The CFA examination is a rigorous and difficult three-level examination that’s well known because the gold normal for funding professionals. The examination is obtainable twice a yr, in June and December. The 2025 CFA examination dates have been introduced, and candidates who’re planning to take the examination ought to begin making ready now.
The Degree I CFA examination might be supplied on June 6, 2025, and December 6, 2025. The Degree II CFA examination might be supplied on June 13, 2025, and December 13, 2025. The Degree III CFA examination might be supplied on June 20, 2025, and December 20, 2025. Candidates who’re planning to take the examination ought to register early to safe their spot. The registration deadline for the June 2025 exams is March 8, 2025, and the registration deadline for the December 2025 exams is September 6, 2025.
The CFA examination is a difficult examination, however it’s also a rewarding one. Candidates who go the examination can have a deep understanding of the funding trade and might be well-prepared for a profitable profession in finance. If you’re thinking about a profession in finance, the CFA examination is an effective way to get began. The examination will take a look at your data and expertise, and it’ll aid you to develop the abilities that that you must succeed within the area.
Degree I Examination Dates
The CFA Institute affords the Degree I examination 3 times a yr: in February, Could, and August. In 2025, the Degree I examination might be held on the next dates:
| Month | Examination Date | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| February | February 21, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Could | Could 16, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| August | August 15, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Examination Date | Registration Deadline | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| February 21, 2025 | December 16, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Could 16, 2025 | March 17, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| August 15, 2025 | June 16, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Examination Date | Registration Deadline |
|---|---|
| Could 16-17, 2025 | February 15, 2025 |
| November 7-8, 2025 | August 15, 2025 |
The Degree II examination is a 6-hour examination that covers a variety of matters, together with monetary reporting and evaluation, company finance, economics, quantitative strategies, and portfolio administration. Candidates who go the Degree II examination might be awarded the Chartered Monetary Analyst (CFA) designation.
Candidates who’re planning to take the Degree II examination in 2025 ought to begin making ready early. The CFA Institute recommends that candidates spend at the very least 300 hours making ready for the examination. Candidates must also familiarize themselves with the examination format and content material by reviewing the CFA Institute’s web site.
Degree III Examination Dates
The CFA Degree III examination is obtainable twice a yr, in Could and November. In 2025, the Degree III examination dates are as follows:
| Examination Date | Registration Deadline |
| Could 17-18, 2025 | March 3, 2025 |
| November 8-9, 2025 | September 8, 2025 |
Candidates should register for the CFA Degree III examination by the registration deadline as a way to be eligible to take the examination. Late registration is just not obtainable for the CFA Degree III examination.
The CFA Degree III examination is a 6-hour, 240-question examination that covers a variety of matters, together with:
- Moral {and professional} requirements
- Economics
- Monetary reporting and evaluation
- Company finance
- Fairness investments
- Fastened earnings
- Derivatives
- Various investments
- Portfolio administration
- Wealth planning
Candidates who go the CFA Degree III examination might be awarded the Chartered Monetary Analyst (CFA) designation.
Early Registration Deadlines
2025 Examination Dates and Deadlines
The CFA Institute has introduced the examination dates and early registration deadlines for the CFA exams in 2025. The examination window for all ranges might be August 8-26, 2025.
The early registration deadlines for every stage are as follows:
| Degree | Deadline |
|---|---|
| Degree I | March 15, 2025 |
| Degree II | April 12, 2025 |
| Degree III | Could 10, 2025 |
Advantages of Early Registration
There are a number of advantages to registering early for the CFA exams.
- Lower your expenses: The early registration charge is considerably decrease than the usual registration charge.
- Safe your seat: The CFA exams are common, and early registration will guarantee that you’ve a seat in your required testing middle.
- Get a head begin in your research: The additional time you need to put together offers you a big benefit on examination day.
- Elevated probabilities of success: Research have proven that candidates who register early usually tend to go the CFA exams.
If you’re planning to take the CFA exams in 2025, it’s extremely beneficial that you simply register early to benefit from these advantages.
Common Registration Deadlines
The next desk outlines the common registration deadlines for the CFA exams in 2025:
| Examination Degree | Examination Date | Registration Deadline |
|---|---|---|
| Degree I | Could 31, 2025 | March 8, 2025 |
| Degree II | June 21, 2025 | April 5, 2025 |
| Degree III | August 9, 2025 | June 7, 2025 |
Be aware: Early registration reductions can be found for many who register early. The early registration deadline is usually two months earlier than the common registration deadline.
Late Registration Deadlines
For candidates who miss the usual registration deadlines, late registration is offered topic to further charges. Nonetheless, it is important to notice that late registration might not be obtainable for all examination ranges and places.
The next desk outlines the late registration deadlines, charges, and availability for every CFA examination stage in 2025:
| Examination Degree | Late Registration Deadline | Extra Charge | Availability |
|---|---|---|---|
| Degree I | March 27, 2025 | USD 250 | Restricted availability |
| Degree II | Could 12, 2025 | USD 250 | Restricted availability |
| Degree III | August 11, 2025 | USD 250 | Restricted availability |
Vital Notes:
- Late registration charges are non-refundable.
- Late registration is topic to seat availability and might not be obtainable in any respect examination places.
- Candidates who fail to register by the late registration deadline is not going to be eligible to take the examination.
Rating Launch Dates
The CFA Institute releases examination scores on particular dates all year long. The dates could range barely relying on the extent of the examination and the geographical location of the candidate.
Degree I
Candidates taking the Degree I examination can count on to obtain their scores roughly 6-8 weeks after the examination date.
Degree II
Degree II examination scores are sometimes launched 8-10 weeks after the examination date.
Degree III
The discharge date for Degree III examination scores is usually 11-13 weeks after the examination date.
Vital Issues
- Rating launch dates are topic to alter with out discover.
- Candidates are inspired to examine their CFA Institute account often for essentially the most up-to-date info.
- If a candidate doesn’t obtain their rating on the anticipated launch date, they need to contact the CFA Institute.
Examination Dates 2025
| Examination Degree | Examination Dates | Rating Launch |
|---|---|---|
| Degree I | February 23-27, 2025 | April 24-28, 2025 |
| Degree I | August 8-11, 2025 | October 16-20, 2025 |
| Degree II | Could 5-7, 2025 | July 10-14, 2025 |
| Degree II | November 13-15, 2025 | January 15-19, 2026 |
| Degree III | Could 12-14, 2025 | August 7-11, 2025 |
| Degree III | November 19-21, 2025 | February 5-9, 2026 |
Charge Fee Data
The CFA examination registration charge varies relying on the extent of the examination and whether or not you’re a CFA Institute member. The desk under outlines the charge construction for the 2025 CFA exams:
| Examination Degree | CFA Institute Member Charge | Non-Member Charge |
|---|---|---|
| Degree I | $1,000 | $1,250 |
| Degree II | $1,150 | $1,350 |
| Degree III | $1,250 | $1,450 |
Fee Strategies
You possibly can pay your CFA examination registration charge on-line utilizing a bank card (Visa, MasterCard, or American Categorical) or by examine or cash order.
Early Registration Reductions
CFA Institute affords a reduction on examination registration charges for candidates who register early. The early registration deadline for the 2025 CFA exams is usually round six months earlier than the examination date. The low cost quantity varies relying on the examination stage and whether or not you’re a CFA Institute member.
Refund Coverage
CFA Institute doesn’t supply refunds for examination registration charges. Nonetheless, you could possibly defer your examination registration to a later date if in case you have a legitimate motive, similar to a medical emergency.
Extra Charges
Along with the registration charge, you might also have to pay further charges for supplies similar to examine supplies, observe exams, and examination preparation programs.
Fee Deadline
The fee deadline for the CFA examination registration charge is usually round one month earlier than the examination date. Late registration charges could apply if you happen to register after the fee deadline.
Examination Length and Format
The CFA examination is a rigorous, three-level examination that covers a variety of funding and finance matters. Every stage has its personal period and format, designed to check candidates’ data and expertise in numerous areas.
### Degree 1 Length and Format
Degree 1 of the CFA examination is a six-hour examination that consists of 240 multiple-choice questions. Candidates have 2 hours and 45 minutes to finish every of the 2 periods.
### Degree 2 Length and Format
Degree 2 of the CFA examination is a six-hour examination that consists of 120 multiple-choice questions and 6 essay questions. Candidates have 2 hours and 45 minutes to finish the multiple-choice part and three hours to finish the essay part.
### Degree 3 Length and Format
Degree 3 of the CFA examination is a six-hour examination that consists of 120 multiple-choice questions and 9 essay questions. Candidates have 2 hours and 45 minutes to finish the multiple-choice part and three hours to finish the essay part.
### A number of-Selection Questions
The multiple-choice questions on the CFA examination are designed to check candidates’ data of a variety of funding and finance matters. The questions are sometimes scenario-based and require candidates to use their data to real-world conditions.
### Essay Questions
The essay questions on the CFA examination are designed to check candidates’ important pondering and problem-solving expertise. The questions sometimes require candidates to investigate a situation and supply a well-reasoned response.
### Examination Schedule
The CFA examination is usually supplied twice a yr, in June and December.
| Degree | June | December |
|---|---|---|
| Degree 1 | First Saturday of June | First Saturday of December |
| Degree 2 | Final Saturday of June | Final Saturday of December |
| Degree 3 | First Saturday of Could | First Saturday of November |
Vital Adjustments for 2025
1. Pc-Primarily based Examination for Degree II
Starting in Could 2025, Degree II of the CFA examination will transition to a computer-based format. This may present candidates with higher flexibility and comfort.
2. Decreased Examination Time for Degree III
The examination time for Degree III might be diminished from six hours to 5 hours in Could 2025. This modification is meant to reduce candidate fatigue.
3. Delay of Degree II and III Exams
The Degree II and III exams scheduled for December 2024 have been delayed to Could 2025. This delay will permit candidates extra time to organize for the brand new computer-based format.
4. Revised Essay Questions for Degree II
The essay questions on Degree II might be revised to raised replicate the real-world work of economic analysts.
5. Up to date Curriculum for All Ranges
The CFA Institute will replace the curriculum for all three ranges of the examination in 2025. This replace will replicate the newest developments within the monetary trade.
6. Elevated Emphasis on Portfolio Administration
The brand new curriculum will place a higher emphasis on portfolio administration expertise, that are important for CFA charterholders.
7. New Examination Registration Platform
The CFA Institute will launch a brand new examination registration platform in 2025. This platform might be designed to enhance the candidate expertise.
8. Revised Calendar for Examination Dates
The examination dates for 2025 have been revised as follows:
| Degree | Date |
|---|---|
| Degree I | Could 30-31, 2025 |
| Degree II | Could 20-21, 2025 |
| Degree III | Could 12-13, 2025 |
9. Charge Adjustments
The examination charges for 2025 have been revised as follows:
| Degree | Early Registration Charge | Customary Registration Charge |
|---|---|---|
| Degree I | $700 | $800 |
| Degree II | $1,000 | $1,100 |
| Degree III | $1,300 | $1,400 |
10. Candidate Help
The CFA Institute will present further help to candidates who’re transitioning to the computer-based examination format. This help will embrace webinars, observe exams, and technical help.
CFA Examination Dates 2025
The Chartered Monetary Analyst (CFA) examination is a rigorous certification program that checks the abilities and data of funding professionals. The examination is obtainable twice a yr, in June and December. In 2025, the CFA examination dates are as follows:
- Degree I: June 7-8, 2025
- Degree II: June 14-15, 2025
- Degree III: June 21-22, 2025
Folks Additionally Ask
When is the final day to register for the CFA examination?
The final day to register for the CFA examination is usually 4 to 6 weeks earlier than the examination date. For the 2025 exams, the final day to register is as follows:
- Degree I: Could 5, 2025
- Degree II: Could 19, 2025
- Degree III: June 2, 2025
What are the charges for the CFA examination?
The charges for the CFA examination range relying on the extent of the examination. For the 2025 exams, the charges are as follows:
- Degree I: $1,000
- Degree II: $1,450
- Degree III: $1,700
