CAIA Exam Overview
All you need to know about the CAIA® exam
Content
Level I
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The Level I curriculum introduces candidates to alternative asset classes.
Candidates are asked to distinguish various alternative investment strategies and products and understanding the difference between alternative and traditional products. - Professional Standards and Ethics
15% – 20% - Introduction to Alternative Investments
20% – 28% - Real Assets (including Commodities)
11% – 17% - Hedge Funds
12% – 20% - Private Equity
11% – 17% - Structured Products
10% – 14%
Level II
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The Level II curriculum builds on candidates’ understanding of various asset classes and focuses on asset allocation in a multi-asset framework.
Candidates gain deeper understanding of risk management techniques and tools as well as various structured products. -
Topic:
Multiple Choice
/
Constructed Response
- Ethics, Regulation, and ESG: 0% / 10%
- Models: 8-12% / 0-10%
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International Asset Owners and Investment Policies: 8% – 12% / 0% – 10%
- Risk and Risk Management: 8% – 12% / 0% – 10%
- Accessing Alternative Investments: 8% – 12% / 0% – 10%
- Methods for Alternative Investing: 8% – 12% / 0% – 10%
- Due Diligence and Selecting Strategies: 8% – 12% / 0% – 10%
- Volatility and Complex Strategies: 8% – 12% / 0% – 10%
- Current and Integrated Topics: 0% / 10%
Exam Format
The CAIA® Exam is a computer exam given in two levels.
It is offered exclusively in English, twice a year in Mars and September, in many sites around the world.
CAIA® Level I
CAIA® Level II
Two Types of Questions
Earn Your CAIA® Charter
Here is the list of requirements you need to meet:
Meet one of the two requirements*
1- Obtain a bachelor’s degree, or equivalent, with a minimum of one year of professional experience
2- Have a minimum of four years of professional experience
Agree to abide by the terms and conditions of the CAIA Association® Member Agreement
Establish and maintain membership in CAIA Association
Provide two professional references
Pass Level I and Level II of the CAIA exam
* Professional experience is defined as full-time employment in a professional capacity with the regulatory, banking, financial, or related fields