Feb 2023 Level 3 CFA® Exam Dates & Fees

There is no fixed Feb 2023 level 3 exam date. You can choose to take your CFA exam on one of the days from 21 to 23 February. To take your exam on your chosen date, you need to self-schedule your exam.

* Importantly, the 21-23 Feb 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 3 exam.

Below, you can find all Feb 2023 level 3 exam dates related to registration and scheduling.

1. CFA EXAM WINDOW: 21 - 23 Feb 2023

As already said, the exact length of the Feb window depends on the test center you choose and the geographic region you live in. Actually, it may be shorter than 21 - 23 February, so read your test center info carefully when registering for and scheduling your CFA exam.

2. REGISTRATION STARTS: 10 May 2022

The registration window for the Feb 2023 level 3 exam opens on 10 May 2022. First, you need to register for your Feb exam, which means you need to pay due fees.

IMPORTANT: Feb 2023 CFA exam registration fees go up. The early-bird registration fee is USD 900 (up from USD 700) and the standard registration fee is USD 1200 (up from USD 1000).

The Feb 2023 CFA exam fees paid at registration are: USD 900 or USD 1200, depending on when you register.

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 November.

3. EARLY REGISTRATION DEADLINE: 9 Aug 2022

There's a special registration fee for early birds and it's $900 (it increases for 2023 CFA exams). It applies from 10 May to 9 August.

Please note that for computer-based CFA exams the early registration deadline used to be the Pay-by-Invoice deadline. However, for the Feb 23 exam, the Pay-by-Invoice deadline is 17 September.

4. REGISTRATION CLOSES: 8 Nov 2022

The standard registration fee is $1200 (which is higher than in 2022 or 2021). It applies from 10 August to 8 November. 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.

5. SCHEDULING DEADLINE: 16 Nov 2022

After you register, you're bound to self-schedule your exam within the exam window available for the Feb 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 Feb exam, it ends on 16 November. 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.

6. RESCHEDULING DEADLINE: 20 Jan 2023

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 Feb 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.

For 2023 CFA exams, the optional CFA exam rescheduling fee is USD 250 per each re-appointment.

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.

7. RESULTS: April 2023

CFA Institute has up to 90 days for releasing level 3 CFA exam results. Usually, level 3 candidates got their results 8-9 weeks post-exam. The same can be expected for the 2023 exams. The most probable date is 18 or 20 April 2023. As always, the Minimum Passing Score (MPS) will be established after the exam by the Board of Governors (read more).

If you pass your level 3 exam in Feb 2023, your CFA exams are over! That's it for you – now you can become a CFA charterholder and member.

If, however, you fail your level 3 CFA exam, mind the rule of 6-months-between-exams according to which:

• if you fail your Feb 2023 level 3 exam the soonest you can retake your level 3 exam is in Aug 2023.
• (read more about 2023 CFA exams)

To pass your level 3 CFA exam, there are some things you need to know. For starters, the exam will be divided into 2 sessions, 132 minutes each, with an optional break meanwhile.

In your level 3 CFA exam, you may expect some item sets and some constructed response (essay) questions. Previously, essay questions used to be included in the first session of the level 3 CFA exam, while item sets comprised the second session of the exam. Starting in 2023, each exam session will contain a mix of essay sets and item sets. There will be 11 essay sets and 11 item sets altogether. So, in each session, you can expect either 6 item sets and 5 essay sets or 5 item sets and 6 essay sets. Read more about the new CBT level 3 CFA exam format.

Published: Apr 30, 2021