📅 2026 Update: Changes in the CFA Exam Process

Since the original article was published, there have been significant updates regarding the CFA exam process. These changes affect registration, calculator use, and available resources for candidates. The information in the earlier article continues further down the page.

📝 New Calculator Policy

As of January 12, 2026, the CFA Institute updated its exam calculator policy. Only two calculator models are now allowed during exams: the Texas Instruments BA II Plus (including the BA II Plus Professional) and the Hewlett Packard 12C (including the HP 12C Platinum and anniversary editions). This change aims to standardize exam conditions for all candidates.

📅 Registration Process

To register for the CFA exam, candidates must create an account on the CFA Institute's website. After setting up their account, they need to choose an exam level and complete the registration process. This includes selecting an exam date and location.

This streamlined process is crucial for keeping candidates informed and organized.

⏳ Exam Results Timing

CFA exam results are now typically available within 5 to 9 weeks after the exam window closes. This timeframe remains consistent, allowing candidates to plan their next steps effectively. Knowing when to expect results can help reduce anxiety during the waiting period.

🎓 Eligibility Requirements

Candidates must hold a bachelor's degree or be in their final undergraduate year to qualify for the CFA Level I exam. This eligibility rule remains unchanged. It ensures that all candidates have a foundational level of education before attempting the exam.

📅 Important Deadlines

Registration deadlines for the CFA exams vary by level and exam window. Candidates must check the CFA Institute's official website for the most current deadlines. Keeping track of these important dates is essential for successful registration and preparation.

📌 Key Points to Remember

  • 📅 Registration requires creating an account on the CFA Institute's website.
  • 📝 Only specific calculator models are allowed during exams.
  • ⏳ Exam results are available within 5 to 9 weeks after the exam.
  • 🎓 A bachelor's degree or final year status is necessary for eligibility.
  • 📅 Registration deadlines differ by exam level and window.

💡 Tips for a Successful CFA Exam Experience

It's important to discuss your specific situation with an attorney.

📚 Utilize Free Resources

The CFA Institute provides free resources such as study materials and practice exams. These tools can be incredibly helpful for exam preparation. Candidates should take full advantage of these offerings to improve their chances of success.

🗓️ Stay Organized

Make sure to track important dates related to registration and exam windows. Having a calendar or planner can help manage your time effectively. This organization will reduce stress as the exam date approaches.

🎲 Choose the Right Calculator

Only two calculator models are permitted during the CFA exams. Ensure you are familiar with the Texas Instruments BA II Plus or the Hewlett Packard 12C. Practicing with the allowed models can help increase comfort and efficiency during the exam.

📖 Review the Curriculum

The CFA program has a comprehensive curriculum that covers essential topics. Reviewing this material thoroughly can help candidates feel more prepared. Understanding the exam structure and content is key to success.

🧘‍♂️ Manage Your Time

Time management during the exam is crucial. Practice taking timed practice tests to improve your pace. This will help you feel more confident when answering questions under pressure.

🎯 Focus on Weaker Areas

Identify your weaker areas in the CFA curriculum and focus on improving them. Targeted study can lead to better overall performance. This approach helps ensure that you are well-rounded in your understanding of key concepts.

🏆 Top Services Ranked by User Reviews (2026)

This section reviews services that assist with business formation and legal document preparation, relevant to corporate law topics. The rankings are based on Trustpilot data checked in October 2026. Ratings may change over time, and while higher scores often indicate better service, customer experiences can vary widely.

🥇 1. LegalZoom

LegalZoom holds a Trustpilot score of 4.6. It is known for its business formation services, legal document preparation, and registered agent services. Some users have reported delays in processing times and issues with customer support responsiveness, which can affect the overall experience.

🥈 2. Bizee

Bizee has a Trustpilot score of 4.8. This company specializes in business formation services, registered agent services, and compliance services. While many users praise its efficiency, some have mentioned difficulties with website navigation and occasional document processing delays.

🥉 3. Rocket Lawyer

Rocket Lawyer has a Trustpilot score of 4.5. It is recognized for legal document creation, business formation services, and legal advice. However, some users find the subscription model costly, and there are occasional reports of customer service issues.

🆓 Free Government or Nonprofit Help

The CFA Institute offers free study materials and practice exams for candidates. This support can be a valuable resource for those preparing for the CFA exam. Utilizing these materials can enhance understanding and boost confidence.

🔎 Factors to Compare When Choosing a Service

  • 📅 Registration process simplicity
  • 💬 Customer support responsiveness
  • 📈 Success rates and outcomes
  • 📝 Range of services offered
  • 💸 Pricing structures and hidden fees

❓ Frequently Asked Questions

🤔 What is the CFA Level I exam format?

The CFA Level I exam consists of multiple-choice questions. Candidates are tested on a range of topics within finance and investment. Understanding the exam format is vital for effective preparation.

🔍 How can I check my CFA exam results?

CFA exam results are typically available on the CFA Institute's website. Candidates should regularly check their accounts for updates. This ensures that they stay informed about their performance.

⏰ What are the registration deadlines for the CFA exam?

Registration deadlines vary depending on the exam level and window. Candidates must consult the CFA Institute's official website for the most current information. Staying aware of these dates is crucial for timely registration.

📖 Where can I find study materials for the CFA exam?

The CFA Institute provides free study materials and resources on its official website. Candidates can access practice exams and curriculum details. These resources are designed to assist in exam preparation.

💻 What calculators are allowed during the CFA exam?

Only the Texas Instruments BA II Plus and the Hewlett Packard 12C are permitted during the CFA exam. Candidates should ensure they are familiar with these models before the exam.

📚 How do I prepare for the CFA exam?

Effective preparation involves reviewing the curriculum, practicing with allowed calculators, and utilizing free resources. Candidates should also manage their time and focus on weaker areas for improvement.

⚖️ Recent Court Cases Related to Corporate Law

Recent court rulings have focused on issues relevant to corporate governance and finance. These rulings can impact how corporations are formed and run, making them important for understanding corporate law.

To stay updated, readers can browse more rulings in the news section.

End of October 2026 Update





What is the Discount Rate?



The discount rate is a common economic term that can mean the following indicators or maneuvers: 

A discount rate can refer to the interest rate a central bank charges various depository institutions that borrow reserves from it. For example, a discount rate can refer to the interest rate that banks in the United States are charged for the use of the Federal Reserve’s discount window.

Guide to the Discount Rate

The discount rate may be used, in regards to computations of present value, synonymously with the interest rate.  It is important to note that the term “discount” in finance, refers a computation of various forms of present value (ie the net present value of a security or a discounted cash flow).

The discount rate may also be analyzed as the annual effective discount rate. The discount rate is significantly lower than the interest rate, because the nominal value is interpreted at a future value. Because this discount rate portrays the initial value as the nominal value minus a discount, it is typically used for Treasury Bills and other financial instruments of the same classifications.

What is the Annual Effective Discount Rate?



The annual effective discount rate refers to the annual interest divided by the capital including the interest, which is the interest rate divided by 100% plus the interest rate. The annual effective discount rate, in summation, calculates the annual discount factor, which is to be applied to the future cash flow. The annual effective discount rate, when applied to the future cash flow, will find the discount, when the figure is subtracted from a future value. For example, the discount rate for a treasury bills that sells for $95 and pays $100 in a year would be 5%--100-95/100. The interest rate is then calculated using the 95 as the base: 100-95/95=5.26%. For every annual effective interest rate, there is a corresponding annual effective discount rate.



Why is the Discount Rate Important?



A business, when deciding what to do with their profits (re-invest in the company or distribute to shareholders) will always consider the discount rate. In an ideal setting, the business would only buy an additional piece of equipment if it guaranteed the delivery of increased profits to the shareholders at a later date. That being said, the amount of excess profit that a shareholder requires to allow the company to buy the additional piece of equipment is based on the shareholder’s discount rate.