In this article, we will be looking at HOW TO BOOK CFA Exam. The Chartered Financial Analyst program is a postgraduate professional certification offered to investment and financial professionals worldwide by the American-based CFA Institute.
Due to social distancing requirements around the globe, we are experiencing capacity constraints in several test areas for upcoming exams. Please check our CFA Exam Updates page for the most current information to aid your registration process.
Residents of certain countries are not able to register for the CFA exam. Review the Office of Foreign Assets Control (OFAC) Policy to check whether there are any sanctions on your country.
CFA Institute reserves the right to prematurely close registration and scheduling dates as conditions warrant.
2025/2026 CFA Exam Information
Get the latest information on what’s new about this year’s CFA exam.
Exam Registration, Scheduling, and Deferrals
Learn More About Computer-Based Exams
Charting your Journey through the CFA Program (PDF)
Exams That Evolve in Complexity
Each level of the curriculum builds on the prior level and becomes increasingly complex. The chart below explains the differences between each exam so you can prepare accordingly.
| LEVEL I | LEVEL II | LEVEL III | |
|---|---|---|---|
| LEVEL REQUIREMENT | Meet CFA Program enrollment requirements | Pass Level I CFA exam | Pass Level II CFA exam |
| QUESTION FORMAT | Multiple choice questions | Vignette-supported multiple choice questions | Vignette-supported essay questions and vignette-supported multiple choice questions |
| EXAM RESULTS AVAILABILITY | Within 60 days of taking the exam | Within 60 days of taking the exam | Within 90 days of taking the exam |
| 10 YEAR AVERAGE PASS RATE | 42% | 45% | 54% |
| DETAILS | View Quick Start Guide for Level I View Level I Details | View Quick Start Guide for Level II View Level II Details | View Quick Start Guide for Level IIIView Level III Details |
CFA Program Costs
Registration costs vary depending on when you decide to register for the exam. Please note, there is a one-time enrollment fee of USD 450 the first time you register for the Level I exam. Take care when scheduling your computer-based exam appointment, as there is a USD 250 rescheduling fee if you wish to reschedule your exam appointment in your exam window.*
All fees shown are net of any local VAT, Goods and Services Tax (GST) or any other sales tax payable by the candidate in their country of residence. Where CFA® Institute is required to add sales tax at the local statutory rate, this will be added to the fees shown during the payment/checkout process.
For information about taxability related to online purchases from CFA Institute, please visit our Tax Policy page.
*We recognize that in some locations, the uncertainty surrounding COVID-19 is making it difficult to finalize exam schedules, navigate travel restrictions, and secure seating in your preferred location. To help alleviate these inconveniences, we have reduced the USD 250 fee for exam changes to USD 25 for all exams in 2025/2026.
$450 One-Time Enrollment Fee
There is a one-time enrollment fee when you register for CFA Program and the Level I exam. This fee will not be applied to subsequent exams. All fees must be paid in US dollars. For more information on enrollment fees and payment options, visit our policies page.
Did You Know : Top 15 Free Online Learning Platforms
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Free Online Education Degrees : Coursera:
Coursera partners with universities and organizations worldwide to offer a wide range of courses. While many courses are free, a fee is often required for certification.
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Free Online Education Degrees: edX:
Founded by MIT and Harvard, edX offers high-quality courses from top universities and institutions around the world. Certificates are available for a fee.
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Free Online Education Degrees : Khan Academy:
Khan Academy provides free educational content in various subjects, especially mathematics and science, using instructional videos and practice exercises.
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Free Online Education Degrees : Udacity:
Udacity focuses on tech-related courses and nanodegree programs, offering free content as well as more in-depth paid programs.
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Free Online Education Degrees : MIT OpenCourseWare (OCW):
MIT OCW provides a vast array of MIT's course content for free, covering a wide range of disciplines.
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Free Online Education Degrees : Harvard Extension School:
Harvard Extension School offers a selection of free online courses. While some courses are free, others may require payment for a certificate.
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Free Online Education Degrees: Stanford Online:
Stanford Online offers a variety of free courses in different disciplines, including computer science, engineering, and business.
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Best Free Online Courses : Carnegie Mellon Open Learning Initiative (OLI):
OLI offers free online courses and resources designed to improve learning outcomes through research-based methodologies.
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Best Free Online Courses : FutureLearn:
FutureLearn partners with universities and institutions to offer a diverse range of free online courses. Certificates are available for a fee.
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Alison offers a wide range of free online courses, including diploma and certificate programs, covering various subjects.
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Yale University provides free access to a selection of introductory courses through Open Yale Courses.
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Best Free Online Courses : UC Berkeley Online:
UC Berkeley offers free online courses on a variety of subjects, ranging from computer science to humanities.
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Best Free Online Courses : Google Digital Garage:
Google Digital Garage provides free courses on digital skills, including online marketing, data analysis, and more.
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Best Free Online Courses : Codecademy:
Codecademy offers free coding courses, interactive exercises, and coding projects to help individuals learn programming languages.
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Best Free Online Courses : LinkedIn Learning (formerly Lynda.com):
LinkedIn Learning provides a variety of video courses on professional development, technology, and creative skills. It offers a free trial period.
Did you know : International Scholarships 2024
There are several international scholarships available for South Africans to study abroad. Here are a few examples:
- Mastercard Foundation Scholarship Program: This program provides fully funded scholarships to study at selected universities in Africa, Europe, and North America. It is open to African students, including South Africans, who are committed to giving back to their communities.
- Commonwealth Scholarships: The Commonwealth Scholarship Commission offers scholarships for postgraduate study in the UK for citizens of Commonwealth countries, including South Africa. The scholarships cover tuition fees, travel costs, and a living allowance.
- Fulbright Foreign Student Program: The Fulbright program offers scholarships for South Africans to study at U.S. universities for a Master’s or PhD degree. The scholarship covers tuition, travel, living expenses, and health insurance.
- Erasmus+ Programme: The Erasmus+ programme offers scholarships for South Africans to study in Europe for a Master’s or PhD degree. The scholarship covers tuition fees, travel, and living expenses.
- Australia Awards Scholarships: The Australian government offers scholarships for South Africans to study at Australian universities. The scholarship covers tuition fees, travel costs, and a living allowance.
These are just a few examples of the many international scholarships available to South Africans. It is important to research the eligibility requirements and application deadlines for each scholarship program.