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 12 months, in June and December. The 2025 CFA examination dates have been introduced, and candidates who’re planning to take the examination ought to begin getting ready now.
The Degree I CFA examination will probably be provided on June 6, 2025, and December 6, 2025. The Degree II CFA examination will probably be provided on June 13, 2025, and December 13, 2025. The Degree III CFA examination will probably be provided 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 could have a deep understanding of the funding trade and will probably be well-prepared for a profitable profession in finance. In case you are focused on a profession in finance, the CFA examination is an effective way to get began. The examination will check your data and abilities, and it’ll aid you to develop the abilities that it is advisable succeed within the discipline.
Degree I Examination Dates
The CFA Institute provides the Degree I examination thrice a 12 months: in February, Could, and August. In 2025, the Degree I examination will probably 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 subjects, together with monetary reporting and evaluation, company finance, economics, quantitative strategies, and portfolio administration. Candidates who go the Degree II examination will probably be awarded the Chartered Monetary Analyst (CFA) designation.
Candidates who’re planning to take the Degree II examination in 2025 ought to begin getting ready early. The CFA Institute recommends that candidates spend at the least 300 hours getting ready for the examination. Candidates also needs to 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 12 months, 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 will not be out there for the CFA Degree III examination.
The CFA Degree III examination is a 6-hour, 240-question examination that covers a variety of subjects, together with:
- Moral {and professional} requirements
- Economics
- Monetary reporting and evaluation
- Company finance
- Fairness investments
- Mounted revenue
- Derivatives
- Various investments
- Portfolio administration
- Wealth planning
Candidates who go the CFA Degree III examination will probably 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 will probably be August 8-26, 2025.
The early registration deadlines for every degree 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.
- Get monetary savings: The early registration price is considerably decrease than the usual registration price.
- Safe your seat: The CFA exams are widespread, and early registration will guarantee that you’ve a seat in your required testing heart.
- Get a head begin in your research: The additional time you need to put together provides you with a major benefit on examination day.
- Elevated possibilities of success: Research have proven that candidates who register early usually tend to go the CFA exams.
In case you are 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 |
Observe: Early registration reductions can be found for individuals who register early. The early registration deadline is often 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 extra charges. Nonetheless, it is important to notice that late registration will not be out there for all examination ranges and places.
The next desk outlines the late registration deadlines, charges, and availability for every CFA examination degree in 2025:
| Examination Degree | Late Registration Deadline | Extra Price | 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 |
Necessary Notes:
- Late registration charges are non-refundable.
- Late registration is topic to seat availability and will not be out there in any respect examination places.
- Candidates who fail to register by the late registration deadline won’t be eligible to take the examination.
Rating Launch Dates
The CFA Institute releases examination scores on particular dates all year long. The dates might fluctuate 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 usually launched 8-10 weeks after the examination date.
Degree III
The discharge date for Degree III examination scores is often 11-13 weeks after the examination date.
Necessary Concerns
- Rating launch dates are topic to alter with out discover.
- Candidates are inspired to verify their CFA Institute account frequently for probably the most up-to-date data.
- 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 |
Price Cost Data
The CFA examination registration price varies relying on the extent of the examination and whether or not you’re a CFA Institute member. The desk under outlines the price construction for the 2025 CFA exams:
| Examination Degree | CFA Institute Member Price | Non-Member Price |
|---|---|---|
| Degree I | $1,000 | $1,250 |
| Degree II | $1,150 | $1,350 |
| Degree III | $1,250 | $1,450 |
Cost Strategies
You possibly can pay your CFA examination registration price on-line utilizing a bank card (Visa, MasterCard, or American Specific) or by verify or cash order.
Early Registration Reductions
CFA Institute provides a reduction on examination registration charges for candidates who register early. The early registration deadline for the 2025 CFA exams is often round six months earlier than the examination date. The low cost quantity varies relying on the examination degree and whether or not you’re a CFA Institute member.
Refund Coverage
CFA Institute doesn’t provide refunds for examination registration charges. Nonetheless, you could possibly defer your examination registration to a later date when you have a legitimate motive, similar to a medical emergency.
Extra Charges
Along with the registration price, you might also have to pay extra charges for supplies similar to research supplies, apply exams, and examination preparation programs.
Cost Deadline
The fee deadline for the CFA examination registration price is often round one month earlier than the examination date. Late registration charges might apply for those who register after the fee deadline.
Examination Period and Format
The CFA examination is a rigorous, three-level examination that covers a variety of funding and finance subjects. Every degree has its personal period and format, designed to check candidates’ data and abilities in several areas.
### Degree 1 Period 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 Period 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 Period 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-Alternative Questions
The multiple-choice questions on the CFA examination are designed to check candidates’ data of a variety of funding and finance subjects. The questions are usually 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’ crucial considering and problem-solving abilities. The questions usually require candidates to research a situation and supply a well-reasoned response.
### Examination Schedule
The CFA examination is often provided twice a 12 months, 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 |
Necessary Modifications for 2025
1. Laptop-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. Lowered Examination Time for Degree III
The examination time for Degree III will probably be lowered from six hours to 5 hours in Could 2025. This modification is meant to attenuate 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 will probably be revised to higher 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 most recent developments within the monetary trade.
6. Elevated Emphasis on Portfolio Administration
The brand new curriculum will place a higher emphasis on portfolio administration abilities, 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 will probably 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. Price Modifications
The examination charges for 2025 have been revised as follows:
| Degree | Early Registration Price | Customary Registration Price |
|---|---|---|
| Degree I | $700 | $800 |
| Degree II | $1,000 | $1,100 |
| Degree III | $1,300 | $1,400 |
10. Candidate Assist
The CFA Institute will present extra help to candidates who’re transitioning to the computer-based examination format. This help will embrace webinars, apply exams, and technical help.
CFA Examination Dates 2025
The Chartered Monetary Analyst (CFA) examination is a rigorous certification program that exams the abilities and data of funding professionals. The examination is obtainable twice a 12 months, 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
Individuals Additionally Ask
When is the final day to register for the CFA examination?
The final day to register for the CFA examination is often 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 fluctuate 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
