CFA exam dates and registration deadlines, 2026 to 2027
Level I runs four times a year, Level II three, and Level III only twice. The most urgent date is October 14, 2026: early registration for the May 2027 window closes then, and it saves $350 per exam.
Which levels are offered when
| Window | Level I | Level II | Level III |
|---|---|---|---|
| February | Yes | No | Yes |
| May | Yes | Yes | No |
| August | Yes | Yes | Yes |
| November | Yes | Yes | No |
The next windows and their deadlines
| Window | Exam dates | Early registration closes | Final registration closes | Status today |
|---|---|---|---|---|
| November 2026 | Level I: Nov 11 to 17. Level II: Nov 18 to 22 | April 15, 2026 | August 11, 2026 | Registration closed |
| February 2027 | Level III: Feb 18 to 21. Level I: Feb 22 to 28 | July 7, 2026 | November 5, 2026 | Standard fee only; closes in weeks |
| May 2027 | Level I: May 11 to 17. Level II: May 18 to 22 | October 14, 2026 | February 10, 2027 | Early registration closes this week |
| August 2027 | Level III: Aug 11 to 14. Level I: Aug 15 to 22. Level II: Aug 23 to 27 | January 2027 | April 29, 2027 | Registration opens November 3, 2026 |
As published by CFA Institute and checked October 2026. Deadlines are 11:59 pm Eastern Time. Always confirm on the official exam calendar.
After you register, you still have to schedule your appointment at Prometric. The scheduling deadline falls about a week after the final registration deadline, for example November 10, 2026 for the February 2027 window.
Rules that cost people money
- Registration covers one window. Moving to another window has cost a deferral fee, and from the February 2027 cycle it means registering and paying again.
- Paid deferrals end with the February 2027 cycle. Until then, candidates could defer their registration to a later window for a fee.
- Deferred candidates pass far less often. In recent official results, first-time Level I candidates passed at 49% against 29% for those who had deferred.
- Two attempts per level per year, and you cannot retake in consecutive windows or windows closer than six months apart.
When results arrive
Level I and Level II results usually arrive five to seven weeks after the exam, and Level III results take a little longer because the essay answers are graded by hand. The August 2026 Level III results are due on October 20, 2026.
Choosing a window
At 300 or more hours per level, that is roughly four to six months at a steady 12 to 15 hours a week.
Early deadlines close four to six months before each window, so they usually pass before your studying has really started.
A fixed date is the best study discipline there is, and deferring is no longer an option from 2027.
Level III is offered only in February and August, so a failed attempt means a six-month wait.
Common questions
Can I switch to a different window after I register?
Not without registering again, and from the February 2027 cycle there are no paid deferrals. If you cannot sit your window, register for a later one.
What if I miss the registration deadline?
Standard registration stays open until the final deadline for your window. After that you wait for the next window in which your level is offered, which for Level III can be six months.
Can I move my appointment?
Yes. Within your window you can usually reschedule your appointment for a fee, up to the rescheduling deadline published for your level.