Higher CFA® Exam Cost: 2023 Standard Fee Is $1200

CFA exam / Registration / Fees



2023 CFA Exam Fees

IMPORTANT!

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 are USD 200 lower (early-birds fee is USD 700 and standard fee is USD 1000). However, the enrollment fee is higher by USD 100 – it's USD 450.


  1. All CFA exam fees
  2. Level 1 CFA exam fees
  3. Level 2 CFA exam fees
  4. Level 3 CFA exam fees
  5. 2023 CFA exam fees
  6. Minimum CFA exam cost
  7. Other CFA exam costs



All CFA Exam Fees for Level 1, 2, 3

There are 3 kinds of CFA exam fees, namely:

  • enrollment fee (USD 450 in 2022 | USD 350 in 2023),
  • registration fee (USD 700 or USD 1000 in 2022 | USD 900 or USD 1200 in 2023), 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, the minimum CFA exam cost is USD 2550 and it includes only the payment for your participation in the CFA Program, i.e. your ability to take the 3 levels of CFA exam. In 2023 – with the new registration fees – the minimum CFA exam cost is going to increase to USD 3050.

In this blog post, we explain in detail all the fees and the overall CFA exam cost, including the CFA exam course fee which is not fixed but is up to you 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 .


$450 (or 350) of CFA Program
Enrollment Fee

Enrollment fee is a one-time fee of USD 450 (or USD 350 as of 2023 exams) 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 will increase in 2023. There are 2 types of CFA exam registration fees:

  • early fee of $700 in 2022 (up to 900 in 2023), and
  • standard fee of $1000 in 2022 (up to 1200 in 2023).

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

This is a new fee introduced for computer-based CFA exams (CBT) (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 change of your appointment will cost you USD 250 (mind that it changed for 2022 CFA exams! while the CFA exam rescheduling fee was down to USD 25 per re-appointment in 2021 due to the new pandemic situation, now it's up again to 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:

  1. register + pay the applicable fees
  2. schedule your exam (no payment)
  3. reschedule, if you wish, after making an additional payment ($250 each re-appointment)


2022 Level 1 CFA Exam Fees and Deadlines

In 2022, 4 level 1 exam windows are available to CFA candidates. Currently, only the November 2022 CFA exam registration window is available. 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 2022 Level 1 Fees WHEN?
$450 enrollment fee at registration if applicable
$700 early registration fee until 10 Aug 2021*
$1000 standard registration fee until 26 Oct 2021
$250 rescheduling fee until 15 Jan 2022

Feb 2022 Level 1 scheduling window: 13 May – 17 Nov 2021 | L1 EXAM: 15-21 February 2022

* Pay by Invoice deadline: 10 Aug 2021


May 2022 Level 1 Fees WHEN?
$450 enrollment fee at registration if applicable
$700 early registration fee until 1 Nov 2021*
$1000 standard registration fee until 8 Feb 2022
$250 rescheduling fee until 16 Apr 2022

May 2022 Level 1 scheduling window: 20 July 2021 – 16 Feb 2022 | L1 EXAM: 17-23 May 2022

* Pay by Invoice deadline: 1 Nov 2021


Aug 2022 Level 1 Fees WHEN?
$450 enrollment fee at registration if applicable
$700 early registration fee until 9 Feb 2022*
$1000 standard registration fee until 3 May 2022
$250 rescheduling fee until 23 July 2022

Aug 2022 Level 1 scheduling window: 26 Oct 2021 – 25 May 2022 | L1 EXAM: 23-29 Aug 2022

* Pay by Invoice deadline: 9 Feb 2022


Nov 2022 Level 1 Fees WHEN?
$450 enrollment fee at registration if applicable
$700 early registration fee until 3 May 2022*
$1000 standard registration fee until 9 Aug 2022
$25 rescheduling fee until 15 Oct 2022

Nov 2022 Level 1 scheduling window: 1 Feb – 17 Aug 2022 | L1 EXAM: 15-21 Nov 2021

* Pay by Invoice deadline: 3 May 2022




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 2022 CFA exam registration fees and deadlines are given below (mind the recent changes in the 2022 CFA exam schedule).


2022 Level 2 CFA Exam Fees and Deadlines


IMPORTANT! The deadlines end at 11:59 p.m. ET.


Feb 2022 Level 2 Fees WHEN?
$700 early registration fee until 10 Aug 2021*
$1000 standard registration fee until 26 Oct 2021
$250 rescheduling fee until 22 Jan 2022

Feb 2022 Level 2 scheduling window: 13 May – 17 Nov 2021 | L2 EXAM: 22-26 Feb 2022

* Pay by Invoice deadline: 10 Aug 2021


Aug 2022 Level 2 Fees WHEN?
$700 early registration fee until 9 Feb 2022*
$1000 standard registration fee until 3 May 2022
$250 rescheduling fee until 30 July 2022

Aug 2022 Level 2 scheduling window: 26 Oct 2021 – 25 May 2022 | L2 EXAM: 30 Aug – 3 Sept 2022

* Pay by Invoice deadline: 9 Feb 2022



NOTE: In 2022, there will be one more exam window open for level 2 CFA candidates, namely the newly added Nov exam window.


Nov 2022 Level 2 Fees WHEN?
$700 early registration fee until 3 May 2022*
$1000 standard registration fee until 9 Aug 2022
$250 rescheduling fee until 22 Oct 2022

Feb 2022 Level 2 scheduling window: 1 Feb – 17 Aug 2022 | L2 EXAM: 22-26 Nov 2022

* Pay by Invoice deadline: 3 May 2022


2022 Level 3 CFA Exam Fees and Deadlines


IMPORTANT! The deadlines end at 11:59 p.m. ET.


May 2022 Level 3 Fees WHEN?
$700 early registration fee until 4 Nov 2021*
$1000 standard registration fee until 8 Feb 2022
$250 rescheduling fee until 23 Apr 2022

May 2022 Level 3 scheduling window: 20 July 2022 – 16 Feb 2022 | L3 EXAM: 24-26 May 2022

* Pay by Invoice deadline: 4 Nov 2021


Aug 2022 Level 3 Fees WHEN?
$700 early registration fee until 9 Feb 2022*
$1000 standard registration fee until 3 May 2022
$250 rescheduling fee until 30 July 2022

Aug 2022 Level 3 scheduling window: 1 Dec 2021 – 25 May 2022 | L3 EXAM: 30 Aug-6 Sept 2022

* Pay by Invoice deadline: 9 Feb 2022




2023 CFA Exam Fees and Deadlines

In 2023, level 1 CFA exam will also be available in 4 windows. The FEB 2023 exam registration is already open to level 1 & level 3 candidates.


IMPORTANT! The deadlines end at 11:59 p.m. ET.


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



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



TYPES OF CFA EXAM FEES: SUMMARY

  • enrollment fee:
    obligatory first level 1 exam only USD 450 (USD 350 as of 2023) one-time payment
  • registration fee:
    obligatory all 3 levels each exam you take or retake USD 700 or USD 1000 depending on when you register (USD 900 or USD 1200 as of 2023)
  • 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 USD 299 plus shipping fee 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 2550, which includes a one-time enrollment fee of USD 450 and a discounted early registration fee for the 3 levels of the CFA exam. However, the minimum total cost is going to increase to USD 3050 as of 2023.


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 2550 (up to 3050 as of 2023) 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!

CREATE YOUR STUDY PLAN NOW

& personalize it to suit your needs!




Updated: May 11, 2022



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