CFA Level 2 will be held three times in 2027: 18 to 22 May, 23 to 27 August and 20 to 24 November. Fees are USD 1,140 (early) or USD 1,490 (standard), plus local taxes. For the May window, standard registration closes on 10 February 2027; the November deadlines are yet to be announced.
The CFA Level 2 exam is the second level of the CFA Program and builds on the knowledge developed at Level 1. It focuses more deeply on applying financial concepts, analysing investment information and solving complex, case-based problems.
Contents
For 2027, CFA Level 2 will be conducted across three examination windows: May, August and November.
For the latest official CFA Program information, candidates can refer to the CFA Institute: CFA Program.
CFA Level 2 Exam Windows 2027
The CFA Level 2 exam is computer-based. It is not conducted on one single fixed date for all candidates. Candidates first register and then select an available exam appointment within their chosen examination window. Test-centre appointment availability can vary by location.
| Exam Window | Examination Dates |
|---|---|
| May 2027 | 18 to 22 May 2027 |
| August 2027 | 23 to 27 August 2027 |
| November 2027 | 20 to 24 November 2027 |
Registration and Exam Scheduling
Registration and exam scheduling are two separate steps. Registering for CFA Level 2 does not automatically book your exam appointment.
After registration, candidates must schedule an available appointment within their selected examination window before the scheduling deadline.
CFA Level 2 Fees 2027
The 2027 registration fee structure is:
| Fee Type | Amount |
|---|---|
| Early Registration | USD 1,140 |
| Standard Registration | USD 1,490 |
| Early Registration Saving | USD 350 |
Applicable local taxes are added separately during payment.
CFA Level 2 May 2027
Exam Window: 18 to 22 May 2027
| Important Deadline | Date |
|---|---|
| Registration Opens | 12 August 2026 |
| Early Registration Deadline | 14 October 2026 |
| Invoice Payment Deadline | 1 January 2027 |
| Standard Registration Deadline | 10 February 2027 |
| Scheduling Deadline | 16 February 2027 |
| Rescheduling Deadline | 7 May 2027 |
Candidates targeting the May window should plan their preparation early enough to allow time for conceptual learning, application-based practice, revision and mock exams.
CFA Level 2 August 2027
Exam Window: 23 to 27 August 2027
| Important Deadline | Date |
|---|---|
| Registration Opens | 3 November 2026 |
| Early Registration Deadline | 20 January 2027 |
| Invoice Payment Deadline | 20 March 2027 |
| Standard Registration Deadline | 29 April 2027 |
| Disability Accommodations Deadline | 5 May 2027 |
| Scheduling Deadline | 6 May 2027 |
| Rescheduling Deadline | 12 August 2027 |
The August window gives candidates another opportunity to plan their preparation around their academic or professional commitments.
CFA Level 2 November 2027
Exam Window: 20 to 24 November 2027
The November 2027 CFA Level 2 examination dates have been published, while the registration and scheduling deadlines are yet to be announced.
| Important Deadline | Date |
|---|---|
| Registration Opens | To be announced |
| Early Registration Deadline | To be announced |
| Invoice Payment Deadline | To be announced |
| Standard Registration Deadline | To be announced |
| Disability Accommodations Deadline | To be announced |
| Scheduling Deadline | To be announced |
| Rescheduling Deadline | To be announced |
| Exam Window | 20 to 24 November 2027 |
Candidates planning for the November window should monitor the official CFA Institute schedule once the registration timeline is announced.
How Should You Prepare for CFA Level 2?
CFA Level 2 requires a deeper level of preparation than simply completing the curriculum. Candidates need to apply concepts, analyse information and solve case-based questions.
CFA Institute reports that successful candidates study over 300 hours on average for each level, although the actual time required varies based on a candidate's background, existing knowledge, study availability and commitments.
Rather than following a fixed 4-, 6- or 9-month formula, Level 2 preparation should focus on completing the following stages effectively.
Build Strong Conceptual Understanding
Begin by working through the curriculum systematically and make sure you understand the underlying concepts, formulas and methods. Since Level 2 builds on your Level 1 foundation, revising weak areas early can make preparation more effective.
Focus on Application and Item-Set Practice
Application is a major part of Level 2 preparation. Candidates need to become comfortable reading vignettes, identifying relevant information and applying concepts to the questions that follow.
Practice should therefore continue throughout the preparation rather than being left until the final weeks.
Revise and Strengthen Weak Areas
As you progress through practice questions and tests, identify the topics where you are making mistakes. Use this feedback to revise concepts and improve your understanding.
Finish With Mock Exams
The final stage should focus on revision, improving speed and accuracy, and practising under exam-like conditions. Mock exams can help candidates assess their readiness and become familiar with the examination experience.
A strong Level 2 preparation cycle is:
At Skilledgrad, students can discuss their current Level 1 foundation, academic or professional commitments and preferred CFA Level 2 examination window with the faculty team to develop a preparation approach that suits their situation.
How Skilledgrad Helps You Prepare for CFA Level 2
Preparing for CFA Level 2 requires more than simply completing the syllabus. The focus needs to be on understanding concepts and applying them effectively through questions and case-based problems.
At Skilledgrad, students are supported through:
Expert FacultyLearn concepts with guidance from experienced faculty, with emphasis on understanding and application.
Comprehensive LearningCover the CFA Level 2 curriculum systematically across the key subjects.
Practical LearningConnect concepts with practical finance and investment applications to strengthen understanding.
Regular Topic-Wise TestsAssess your understanding after each topic and identify areas that need improvement.
Comprehensive & Integrated PracticeStrengthen preparation through continuous question practice and application-based learning.
Revision & Mock Exam PreparationBuild exam readiness through structured revision, practice and mock tests.
Doubt Clarification & Faculty GuidanceGet academic support throughout your preparation whenever you need help with difficult concepts.
Flexible Preparation ApproachPlan your preparation around your academic or professional commitments and the CFA Level 2 exam window you choose.
The objective is to help students move through the complete preparation cycle:
Which CFA Level 2 2027 Window Should You Choose?
The right examination window depends on your existing CFA foundation, academic or professional commitments, study availability and the amount of preparation time you need.
Instead of choosing a window only based on the exam date, consider whether you have enough time to complete the curriculum, practise item sets, revise weak areas and take sufficient mock exams.
Planning your preparation early can also help you complete registration and exam scheduling within the required deadlines.
CFA Level 2 2027 FAQs
How often is CFA Level 2 conducted?
CFA Level 2 is conducted three times a year: May, August and November.
Is CFA Level 2 computer-based?
Yes. CFA Level 2 is a computer-based examination conducted at designated testing locations.
Can I choose my CFA Level 2 exam date?
Yes. Candidates select an available exam appointment within their chosen examination window.
Does registration automatically book my exam slot?
No. Registration and exam scheduling are separate steps. Candidates must complete the scheduling process after registration.
Can I prepare for CFA Level 2 while working?
Yes. Working professionals can plan their preparation around their work schedule by choosing an examination window that provides sufficient preparation time.
How should I prepare for CFA Level 2?
A strong preparation approach should combine conceptual understanding, application-based learning, regular item-set practice, topic-wise testing, revision and mock examinations.
How much time should I dedicate to CFA Level 2 preparation?
There is no fixed number of months that applies to every candidate. CFA Institute reports that successful candidates study over 300 hours on average per level, but your required preparation time depends on your existing knowledge, Level 1 foundation, daily study availability and other commitments.
Start Your CFA Level 2 2027 Preparation
CFA Level 2 requires candidates to go beyond learning concepts and focus on applying them effectively to exam-style problems.
If you are planning to appear for CFA Level 2 in 2027, start by evaluating your Level 1 foundation, available preparation time and preferred examination window.
Skilledgrad Institute provides CFA preparation support through expert faculty, structured learning, practical exposure, regular tests, integrated practice, revision and exam-oriented preparation.
Plan your CFA Level 2 preparation early and follow a study approach that fits your academic or professional schedule.
