you'll be able to:
- manage your study time effectively,
- see your chance to pass grow as you progress,
- unlock all the study tools and review apps inside your study plan.
Our study planner may be used with any kind of study resources because we know that CFA Program candidates like to use different study aids when preparing for their exam. In the market, you’ll find a whole spectrum of study materials ranging in prices and quality. We go for easy solutions great for studying and revision /levels 1 & 2/: (1) bite-sized videos, (2) exam-type questions you can generate into tests varying in length and difficulty, (3) formulas you can view inside our special app, (4) abridged topic notes in the form of short printable e-books.
CFA Exam Course Fee at Soleadea
The course fee for using our CFA exam platform is groundbreaking!
You can have your CFA exam study plan + some extra study/review materials such as videos, practice questions, mocks or e-books that can help you better prepare for your CFA exam at a fee you choose! Our Pay-What-You-Can policy allows you to go for the monthly fee you can afford and you get access to everything we currently offer.
Once again: The sooner you start to prepare for your exam, the better results you can expect.
AND REMEMBER: Each time you fail an exam, you lose not only your time and the money you paid for the exam but also an opportunity for a promotion and thus better salary. Of course, each retake means new costs, including another exam fee plus another travel and accommodation costs on the exam day.
Smart Preparation Starts With Smart Planning
When your plans have this dangerous tendency to fall through - you need more than just timetabled topics!
You need concrete readings assigned to concrete study weeks,
weekly progress assessments,
and all the means to stay in charge!
& personalize it to suit your needs!
Updated: Feb 23, 2023
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