Exam calendar, by level

Not every window offers your level.
Here is your next real date.

The CFA® calendar rotates levels between windows, so “the next exam” and “the next exam you can actually sit” are often months apart. Find your case below, then set your exam date and let the plan date your materials day-by-day against it.

Which level sits in which window

Windows and dates are published by CFA Institute. Where a per-level date is not yet published, the cell says so rather than guessing.

WindowLevel ILevel IILevel IIIDeadline / note
August 2026August 18–24, 2026August 25–29, 2026August 13–17, 2026All three levels. Results release October 2026.
November 2026November 11–17, 2026November 18–22, 2026Not offeredRegistration closed August 11, 2026.
February 2027February 22–28, 2027Not offeredFebruary 18–21, 2027Final registration November 5, 2026.
May 2027Offered — see cfainstitute.orgOffered — first Level II after November 2026Offered — see cfainstitute.orgConfirm the published day-level dates before you plan around them.
The Level II gap

An August 2026 Level II candidate cannot resit before May 2027.

The arithmetic is fixed and it is not about you. August results release in October 2026. November 2026 registration closed on August 11, 2026, weeks before those results. February 2027 does not offer Level II at all. That leaves May 2027 as the next Level II sitting — roughly seven months after the exam you just took.

Long runways are the easiest kind of plan to build and the easiest to waste. Set your exam date to the May 2027 window now, and the plan spreads your materials day-by-day across the whole gap with spaced review instead of leaving you to restart in March.

Your next real date

Find the row that matches you. The “why” column is arithmetic on published deadlines, not advice about whether you passed.

You sat Level I in August 2026

Next date: February 22–28, 2027

Results release October 2026. November 2026 registration had already closed on August 11, 2026, so February is the next Level I window you can still enter. Register by November 5, 2026.

You sat Level II in August 2026

Next date: May 2027

November 2026 registration closed on August 11, 2026 — before your October 2026 result — and February 2027 does not offer Level II. May 2027 is the next Level II sitting.

You sat Level III in August 2026

Next date: February 18–21, 2027

Level III is not offered in November 2026, so February is the next window. Register by November 5, 2026 — about a month after results release.

You sit Level I in November 2026

Next date: February 22–28, 2027

The February registration deadline of November 5, 2026 falls before your November exam. Decide about a February seat before you sit, not after.

You sit Level II in November 2026

Next date: May 2027

February 2027 does not offer Level II, so the next Level II window is May 2027 either way.

Sitting Level I in November 2026? The February 2027 registration deadline of November 5, 2026 lands before your exam. If a February seat is a possibility, book it before you sit — you cannot add it afterwards.
Retaking is a scheduling problem first

What to do between now and that date

Most candidates lose the gap, not the exam. The plan is built from your uploaded materials, with quizzes generated from them, so the wait becomes scheduled work instead of a restart.

While you wait on results

Do not restart the curriculum. Upload your materials and let the plan schedule short day-by-day retention work on the topics you were weakest on, so nothing decays during the wait.

If the result is a pass

Set your exam date for the next window that offers your new level and the plan re-dates every task to it. Nothing is re-typed; the schedule moves.

If the result is a fail

You already own the materials and you already know which topics cost you the exam. The plan front-loads those and generates quizzes from the same pages, so the second attempt is targeted rather than a full re-read.

If your next date is far away

A long runway is a real advantage, not dead time. A longer plan spreads the same material over more days and adds more spaced review, which is exactly the shape that survives a six-month gap.

Free to start. $8/week or $30/month if you upgrade. No credit card to start.

Next-sitting questions

Which CFA levels are offered in each window?

August 2026 offers all three levels: Level III August 13–17, Level I August 18–24, Level II August 25–29. November 2026 offers Level I (November 11–17) and Level II (November 18–22) only. February 2027 offers Level III (February 18–21) and Level I (February 22–28) only. Level II returns in May 2027.

I sat Level II in August 2026. When can I sit it again?

May 2027. November 2026 registration closed on August 11, 2026 — before August results release in October 2026 — and February 2027 does not offer Level II. That gap is a scheduling artefact of the exam calendar, not a judgement on you.

When do August 2026 results come out?

CFA Institute releases August 2026 window results in October 2026. Every registration deadline for the November 2026 window had already passed by then.

When is the February 2027 registration deadline?

Final registration for the February 2027 window is November 5, 2026. If you are sitting Level I in November 2026, that deadline arrives before your exam — so the decision about a February seat has to be made before you sit.

What should I do during a long gap between sittings?

Keep the material warm instead of restarting it. Upload your materials once, set your exam date to the next window that offers your level, and the plan spreads day-by-day readings, quizzes generated from those readings, and spaced review across the whole runway.

What does exclam.ai cost?

Free to start. $8/week or $30/month if you upgrade. No credit card to start.

exclam.ai is not affiliated with CFA Institute or any prep provider. CFA Institute does not endorse, promote, or warrant the accuracy or quality of exclam.ai. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. exclam.ai does not reproduce CFA Institute curriculum content, learning outcome statements, or official mock exams, and makes no claim about your result. Exam windows, deadlines, and results dates are published by CFA Institute — confirm them at cfainstitute.org before you register.