CFA exam dates 2026–27: Levels I, II and III

At a glance: what is still ahead?

As of 26 September 2026, the February, May and August 2026 CFA exam windows have finished. The remaining 2026 administration is 11–22 November 2026, the overall window identified in CFA Institute's passport assistance letter. Level I and Level II are the levels offered in November. The standard registration deadline of 11 August 2026 has passed, so this is relevant to candidates already registered and scheduled. A candidate's exact exam date and test center are the appointment in their CFA Institute Candidate Tile, not the first or last date of the overall window.

For the next cycle, CFA Institute identifies 18–28 February 2027 as the overall February window in its passport assistance letter. Its usual cadence offers Level I and Level III in February. Official accommodations guidance confirms a 5 November 2026 standard registration cutoff for February 2027, with the relevant accommodation submission deadline of 11 November 2026 for those registering in the standard period. May 2027 normally offers Level I and Level II; the same official accommodations page shows a 10 February 2027 standard registration cutoff and 17 February 2027 standard-period accommodation cutoff for May. Confirm level-specific exam days, registration availability, seat scheduling cutoffs and fees in CFA Institute's live dates-and-fees tool before committing.

Two August 2026 result dates remain: 30 September 2026 for Level II and 20 October 2026 for Level III. CFA Institute says results are emailed after 9:00 a.m. Eastern Time. Level I's August result was released on 24 September and is no longer upcoming.

Verified date and status table

How to read this table: an overall administration window can cover several levels and test centers. It does not mean every level is available on every date. The accommodations dates are application cutoffs for candidates who need approved arrangements, not a substitute for general registration or Prometric scheduling deadlines. CFA Institute publishes the exact level-specific calendar in an interactive tool, so this guide separates a verified window from a personal test appointment.

Which level is offered in which month?

This is CFA Institute's stated typical cadence, rather than a promise that every future window will open exactly as a previous year did. Level I is normally available four times annually. Level II is normally available in May, August and November. Level III is normally available in February and August. If you passed an earlier level, map your next level to its own set of months rather than assuming you can sit in the immediately following quarter. The program requires exams to be completed sequentially, and your account will show the options for which you are eligible.

CFA Institute permits a maximum of two exam attempts per calendar year, with no consecutive exam windows and no windows less than six months apart. It also caps attempts at six per level. These spacing rules matter when assessing a retake after a result. For example, a disappointing August result does not automatically make November an eligible retake merely because the November window exists. Check the policy and the options shown in your candidate account before paying, and use the live level-specific calendar as the final authority.

November 2026: what registered candidates should do now

If you already registered for the November 2026 Level I or Level II window, log in and check for a confirmed Prometric appointment. Completing registration and paying CFA Institute does not reserve a seat. You need a scheduled date, time and location, and Prometric should send confirmation. Keep the confirmation email and compare it with your CFA Institute Candidate Tile. If the information differs, resolve it through the official scheduling channel rather than assuming one of the messages is current.

The overall 11–22 November period allows for multiple testing days. Your center may offer only some of them, and a city search may show different availability from a country-wide search. CFA Institute says seats are first come, first served and that additional availability may appear. It recommends searching by city and country and widening the date range. These are useful options if your preferred center seems full, but do not let the scheduling deadline pass while waiting for a particular slot. The date in a passport assistance letter is a broad administration window and is not a replacement for your personal appointment.

Check your passport early. CFA Institute's identification policy requires a valid original international travel passport, with your account name matching the passport name. An expired passport or an identity mismatch can prevent admission even when your registration and travel plans are complete. If your passport details need correction, follow CFA Institute's identification process promptly. Do not rely on an unofficial suggestion that a national ID or a photocopy will be accepted. Also review the official exam-day instructions for permitted items, arrival time, center rules and any center-specific notices.

In the last six weeks, keep preparation tied to the published curriculum for your registered exam year. Take a full practice run under realistic timing, review errors by topic, and repeat the kinds of questions that exposed a weakness. Reserve time for ethics, formulas and reading comprehension instead of spending every remaining hour on new material. Build the final week around sleep, logistics and concise revision. If you encounter a center cancellation, follow CFA Institute and Prometric notices for your specific booking; a social post about another city is not a change to your own appointment.

February 2027: choosing a Level I or Level III sitting

February is the next usual Level I and Level III administration. CFA Institute's February 2027 passport assistance letter identifies the overall window as 18–28 February 2027. The published registration-band information on CFA Institute's accommodations page shows an early registration band ending 7 July 2026 and a standard band running 8 July–5 November 2026. Because early registration has passed as of this update, prospective candidates should review current standard availability, the level-specific registration price, the scheduling deadline and center seats in the interactive calendar immediately. The 5 November date is a registration cutoff, not the date by which every candidate must finish studying.

Level I candidates who are beginning the program should check the education and work-experience entry criteria, passport requirements and the edition of curriculum that corresponds to February 2027. CFA Institute announced curriculum updates starting with the February 2027 exams, including changes to Level I Quantitative Methods and Equity Investments. A 2026 study plan or set of notes may therefore omit material or overemphasize older content. The official Learning Ecosystem and 2027 curriculum should anchor the study plan. A candidate moving from a 2026 attempt to February 2027 should make an explicit inventory of changed topics before repeating old question banks.

Level III candidates should confirm their pathway and exam-specific requirements in their account. Level III preparation differs from Level I: it demands applying concepts to an investment problem and communicating an answer in the form requested. A preparation calendar should include timed practice and feedback on how well the response addresses each command word. Some candidates wait for an August 2026 Level III result on 20 October before deciding whether February is appropriate. That leaves little time until the 5 November registration cutoff, so prepare a conditional plan in advance and act after the official result rather than guessing from unofficial pass-rate discussions.

If you need disability accommodations, the published early-period request deadline for February 2027 is 14 October 2026 for those who registered by 7 July, and the standard-period request deadline is 11 November 2026 for those who register 8 July–5 November. These are distinct from the exam registration cutoff. Review documentation requirements well before the applicable date; requests can require materials from a professional and review time. A prior approval may have a separate confirmation route in the Candidate Tile.

May 2027: the next usual Level II opportunity

Level II is not in CFA Institute's typical February cadence. Its next usual opportunity after November 2026 is May 2027, when Level I is also normally offered. CFA Institute's accommodations page shows an early registration band ending 14 October 2026 and a standard registration band ending 10 February 2027 for May 2027. The exact level-specific exam days, scheduling cutoff and city availability should still be confirmed in the live dates-and-fees tool. Do not interpret these registration dates as an exact Level II testing date; the May appointment is chosen separately after registration.

Successful August 2026 Level I candidates already received their 24 September result, and CFA Institute's announcement says May 2027 Level II registration is open. Before registering, check how the six-month spacing rule applies to your own sequence and confirm eligibility in your account. If you have just passed Level I, make a realistic transition from broad foundation study to deeper valuation and application. Start with a diagnostic review of weak Level I topics that support Level II, then work through current Level II learning outcomes and timed item-set practice. Budget time for the Practical Skills Module and all candidate obligations displayed in your account.

For May 2027 accommodation requests, the official early-period submission deadline is 20 January 2027 for candidates registered by 14 October 2026. The standard-period submission deadline is 17 February 2027 for those registered from 15 October 2026 through 10 February 2027. These application dates may be earlier than a candidate expects when looking only at the exam month, so put them on a separate checklist. Anyone with an urgent documentation question should use CFA Institute's official accommodations channel, because a tutor or generic exam calendar cannot approve an arrangement.

May 2027 can also be a Level I option for a new candidate who wants more study time than February offers. That decision should reflect prior finance experience, weekly hours actually available, university or work commitments, and test-center logistics. It is better to choose a window that you can prepare for consistently than to rely on a paid deferral as a backup. CFA Institute is ending paid deferrals for exams from February 2027 onward, making the initial window decision more consequential.

Registration and appointment are two separate steps

CFA Institute describes a two-step process. First, enroll and register for the appropriate level and administration through your CFA Institute account. Review the curriculum year, price, tax and policies before paying. Second, after payment is processed, use the scheduling option in the CFA Program Candidate Tile to choose a Prometric center, date and time. A payment receipt proves registration, while a Prometric confirmation proves that a seat has been reserved. Treat the two documents differently. If you cannot find the schedule option, check that payment has processed and contact the official support channel.

During scheduling, search a city and country, inspect the whole available date range, and compare travel time as well as seat time. A cheaper or closer hotel may not compensate for a very early start after a long journey. Candidate account details can include special center instructions, such as arrival procedures and local access information. Store a copy of the appointment confirmation and check it again as the exam approaches, because operational changes can happen. If Prometric changes or cancels a booking, read the notice and use its rescheduling instructions rather than purchasing another exam registration in haste.

CFA Institute says appointments generally need to be scheduled by a deadline typically about 60 days before the exam window starts, but a specific administration can differ. The live exam calendar and your Candidate Tile determine the real deadline. Registering close to the final day can reduce nearby seat choice, so schedule as soon as your account allows. The Institute currently lists a US$250 fee to reschedule an appointment within the same exam window, subject to availability. Changing to another window is a different policy matter; do not assume that the same fee or process applies.

Registration deadlines open and close on Eastern Time according to the official calendar. CFA Institute states registration windows open at 9:00 a.m. ET and deadlines are 11:59 p.m. ET. Dubai is hours ahead of Eastern Time, and the offset changes with daylight saving in the United States. Set a calendar reminder that shows both ET and your local time, then complete the transaction before the final day. A card issue, bank approval delay or overloaded website can make a last-hour plan fail.

Fees, taxes and the cost of changing plans

CFA Institute's program overview lists 2026 exam fees effective from the February 2026 window: early registration at US$1,140 for Level I or II and US$1,240 for Level III; standard registration at US$1,490 for Level I or II and US$1,590 for Level III. The amounts displayed by the live dates-and-fees tool are the correct amounts for the window you select, and applicable local taxes can be added at checkout. Do not use an old screenshot as the price for February or May 2027. The total program cost depends on when you register for each level, whether you repeat a level, taxes and any optional materials or appointment changes.

Before paying, calculate a full exam budget: registration, applicable tax, travel to the center, possible accommodation, a passport renewal if needed, and the time you will be taking away from work or other studies. Decide which items are essential. CFA Institute includes official curriculum resources through candidate access, so an expensive extra course is a separate choice, not a condition for being eligible. Scholarships may lower costs for eligible applicants, but deadlines and award conditions are separate from exam registration. Check the official scholarship information before assuming an award will arrive in time for a chosen window.

The policy for deferring has changed. CFA Institute announced that paid deferrals end for February 2027 exam cycles onward. The existing 2026 deferral policy states that candidates registered for a 2026 exam may purchase a US$449 paid deferral before its deadline, subject to terms. An emergency deferral is a separate route with its own eligibility and documentation. Neither is a universal way to move any exam at any time. A candidate who misses an exam appointment without an eligible action may forfeit the registration fee. Read the current policy for the exact exam year and window before relying on a deferral as a study strategy.

If work, health, travel or family commitments make a chosen date uncertain, compare the next normal window before you register. Since a February 2027 registration does not carry the former paid deferral safety net, a realistic study plan is part of financial planning. Think through the decision while the regular registration window is still open, when you have time to compare fees and center availability. This is particularly useful for candidates balancing the CFA exam with a qualification such as the CPA exam schedule or the ACCA session calendar.

Results dates and what happens afterward

CFA Institute has confirmed that August 2026 Level II results are emailed on 30 September 2026 and Level III results on 20 October 2026, both after 9:00 a.m. ET. The August Level I result was emailed on 24 September, so it has already happened as of this guide's check date. Your result is delivered through official channels and should be interpreted using the score report in your account. A rumor, a payment-screen change or a candidate forum is not an official pass/fail notification.

For future administrations, CFA Institute says official results usually arrive within five to nine weeks after the exam window closes. That is a typical interval, not a fixed release date for November 2026 or February 2027. Once an exact date is announced, use the exam-results page and candidate emails to update your calendar. Results for different levels can arrive on different days. A candidate who sat Level I and a colleague who sat Level II in the same overall month should not assume they will hear simultaneously.

Read the full performance information after a result. A pass confirms eligibility to plan the next level, subject to exam sequencing and window rules; it does not automatically reserve a place. A fail can show an overall scale score and topic-level performance relative to the minimum passing score, helping you target another attempt. CFA Institute notes that Level III passers do not receive the same detailed result presentation. The minimum passing score is not a permanently fixed public percentage, so avoid converting an unofficial percentage calculator into a retake decision.

After a pass, choose the next available level with enough preparation time. After a fail, plan a review period before paying again. Identify whether the problem was content coverage, retention, question interpretation, pacing or exam-day execution. Different problems need different remedies. Remember the limit of two attempts per calendar year and the nonconsecutive, six-month spacing rules. The candidate account and live calendar are the right places to confirm an eligible next window.

A study timeline built around the real deadlines

Start by choosing an actual registration window and calculating the weeks until your selected appointment, rather than simply writing the exam month at the top of a study plan. Put registration, scheduling, accommodation, passport and result dates on the same calendar. Separate tasks you control, such as finishing a reading block, from external cutoffs you cannot move. If your work schedule changes, preserve the official cutoffs first and adjust study blocks second.

In the first phase, inspect every learning outcome in the curriculum for your exam year. Build a weekly plan around chapters, practice questions and a review cycle. Allocate more time to material that is both challenging and foundational for later readings. Use the official Learning Ecosystem to identify what the current curriculum requires, and make your notes concise enough to review repeatedly. A study calendar that assumes uninterrupted seven-day availability tends to collapse after the first illness, project deadline or family commitment; plan some recovery time.

In the middle phase, shift from reading to retrieval. Answer questions before checking explanations, track why the chosen option was wrong, and revisit weak topics after several days. A mistake log is most useful when it records the underlying reasoning error rather than only the question number. Group errors into categories such as missing formula, wrong assumption, misread command, weak concept or time pressure. Then assign each category a practice response. This keeps revision evidence-based and prevents an entire weekend from being spent rereading topics you already know.

In the last phase, practise under exam-like timing. Review the full question and the task asked, manage the pace across sessions, and learn when to move on from a difficult item. Use mock performance diagnostically rather than treating one mock score as a guaranteed prediction. Review a mock thoroughly before taking another. In the final days, prioritize sleep, passport and appointment checks, route planning, familiar formulas and concise notes. Starting a wholly new resource immediately before the exam can displace more valuable consolidation.

For candidates juggling multiple admissions or professional exams, use the international exam timetable to see scheduling collisions. Someone comparing finance credentials may also check our GMAT date guide or GRE date guide if a graduate degree is part of the same career plan. These internal guides help coordinate calendars; CFA Institute remains the authority for CFA bookings and eligibility.

For candidates in Dubai and the UAE

Start with the official list of test centers, then use your candidate scheduling interface to see live seats. CFA Institute says the program operates in more than 400 locations globally, but capacity and available dates vary by market. A city on a general center list does not guarantee an open seat for your chosen level and window. Search Dubai and nearby practical locations if necessary, while considering border crossings, travel time and how a changed appointment would affect work. Book the appointment before committing to non-refundable travel.

Read deadline times in Eastern Time carefully. The UAE stays on Gulf Standard Time while US Eastern Time alternates between standard time and daylight saving time. Do not subtract a fixed number of hours from every deadline across the year. Use a timezone-aware calendar entry for 11:59 p.m. ET and set a reminder at least several days earlier. This matters for the November 2026 result and February 2027 registration dates as well as for any future CFA window.

A valid passport deserves attention even for a candidate taking the exam locally. CFA Institute requires the original international travel passport for identity verification, and the name must match the account. Bring the current document identified in your profile; an Emirates ID alone is not a substitute under CFA Institute's published policy. Check the center instructions for permissible calculators, personal items, breaks and arrival time. Rules can change, so read the current official exam-day guide rather than a forum description from a previous year.

If you need an accommodation, send the request through CFA Institute's process and observe its published cutoff for your registration band. A center cannot simply promise a change on exam morning. Leave enough time for the documentation and review steps. For any suspected appointment disruption, verify directly through your Candidate Tile and Prometric messages. Keep copies of official emails and note which team is responsible: CFA Institute handles registration and program questions; Prometric handles the confirmed testing appointment and local scheduling information.

What changed for the 2027 curriculum?

CFA Institute announced that the 2027 curriculum applies beginning with the February 2027 administration. The Institute highlighted updates to Level I Quantitative Methods and Equity Investments that represent about a quarter of the Level I exam, alongside changes to learning tools and Practical Skills Modules. This is a significant reason to check the year printed in a book or shown in an online product before buying or reusing it. A 2026 textbook can still help with concepts that remain unchanged, but it should not be treated as the definitive checklist for a 2027 exam.

Use the official learning outcomes to compare editions. Record which readings were added, removed or changed, then adapt your revision plan. If you deferred or are retaking Level I, avoid making an assumption that the 2027 test simply repeats the 2026 blueprint. Revisit the updated areas even if they were strengths last time. CFA Institute publishes curriculum errata and updates to its Learning Ecosystem; consult those channels when a printed example or formula seems inconsistent.

The year change also affects timing decisions. A candidate deciding between a late 2026 seat and February 2027 should consider the preparation time, registration and deferral policies, and the curriculum version as a package. For an already registered November 2026 candidate, the correct baseline is the 2026 curriculum for that administration. For a February or May 2027 candidate, use the 2027 curriculum. Avoid mixing answer explanations across editions unless you have confirmed they cover the same learning outcome.

How to verify a CFA date yourself in five minutes

1. Open the CFA Institute exam dates-and-fees tool listed in the official sources at the end of this page. Select the exact level, not just the month, and choose the intended exam period.
2. Read the registration opening, early and standard cutoffs, scheduling deadline, exam window and price displayed for that combination. Note that the price excludes any local tax that the checkout may add.
3. Confirm your eligibility and payment status in the CFA Institute Candidate Tile. A general public calendar cannot know whether your own account permits a retake or requires another step.
4. After registering, schedule with Prometric and save its confirmation. Check the exact date, local start time and address in both the appointment email and Candidate Tile.
5. Recheck the official result calendar and your email after the administration. Result dates often become exact closer to release; do not invent one based on the usual five-to-nine-week interval.

This process also helps detect expired third-party content. If a page says November 2026 registration is open after the 11 August cutoff, or lists a February 2027 Level II sitting despite the normal cadence, treat that as a reason to verify directly. Broad calendars are helpful planning maps; the live level-specific tool and your confirmed appointment control the actual booking.

Common date and booking mistakes

Confusing the window with an appointment: an overall 11–22 November period tells you when the administration runs; it does not reserve 11 November for every Level I candidate. Stopping after payment: registration must be followed by scheduling. Using the wrong level: February usually offers Level I and III, whereas May usually offers Level I and II. Missing ET: a deadline set for 11:59 p.m. Eastern Time is not automatically 11:59 p.m. in Dubai.

Assuming deferral protection: paid deferrals end for the February 2027 cycle onward, while eligible 2026 candidates are subject to the current 2026 policy and deadline. Ignoring the exam year: the 2027 curriculum starts with February 2027. Waiting for a desired center: seat availability can change, but a missed scheduling deadline can leave you without an appointment. Following unofficial result speculation: the confirmed August 2026 Level II and III releases are 30 September and 20 October, respectively.

One additional mistake is making a future plan from an expired historical table. The February, May and August 2026 testing windows are complete; their dates can provide context but are no longer options to book. The live calendar can display future dates beyond those listed here. When it does, add those dates to your personal plan only after selecting the exact level and period. That keeps a long-range plan current without presenting an unverified day as an official appointment.

Frequently asked questions

Can I still register for November 2026?

The published standard registration deadline was 11 August 2026. As of 26 September, new registration for the November Level I and II windows has closed. Already registered candidates should confirm their individual Prometric appointment. If your account shows a special circumstance, follow the instructions in that account rather than assuming a generic extension applies to everyone.

Is the February 2027 exam on one date?

No. CFA Institute's assistance letter gives an overall 18–28 February 2027 administration window. The usual February levels are I and III. The particular day and time available to you depend on level, location, center capacity and the appointment you schedule. The live dates-and-fees tool provides level-specific window details, and the Prometric confirmation establishes your seat.

When should an August 2026 Level II or III candidate expect results?

CFA Institute has announced 30 September 2026 for Level II and 20 October 2026 for Level III, with emails after 9:00 a.m. ET. If your email is delayed, use the official candidate account and results guidance. Do not interpret another candidate's email arrival time as proof that yours should already be there.

Can I move my February 2027 booking to a later window by paying a deferral fee?

CFA Institute announced that paid deferrals will end beginning with February 2027 exam cycles. Emergency deferrals may still exist for specific qualifying circumstances under the published policy. Check that policy for eligibility and documentation before relying on any move. A US$250 in-window rescheduling fee concerns an appointment within the same window and is a different action.

Does the exam fee include local tax or travel?

CFA Institute states that displayed fees exclude any applicable local tax, which can be added during payment. Travel, lodging and optional preparation products are separate. The live tool and checkout show the amount relevant to your level and window. A historical fee table can help budget, but it should not replace the current checkout amount.

How often may I attempt a level?

CFA Institute permits at most two attempts per calendar year, not in consecutive windows or windows less than six months apart, and no more than six attempts per level. The eligible retake options for your own account should be confirmed after the result is official. A listed exam month does not override the spacing rule.

Official sources and last check

All external references are collected here. The specific CFA Institute calendar and your candidate account should be checked again before registration, travel or exam day because availability and operational details may change.

• CFA Institute: live exam dates and fees by level
• CFA Institute: registration, scheduling and annual cadence
• CFA Institute: November 2026 overall window letter
• CFA Institute: February 2027 overall window letter
• CFA Institute: accommodation and registration-band dates
• CFA Institute: official results release dates
• CFA Institute: test centers and scheduling rules
• CFA Institute: program overview and 2026 fee table
• CFA Institute: current deferral policy
• CFA Institute: 2027 paid-deferral change
• CFA Institute: 2027 curriculum update
• CFA Institute: passport identification policy

Last checked 26 September 2026. This guide distinguishes confirmed overall windows, published registration bands and your own appointment. Always verify the selected level in CFA Institute's live calendar.