CFA

How Much the CFA® Exam Costs

woman dropping a hundred dollar bill in a piggy bank so she can save for how much it costs to take the CFA exam

One of the requirements for becoming a Chartered Financial Analyst (CFA) is to pass the three levels of the CFA exam. The CFA Institute administers the CFA exam each year in over 170 cities in June and in 70 cities in December. The CFA exam testing centers are located throughout the world. Please visit the CFA’s testing center information pages for the June and December exams to find a testing center location near you. Now, let’s answer the question you’re probably dying to ask: how much does it cost to take the CFA exam?

The following charts illustrate the fees for the CFA exam:

June 2020 CFA Exams

One-time Enrollment Fee$450.00Level 1 CFA exam only.
Early Registration Fee$700.00For all exam levels. Usually ends in October prior to the June exam. 
Standard Registration Fee$1,000.00For all exam levels. Usually ends in February prior to the June exam.
Late Registration Fee$1,450.00For all exam levels. Usually ends in March prior to the June exam.

December 2020 CFA Exams

One-time Enrollment Fee$450.00Level 1 CFA exam only.
Early Registration Fee$700.00For all exam levels. Not currently available for the 2020 exams.
Standard Registration Fee$1,000.00For all exam levels. Not currently available for the 2020 exams.
Late Registration Fee$1,450.00For all exam levels. Not currently available for the 2020 exams.

To enroll and sit for the CFA exam, you’ll need to pay exam fees to the CFA Institute. It’s important to note that you must make all payments in U.S. dollars. Also, the CFA Institute accommodates alternate exam days based on religious obligations or disabilities that might prevent you from taking the CFA exam on certain days. You can find out what their policy is for both situations on their policies page.

The CFA exam costs are relatively significant, which is why if you’re a CFA candidate, you should make the most of your investment by preparing to the best of your ability.


If you are prepping for an upcoming Level I CFA® exam, check out these top 5 pointers for the Level I CFA exam. And if you want to take your test-prep game to a whole new level, click here for our FREE trial. We’ll have you ready to ace the test on exam day.

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