CFA Level 1 Fees in 2025: Hidden Costs & Smart Savings Tips to Consider

Pursuing the CFA Level 1 examination in 2025 is a crucial milestone for finance professionals seeking to advance their careers in asset management, investment banking, and financial analysis. But, most candidates only think of registration and the cost of the exam, there are also CFA Level 1 fees you should think about when making a decision. You should also consider potential expenses when budgeting, such as textbooks and reschedule fees.

It is important to determine the cost of the CFA course in order to be realistic and honest with budgeting and to avoid unnecessary financial strain while preparing for the exam. The good news is, with the right planning and selections in resources, you can reduce your CFA Level 1 experience to be as low of a cost as possible while still being well-prepared.

7 Ways to Save and Manage CFA Level 1 Fees Smartly

1. Exam Registration Fees

The most significant expense associated with taking the CFA Level 1 exam is the exam registration fee, which typically costs between USD940 and USD1250 based on the registration window you use. When you register early, you get the lowest fee; if you register later, it costs more. Often, many candidates do not consider this variability and think the price is the same throughout the whole year, which can lead to unnecessary expense.

Tip: Aim to register early! It will save you a few dollars and give you more preparation time with a specific exam date in mind. Mark the deadline of the CFA course provided by Institute registration in advance so that you never miss the early-bird window.

2. Syllabus & Study Material Costs

The CFA course Institute provides free e-syllabus access, once you register; many candidates use 3rd party preparation providers to assist in their preparation. These packages range anywhere from $300-$1500 depending on your choice for self-study, full-prep course, or on-line class. If you do not center these costs into your budget, it could strain your finances.

Tip: Prior to spending money on 3rd party material, use the Chartered Financial Analyst Institute's syllabus and free study resources (practice questions, YouTube lectures, study groups, etc.) First, if you decide to spend on material, you should think about a comparison from providers and choose your level of support.

3. CFA Level 1 Enrollment Fee

First-time Chartered Financial Analyst candidates are required to pay a one-time enrollment fee of approximately $350, in addition to the overall course cost. Since this fee is non-refundable, if you change your mind after enrolling, you may lose the amount. For many candidates, this upfront cost may feel hidden, especially when planning overall CFA Level 1 fees.

Tip: If you are thinking about whether or not to pursue a CFA course charter, consider the issues in advance of the enrollment fee. Look into the career benefits, connect to Chartered Financial Analyst professionals, and ensure that the course aligns with your career and long-term goals. You don't want to pay for the Chartered Financial Analyst, then drop out.

4. Travel & Accommodation Expenses

Although CFA Level 1 exams are computer-based and offered across centres, you may need to travel to another city or country if the nearest centre is not available during your exam window. This can add cost to the overall budget for hotel stays, transportation, and meals, which can amount to hundreds of dollars.

Tip: Book exam slots as early as possible to secure a nearby test center. If you must travel for the exam, ensure to plan ahead of time to take advantage of flight discounts, hotel discounts, etc. Consider exam centers on the outskirts of your city, as those may have less expensive options.

5. Retake Costs

Unfortunately, not every candidate can clear the CFA Level 1 exam on the first attempt, and pass rate is low below 50%. Retaking the exam means you have to pay the registration fee again, meaning $940 to $1,250 would be added to your CFA Level 1 fees that you may not have budgeted for anyways. This is another cost that gets lost on a CFA Level 1 budget without the retake.

Tip: Save costs of retaking the exam due to lack of preparation (i.e. not preparing properly the first time around). Study in a structured disciplined schedule from day one. This should include a question bank (you need to pull up old exam questions anyway), exams with a set period of time (this features stress), and mock exams. This will ensure the candidate has enough exposure to feel confident and prepared for the CFA level 1. Doing this can ultimately save you several hundred dollars.

6. Membership & Continuing Costs

Retaking the exam refers to paying the registration fees again, adding an extra $940 to $1,250 to your budget for CFA Level 1 fees. This is another hidden cost that many candidates do not account for in their Chartered Financial Analyst budget.

Tip: You don't need membership at Level 1, hence avoid paying extra until it is essential. Rather than pay for a formal paid networking organization (e.g. CFA Society), you can use freely available networking forums such as Chartered Financial Analyst forums or LinkedIn to connect with professionals and others in the field, while avoiding membership dues.

7. Opportunity Cost of Time

Candidates preparing for the CFA Level 1 typically need to study 300+ hours, impacting work opportunities, educational aspirations or side income. While this is not director cost, but opportunity cost candidates rarely consider.

Tip: Treat your Chartered Financial Analyst prep like investment of money and time. Plan a schedule that reasonably allows you to work and upskill. In this way, you will minimize lost wages, and still meet or exceed your study expectations.

Final Takeaway!

While the CFA Level 1 fees include base registration fee of around $900 to $1,200 and enrollment fee of $450 (for first-time candidates), additional costs such as study materials, exam rescheduling, mock exam can add total investment of around $1,500 to $2,000.

Being aware of these hidden costs and leveraging strategies as early registration, selecting digital study materials can assist candidates to manage costs while reducing chances of success. Connect with the Zell Education team to learn more about the CFA course.