How much time between two CFA® exams ?

* This article deals with the recommended period of time before taking the following CFA ® Level. For information on the delay before retaking the same level,  see our articles "CFA ® Level I Results : what should I do if I failed" 

The stress of the results, waiting for CFA Institute's email... waiting some more, and finally the email arrives!

And you see the word "Congratulations"!!

You then wonder : should i take a break or should i continue straight away with the next level ? 

This question is quite natural given the efforts made, but its answer is rather clear : yes, you should absolutely go on with the next CFA® Level. 

  • Rely on the knowledge y​ou've just acquired

The exam curriculum is a logical continuation of the previous level. You will find the same topics (with some exceptions at level III), following a logic of deepening and putting into practice the different concepts. It is important that the knowledge you have juste acquired is as fresh in your mind as possible to facilitate the preparation for the next level. Do not risk losing what you have learned by postponing your next level exam until the following year. 

  • Don't lose your ryhtm 

One of the difficulties of each CFA® exam is the pace of your revisions, finding the balance between professional life, personal life and CFA® preparation. By taking your exam quickly after the previous one, you have the advantage of benefitting from an effective methodology already in place. Conversely, the more you delay taking your next level, the more difficult it will be to get back into a proper revision pace. 

  • Get certified faster 

By passing your exam between six and nine months after the previous one, you take the shortest route to certification. Benefit from the positive effects of the certification (salary, network, credibility...) by taking the last two steps as quickly as possible. 

  • Be less affected by curriculum updates. 

As you probably know, the CFA® curriculum is updated every year. If you take a year off, the changes in content may penalise you and add extra work. 

  • Postpone, but till when ? 

Extending your CFA® path over an extra year is always a risk. This is because you are not in control of all your future constraints, and unforeeen personal or professional changes may add some difficulties. 

Postponing is also the best way to postpone indefinetly and never pursue you certification.     

in CFA

It is unfortunately no more possible to finance your CFA® Certification with the CPF.