CFA Level 1 exam fees explained

This guide explains what you pay CFA Institute to sit the Level I exam, how your registration date affects the exam fee, and which preparation costs to plan for. Fee amounts change, so they are not quoted here: check the CFA Institute dates and fees page for current figures before you register.

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Check current Level I fees on the CFA Institute dates and fees page

Which fees does CFA Institute charge?

CFA Institute charges an exam registration fee for each exam you sit, priced in US dollars. What you pay depends on your exam window and on when you register for it: registering by the early deadline costs less than registering by the later standard deadline.

First-time candidates used to pay a one-time program enrollment fee as well. CFA Institute no longer lists that fee for exams from February 2026, but confirm which charges apply to your window on its dates and fees page before you pay.

How the registration deadline changes what you pay

Each exam window has an early registration deadline and a later standard deadline. The early fee is lower, so choosing your window in good time and registering before its early deadline is the simplest way to reduce the exam fee.

Only pay early for a window your study plan can realistically meet. A later window booked at the early fee can be better value than a rushed sitting at the standard fee. Registration and appointment scheduling are separate steps: after registering, book your test appointment through CFA Institute before the scheduling deadline. Dates for the coming windows are in our Level 1 exam dates guide.

Retakes and rescheduling

Each sitting is a new registration, so a retake is charged again at the fee for the window and deadline you choose. CFA Institute also limits how often and how soon you can attempt an exam, so check its current rules before you plan a retake.

Moving an appointment within your window carries a rescheduling fee, and a missed appointment loses the fee. Because a second attempt means paying again, it is worth checking your readiness with timed practice before exam day rather than after it.

Study-material costs to budget for

CFA Institute includes its curriculum learning materials and official practice questions and mock exams for registered candidates. Everything else is optional, so budget only for what you will actually use.

A simple way to plan your exam budget

  1. Pick your exam window and note its early and standard registration deadlines on the CFA Institute dates and fees page.
  2. Write down the exam fee for the deadline you can realistically meet.
  3. Add an allowance for a possible reschedule if your work or travel plans are uncertain.
  4. Add the preparation costs you will actually use, such as a calculator or extra practice.
  5. Decide in advance how you would handle a retake, since it is charged as a new registration.

Check your readiness before you commit to a window

Take free Mock Exam 1 to see where you stand: a timed 90-question session with an instant score, using the same computer-based tools as the rest of our Mock Exams. If you decide to keep practising, compare lifetime and monthly access. For the full figures and deadlines checked against CFA Institute, read our CFA Level 1 registration fee breakdown.

Frequently asked questions

How much are the CFA Level 1 exam fees?

It depends on your exam window and on whether you register by the early or the standard deadline. CFA Institute publishes current fees in US dollars on its dates and fees page; check there before you register.

Is there still a CFA Program enrollment fee?

CFA Institute no longer lists a separate one-time enrollment fee for exams from February 2026. Confirm the charges for your window on its dates and fees page.

Do I pay again if I retake Level 1?

Yes. Each sitting is a new registration, charged at the fee for the window and deadline you choose.

Can I get a refund if I miss my exam appointment?

CFA Institute says fees for missed exam appointments are nonrefundable, non-deferrable and non-transferable, so register for a window you can realistically prepare for.

Are study materials included in the exam fee?

CFA Institute includes its curriculum learning materials and official practice for registered candidates. Third-party courses, question banks and extra Mock Exams are optional costs.

Does CFA Mock Exam collect CFA Institute fees?

No. Exam fees are paid only to CFA Institute. CFA Mock Exam is independent practice software and is not affiliated with CFA Institute.

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