What Should You Know About The CFA Examination Cost
/As with many types of exams, there are certain costs associated with taking the Chartered Financial Analyst (CFA) exam. You will find that these fees can be quite expensive and this is partly because the CFA comprises three separate exams. These exams also cover quite a lot of materials, so this adds to their cost.
You might first think of registration fees, but the CFA exam cost goes far beyond that. There are additional expenses that come into play when you take the CFA exam. The benefits of becoming a CFA justify these costs in many people's view, but it is important to know enough about them regardless.
The Cost of CFA Exam Prep Courses
CFA exam prep courses are a great help and also an important cost, too. Review courses are vital in helping you pass all three levels of the CFA exam. Not taking a review course can make it more likely that you fail one part of the CFA test or possibly even more than one part. Failing a CFA level means you have to wait nearly a year to retake it. It also means that you have to spend between 200 and 300 hours studying for that level all over again.
Additionally, you will have to pay the registration fee again, which can vary from $650-$930. This is a significant amount of time and money that you have to spend on retaking just one level of the CFA exam. That is why a review course is such a good idea. No matter your learning style, you should select a review course that fits it. The majority of CFA exam review courses are quite affordable, too. Review courses are another cost, but one that tends to pay off in the long run quite often.
The Cost Of Program Enrolment Fees
There are many fees you have to pay to take the CFA exam. The first of these is the Program Enrollment Fee and you only have to pay this fee once to get entry to the three separate CFA exams. The cost of this fee is $450 and you pay this fee when you complete your registration for your very first Level 1 CFA exam. This is more or less your application fee since you must pay this to apply for the CFA exam in the first place.
The Cost Of Registration Fees For CFA Exams
You must pay registration fees for each CFA exam you take. The fee primarily covers the exam itself and the eBook. The eBook includes mock exams, practice tests for the various topic areas, in addition to the full curriculum as well. The price changes a great deal based on when you register for the CFA exam. The early registration fee is $650, the standard registration fee is $930, and the late registration fee is $1,380.
As you can see, it is best to avoid registering late if at all possible. The deadline for early registration is between eight and nine months before the exam and the deadline for standard registration is between three and four months prior to the exam. The deadline for late registration is less than three months before the exam. Early registration is the cheapest, so you can save money on the CFA exam cost by registering for all three CFA exams early. That is why many candidates prefer to register early.
