CFA Institute today announces pricing changes for its CFA® Program
Charlottesville, VA, 18 December -- CFA Institute, the global association of investment professionals, today announces pricing changes for its flagship CFA® Program for exams to be administrated in February 2026 and beyond.
Beginning on 29 April 2025, CFA Institute will eliminate the one-time, $350 enrollment fee for the CFA Program. This will help to improve access and affordability for candidates of the CFA Program at the outset of enrolling.
The following price changes will take effect on 29 April 2025 (all prices in US dollars).
| 2025 CFA Program pricing | 2026 CFA Program pricing | |
| New Level I enrollment fee | USD 350 | USD 0 |
| Level I early-bird Level I standard |
USD 990 USD 1,290 |
USD 1,140 USD 1,490 |
| Level II early-bird Level II standard |
USD 990 USD 1,290 |
USD 1,140 USD 1,490 |
| Level III early-bird Level III standard |
USD 1,090 USD 1,390 |
USD 1,240 USD 1,590 |
The price increases partially reflect the extensive suite of CFA Program enhancements announced back in March 2023, which include new Practical Skills Modules and a choice of specialized pathways for Level III candidates in Private Markets and Private Wealth, which will be tested for the first time in 2025. CFA Institute also regularly reviews its pricing with respect to inflation and other economic conditions.
The new pricing will be in effect for CFA Program exams seated in February 2026 and beyond; enrollment for that exam window begins on 29 April 2025. Pricing for CFA Exams to be seated prior to February 2026 will remain the same.
About CFA Institute
As the global association of investment professionals, CFA Institute sets the standard for professional excellence and credentials. We champion ethical behavior in investment markets and serve as the leading source of learning and research for the investment industry. We believe in fostering an environment where investors’ interests come first, markets function at their best, and economies grow. With more than 200,000 charterholders worldwide across 160 markets, CFA Institute has 10 offices and 160 local societies. Find us at www.cfainstitute.org or follow us on LinkedIn and X at @CFAInstitute.