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CFA and FRM exams

Dates, deadlines and topic weights for every level and part, kept in one place.

Dates and topic weights

  • CFA exam dates 2027Windows and registration deadlines for Levels I, II and III.
  • CFA Level I topic weights for 2027Multiple-choice questions over 4.5 hours, in two sessions of 135 minutes. Offered in February, May, August and November.
  • CFA Level II topic weights for 2027Vignette-based (item set) multiple-choice questions over 4.5 hours, in two sessions of 132 minutes. Offered in May, August and November.
  • CFA Level III topic weights for 2027Vignette-based essay and multiple-choice questions over 4.5 hours, in two sessions of 132 minutes, with one of three specialised pathways. Offered in February and August.
  • FRM exam dates 2027Windows, registration periods and fees for Parts I and II.
  • FRM Part I topic weights100 equally weighted multiple-choice questions in four hours, by computer-based testing. Offered in May, August and November.
  • FRM Part II topic weights80 equally weighted multiple-choice questions in four hours, by computer-based testing. Offered in May, August and November.

Study tools

Checked 28 October 2026. CFA® and FRM® are registered trademarks of their respective owners; Groundlearn is not affiliated with CFA Institute or GARP.

Study it in Cornerstone

Cornerstone follows these weights: snapshot cards and five-question sessions for every CFA® and FRM® topic area, with progress weighted the way the exam is. Free to start on Android, and offline.

About Cornerstone

Or get a free practice question every day on the Cornerstone WhatsApp channel.