2025 CFA Level 1 Exam Information Dates and Fees Guide

Preparing for the CFA Level 1 Exam in 2025 isn’t just another academic hurdle—it’s a serious commitment that could shape the future of your career.

It’s more than just memorizing financial terms or brushing up on formulas; it’s about mastering the core principles that form the backbone of global finance. Whether you’re aiming to become an investment analyst, portfolio manager, or financial consultant, the stakes are high, and you’re likely aware of the level of dedication this exam demands. This is not an exam you walk into unprepared, and the truth is, many candidates underestimate the sheer volume of work required to succeed.

Now, let’s face it—balancing study, work, and life commitments while preparing for the CFA Level 1 exam can feel overwhelming, especially when you’re dealing with 10 topic areas and hundreds of subtopics. 

If you’re like most candidates, you’re probably grappling with questions like, “Where do I even start?” or “How can I make sure I’m ready?” The reality is that no one wants to spend their limited time searching for accurate information or second-guessing CFA dates, fees, and schedules. That’s where AnalystPrep steps in. We’re not just another resource in your CFA toolkit; we aim to be the ultimate partner in your exam preparation journey. We’ve worked with thousands of candidates just like you, providing not only study materials but also the exact, up-to-date details you need to plan effectively and ace the exam. Our goal is simple: to take the guesswork out of your preparation process so that you can focus all your energy on the one thing that truly matters—passing the exam.

Think of us as your guide, navigating you through the maze of CFA Level 1 requirements. The exam process can often feel like you’re drowning in information overload. From understanding the complex registration process and CFA deadlines to choosing the right exam window and ensuring you’re hitting all your study milestones on time—it’s a lot. Missing a CFA registration deadline or misunderstanding the fee structure can cost you not just financially but also mentally, setting you back in ways that are avoidable with the right guidance.

So, in this article, we’re going to break down everything you need to know about the 2025 CFA Level 1 Exam dates. This isn’t just a checklist of CFA exam dates and fees—we’ll provide the insight and strategies you need to plan ahead, avoid common pitfalls, and approach the exam with confidence. You’ll learn how CFA early registration can save you a significant amount of money and how deferring or rescheduling your exam may affect your timeline. We’ll also get into key aspects of exam day itself so you know exactly what to expect when the clock starts ticking. Trust us, this isn’t a road you want to walk alone. With the right preparation—and the right partner—you’ll be well on your way to success.

Let’s get started with the essential details for 2025, and we’ll guide you through each step of your CFA journey. The path to earning your CFA charter is long and challenging, but with our help, you’ll be equipped with the tools, timelines, and strategies needed to maximize your efforts and pass with flying colors.

2025 CFA Level 1 Exam Dates and Key Deadlines

One of the first things you need to get right when preparing for the CFA Level 1 exam is keeping track of important CFA Level 1 exam dates. Missing a deadline could mean postponing your exam by several months, which is something most candidates cannot afford. To help you stay on track, let’s break down the key CFA dates for the 2025 exam cycle.

The CFA Level 1 exam is offered four times a year—in February, May, August, and November. Each of these CFA exam windows has its own set of deadlines for CFA registration and scheduling, which you need to be aware of well in advance.

For 2025, the CFA Level 1 exam dates are as follows:

• February 2025: February 18–24
• May 2025: May 19–25
• August 2025: August 25–31
• November 2025: November 24–30

Each window allows candidates to schedule their exam within the specified dates. It’s important to note that the CFA exam schedule operates within these defined windows, so you’ll want to register early to secure your preferred exam date.

Registration Fees and Deadlines

When it comes to registering for the CFA exam, the earlier you register, the more you can save. The CFA early registration fee is $900, while the standard registration fee is $1,200. If you miss both the early and standard deadlines, you will not be able to register for that particular exam window, so it’s crucial to pay attention to the CFA registration deadlines. Here are the important CFA registration dates for 2025:

• February 2025 Exam:
  • CFA early registration deadline: September 12, 2024
  • Standard registration deadline: November 7, 2024
• May 2025 Exam:
  • CFA early registration deadline: December 5, 2024
  • Standard registration deadline: February 7, 2025
• August 2025 Exam:
  • CFA early registration deadline: March 7, 2025
  • Standard registration deadline: May 9, 2025
• November 2025 Exam:
  • CFA early registration deadline: June 6, 2025
  • Standard registration deadline: August 8, 2025

Missing the CFA registration deadline not only limits your options but could also delay your progress toward earning your CFA charter. Therefore, we strongly advise marking these dates on your calendar and registering as early as possible to avoid unnecessary stress later on.

Deferrals, Cancellations, and Rescheduling

Life happens, and sometimes unforeseen circumstances can derail even the most carefully planned study schedule. If you need to defer your CFA exam, reschedule, or cancel, it’s crucial to understand the policies surrounding these changes.

The CFA exam deferral allows candidates to postpone their exam to a later window, but there are specific guidelines and associated fees. If you defer before the exam window begins, you can switch to the next available window for a fee of $399. However, deferrals are only granted in cases of illness, family emergencies, or military service.

Alternatively, if you simply need to change your test date within the same exam window, you can reschedule your CFA exam for a fee of $250, as long as you do so at least 48 hours before your scheduled test time.

It’s also important to note that the CFA Institute has a strict cancellation policy. If you need to cancel your CFA exam, you will not be refunded any fees unless under extreme circumstances. The CFA Institute provides limited options for rescheduling or deferring, so it’s always wise to ensure you’re ready to commit to your exam date when you register.

Related Articles

To further enhance your understanding of the CFA Level 1 exam and help you in your preparation journey, check out these insightful articles:

1. 2025 CFA Level I Exam – An overview of what to expect in the upcoming CFA Level I exam.
2. CFA Level I Derivatives – A deep dive into derivatives and their importance for the CFA Level I exam.
3. CFA Level I in 2025 – Key updates and strategies for approaching the CFA Level I exam in 2025.
4. Ethical Standards for CFA Level I 2025 – A detailed guide on the ethical standards you need to understand for the CFA Level I exam.

Explore these resources to equip yourself with valuable insights and strategies for success!

CFA Exam Structure and Format

Now that we’ve covered the critical CFA exam deadlines and registration details, let’s talk about what you can expect on CFA exam day. The CFA Level 1 exam is divided into two sessions: morning and afternoon, with each session lasting approximately 2 hours and 15 minutes. You’ll have a total of 180 multiple-choice questions, equally divided between the two sessions, covering topics like Ethical and Professional Standards, Financial Reporting and Analysis, Quantitative Methods, and Portfolio Management.

The exam is computer-based, and candidates take it at designated CFA exam locations. Be sure to review your specific CFA exam schedule and arrive early on the exam day to give yourself ample time to settle in.

Conclusion

Becoming a CFA charterholder is a commitment that not only demands hard work and dedication but also strategic planning and smart use of your time. The CFA Level 1 exam is the first milestone in this journey, and while it may seem overwhelming at times, the key to success lies in your approach. Staying organized, adhering to important CFA deadlines, and understanding the exam structure are crucial first steps. But there’s more to it than just keeping track of dates—you need a solid study plan that aligns with your personal learning style and a set of resources that enhance your comprehension of the material.

One of the most critical aspects of this process is managing your schedule. The CFA Institute offers several CFA exam windows, but it’s essential to choose the one that fits your readiness level, not just what seems convenient. Remember, the pressure will build as the CFA exam dates draw closer, so a proactive study approach is your best strategy. Starting early and spacing out your preparation gives you a better grasp of the vast syllabus, reducing the likelihood of last-minute cramming. And when life inevitably throws you curveballs, don’t hesitate to reschedule your exam if necessary—this can be the difference between success and an avoidable failure.

As you look ahead to 2025, think about the long-term value of what you’re pursuing. The CFA charter isn’t just another credential—it’s a career-defining achievement. It signifies to employers and peers that you have not only the technical skills but also the dedication and ethical grounding required to excel in finance. So, approach your preparation with this in mind. Every step you take, from mastering foundational concepts to honing your exam-taking strategies, brings you closer to this prestigious designation. As you navigate the extensive CFA curriculum, remember that consistent effort and targeted practice, such as through mock exams, will sharpen your ability to tackle complex problems under pressure.

Your success isn’t just about passing the exam—it’s about transforming into a financial professional with the analytical prowess, ethical integrity, and resilience needed to thrive in the industry. And while the road to becoming a CFA charterholder is challenging, the long-term rewards, both in career advancement and personal growth, are well worth the effort.

So, as you prepare for 2025, stay disciplined, utilize all available resources—including high-quality prep materials like those from AnalystPrep—and keep your eyes on the prize. Your CFA charter isn’t just a milestone; it’s the foundation of a thriving career in finance, a confirmation of your expertise and commitment to excellence.

Frequently Asked Questions

As we wrap up this comprehensive guide, it’s important to address some of the most common questions that candidates have about the CFA exams. These answers will help clarify important details about the CFA exam schedule, deadlines, and eligibility, especially as you prepare for the 2024-2025 exam cycle. Whether you’re aiming to sit for CFA Level 1, Level 2, or Level 3, this section offers valuable insights to assist you in your exam preparation.

1. How many times will the CFA exam be administered in 2025?

The CFA exam schedule in 2025 will follow a similar structure to previous years, offering multiple exam windows for each level. For the CFA Level 1 exam, candidates will typically have four opportunities to sit for the exam, with testing dates spread across February, May, August, and November. The CFA Level 2 test dates and CFA Level 3 test dates will be less frequent, but candidates can expect two to three exam windows for each level.

2. When is the CFA Level I exam scheduled?

The CFA Level 1 exam dates in 2024 and 2025 are spread across several months to give candidates flexibility. The main CFA Level 1 exam dates 2024 fell on the months of February, May, August, and November. You can view the exact dates and register for the exam by checking the CFA exam calendar on the CFA Institute’s website. Keep an eye on the CFA exam registration dates to ensure you secure your preferred CFA Level 1 test dates.

3. Why did the CFA Institute change the CFA exam schedule?

The CFA Institute changed the CFA exam schedule in recent years to provide candidates with more flexibility in choosing when to sit for the exams. The introduction of multiple exam windows per year and computer-based testing has allowed candidates to better align their study schedules with the CFA exam dates. This change also helps accommodate various personal and professional commitments, ensuring candidates have sufficient time to prepare for the exams.

4. How do I qualify for the CFA Level 1 exam?

To qualify for the CFA Level 1 exam, candidates must meet certain eligibility requirements. You need to either hold a bachelor’s degree or be in the final year of your undergraduate program. Alternatively, candidates with at least 4,000 hours of relevant work experience, accumulated over a period of three years, can also qualify. Make sure to register by the CFA Level 1 registration deadline and stay aware of other important CFA deadlines as you plan your exam journey.

5. How many CFA exams are there?

There are three levels in the CFA program: CFA Level 1, CFA Level 2, and CFA Level 3. Each level requires a separate exam, which tests candidates on increasingly complex financial concepts. The CFA Level 1 exam focuses on investment tools and professional standards, while Level 2 dives deeper into asset valuation, and Level 3 covers portfolio management and wealth planning. Candidates must pass all three exams to earn the prestigious CFA charter. To plan your preparation effectively, keep track of the different CFA exam dates, including the specific CFA Level 3 exam date 2024.