Exam Info

Candidates must complete the three levels of CFA® examinations sequentially. Candidates who fail an examination must repeat that level until they pass. The Level I and II examinations are composed of multiple choice questions. Level III consist of essays and multiple choice questions. Level I is offered in June and December. Levels II & III are offered only in June.

Candidates may enroll for only one examination at a time. Candidates must wait to receive their examination results before enrolling for the next examination, since the results will determine whether a candidate must repeat the current level or advance to the next level. It can take as little as 2 years to get through the program, but on average it takes about four years.

Visit the CFA Institute website for more information on the CFA Program.

CFA June 2012 Exam Schedule (Levels I, II, and III)

Late July 2011	June 2012 exam registration opens
Upon exam registration	Sample exams become available when candidate registers for the exam
September 21, 2011	First fee schedule deadline for the June 2012 exam
February 2012	Exam scholarship application deadline
February 15, 2012	Second fee schedule deadline for June 2012 exam
March 2012	Mock exams become available
March 14, 2012	Final deadline to register the for June 2012 exam
March 19, 2012	Final deadline for disability and religious alternate date accommodations requests to be received by CFA Institute
April 13, 2012	Test center change request deadline (login required)
May 2012	Exam admission tickets available online
June 2–3, 2012	Exam days
June–July 2012	Exams graded
July–August	Exam results available

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