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CFA® Exam Dates 2026 and 2027 for Level I, II and III

CFA® exams are held in up to four windows a year, usually February, May, August and November, but not every level is offered in every window: Level I sits in all four, Level II in May, August and November, and Level III in February and August. The next windows are February 2027 (Level I and III), May 2027 (Level I and II) and August 2027 (all three levels), according to CFA Institute's calendar read on 19 October 2026.

Updated 26 October 2026. Facts checked against the official sources listed at the end.

When are the next CFA exams?

Exam dates from CFA Institute's dates and fees tool, read on 19 October 2026. Each window lasts several days; you book one appointment inside it.

WindowLevel ILevel IILevel III
November 202611 to 17 Nov 202618 to 22 Nov 2026not offered
February 202722 to 28 Feb 2027not offered18 to 21 Feb 2027
May 202711 to 17 May 202718 to 22 May 2027not offered
August 202715 to 22 Aug 202723 to 27 Aug 202711 to 14 Aug 2027
November 202713 to 19 Nov 202720 to 24 Nov 2027not offered

Registration for November 2026 has closed.

What are the registration deadlines?

All deadlines are at 11:59 PM US Eastern time, and registration windows open at 9:00 AM Eastern.

WindowRegistration opensEarly deadlineRegistration closesScheduling deadline
February 20275 May 20267 July 20265 November 202610 November 2026
May 202712 August 202614 October 202610 February 202716 February 2027
August 20273 November 202620 January 202729 April 20276 May 2027
November 2027not yet published

The same deadlines apply to every level offered in a window. Early registration is USD 350 cheaper at each level; see CFA exam fees and registration.

How often can you sit a CFA exam?

CFA Institute allows a maximum of two CFA exam attempts in a calendar year, and not in consecutive windows or in windows within six months of each other. Plan a retake with those limits in mind, and check your own eligible windows in your CFA Institute account before you register.

Which window should you choose?

Work back from the hours you need. CFA Institute says successful candidates report over 300 hours of study per level; at 15 hours a week that is about 20 weeks. Counting 20 weeks back from the first day of each Level I window gives the latest comfortable start at that pace:

Level I windowStart by (20 weeks before)
February 20275 October 2026
May 202722 December 2026
August 202728 March 2027
November 202726 June 2027

Add two or three weeks of slack for work peaks, illness and travel. If a start-by date has already passed, the window can still be yours: divide 300 hours by the weeks you have left (17 weeks, for example, means about 18 hours a week), or choose the next window.

The free study plan generator turns a chosen exam date into a week-by-week schedule, and how long to study for CFA Level I explains the trade-offs.

When do results come out?

CFA Institute says results arrive by email within 5 to 9 weeks after the window closes. For the August 2026 window it emailed Level I results on 24 September 2026, Level II on 30 September 2026 and Level III in October 2026. You also have to complete a Practical Skills Module at each level to receive your result.

What else do you need for exam day?

A valid international travel passport, an approved calculator (Texas Instruments BA II Plus or Hewlett Packard 12C), and an arrival about 30 minutes before your appointment. See CFA Level I explained, Level II and Level III for the format of each exam.

Frequently asked questions

When is the next CFA Level I exam?

According to CFA Institute's calendar, the next Level I windows are 22 to 28 February 2027, 11 to 17 May 2027, 15 to 22 August 2027 and 13 to 19 November 2027.

Is CFA Level III offered in May or November?

No. In the current calendar Level III is offered in February and August only.

How many times a year can I take the CFA exam?

At most twice in a calendar year, and not in consecutive windows or in windows within six months of each other.

What is the registration deadline for the August 2027 CFA exams?

Early registration ends on 20 January 2027 and registration closes on 29 April 2027, both at 11:59 PM US Eastern time. The scheduling deadline is 6 May 2027.

Sources

Figures that change by year were read from these pages on 26 October 2026. Fees, dates and rules can change: check the source before you register.

Related guides

CFA exam fees and registration

CFA exam fees for 2026 to 2027 (USD 1,140 to 1,590 per level), early registration deadlines, who can enroll and how to register, from CFA Institute.

Read the guide

How long to study for CFA Level I

CFA Institute says successful candidates report over 300 hours per level. What that means in weeks at 10, 15 or 20 hours a week, and when to start.

Read the guide

CFA Level I explained

CFA Level I in one page: 180 questions, two 135-minute sessions, the 2026 and 2027 topic weights, exam windows and recent pass rates from CFA Institute.

Read the guide

CFA Level III explained

CFA Level III explained: the three pathways, item sets and essay sets, topic weights, the 2027 windows, fees and recent pass rates from CFA Institute.

Read the guide

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