CAIA Exam Curriculum Topics CAIA Association

To best manage your study plan, it’s essential to know what is on the curriculum and how the topics are weighted. The CAIA® designation is recognized globally as the benchmark for analysis, application, and standards of practice in the alternative investments arena. In this article, you’ll learn exactly what the CAIA designation is, what
an alternative investment analyst does, how you can become a CAIA charterholder, and what you can do with the designation. It takes a long time and a substantial investment of money to complete each program.

1. We also looked at options for live classes and ease of access to instructors.
2. Most materials are available in both digital and printed format; choosing digital materials may save you a bit of money on your course costs, while both can be purchased together for an additional fee.
3. However, for individuals looking to achieve a more expert-level grasp on the area of alternative investments, the CAIA should be considered, either as a stand-alone designation or to augment one’s CFA charter.
4. This comprehensive guide is packed with the latest CAIA course details that will help you decide if this designation suits your career goals.

Cramming in the last few weeks for the
exam won’t work because you are going to be tested on your ability to read a question, analyze it, and apply concepts to it. Your commitment to earning the CAIA designation is a significant one and you’ll want to be sure you are ready to get started. The exams are administered in March and September, and the Chartered Alternative Investment Analyst Association recommends at least 200 hours of study. It’s important to note that Varsity Tutors is the only company in our review that isn’t included on the CAIA Association’s list of recommended preparation providers.

However, many CAIA charterholders agree that it sets you apart in the world of alternative investments. Similar to earning the Chartered Financial Analyst (CFA) designation, possessing the CAIA designation provides individuals with access to jobs, member chapters and sources of education. The CFA includes content on alternative investments, but the CAIA dives much deeper into the topic and the valuation methods specific to each. One of these is a self-directed course, providing access to a library of study materials with the option to add a review workshop and online mock exams. The other two feature live weekly classes and access to instructors, who can answer questions at any time. While only consisting of 100 multiple choice questions, the Level II exam also includes three sets of written essay questions, which will challenge a candidate’s full understanding of the material.

The CAIA requires an estimated 200 hours of study time per level for a total of 400 hours and $3,190 in standard registration and exam fees. The CAIA Association administers the program and sets its basic requirements. Data show that 75% of candidates who earn their CAIA charter do so in 12 to 18 months.

In our article about how to earn the CAIA designation, you can
take a closer look at the requirements. For your convenience, the 2024 digital curriculum package is now INCLUDED with new Candidate registration fees. Please note – since the digital curriculum is automatically part of the registration fee, we are not able to issue a credit if you select to purchase the print version separately. Both Levels have been updated for the 2024 exam cycle and each exam reflects content from the 2024 digital or digital + print curriculum only.

Of the two, the CFA is seen as the more difficult designation to get, as the exams cover more content and have historically had lower pass rates than the CAIA exams. Overall, the CFA is seen as an excellent general designation for the financial industry, but the CAIA can be a difference-maker in niche areas of finance like private equity or hedge funds. A large part of the value offered by a CAIA exam prep course is the quality of its study materials, and you won’t find a more comprehensive toolkit than UpperMark, which is why it leads this category. The company’s claim to fame as a preparation provider is its proprietary TestBank software that generates customizable exams from more than 1,800 practice questions.

CAIA exams are administered twice a year at test centers around the world and as an online proctored exam where feasible. This not only aids in retention but also ensures quicker recall during the exam. Select your exam level, pick the package right for you, and get ready to Prepare, Practice, Perform®. Once you’ve registered for your exam, deciding where and when you’ll sit for the exam is an important next step.

CAIA Exam Curriculum Overview

When you pass the CAIA exam, you become a representative for the CAIA Association…an ambassador of sorts. So, they want to know that you’re of sound character and good under pressure. Therefore, on exam day, they test your mettle along with your knowledge of the concepts. Instead, tell yourself that panicking will spoil all
the good work you put in.

Next, we examined the different formats of study materials provided, including textbooks, notes, flashcards, and practice exams. We also looked at options for live classes and ease of access to instructors. Finally, we considered the price of the course, available discounts, and any pass guarantees offered. The Level II CAIA exam is composed of 100 multiple-choice questions and three sets of constructed-response (essay-type) questions, which measure candidates’ knowledge of the CAIA Level II curriculum. Candidates are given 2 hours to complete the multiple-choice question section and 2 hours to complete the constructed-response section. Based on candidate surveys performed by CAIA Association, more than 200 hours of study are recommended to prepare.

Chartered Alternative Investment Analyst

The CAIA is a useful title for some professionals, but its application and focus are more narrow. It can be challenging for finance professionals to keep up with the alphabet soup of potential professional titles. That is especially true when many programs seem to cover much of the same information. Such is the case when comparing the designations of Chartered Alternative Investment Analyst (CAIA) and Chartered Financial Analyst (CFA). These are both attractive options for professionals committed to a career in the field of financial analysis. Whether you’re just getting started on your study journey or quickly approaching the crucial exam day, optimize your preparation with these helpful tips and handy study calculator.

Registered CAIA Candidates have two options to take the CAIA Exam:

CAIA Association reports that the average Level II candidate studies for at least 200 hours. It’s important that you do your studying over a period of several months, and that is why registration opens five months https://1investing.in/ before the exam window opens. The topics you’re being tested on require a type of knowledge that can only be gained over a structured, careful course of study—not last-minute, frantic reviews of core materials.

It has arguably become the most recognizable and sought after professional designation in the industry. CAIA Level 2 is unique in the sense that the exam is split into 2 sections of 2 hour each, consisting of 100 multiple-choice questions (Section 1) and 3 sets of constructed-response questions (Section 2). Despite the equal time allocation per section, the multiple-choice section forms majority (70%) of the Level 2 exam weight, and the essay-type questions caia exam only 30%. Given COVID-19, online proctored exams (at home or an office) are now available as an option for candidates as well, subject to meeting the environmental and technical requirements. The demand for alternative investment managers is likely to continue to rise in the foreseeable future. In today’s rapidly changing economic, geopolitical, regulatory, and social setting, long-term stewardship of assets requires interdisciplinary knowledge.

Level II exam results are available within six weeks after the last exam day, due to the need to grade essay questions. Varsity Tutors is the best choice if you’re looking to incorporate one-on-one instruction into your CAIA exam prep plan. These flexible online sessions can be personalized according to your existing knowledge and study progress. UpperMark’s four study packages also come with a wide range of helpful study tools such as handbooks and formula sheets.

Since the CAIA covers investments that aren’t equities or bonds, the title could be considered superfluous for most financial professionals. However, the CAIA does have two specific and lucrative homes, namely private equity and hedge funds. The CAIA is useful in large part because alternative investments are an essential part of many institutional investment portfolios. The CAIA is relevant to financial professionals who want to focus on alternative investments at pension funds, foundations, and sovereign wealth funds. The CAIA Level II exam consists of 100 multiple-choice questions, plus three sets of constructed response (essay) questions.

The CAIA Charter curriculum consists of two exam levels and is revised regularly to incorporate relevant, practical industry developments, and the latest academic research. We are pleased to offer a CAIA Level I and Level II exam discount to Members of many of our association partners. Find out if you are eligible to take advantage of a discount here or learn more about access to supplemental knowledge and resources through CAIA-sponsored industry events. Wherever you are in the world, Kaplan Schweser is the gold standard of CAIA exam prep. From OnDemand classes to mock exams, every step of this course is top-notch.