Important CFA Exam Dates 2021-2022 (Don’t Miss the 2022 CFA Registration Deadline!)

Until 2020, the CFA Exam dates and deadlines were nearly the same every year: the exam was scheduled every June for all levels and every December for Level I only. However, as of 2021, this has changed. As a result, here’s how the schedule looks now.

• February 2021: Level 1 only
• March 2021: deferred December/February Level 1 candidates only
• August 2021: Levels 1-3
• November 2021: Levels 1-3

Starting in 2022, the CFAI will offer Level 1 in each quarter and Levels 2 and 3 in alternating quarters.

• February (2022 and following): Level 1 and Level 2
• May (2022 and following): Level 1 and Level 3
• August (2022 and following): Level 1 and Level 2
• November (2022 and following): Level 1 and Level 3

The CFA exam opens its registration about nine months before the exam date. However, early registration, which includes a discounted exam fee, closes about six months before the actual exam.

November 2021 CFA Exam Dates

The CFAI will offer all three levels of the CFA Exam in November of 2021. However, beginning in 2022, only Levels 1 and 2 will take place in November.

Notes on CFA Registration Deadlines

1) August 20, 2020: Level 1 Opens for Registration

• Normally, Level 1 applicants may register as early as nine months before the exam. This August 2020-November 2021 window is an unusually long registration period.
• You can choose to take the sample exam upon registration. However, this is optional, and it will cost US$40 for two sets of exams.

2) January 2021 (estimated): Mock Exam Available

• Unlike the sample exam, a mock exam is available free of charge for each registrant.

3) February 2, 2021: Level 1 Scheduling, Level 2 Scheduling, and Registration

• This is the beginning of the typical nine-month registration schedule.
• Registration and scheduling are now two separate processes. Thus, you’ll register with CFAI and then schedule your test day with Prometric.

4) May 4, 2021: CFA Early Registration Deadline

• The first deadline for registration
• CFA program applicants are required to pay a one-time enrollment fee as well as the exam registration fee. In contrast, only Level 2 retakers and Level 2 and 3 takers must pay the exam fee.
• If you register and pay by this date, you get an early bird discount (save US$300 on CFA fees).

5) July 20, 2021: Regular CFA Registration Deadline

• The fee is $300 higher than early registration.
• Note that you no longer have the option of late registration for an extra fee. This is the final registration deadline.
• You still have several weeks to schedule your exam date.

6) October 16 & 26, 2021: Rescheduling Deadline

• Up until these dates, you can reschedule your testing date with Prometric online. You may only reschedule within your chosen exam window. You can’t switch to a later window.
• The usual rescheduling fee for 2022 and on will be $250. However, due to travel restrictions, CFAI has reduced the rescheduling fee for all 2021 exams to $25.

7) December 2021: Grading and Results

• Grading is done in December
• You can learn about historical CFA pass rates

February 2022 CFA Exam Dates

For the first testing window in 2022, the CFAI will offer both Levels 1 and 2. If you want to take Level 3, you’ll need to wait until May.

What about the Access Scholarship?

Previously, the CFAI has offered many scholarships that reduce the exam fees. Specifically, the Access Scholarship was designed to help candidates who couldn’t afford the full fee. In the old schedule, applications for the Access Scholarship were due 3-4 months before the exam date.

However, it’s currently unclear what schedule the scholarship will follow. As of August 2021, the CFAI website says only “the scholarship application window is closed and will reopen in the coming months.” Thus, it doesn’t seem that the CFAI will offer this scholarship for the November 2021 exam window. If you were counting on this scholarship, you may need to wait until at least February 2022.

Frequently Asked Questions from Readers

1. When is the CFA Level 1 exam date?

Beginning in 2021, you have four opportunities to take CFA Level 1 each year: February, May, August, and November.

2. How about the CFA Level 2 and 3 exam date?

Registration has already closed for the 2021 exam dates. Beginning in 2022, the CFAI will offer CFA Levels 2 and 3 in alternating quarters. As a result, you can take Level 2 in February or August and Level 3 in May or November.

For Your Further Reading

• How to become a CFA
• Frequently asked questions on the CFA exam
• CFA Institute information on schedules and fees