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.
Starting in 2022, the CFAI will offer Level 1 in each quarter and Levels 2 and 3 in alternating quarters.
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.
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.
|August 20, 2020||Level 1 & 3 registration opens||1|
|January 2021||Mock exams available (estimated)||2|
|February 2, 2021||Level 1 & 3 scheduling windows open, Level 2 registration and scheduling windows open||3|
|May 4, 2021||Level 1-3 early registration deadline||$700||4|
|July 20, 2021||Level 1-3 registration closes||$1,000||5|
|August 15, 2021||Level 1-3 scheduling deadline|
|October 16, 2021||Level 1 rescheduling deadline||$25||6|
|October 23, 2021||Level 3 rescheduling deadline||$25||6|
|October 26, 2021||Level 2 rescheduling deadline||$25||6|
|November 16-22, 2021||Level 1 exam dates|
|November 23-25, 2021||Level 3 exam dates|
|November 26-30, 2021||Level 2 exam dates|
|December 2021||CFA Exam results released||7|
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.
|May 13, 2021||Level 1 and 2 registration and scheduling windows open||3|
|August 10, 2021||Level 1 and 2 early registration deadline||$700||4|
|November 1, 2021||Level 1 and 2 registration closes||$1,000||5|
|November 17, 2021||Level 1 and 2 scheduling deadline|
|January 15, 2022||Level 1 rescheduling deadline||$25||6|
|January 22, 2022||Level 2 rescheduling deadline||$25||6|
|February 15-21, 2022||Level 1 exam dates|
|February 22-26, 2022||Level 2 exam dates|
|March 2022||CFA Exam results released||7|
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.
Beginning in 2021, you have four opportunities to take CFA Level 1 each year: February, May, August, and November.
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.