CAIA Exam Overview
All you need to know about the CAIA® exam
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% – 25%
- Real Assets (including Commodities)
10% – 20%
- Hedge Funds
10% – 20%
- Private Equity
5% – 10%
- Structured Products
10% – 15%
- Risk Management and Portfolio Management
5% – 10%
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.
Professional Standards and Ethics:
- Core and Integrated Topics: 0 % / 10%
Asset Allocation and Institutional Investors: 8% – 12 % / 0% – 10%
- Private Equity: 11% – 15 % / 0% – 10%
- Real Assets: 13% – 17 % / 0% – 10%
- Commodities: 5% – 7 % / 0% – 10%
- Hedge Funds and Managed Future: 18% – 22 % / 0% – 10%
- Structured Product: 5% – 7 % / 0% – 10%
- Total: 70% / 30%
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 requirement
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