CFA Level 1 Exam Dates 2026-2027: Registration, Schedule, Deadlines and Exam Day Details

CFA Level 1 Exam Dates 2026-2027: Registration, Schedule, Deadlines and Exam Day Details

The CFA Level 1 exam is the first step in the CFA Program. Candidates must plan their preparation around the official exam window. They must also track registration, scheduling, and rescheduling deadlines.

The CFA Institute conducts Level I four times each year. The current exam windows fall in February, May, August, and November. Candidates can select the window that fits their preparation timeline. They must register before the relevant registration deadline.

For 2026, the CFA Level I exam windows were scheduled in February, May, August, and November. The upcoming November 2026 exam window is scheduled from November 11 to November 17, 2026.

Candidates planning their attempt in 2027 can choose from February, May, August, and November windows. The February, May, and August 2027 dates are already published. CFA Institute has not yet published the November 2027 dates.

Knowing the exam date alone is not enough. Candidates must also understand the registration and scheduling deadlines. They should select their preferred test center as early as possible.

This page covers the CFA Level 1 exam dates and important deadlines. It also explains the exam pattern, topic weights, preparation timeline, and exam-day requirements. Candidates can use this information to build a practical study plan.

Important: Exam schedules can change. Candidates should verify the latest dates and deadlines on the official CFA Institute website before making final plans.

What Are the CFA Level 1 Exam Dates for 2026?

The CFA Institute offers Level I four times during 2026. The four exam windows are February, May, August, and November.

The first three 2026 windows have already passed. The November 2026 window is the remaining Level I exam window for the year.

The November 2026 CFA Level I exam will take place between November 11 and November 17, 2026. Candidates registered for this window must schedule a specific appointment within the available testing period.

The exam is computer-based. Candidates take the test at an approved computer-based testing center. The following table summarizes the 2026 Level I schedule.

The November 2026 registration deadline was August 11, 2026. The scheduling deadline was August 18, 2026. The rescheduling deadline is October 31, 2026. Candidates who already registered should check their candidate account. They should confirm their appointment details before the exam.

The CFA exam uses a testing window rather than one universal exam date. Therefore, two candidates may take the Level I exam on different dates within the same window.

This structure gives candidates some flexibility. However, available appointments depend on test-center capacity. CFA Institute recommends scheduling early to secure a preferred location and date.

When Is the Next CFA Level 1 Exam?

For candidates planning a new attempt after the 2026 November window, the next published Level I window is February 22–28, 2027.

The registration deadline for the February 2027 exam is November 5, 2026. Candidates must schedule their appointment by November 10, 2026.

The rescheduling deadline for this window is February 11, 2027.

The next two published windows are May and August 2027. The May exam will take place from May 11 to May 17. The August exam will take place from August 15 to August 22.

The November 2027 window is listed as coming soon. Candidates should wait for the official schedule before planning around an exact November date.

These dates give candidates several opportunities to plan their first attempt. However, candidates should not select a window only because it appears sooner. Preparation time matters. Candidates should choose an exam window that gives them enough time to complete the curriculum and practice questions.

The CFA Institute states that successful candidates report spending more than 300 hours preparing for each CFA exam level on average. The exact preparation time can vary by candidate.

Therefore, candidates should count backward from the chosen exam window. They should then create monthly, weekly, and daily study targets.

How Often Is the CFA Level 1 Exam Conducted?

The CFA Level I exam is conducted four times each year. The regular months are February, May, August, and November. This schedule gives candidates multiple opportunities to plan an attempt. It also allows candidates to choose an exam window based on academic, professional, or personal commitments.

However, frequent exam windows do not mean candidates should rush their preparation. Each attempt requires substantial coverage of the curriculum. Candidates should also understand that the exam window represents a period. It does not mean every candidate takes the exam on the same day.

After registration, candidates schedule their specific exam appointment. The appointment includes the selected test center, date, and time. CFA Institute recommends scheduling early. Test-center availability follows a first-come, first-served approach.

Candidates should therefore avoid waiting until the scheduling deadline. A late scheduling decision can limit their available choices.

The regular schedule also helps candidates plan a longer-term CFA journey. Candidates can compare their academic calendar and work commitments with the available exam windows.

For example, a university student may select a window that avoids major semester examinations. A working professional may select a period with fewer professional commitments.

The key is to treat the exam date as the endpoint of a study plan. Registration should come first, but preparation planning should begin immediately afterward.

What Are the CFA Level 1 Registration and Scheduling Deadlines?

The CFA Level I process involves several different dates. Candidates should understand each deadline before registering. The registration deadline determines when candidates can register for a particular exam window. The scheduling deadline determines when they must select their specific test appointment.

The rescheduling deadline applies when candidates need to change an existing appointment. Rescheduling normally means changing the appointment within the same exam window.

These deadlines serve different purposes. Candidates should not treat them as interchangeable.

Candidates should check every deadline after registration. They should also monitor their CFA Institute candidate account for updates. For example, a candidate targeting February 2027 must register by November 5, 2026. The candidate must then schedule the exam by November 10, 2026.

This creates only a short period between registration and scheduling deadlines. Candidates should therefore avoid waiting until the final days. The same principle applies to later windows. Candidates should record deadlines in a calendar or study planner.

How Do Candidates Schedule the CFA Level 1 Exam?

Candidates first need to register for the CFA Level I exam. After registration, they can schedule their exam appointment through their candidate account. The appointment process involves selecting an available test center and appointment time. Candidates should review available options before confirming their appointment.

CFA Institute recommends scheduling early. Test-center availability can change as other candidates select appointments. The exam is delivered through computer-based testing centers. Therefore, the exact appointment depends on local testing availability.

Candidates should consider travel time when selecting their center. They should avoid choosing a location without checking the route and expected travel time.

It is also useful to review the appointment details several days before the exam. Candidates should confirm the date, time, and test-center location.

A scheduling decision should also consider preparation readiness. Candidates should avoid assuming that the entire exam window is equally convenient. Once the appointment is confirmed, candidates should treat the date as fixed. They can then organize their final revision around the appointment.

How Much Time Should Candidates Allow for CFA Level 1 Preparation?

CFA Institute says successful candidates report spending more than 300 hours preparing for each level on average. However, preparation needs differ among candidates. A candidate with a finance or economics background may already understand some concepts. A candidate from another academic background may require more time.

The available study period also matters. A candidate with six months can spread the workload. A candidate with three months may need a more intensive schedule. A useful way to plan is to work backward from the exam date.

For a six-month plan, candidates can divide preparation into monthly phases. The first months can focus on learning. The middle months can combine learning and practice. The final month can focus heavily on revision and mocks. Candidates should also leave buffer time. Unexpected academic, professional, or personal commitments can disrupt a study schedule.

A rigid plan may become difficult to maintain. A weekly target can provide more flexibility. Candidates should track three things every week:

• Topics completed
• Questions attempted
• Topics requiring revision

This simple system can show whether preparation is progressing according to plan.

How Can Candidates Plan Their CFA Level 1 Preparation Around the Exam Date?

The exam date should act as the final milestone. Candidates should create smaller milestones before reaching it.

A six-month preparation plan can look like this:

The exact timeline can change based on individual circumstances. Candidates should adjust the plan according to their starting level. The first stage should prioritize understanding. Candidates should learn concepts before focusing heavily on speed.

The second stage should include increasing question practice. Candidates should begin identifying recurring errors. The third stage should emphasize exam-style practice. Timed questions can help candidates improve decision-making under pressure.

The final month should include mock exams. Candidates should analyze every mock rather than simply recording the score. A mock exam can reveal several issues. These may include weak concepts, calculation errors, poor time allocation, or careless reading. Candidates should use this information to adjust their final revision.

Why Is the CFA Level 1 Exam Date Important for Preparation?

The exam date determines the amount of preparation time available. It also determines when candidates should complete registration and scheduling. A candidate who registers early can create a longer preparation runway. A candidate who delays the decision may have less time to cover the curriculum.

The exam window also affects revision planning. Candidates need to know their exact appointment date before finalizing their last revision cycle. The date also matters for mock-exam scheduling. Candidates should gradually move from untimed practice to full timed sessions.

A clear date makes the preparation process measurable. Candidates can convert the remaining weeks into specific study targets. For example, a candidate with twelve weeks remaining can create weekly targets. A candidate with four weeks remaining should prioritize revision and practice rather than starting every topic from scratch.

This is why candidates should not view exam dates as administrative information. The dates form the foundation of the preparation strategy.

What Should Candidates Know About the CFA Level 1 Exam Day?

Candidates should prepare their documents and permitted equipment before the exam. CFA Institute states that candidates must bring a valid international travel passport.

Candidates should also bring an approved calculator. The approved models listed by CFA Institute are the Texas Instruments BA II Plus and Hewlett Packard 12C. Candidates should arrive at the test center at least 30 minutes before their scheduled appointment. Early arrival allows time for check-in and other test-center procedures.

CFA Institute also recommends practical preparation for the testing environment. Candidates can dress in layers for comfort and carry a clear water bottle where permitted.

The candidate should check the latest official instructions before exam day. Test-center procedures and permitted items can change.

Candidates should avoid relying on information from old preparation guides. Official CFA Institute instructions should take priority. A final exam-day checklist can include:

• Valid international travel passport
• Approved calculator
• Confirmed test-center details
• Appointment time
• Travel route
• Sufficient travel time
• Basic exam-day requirements

Candidates should also avoid trying to learn large amounts of new material on exam morning. A calm final review can be more useful than extensive last-minute study.

What Calculator Can Candidates Use in the CFA Level 1 Exam?

Candidates can use an approved financial calculator during the CFA Level I exam. CFA Institute lists two approved calculator models. These are:

• Texas Instruments BA II Plus
• Hewlett Packard 12C

Calculator familiarity can save valuable time during the exam. Candidates should practice using the calculator before attempting full mock exams. Important functions can include time-value-of-money calculations, statistical functions, and other calculations relevant to the curriculum.

Candidates should not wait until the final weeks to learn calculator functions. They should use the calculator throughout their preparation. This creates familiarity with the calculator's buttons and functions. It also reduces the risk of spending unnecessary time during the exam.

Candidates should check the latest calculator rules before the exam. They should not assume that another financial calculator is automatically permitted.

When Are CFA Level 1 Exam Results Released?

CFA Institute states that Level I results are typically available within five to seven weeks after the exam date. Candidates receive a pass or fail result. They also receive a performance summary by topic area.

The result timeline means candidates should not expect an immediate score after completing the exam. The processing period allows CFA Institute to complete the relevant result procedures.

Candidates can use the waiting period to plan their next steps. However, they should wait for the official result before making assumptions about their performance.

Candidates who pass can review their next CFA Program requirements. Candidates who do not pass can use the topic-level performance information to reassess their preparation.

The result timeline also matters when planning the next exam window. Candidates should understand when they can expect their result before selecting a subsequent attempt.

What Study Resources Are Available for CFA Level 1 Candidates?

Registered candidates have access to the CFA Program Learning Ecosystem. CFA Institute states that this ecosystem includes the digital curriculum, practice questions, mock exams, and study tools.

Candidates can use these resources throughout their preparation. The official curriculum should remain central to preparation. Candidates can supplement it with practice material and other study resources.

Practice questions are especially useful after completing each topic. They help candidates test whether they can apply concepts rather than simply recall them.

Mock exams become more useful during the later stages. They allow candidates to practice the timing and concentration required for the actual examination.

Candidates should also review their mistakes carefully. Simply completing a large number of questions does not guarantee effective preparation.

A useful review method is to categorize mistakes:

What Is the Practical Skills Module Requirement for CFA Level 1?

The CFA Program also includes a Practical Skills Module requirement. CFA Institute states that candidates must complete one PSM at each level to receive their exam result. Candidates should therefore not treat the PSM as an unrelated optional activity. It forms part of the requirements associated with each level.

The same module cannot be reused at multiple levels. Candidates must complete a different module at each level. Candidates should check the current CFA Institute requirements for available Level I PSM options. They should also monitor the completion requirement after registering.

Planning the PSM alongside exam preparation can help candidates avoid last-minute administrative issues. Candidates should keep track of both academic and program requirements. Completing the exam is one part of the process, while meeting the relevant program requirements is another.

How Can Candidates Make the Most of the Final Month Before CFA Level 1?

The final month should focus on revision and application. Candidates should avoid treating it as another first-learning phase. At this stage, candidates should have completed most of the curriculum. They should now focus on identifying weak areas.

A practical final-month plan can include:

• Week 1: Review weaker topics and formulas.
• Week 2: Complete timed topic tests.
• Week 3: Attempt full-length mock exams.
• Week 4: Review mistakes and revise key concepts.

Candidates should not spend every day attempting full mocks. Mock exams are useful when followed by detailed analysis.

After each mock, candidates should identify why they missed each question. They should determine whether the problem involved knowledge, calculation, interpretation, or time management.

Candidates should also maintain a concise formula and concept revision list. This list can support final review. The final week should emphasize confidence through familiarity. Candidates should know the exam structure, calculator, timing, and test-center arrangements.

What Should Candidates Do One Week Before the CFA Level 1 Exam?

One week before the exam, candidates should shift toward targeted revision. They should avoid major changes to their preparation strategy. The focus should remain on high-frequency mistakes and important formulas. Candidates can also review concepts that repeatedly cause confusion.

They should confirm the exam appointment. They should also verify the test-center location and travel route.

Calculator preparation should continue. Candidates should use their approved calculator during practice rather than switching between devices.

Candidates should also protect their sleep schedule. The exam requires sustained concentration across two sessions. The day before the exam should not become an extended study marathon. Candidates should complete their preparation early and focus on being ready for the appointment.

A simple checklist can help:

• Confirm appointment
• Check passport
• Check approved calculator
• Review travel route
• Prepare permitted items
• Review key formulas
• Sleep adequately

How Can Candidates Manage Time During the CFA Level 1 Exam?

The CFA Level I exam gives candidates 135 minutes for each 90-question session. This means candidates have approximately 90 seconds per question on average. Not every question will require the same amount of time. Some questions may involve calculations, while others may test definitions or concepts.

Candidates should therefore avoid spending excessive time on one difficult question. A useful practice strategy is to simulate the official timing. Candidates should attempt 90 questions within 135 minutes during mock sessions.

This helps candidates identify their natural pace. It also shows whether certain topics consume too much time. Candidates should read question qualifiers carefully. Words such as "most likely" and "least likely" can change what the question asks.

Since there is no penalty for incorrect answers, candidates should answer every question. Time management should become part of preparation. It should not be something candidates try for the first time during the actual exam.

What Common Mistakes Should Candidates Avoid When Planning CFA Level 1 Exam Dates?

One common mistake is choosing an exam window without considering preparation time. Candidates should first estimate their available weekly study hours. Another mistake is ignoring the scheduling deadline. Registration and scheduling are separate steps.

Candidates may also delay selecting a test appointment. This can reduce their choice of available locations and times. Another issue is starting preparation too late. Candidates should account for the breadth of the curriculum and the need for repeated practice. Candidates should also avoid relying entirely on topic weightage. A lower-weight topic can still appear in the exam.

Another common mistake is leaving mock exams until the final few days. Candidates need time to analyze and correct their weaknesses. Finally, candidates should avoid using outdated exam information. CFA Program requirements and curriculum details can change.

How Can Candidates Choose the Right CFA Level 1 Exam Window?

Candidates can consider three main factors. The first is preparation time. Candidates should choose a window that provides enough time to study the curriculum and complete practice.

The second is personal availability. Candidates should consider university exams, work commitments, travel, and other major obligations. The third is revision time. Candidates should leave enough time between curriculum completion and the exam.

A candidate should not choose a window simply because it is the earliest available option. The better approach is to match the window with a realistic preparation schedule.

Candidates can compare the available windows using this framework:

What Is the Best Way to Track CFA Level 1 Exam Dates and Deadlines?

Candidates should maintain one central deadline tracker. It can contain registration, scheduling, rescheduling, exam, and result dates. A digital calendar can provide automatic reminders. Candidates can also maintain a spreadsheet or study planner.

The tracker should include at least these fields:

Candidates should update the tracker whenever CFA Institute publishes a change. They should also check their candidate account regularly after registration.

A deadline tracker is particularly useful because the CFA exam uses multiple windows. Candidates planning future attempts can also use it to compare preparation timelines.

What Should Candidates Remember About CFA Level 1 Exam Dates?

The CFA Level I exam follows a regular four-window schedule. Candidates can generally choose from February, May, August, and November. However, the exam window is only one part of the schedule. Registration, scheduling, and rescheduling deadlines also require attention.

For 2026, the remaining Level I window is November 11–17. Candidates planning a new attempt can also consider the published 2027 windows. The February 2027 window runs from February 22–28. The May 2027 window runs from May 11–17. The August 2027 window runs from August 15–22.

The November 2027 dates are yet to be announced. Candidates should choose an exam window that matches their preparation timeline. They should then build a structured study plan around the selected date.

The CFA Level I exam contains 180 multiple-choice questions. Candidates complete two 135-minute sessions with 90 questions each. The curriculum covers ten major topic areas. Candidates should understand the topic weights while continuing to prepare across the complete curriculum.

Preparation should include concept learning, practice questions, revision, and mock exams. Candidates should also become comfortable with the approved calculator before exam day.