Cost of CFA


i investigated a bit fees and I see that enrollment fee is $440. I have some questions:

Is it payed once only or each year ?

I see that second call is $800 and final $1170, how about the first ?

I also want to ask, can I pay enrollment and later exam fee ?

For example I intend to take level one on 2014. Can I enroll myself now and buy study material and start learning ?


The enrollment fee is a one-time fee. You pay it when you sign up for Level 1 (the first time), and you never have to pay it again.

I don’t remember what the exam fees are, but they differ by when you sign up. The eariler, the less you will pay. I remember that there’s not much difference between the first deadline and the second.

I don’t think you can pay the enrollment fee then pay the exam fee later. You must pay them both at the same time. (Why would you want to, anyway?)

If you want to take Level 1 in June 2014, you can register and begin studying as soon as you get your books. (You can start studying ethics now–the Code and Standards is available on the website.)

Actually I want to take L1 in december 2014 and my idea was to pay fee for the enrollment now pay for the bundle of the books, start learning, and then register for the exam when possible I think im march 2014.

what do you think ?

Books are bundled with the exam, so that’s going to be a bit tricky!

Nope. Can’t do it. Pay for it all at once.

And why pay for some now and some later? If you pay the enrollment fee and buy the books, then you don’t register for the test, you’re out the enrollment fee and the books.

If you need study material, go on Ebay and buy some old CFAI curriculum or Schweser notes. Level 1 stuff won’t change much from one year to the next.

So what you buy from CFA when enrolling is not Schweser but their own books that you call curriculum ? Right ?


many years ago, CFA used to separate the exam and its own books. so you can buy a-la-carte. But starting around 2008-2009, they bundled the two and you can’t buy it seprately

Started in 2008 when I wrote L3.

You need to pay enrollment fees only once and after that you need to only pay for the exam fees. Only for the exams that you want to appear.

The NPV has always been negative. Decades ago, those that enrolled in the program were already seasoned veterans and took the exams for the knowledge. During the last decade, hundreds of thousands of people around the world started enrolling at precisely the same time the industry started contracting.

sucks to take exams now…

For some, maybe. I disagree though, for most.

this is very sad and very true…

People are nowdays studying and studying… and nothing is guarateed ! Before it was safer even ordinary people were safe and sure, now nobody !

^ You are competing globally now instead of just locally.