Exam Information

 
Information and policies related to FMI programs and accreditations.

Exam Calendar

Exam Day Registration Deadline Results Release Deadline
Saturday, May 10, 2025 (AFM) Friday, April 11, 2025 Saturday, July 7, 2025
Saturday, July 26, 2025 (AFM) Friday, June 27, 2025 Saturday, September 20, 2025
Saturday, October 25, 2025 (AFM and CFM) Friday, September 26, 2025 Saturday, December 20, 2025
Saturday, February 21, 2026 (AFM) Friday, January 23, 2026 Saturday, April 18, 2026

Exam Day: Saturday, February 22, 2025 (AFM)
Registration Deadline: Friday, January 24, 2025
Results Release Deadline: Saturday, April 19, 2025

Exam Day: Saturday, May 10, 2025 (AFM)
Registration Deadline: Friday, April 11, 2025
Results Release Deadline: Saturday, July 7, 2025

Exam Day: Saturday, July 26, 2025 (AFM)
Registration Deadline: Friday, June 27, 2025
Results Release Deadline: Saturday, September 20, 2025

Exam Day: Saturday, October 25, 2025 (AFM and CFM)
Registration Deadline: Friday, September 26, 2025
Results Release Deadline: Saturday, December 20, 2025

Exam Day: Saturday, February 21, 2026 (AFM)
Registration Deadline: Friday, January 23, 2026
Results Release Deadline: Saturday, April 18, 2026

Exam deferrals must be made 48 hours prior to your scheduled exam.

Testing accommodation requests must be submitted 6 weeks prior to your scheduled exam.

Policies

Testing Accommodations

The process of testing accommodation refers to the provision of special arrangements or adjustments made during an exam to accommodate individuals with disabilities. These accommodations ensure that all candidates, regardless of their circumstances, have an equal opportunity to demonstrate their knowledge and abilities during the examination process.

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Testing Accommodations Checklist for Candidates

Follow these steps to ensure your request for testing accommodations is successfully processed by Financial Modeling Institute (FMI).

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Invalid Exam Results (AFM & CFM)

If a candidate’s exam attempt does not comply with the FMI’s Exam Rules and expectations, the exam attempt will be considered invalid, and the exam submission may not proceed to grading.

During the FMI’s post exam validation processes, if a candidate is found to have violated the exam rules an invalid exam investigation may commence. This is including, but is not limited to:

  • late file submissions
  • Communications with other people during the exam
  • opening other websites or computer programs that are not allowed

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Frequently Asked Questions - AFM  

Before the Exam: 

What study materials are available to help me prepare for the AFM exam?

  • You will be able to access the AFM exam learning materials on the FMI’s Community platform. 
  • These materials include:
    • A 12-hour step-by-step financial modeling video tutorial series (60 videos)
    • Sample models
    • Practice exams and solutions
    • 1-hour Q&A session with FMI to address questions prior to the AFM exam

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AFM Re-Enrollment Options

Re-Enrollment Fee: $300 USD
AFM candidates who do not pass the exam are eligible for Re-Enrollment at a reduced fee of $300. Re-enrollment provides continued access to the FMI Community, the AFM learning resources and eligibility for the next AFM exam sitting.

Re-Enrollment with Review Call: $350 USD
AFM candidates who do not pass the exam are eligible for Re-Enrollment with Review Call at a fee of $350. This provides continued access to the FMI Community, the AFM learning resources and eligibility for the next AFM exam sitting. The Re-Enrollment with a Review Call fee also provides the candidate with a 30-minute call with an FMI Grader in order to review their previous AFM exam submission.

If you would like to re-enroll in the AFM Program, please email info@fminstitute.com to confirm your eligibility.