In every industry that requires certifications, exam dates can shift from year to year for a variety of reasons. However, it is always up to the student to know when that happens. After all, you won’t be able to get certified if you don’t show up on exam day.
Since a CFA® (Chartered Financial Analyst) is a globally-recognized designation given to financial professionals, failing the CFA® exam is not an option. Much like a doctor or lawyer, you cannot practice without the required merits. And more importantly, you can’t earn the required merits without knowing the 2026 CFA® exam dates.
Key Takeaways
- Testing Windows, Not One Day: CFA exams run in multi-day windows, and you schedule your exact appointment within that window.
- Multiple Chances Each Year: Level I typically offers the most testing windows, while Levels II and III have fewer options.
- Register Early to Save Money: Standard registration fees vary by timing, so earlier registration usually costs less.
- Know the Exam Structure: Each level has a different format (multiple choice, vignettes, and Level III written responses), so planning matters.
- Rescheduling Has Rules: You can usually reschedule within a window, but switching windows typically requires a formal deferral process.
What are the CFA Exam Dates for 2026?
| Level I Exam Dates | Level II Exam Dates | Level III Exam Dates |
|---|---|---|
| February 2-8 | May 19-23 | January 29-February 1 |
| May 12-28 | August 25-29 | August 13-17 |
| August 18-24 | November 18-22 | x |
| November 11-17 | x | x |
About the 2026 CFA® Exam
The CFA Institute (formerly known as the Association for Investment Management and Research) is the organization responsible for measuring the integrity of financial analysts. Consequently, it’s their job to certify your competency in the field through the CFA® exam.
In order to demonstrate your mastery of the subject matter to the institute and to future clients, the CFA Institute requires all candidates for certification to pass three levels of the exam. People typically report investing over 300 hours of study time to successfully pass each level of the exam, so you’re going to want to start studying for them as early as possible.
CFA® Exam Dates 2026
Here is the 2026 schedule for the Chartered Financial Analyst exam with all three levels:
CFA® Level 1 Exam Dates
Every year, you have a few opportunities to take the CFA® Level I Exam. In 2026, it’s administered in February, May, August, and November.
The CFA® Level 1 Exam dates include:
- February 2-8
- May 12-28
- August 18-24
- November 11-17
Here’s a quick tip if you’re trying to save money: standard registration fees will vary depending on when you register for the exam. The sooner you sign up, the cheaper it is!
CFA® Level 1 Exam Structure
The CFA® Exam Level 1 consists of 240 multiple-choice questions in two separate sessions: 120 questions in the morning and 120 questions in the afternoon. The format is multiple-choice, and exam results are given within 60 days of testing. In order to qualify for this exam, candidates must meet the CFA® program enrollment requirements.
The average pass rate for this exam is 43%, making it one of the hardest tests in professional finance and accounting. Hence, you’re going to want to study hard in order to pass.
CFA® Level 2 Exam Dates
The dates for the CFA® Level 2 Exam are:
- May 19-23
- August 25-29
- November 18-22
CFA® Level 2 Exam Structure
The CFA® Exam Level 2 Exam consists of 20-30 vignettes supporting 120 multiple-choice questions. There are morning and evening sessions that are each three hours long. Each session has 10-15 vignettes supported by 60 multiple-choice questions. Results are released within 60 days of taking the exam. In order to qualify, students must pass the CFA® Level 1 Exam first.
The average pass rate for this exam is 45%, which is even lower than Level I. Keep that in mind when studying!
CFA® Level 3 Exam Dates
The dates for the CFA® Level 3 Exam are:
- January 29-February 1
- August 13-17
CFA® Level 3 Exam Structure
The CFA® Exam Level 3 Exam consists of 20-30 vignettes supporting a variety of constructed responses and multiple-choice questions. There are two sessions — one in the morning and one in the evening — that last for 3 hours each.
The morning session has 8-15 vignettes supporting constructed response questions. The afternoon session is a little different, with 10-15 vignettes supporting 60 multiple-choice questions. Results are released within 90 days of passing the exam, and students must pass the CFA® Level 2 Exam first in order to qualify.
The average pass rate for this exam is 56%, which is much higher than the previous two. That being said, it’s still going to be a tough test, so be sure you study hard!
Why Are There Separate 2026 CFA® Exam Dates?
The CFA® is dedicated to maintaining exam dates that work for people across the globe. Additionally, this is being done to honor religious needs. That’s why you can reschedule your exam days to a Sunday or Monday by filling out the proper forms in the appropriate time period.
Although this is an allowance for the purpose of religious freedom, the CFA® reminds candidates that they must abide by the CFA® Program Candidate Agreement and testing policies/rules. In other words, the religious rescheduling policy is not meant to be used for anything other than religion. You could have your exam results dismissed if the dates are misused, so be mindful of the rules.
Get Discounts On CFA® Review Courses Before Your Exam Date
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Want to make sure you buy the right course…the first time? Compare the best CFA® study materials in my guide. Give yourself plenty of time to study, meet all the requirements, and you’ll be on your way to becoming a CFA®.
FAQs
CFA exams are offered in testing windows (not one single day). You pick your level and window, then schedule an appointment within that window at a local test center.
Register early, then schedule your exact appointment as soon as scheduling opens. Test centers have limited seats, and popular days fill up.
Yes. After you register, you’ll choose a test center and an available appointment date/time within your exam window (availability varies by city). This scheduling step happens through CFA Institute/Prometric.
If you just need to move your appointment within the same exam window, you can typically reschedule through your CFA Institute account (“Manage your Exam”), but there’s usually a rescheduling fee, and it’s subject to seat availability.
That’s usually a deferral, not a simple reschedule. The CFA Institute has specific deferral rules and deadlines, and you generally can’t just “slide” into a different window without using the deferral process.
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