Understanding how CFA exam registration fees structure works may be confusing for some students. Here I am providing a simple explanation.

1. Note that there are discounts available for early registration.
2. When you enroll into CFA, there is a one-time enrollment fee to be paid. This fee has nothing to do with the exam. It is just a fee to enroll into the CFA program.
3. For each exam you pay an exam registration fee.

So suppose you are writing CFA Level 1, you will first pay a one-time enrollment fee and then pay the exam registration fee for CFA Level I exam.

When you write CFA level II exam, you will pay only exam registration fee. You don’t have to pay program enrollment fees again.

I hope this helps and let me know if you have any questions.