CAIA is an association of CFA institutes that share a common mission of excellence in investment education. Since its charter, CAIA has been recognized as a global benchmark for alternative investment education and a springboard for many new entrants into the alternative investment world.
The designation Chartered Alternative Investment Analyst in the CAA program focuses on alternative asset classes such as private equity, hedge funds and commodities. Chartered Alternative Investment Analysts in the CAIA Association Program have in-depth knowledge and proven expertise in alternative investments. Earn the CCA Charter through the Gateway and become a member of the worldwide network of more than 8 alternative investment professionals based worldwide.
The CAIA Level 1 examination focuses on an introduction to alternative forms of investment and covers different asset classes. The Level 2 review builds on the foundations of Level 1 and complements current scientific and industrial research on alternative investments, asset allocation and risk management. The reason why the CAIA exam is the right one is if you would like to learn about alternative investments. Learning about alternative investments – a financial investment that is different from traditional asset classes such as stocks and cash – is called an alternative investment.
The Level 2 exam is unique in that it is divided into 2 sections each of 2 hours each, each of which contain 100 multiple choice questions (section 1) and 3 sets of constructed answer questions (section 2). CAIA Level 2 contains 100 multiple choice questions in Section 1 in addition to the constructed answer and the essay questions in Section 2. There is an equal time allocation for each section, with the 100 questions forming the majority (70%) of the exam and the weighting of the exam for the constructed answers (30%).
Individuals by taking these two exams, which cover alternative investment topics such as real estate, tax liens and hedge funds, can become CAIA charters, among others. The CAIA Level 1 Curriculum focuses on the fundamentals of the alternative investment market and builds an understanding of the candidates for different asset classes. CAIA exam preparation courses are offered by Kaplan and Schweser, and you can access many online study materials and personal instruction.
Even if you do not pass the CAIA exam on the first attempt, you can a second time take the CAA exam preparation course of Kaplan Schweser for free, and the affordability factor sets it apart from the competition. The course ensures that you meet the requirements of the CCAI Charter before enrolling. The CAIA Association recommends that candidates spend at least 200 hours on their exam.
Candidates should apply these skills and knowledge in order to gain a deeper understanding of the problems associated with alternative investments. The subjects on which you are being tested require that this kind of knowledge be acquired through structured and careful study, not through a frantic last-minute review of the core material. The CAIA Association recommends that candidates dedicate 200 or more hours of their studies to preparing for this exam level.
Wiley does not currently offer live classes or course materials for its CAIA courses. You will need to attend a course designed specifically for video in order to refresh the sections. The integrated core themes and texts are regularly updated to reflect the latest research and development results in the industry.
If you ask your teacher a question, it will be answered within 24 hours. This gives the whole thing a personal touch but is not as engaging as being able to ask questions in a live classroom.
It is worth noting that the requirements for personal tests may vary due to unforeseen circumstances. Special accommodation is available for those in need, which can be requested by presenting a roster for an examination.
Upon completion of the CAIA program, candidates must pass Level II Examination and all Level I tests within 3 years to qualify for designation. Registration is exam-specific and will not be transferred to future exam sessions. You must join a CAIA association and submit two professional references to the association.
CFA (r) at CAIA is divided into two levels and to be a part of the CAIA Association you must go through both levels. Each level consists of 200 multiple choice questions and covers topics such as professional standards and ethics, introduction to alternative investments, real assets, hedge funds, commodities, private equity, structured products, risk management and portfolio management. Stage II testing has more complications and deals with issues such as regulation, due diligence and risk management, as well as ethical considerations in the field of work.
The percentage of candidates passing the CAIA exam varies from exam to exam. Self-directed and motivated candidates can pass the CCAI Level I exam with courses and self-study, but the majority of those who pass the exam attend exam preparation courses or sign up for exam packages. Only about 40% of the candidates starting the programme deserve a charter.
Varsity tutors can help you prepare for your upcoming CAIA exam with the support of experienced CAIA tutors. Self-study packages start at $499 for all levels, and you pay $1,129 for access to live class reports, workshops and mock exams.
CAIA recommends investing at least 200 hours of time in preparation for the exam (s). Most CAIA candidates are professionals who work at least 50 hours a week in their careers and often have a spouse, children or other important requirements for their time away from work. Complementing the individual learning time with one-on-one lessons with CAIA charter owners who have already passed the exam can be a helpful exercise.
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