Last updated: January 17, 2022

CFA exam / Level 1 / MAY 2022

May 2022 Level 1 CFA Exam

CFA exam date for May 2022 level 1 candidates is between 17 and 23 May* – that's the exam window. The May 2022 CFA exam registration starts on 20 July. Learn about all CFA exam dates, from registration to results, before your May 2022 CFA exam.





YOUR MAY 2022 LEVEL 1 CFA EXAM DATE

There is no fixed May 2022 level 1 exam date. You can choose to take your CFA exam on one of the days from 17 to 23 May. To take your exam on your chosen date, you need to self-schedule your exam.


* Importantly, the 17-23 May exam window may vary depending on your test center or geographic area. What it means is that for your chosen test center, there may be fewer exam dates available, i.e. the exam window may be shorter. That is why it is significant that you check the test center info when registering for and scheduling your level 1 exam.

Below, you can find all May 2022 level 1 exam dates related to registration and scheduling.


LEVEL 3 MAY 2022? HERE


MAY 2022 LEVEL 1 CFA EXAM DATES

REGISTRATION TO RESULTS


CFA EXAM WINDOW: 17-23 May 2022

period of time when you can take your exam

START: 20 July 2021

registration & scheduling window for the MAY 2022 exam opens

EARLY REGISTRATION DEADLINE: 1 Nov 2021

early bird fee is USD 700, standard fee is USD 1000

REGISTRATION DEADLINE: 8 Feb 2022 (changed from 1 Feb)

registration closes but you can still schedule your exam

SCHEDULING DEADLINE: 16 Feb 2022

no scheduling but rescheduling option is still available

RESCHEDULING DEADLINE: 16 Apr 2022

there's a rescheduling fee for each re-appointment

RESULTS: early July 2022

MAY 2022 CFA exam results should be released 6-7 weeks post-exam


NOTE: All the deadlines end at 11:59 p.m.


MAY 2022 LEVEL 1 CFA EXAM
DATES EXPLAINED

  1. CFA EXAM WINDOW: 17-23 May 2022
  2. Your May 2022 level 1 CFA exam date will be somewhere between 17 to 23 May. As already said, the exact length of the exam window depends on the test center you choose and the geographic region you live in. Actually, it may be shorter than 17-23 May, so read your test center info carefully when registering for and scheduling your CFA exam.

  3. REGISTRATION STARTS: 20 July 2021
  4. First, you need to register for your May exam, which means you need to pay due fees.

    The May 2022 exam fees paid at registration are: USD 700 or USD 1000, depending on when you register. Also, if you're a newcomer to CFA Program, you'll need to pay a one-time enrollment fee of USD 450.

    After you register, you're bound to self-schedule your exam within the exam window available in your area. The scheduling deadline is not until 16 February 2022.

  5. EARLY REGISTRATION DEADLINE: 1 Nov 2021
  6. There's a special registration fee for early birds and it's $700. It applies from 20 July to 1 November.

    Please note that for computer-based exams, the early registration deadline is also the Pay-by-Invoice deadline.

  7. REGISTRATION CLOSES: 8 Feb 2022
  8. The standard registration fee is $1000. It applies from 2 November to 8 February. In the past, there was also the so-called late or final registration fee, which was even higher but it's been dropped for computer-based exams.

  9. SCHEDULING DEADLINE: 16 Feb 2022
  10. After you register, you're bound to self-schedule your exam within the exam window available for the May level 1 exam in your area. To this end, you'll need to use the so-called ProScheduler via a dedicated platform.

    Importantly, scheduling is free of charge and the scheduling period is longer than the registration period. For the May 2022 level 1 exam, it ends on 16 Feb 2022. If you fail to schedule your exam appointment, you won’t be able to take your CFA exam and you'll forfeit your registration fees.

  11. RESCHEDULING DEADLINE: 16 Apr 2022
  12. A new CFA exam fee, called rescheduling fee, has been introduced for computer-based exams. It means that you can still change your CFA exam date and/or test center after you register for and schedule your May exam. You may change the date and/or test center as many times as you want but every change is going to cost you money.

    In 2021, the optional CFA exam rescheduling fee was down to USD 25 per re-appointment. However, it is back to the originally intended USD 250 per re-appointment in 2022.

    In 2022, the CFA exam rescheduling fee is USD 250 per re-appointment, which has always been the intended amount. In 2021, the rescheduling fee was USD 25 for each re-appointment of the CFA exam. However, the fee was reduced substantially owing to the difficult pandemic situation which made people postpone and reschedule their exams oftentimes. Now, as things start to get more predictable, the fee's going up to the original amount.

    When does the rescheduling option come in handy?

    It may happen that the optimal-for-you exam date and/or test center is already taken at the time when you schedule your exam. But you will judge it reasonable to schedule your exam anyway. After that, you can go back and check your preferred test center for seating availability at your optimal exam date. As soon as it's available to you, you'll be able to make amendments upon paying your rescheduling fee.

  13. RESULTS: early July 2022
  14. CFA Institute has even 60 days for releasing level 1 CFA exam results. However, is says that for computer-based exams the results can be expected after approx. 6-7 weeks or even earlier. The most probable CFA exam results date for the May 2022 level 1 is 5 or 7 July 2022. As always, the Minimum Passing Score (MPS) will be established after the exam by the Board of Governors (read more).


AFTER YOU PASS YOUR
MAY EXAM

After you take your CFA exam, mind the rule of 6-months-between-exams according to which:

  • if you pass your May 2022 exam the closest level 2 exam you can take is in Feb 2023, and
  • if you fail your May 2022 exam the soonest you can retake your level 1 exam is in Nov 2022 and then – if you pass – you can take your level 2 exam in Aug 2023.
  • (read more about 2022 & 2023 CFA exams)

To pass your level 1 exam, there are some things you need to know. For starters, the exam will be divided into 2 sessions, 135 minutes each, with an optional break meanwhile. You can expect 90 multiple-choice questions in each session.

The topics you'll be tested on will be divided into 4 groups: (i) Ethics, (ii) Investment Tools, (iii) Corporate Finance and Portfolio Management, and (iv) Investment Assets. You'll find groups (i) and (ii) during SESSION 1 and groups (iii) and (iv) during SESSION 2. Questions may be shuffled within a group. Once you finish the first session you won’t be able to go back. But you can go back and forth within one session. To learn more about computer-based CFA exams, see here

Here's what you may expect in May question-wise:


TOPIC WEIGHTS vs NO. OF QUESTIONS
IN 2022

CFA Exam Topics Level 1 Weights No. of Questions
(Estimations)
Ethics 15-20% 28
Quantitative Methods 8-12% 18
Economics 8-12% 18
Financial Reporting and Analysis* 13-17% 26
Corporate Finance* 8-12% 16
Equity Investments 10-12% 20
Fixed Income 10-12% 20
Derivative Investments 5-8% 10
Alternative Investments 5-8% 10
Portfolio Management 5-8% 14
TOTAL 100% 180 questions

* IMPORTANT! In your 2022 CFA exam curriculum, you will find new names for 2 topics. Financial Reporting and Analysis, FRA for short, changes its name to Financial Statement Analysis and Corporate Finance to Corporate Issuers. Because the change is quite recent, we use the well-known old names here.


Find VIDEOS & NOTES inside
our CFA Exam Study Planner:

Published: June 24, 2021



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