Yes, you must pay to retake the CFA exam if you fail, as the CFA Institute does not offer free re-attempts. Retakes require paying the full exam registration fee (USD 1,000–$1,490+ depending on timing and year), though you do not have to pay the initial one-time enrollment fee again.
Technically speaking, after you fail your level 1 CFA exam, you need to retake the exam (unless you want to drop out of the CFA Program). To sit your next level 1 exam, you need to obey the rule of 6 months between the exams.
CFA All Level Fees
Exam retakes require payment of the $1,000 standard exam fee or $700 early registration fee. CFA Institute exam study materials are provided as part of the exam registration fee. We also encourage you to think ahead as you plan when you'll take the exams. Level I tests are now offered each quarter.
CFA® Exam Result Validity and Attempt Policy
Candidates are permitted a maximum of six attempts per exam level.
CFA Charterholders are committed to inspiring greater investor trust, raising professional standards and shaping a stronger future for the global investment profession. Members maintain their designation by annually filing a Professional Conduct Statement and Member Agreement, and paying annual dues.
Yes, the answer to Is CFA easy for CA students is that many CA students find CFA easier. It is due to the rigidity of the CA exams, as it is considered the toughest of all the accounting and finance exams to crack.
Reason 1: Insufficient Study Hours
This is the 1st cause of candidates fail in CFA exams. The CFA Institute recommends 300–350 study hours per level, but many underestimate this. Candidates who procrastinate are typically reduced to last-minute cramming, which is counterproductive.
While both CFA and a master's are equally challenging, the only differences come in when CFA is said to be more rigorous due to its specialised contents and demanding exam structure.
The CFA typically takes 2.5–4 years and costs between ₹2.5–3.5 lakhs in total. An MBA usually takes 1–2 years full-time and costs anywhere from ₹10 lakhs (Indian institutes) to ₹70 lakhs or more (international programs).
CFA Level I Pass Rate Stays at 43% for November Test
Candidates who put off taking the test have a smaller likelihood of success. Those who took the Level I exam in November with at least one deferral saw a 29% pass rate, compared with 49% for first-time candidates, the CFA Institute said.
An MBA program provides a broader education than the CFA program. The CFA focuses more on detailed topics like investment management. Completing both may give you a comprehensive education that could help prepare you for a career in portfolio and corporate management.
But obtaining a CFA is no easy feat. CFA exams are considered the most challenging out there—even harder than medical school or law school exams—with pass rates under 50%. The certification process demands years (yes, you read that right) of dedication, time, and effort.
7 Hacks to Master Your Studies and Become a Top 1% Student
Listing CFA Level One in the education section of the resume
Write "Chartered Financial Analyst." Include a hyphen and "Passed Level 1" next to it with the year you earned the qualification.
Is CFA tougher than CA? A: The CFA and CA (Chartered Accountant) qualifications have different focuses and challenges. While both are demanding, many find CA to be more rigorous due to its extensive practical training and exams.
No, studying for any CFA exam for less than 6 months will not give you enough time to adequately prepare unless you have a relevant background in the curriculum. According to CFA Institute, candidates study on average 348 hours for the Level I exam, 364 hours for the Level II exam, and 365 hours for the Level III exam.
All Big 4 accountancy firms – Deloitte, PwC, EY, and KPMG – are active recruiters of ACCA-affiliated accountants. Choice often depends on your interest area: audit, consulting, tax, or advisory.
CFA Exams Pass Rates
The CFA exams are perhaps the most challenging exams out there. They are often referred to as “bar none” the toughest exams—even harder than medical school or law school exams—with pass rates that hover around 50% and were much lower during the recent pandemic.