CFA Level I registration and dates

Announced Level I windows and deadlines

CFA Institute offers Level I each quarter, in February, May, August, and November. The actual testing period and registration dates vary by administration. The table lists announced options for 2026 and early 2027. The general CFA exam period may cover more days than the Level I appointments within it, so use the Level I window shown in registration when choosing your administration.

CFA Institute states that registration windows open at 9:00 a.m. Eastern Time and close at 11:59 p.m. Eastern Time on the published deadline. The exact time zone matters if you are registering from another country. Do not plan to finish a form or payment just before midnight in your local time.

The exam dates and fees tool identifies specific windows by level, displays each registration window, and shows the relevant fee. The exam registration store currently lists November 2026, February 2027, and May 2027 as Level I choices. No August or November 2027 Level I dates are stated here because those details are not yet confirmed in the listed official registration options.

Registration is not the same as an appointment

CFA Level I registration has two stages. First, you register for the examination through your CFA Institute account and pay the applicable registration fee. After that transaction is processed, the exam scheduling link takes you to Prometric. There you choose an available test center, date, and time within the selected examination window.

These are different actions with different consequences. Paying for a window does not itself reserve a seat at a particular center. You are not fully scheduled until the Prometric appointment is confirmed. An exam window is a range of days during which the level is administered; it is not a promise that a particular city or time will be available.

CFA Institute says appointments are first come, first served, and availability varies by market. If you need a particular location, morning or afternoon appointment, or date near the start or end of a window, schedule after registration opens for appointment selection rather than waiting until the deadline. This describes the booking process, not an assurance that any specific appointment will exist.

After scheduling, save the Prometric confirmation and verify the location, local appointment time, and date in your CFA Institute account. A calendar reminder based only on the exam window can be misleading because your personal test appointment is one date and time within that window.

The appointment is the operational detail that matters on exam day. Two candidates registered for the same window may sit on different dates or at different centers. The public window describes when that exam administration runs; your confirmation identifies where and when you personally must arrive. Keep the time zone visible when adding an international appointment to a calendar.

A practical registration sequence

1. Choose an intended Level I window and confirm that you satisfy the current eligibility rules for registration. Check that the window fits your preparation time and progression schedule.
2. Sign in to your CFA Institute account, complete the exam registration, and pay the fee applicable to your selected window and registration period. Registration is complete only after the required information and payment are processed.
3. Open the Prometric scheduling step from your candidate account. Select an available test center and appointment within the chosen exam window, then submit and save the confirmation.
4. Add the appointment to your calendar using the confirmed local date and time. Keep the confirmation accessible and read the current admission and identification instructions before exam day.
5. Complete at least one Level I Practical Skills Module and submit it before results are released. It does not replace exam registration, and it does not affect the Prometric appointment.

If the registration fee is paid but you do not schedule by the appointment deadline, you should not assume the system will hold a place for you. CFA Institute's registration guide says the candidate must schedule by the deadline. If you are unsure whether the appointment was confirmed, look for the completed appointment in the account and the Prometric confirmation rather than relying on the registration receipt.

How the 2027 registration deadlines work

For February 2027, the early registration deadline passed on July 7, 2026. The standard registration deadline is November 5, 2026. Candidates selecting the February 2027 window need to complete registration by the standard deadline if they did not register earlier. The exam appointment then has its own scheduling deadline, which is shown for that administration in the CFA Institute calendar.

For May 2027, the early registration deadline is October 14, 2026, followed by the standard deadline on February 10, 2027. The early deadline is close to the article's update date. Someone deciding between February and May should compare actual available study time rather than choosing the earlier period solely to meet a lower registration tier.

The registration deadline and appointment scheduling deadline do not mean the same thing. The registration deadline closes the opportunity to purchase that exam administration. The appointment deadline closes the opportunity to choose a Prometric date and time after registering. CFA Institute says scheduling deadlines are typically about 60 days before the exam window begins, but the exact deadline is published separately for each sitting.

This difference affects planning. A candidate who registers well before the deadline but leaves scheduling until the last day may have fewer appointment choices. A candidate who has selected a window but misses the registration deadline cannot use the appointment step to gain entry to that administration.

The schedule deadline is not automatically the last date printed in the exam window. CFA Institute generally sets the appointment deadline well before testing begins so Prometric can finalize rosters and centers. Therefore, work from the administration's published registration and scheduling dates, not from a guess based on the last exam day.

If the window you intended is already closed, do not pay for a different period until you have compared its preparation runway and eligible attempt spacing. The next window may be a reasonable alternative, but the right choice depends on your study progress and personal calendar. A rushed choice can create a second registration problem if you later try to move it.

What if you need to change your appointment

Changing the Prometric appointment within the same exam window is a reschedule, not a move to a later exam window. CFA Institute lists a USD 250 rescheduling fee for an appointment change within the window. The change also depends on an appointment being available.

Starting with 2027 exam administrations, CFA Institute no longer offers the paid deferral option. A candidate who chooses not to sit for a 2027 exam forfeits the registration fee and must register and pay again for a later available administration, unless the candidate meets the separate conditions for an emergency deferral. The emergency route has its own qualifying circumstances, deadline, and processing rules.

For a missed appointment, the rule is especially costly: the Institute says the fee is nonrefundable, nondeferrable, and nontransferable. If you miss the date and need another appointment in the same window, contact Prometric promptly to ask whether a slot is available and pay the rescheduling fee if the change can be made. If no appointment is available, the exam fee is forfeited.

Read the policy attached to your administration before making plans around a deferral. A 2026 candidate and a 2027 candidate may be covered by different paid-deferral rules, even if both are asking to move to a later sitting. Do not assume that a prior year's option applies to a later exam window.

Choose a window that fits the curriculum

A registration date is only one part of choosing an exam period. Map backward from a realistic study start. Allow an initial curriculum pass, spaced review, mixed-topic question practice, and time to revisit weak outcomes. Build a buffer for work, illness, travel, and weeks when study time is lower than expected.

Suppose you are choosing between February and May 2027. The February standard registration deadline is November 5, 2026, while the May early deadline is October 14 and its standard deadline is February 10. If the earlier period leaves too little time for a first curriculum pass and review, the registration price tier should not be the deciding factor. The dates create options; they do not tell you how much preparation you personally need.

For example, a candidate who has already studied Quantitative Methods and Financial Statement Analysis may need a different runway from someone encountering accounting and fixed income for the first time. The exam calendar does not know your starting point. A cheaper early fee does not make a shorter preparation period educationally appropriate.

Before selecting a window, consider your calendar and exam progression. CFA Institute generally permits no more than two attempts in a calendar year, prohibits consecutive windows, and requires at least six months between attempts. There is also a limit of six attempts per level. These rules can affect retake planning, so the next available Level I date may not be an eligible one for every candidate.

For a retake candidate, the calendar has another constraint: the next window must satisfy both the spacing rule and the candidate's readiness needs. An administration that looks close on a general calendar may be disallowed because it is consecutive or less than six months after the prior attempt. Check the progression rule before you commit to the fee, then build a retake period that includes time to act on your result feedback.

Eligibility and identity are separate checks

Meeting eligibility requirements lets you register; it does not reserve an appointment. CFA Institute requires a valid international travel passport for sitting the exam. The name in the candidate account and passport must match the Institute's identity requirements. Resolve a name mismatch or expiring document before registration becomes urgent.

Eligibility routes include a completed bachelor's degree, an undergraduate route tied to the timing of graduation, or a combination of higher education and professional work experience. Those rules have specific details about timing and qualifying hours. Review the dedicated eligibility guide before paying if your route depends on expected graduation or work experience.

If you need an accommodation, request it through the accommodation process and observe the deadline for the exam window. Accommodation request deadlines are not the same as registration or appointment scheduling deadlines. Candidates should allow time for documentation review instead of treating the accommodation submission as a last step.

Passport and account details deserve an early review. The CFA Program uses an international travel passport as the identity document for all candidates. Differences in name order, spelling, or a recent name change can become stressful close to the appointment. Confirm that the document you will carry matches the account requirements and will remain valid for your sitting.

A registration checklist that prevents avoidable errors

• Select the correct level and exam window. Confirm that the window exists for Level I and that your attempt spacing complies with CFA Program policy.
• Use the registration deadline for your selected window, not the appointment scheduling date. The two deadlines apply to different actions.
• Check the price tier and payment total before submitting. Local taxes may be added during payment.
• Schedule the Prometric appointment after registration and save the separate confirmation.
• Keep the passport name and candidate account details consistent, and read any accommodation deadline that applies to you.
• Complete and submit the required PSM before result release, even though it is separate from the appointment and exam score.

Registration and appointment FAQs

The common point of confusion is simple: registration buys the window, scheduling books the appointment. Keep both confirmations. A complete registration is not a completed scheduling step, and a broad testing window does not reserve any particular seat.