Exams are offered annually at test centers around the world on the first Saturday in June. Exams must be passed sequentially and are only available in English.
The exam content, learning focus, and question format increase in complexity with each level. Level II exams emphasize more complex analysis, along with a focus on valuing assets.
Information regarding your exam venue will be provided by the CFA Institute after registration.
Exams are computer-based and each exam is 6 hours long. The Level II exam consists of 20 item set questions (with 6 items each). 10 item set questions are examined in the morning session and 10 in the afternoon session. Candidates must attend both sessions.
Results for Level II candidates are available within 60 days of the exam date. You can retake each exam as many times as required to pass.