FAQ for CFA Program Candidates

For detail answers, please go to CFA Institute Website

CFA Program: General

Where can I find information about the CFA Program?

Please see the CFA Program area or submit a request for printed materials.

What are the requirements for entering the CFA Program?
Please see the requirements page.

Is there a time limit for candidates to complete all three levels of exam in the CFA Program?

No. CFA Institute does not require candidates to complete the CFA Program within a specified time frame. Nor does CFA Institute limit the number of times candidates may sit for each exam level or require candidates to repeat an exam level that they already have passed, regardless of the time elapsed between exams.

If it has been several years since I enrolled in the CFA Program. Will I have to pay the enrollment fee again?
No. Applicants pay an initial enrollment fee upon entering the CFA Program. Returning candidates pay only the registration fee for each exam taken.

Where can I view past exams?
Many actual exam questions are embedded in the curriculum and included in the online sample and mock exams. We do, however, take great care to eliminate past questions that are no longer consistent with the current curriculum and question-formatting conventions.

Why doesn’t CFA Institute offer the exam in languages other than English?
In order to ensure fair, global consistency both in administering the exam questions and grading candidate responses, CFA Institute offers the exams only in one language rather than allowing any translations.

May my employer verify the status of my application?
CFA Institute may only verify for an employer the receipt of any recent payments they have made on your behalf. All other information is confidential. Candidates must contact CFA Institute directly for further assistance.

If I pass the Level I exam in December, can I register for the Level II exam held the following June?
Yes, candidates who pass Level I in December can register for the Level II exam held the following June.

Candidates: Enrollment/Registration

Can you help me to determine if my degree is comparable to a U.S. bachelor's degree?

Generally, applicants must have reached a level of study that qualifies them for acceptance to university graduate programs in the countries where they earned their undergraduate degrees. If you need assistance to determine whether or not your degree is comparable to a U.S. bachelor’s degree, CFA Institute suggests that you contact your college or university to make an inquiry.

I am scheduled to take the CFA exam in Boston, Massachusetts; however, I have just relocated to Hong Kong. Can I take the exam in Hong Kong, and what must I do to change my test center?

Yes, you may submit a test center change request. Find out how.

How do I change my test center?

Follow these instructions. CFA Institute will grant such requests if space is available.

I just moved and sent in my address change form. Will you automatically change my test center?
No. Changing your address and changing your test center are two separate processes. You can submit a change of mailing address at any time. Candidates who want to change test centers for the CFA exams must follow these instructions.

If I withdraw from the December Level I exam, do I have to wait until the forms have been processed and confirmed before I re-register for the June exam?

No. Candidates may submit a paper re-registration application for the June exam at the same time they submit their request to withdraw from the December exam, but they cannot re-register online until their withdrawal is processed. However, please note that registration fees cannot be refunded or transferred from one exam to the next. You will need to pay another registration fee at the time of your re-registration.

If I request an exam score retabulation, should I wait to receive the retabulation result before re-registering?

No. We strongly encourage you to re-register at the earlier (and less expensive) deadline.

I am not able to sit for the exam. Can I request a refund or transfer my registration to the next exam?

No. Once you submit your application for the CFA Program, your enrollment and registration fees are nonrefundable. Also, enrollment and registration fees may not be transferred from one applicant/candidate to another applicant/candidate, or from one exam offering to another.

How long does it take to process my enrollment and registration application?

Online applications are processed within 48 hours. Paper applications may take up to six to eight weeks. With either method, you will be notified of your status.

May I withdraw my registration in the Level I exam?

Yes. View complete information on withdrawal options. If you would like to re-register for the Level I exam, fax the appropriate registration form along with your withdrawal request to +1 (434) 951-5686. Deadline information is available on the withdrawal request form.

I am a U.S. veteran. Can I be reimbursed for CFA Program fees?

Yes. You pay CFA Program fees up front and we provide you with documentation to submit to the U.S. Department of Veterans Affairs for reimbursement.