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For the March 2027 CAIA® exams, CAIA Association publishes a US$400 enrolment fee where applicable, a US$995 early exam registration fee or US$1,395 standard exam registration fee for a first attempt, and a US$795 retake registration fee. The enrolment charge applies to first-time Level I candidates and first-time Level II candidates entering through the CFA® Stackable Credential Program; a standard Level II entrant who has passed Level I pays the exam registration fee without a second enrolment charge. These are the association’s published fees, before any applicable tax or eligible partner arrangement.
Read the fee as components, not one headline price
The CAIA Association registration and fees page separates enrolment from exam registration. Enrolment is the one-time programme entry charge for the specified routes. Exam registration buys entry to a particular exam session and includes the official digital curriculum at no additional charge. The distinction matters because a first-time Level I candidate sees both lines at checkout, whereas a candidate moving from a passed Level I exam to a first Level II attempt normally sees the exam registration line only.
For first-time Level I in the published schedule, CAIA Association lists US$400 enrolment plus US$995 early exam registration, which totals US$1,395. During standard registration, the same US$400 enrolment plus US$1,395 exam registration totals US$1,795. The US$400 gap between those totals comes from the exam registration component. It is not a discount on the enrolment fee. The association’s registration FAQ explicitly says early pricing applies to the exam session registration fee only.
For first-time Level II after passing Level I, CAIA Association lists US$995 at the early rate or US$1,395 at the standard rate for exam registration. There is no repeated enrolment line on that route. A candidate entering Level II for the first time through the CFA® Stackable Credential Program is shown the US$400 enrolment line as well, giving the same US$1,395 early or US$1,795 standard totals as first-time Level I. “First-time Level II” therefore describes two different payment paths; check how you enter the programme before comparing totals.
The published retake rate is US$795 for either level, during either early or standard registration. CAIA Association says the digital curriculum is included with that registration line. Its FAQ says the early discount does not apply to retakes. If a candidate missed an exam or did not pass, the FAQ describes re-registration for a future session at the retake rate. A retake is thus a fresh session registration, not an extension of the prior booking.
Which dates matter for the next cycle?
As checked on 23 October 2026, CAIA Association says March 2027 registration opened on 12 October 2026, the early deadline is 7 December 2026 and registration closes on 1 February 2027. It lists the Level I testing window as 1–12 March 2027 and Level II as 15–26 March 2027. These are issuer dates for the March cycle; they do not mean every candidate can simply walk into a centre on any day within the window. Registration and exam appointment scheduling are distinct steps.
The same official page already lists a September 2027 cycle, with registration scheduled to open on 12 April 2027, the early deadline on 7 June 2027 and closure on 2 August 2027. Its listed testing windows are 30 August–10 September 2027 for Level I and 16–24 September 2027 for Level II. A reader planning beyond March should verify that page again nearer the relevant window because future dates and prices can change. This article records what the association published at the review time.
A useful budgeting step is to choose the actual exam window before comparing early and standard prices. Missing an early deadline changes the registration component, but missing a testing appointment can create a different problem altogether. CAIA Association says online proctored exams are available only by exception through an approved accommodation. Most candidates should therefore treat test-centre availability and scheduling instructions as practical constraints to check after registration.
What if the plan changes after payment?
CAIA Association says an exam registration is tied to a specific session. Its policy does not permit carrying a March registration over to September simply because a candidate’s plans change. Its FAQ likewise says the exams cannot both be paid for or taken in the same transaction or session. This matters for an employer reimbursement plan: the amount budgeted for one sitting does not automatically fund another sitting if a candidate cannot attend.
The published policy says the enrolment fee is non-refundable. It says exam registration fees may be refunded if cancellation occurs within 14 days of purchase, with any applicable bank-wire refund fee deducted, and directs the candidate to request cancellation by email to CAIA Association. The association’s FAQ also mentions retake-fee refunds within that 14-day period. A candidate considering a refund should read the current issuer terms immediately and use the issuer’s specified request route; this article cannot confirm the outcome of an individual application.
CAIA Association says exam registrations cannot be transferred to another individual. Its registration page also says deferrals will not be granted where a candidate fails to schedule an appointment. The FAQ refers separately to an emergency deferral policy; a candidate with an actual emergency needs to consult that specific policy for eligibility and evidence rather than assume that ordinary postponement is available. Keeping those cases separate prevents an expensive misunderstanding.
An illustrative budget comparison
Consider an invented planning scenario, using only the association’s published fee components and assuming no tax, discount or reimbursement applies. A candidate entering at Level I and later taking Level II for the first time would budget US$1,395 plus US$995, or US$2,390, if both registrations qualify for early pricing. At standard pricing for both attempts, the budget would be US$1,795 plus US$1,395, or US$3,190. These sums are arithmetic illustrations, not a quoted package price: CAIA Association says the exams are registered separately, and the candidate’s future eligibility and fee schedule must be checked at each registration.
Now suppose the same illustrative candidate must retake one level once under the currently published retake rate. Adding US$795 makes the early-price illustration US$3,185 and the standard-price illustration US$3,985. These amounts exclude local taxes and any other permitted adjustments. They also do not imply a candidate can lock in a later session’s price today. The point of the calculation is to show that the retake line is separate from the one-time enrolment line.
The example changes for a Stackable Credential Program entrant. Under the posted schedule, that entrant’s first Level II registration includes the US$400 enrolment fee, so the early and standard totals for that single sitting match the first-time Level I totals. It would be misleading to quote the ordinary post-Level-I Level II price to someone using the stackable route. The term “Level II fee” needs the entry-path qualifier to be useful.
Taxes, discounts and what the posted figures exclude
The CAIA Association fee page says Canadian and Indian GST applies to all fees where relevant. It points readers affiliated with association partners towards eligibility checks for discounts, and mentions a Singapore reimbursement route for eligible citizens or permanent residents after a successful pass. These are conditional possibilities, not automatic reductions to every candidate’s bill. The FAQ also says partner discounts are not granted retroactively and must be sought before registration. Do not subtract a possible benefit from the published fee unless the issuer confirms that the candidate qualifies.
Digital curriculum is included with new exam registration, according to CAIA Association. That statement does not mean every optional resource or printed material is included; the fee page only specifies the digital curriculum. Equally, the exam fee is distinct from future association membership. A candidate comparing the cost of an exam route should keep exam registration, possible taxes and any later membership decision as separate budget items.
For an actionable check, use this order: identify whether this is first-time Level I, ordinary first-time Level II, stackable first-time Level II or a retake; choose the actual exam session; read the early deadline on the official page; confirm the relevant tax and any partner eligibility; and review the cancellation and scheduling terms before payment. CAIA Association’s FAQ says payment is an online registration process and that registration is incomplete until payment is received, so a last-minute bank transfer deserves particular care.
The CAIA® programme page explains the qualification context, and Omni’s pricing page covers Omni’s separate preparation service. CAIA Association’s own registration page remains the source for exam fees and application terms. The figures above are those it published when this article was prepared; recheck the issuer page before making a payment.
Sources
- Exam Registration Dates and Fees - Chartered Alternative Investment Analyst Association · caia.org · Retrieved
- Frequently Asked Questions - Chartered Alternative Investment Analyst Association · caia.org · Retrieved
- Explore the Curriculum - Chartered Alternative Investment Analyst Association · caia.org · Retrieved
