NISM study notes. Updated Jul 2026, 8-minute read.

CFA Exam Dates & Windows 2026

The CFA exams no longer happen on a single global date. Since moving to computer-based testing, each level runs in one or more windows spread across the year, and the windows differ by level. This guide explains the 2026 window structure, how Prometric scheduling works, how registration deadlines are tiered and — most importantly — where to confirm the exact dates before you plan.

Key takeaways

CFA exams are computer-based and offered in windows rather than on a single annual date.
Level I typically runs around four windows a year, commonly in February, May, August and November.
Levels II and III run fewer windows; patterns shift yearly, so exact months must be confirmed.
After registering, you must schedule an appointment at a Prometric test centre within your chosen window.
Registration usually opens with tiered deadlines, where earlier registration means lower fees.
A valid international passport is mandatory as identification on exam day.

How CFA exam windows work now

The CFA Program moved to computer-based testing, and with it the old idea of one worldwide exam day disappeared. Each level is now offered in windows — multi-day periods during which you sit the exam at a test centre on an appointment you schedule. The number and timing of windows differ by level, which is the single most important thing to understand when planning.

Because the Institute adjusts the calendar year to year, treat every date below as indicative and confirm the exact 2026 windows on cfainstitute.org before you register or build a study plan around them.

Level I windows

Level I is offered most frequently — typically around four windows a year, commonly falling in February, May, August and November. This frequency gives new candidates flexibility to pick a window that suits their study timeline and to re-sit relatively soon if needed. For a full breakdown of what to expect on the day, see our Level 1 guide and the CFA exam pattern.

Level II and Level III windows

Levels II and III run fewer windows than Level I. As a rough historical pattern, Level II has appeared in windows such as May, August and November, while Level III has appeared in windows such as February and August. These patterns have shifted over recent years, so do not lock in a plan based on them.

The practical consequence is that the higher levels give you fewer chances per year. If you fail a sitting or miss a window, the wait to the next opportunity can be several months, which makes preparation timing more consequential the further you progress through the three levels.

Scheduling your appointment with Prometric

Registering for an exam is only the first step. After you register and pay, you must schedule an appointment at an authorised Prometric test centre within your window. Seats at popular centres and dates fill up, so scheduling early gives you the best choice of location and time. In India, test centres are available in major cities, but availability still varies by window.

On exam day, a valid international passport is the mandatory form of identification. No other document is accepted, so ensure your passport is current well before your appointment — renewing one can take weeks.

Registration deadlines and fees

Registration for each window opens months in advance and typically uses tiered deadlines. The earlier you register, the lower the exam fee; miss the early deadline and you pay a higher standard fee. There is also a one-time enrolment fee when you first join the programme. Because these amounts change and are quoted in US dollars, see our dedicated CFA exam fees guide and confirm current figures on cfainstitute.org.

Planning backwards from your window

With roughly 300 hours of study recommended per level, the smart approach is to pick a target window and count backwards. A rough planning template:

Choose a target window that leaves you five to six months of realistic study time.
Register early to secure the lowest fee tier.
Schedule your Prometric appointment as soon as scheduling opens, to lock in a convenient centre.
Confirm your passport is valid through your exam date.
Build a study calendar backwards from the window — our preparation guide shows how.

Above all, verify the specific 2026 dates directly with the CFA Institute. Windows, deadlines and centre availability are the details most likely to change, and a plan built on last year's calendar can quietly go wrong.

Frequently asked questions

How many times a year is the CFA exam held?

It varies by level. Level I typically runs around four windows a year (commonly February, May, August and November), while Levels II and III run fewer windows. Always confirm exact 2026 windows on cfainstitute.org.

Can I choose my exact CFA exam date within a window?

Yes. After registering you schedule an appointment at a Prometric test centre within your chosen window. Seats fill up, so scheduling early gives you the best choice of date and location.

What ID do I need for the CFA exam?

A valid international passport is the mandatory identification for all CFA exams. No other document is accepted, so make sure your passport is current well before your appointment.

When should I register to pay the lowest CFA fee?

Registration uses tiered deadlines, so registering early secures the lowest exam fee. Fees rise as later deadlines pass. Check the current fee tiers and dates on cfainstitute.org before you register.

Written by Arpan Das.

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