United States
Exam Details
Preparing for the Level 1 CAIA® exam can be stressful...and at Kaplan Schweser, we understand how important it is for candidates to stay focused on learning instead of worrying about exam details. Below you will find useful links, key exam information, and important dates so you can do what's most important ... study!
Level 1 Candidates
March 2012 Level 1 CAIA Exam Window: March 8 – 21, 2012
Exam Information:
The Level 1 CAIA exam is divided into 2 sections. Candidates are given 4 hours to complete the 200 multiple-choice questions with an optional 30-minute break between each section.
Sections 1 and 2 each consist of 100 multiple-choice questions, which measure candidates' knowledge of the CAIA Level I curriculum. The Level 1 curriculum includes: quantitative methods; professional standards; performance evaluation of actively managed portfolios; risk and return characteristics of real estate, private equity, commodities, hedge funds, and managed futures; due diligence and risk management; credit derivatives.
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Level 1 Topic Outline
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| Topics Covered | Weight |
| Professional Standards and Ethics (Topic 1) | 15% - 20% |
| Alpha Drivers and Beta Drivers (Topic 2) | 10% - 15% |
| Real Estate (Topic 3) | 10% - 15% |
| Hedge Funds (Topic 4) | 20% - 25% |
| Commodities & Managed Futures (Topic 5) | 10% - 15% |
| Private Equity (Topic 6) | 10% - 15% |
| Credit Derivatives (Topic 7) | 10% - 15% |
Administered in computerized format, the Level 1 CAIA exam can be scheduled at Pearson VUE test centers around the world.
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Level 1 CAIA® Exam Registration Fees
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| Standard | AIMA / CISDM Member Companies*** | |||
| Early Registration | Registration | Early Registration | Registration | |
| Program Enrollment Fee * | $400 | |||
| Level 1 Exam Registration Fee ** | $1,150 | $1,250 | $675 | $750 |
| Total | $1,550 | $1,650 | $1,075 | $1,150 |
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Membership Fees
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| Standard | AIMA / CISDM Member Companies*** | |
| First Year Only Membership Dues | $250 | $150 |
| Subsequent Annual Membership Dues | $250 | $250 |
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Important Dates
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Items to Remember
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| October 3 – November 14, 2011 | Early Registration | |
| November 15, 2011 – January 31, 2012 | Standard Registration (late registrations will not be accepted) | |
| March 8 – 21, 2012 | March 2012 Level 1 Exam Window | |
* The Program Enrollment Fee is a one-time-only fee for new candidates.
** Exam Retakes: The cost to retake either exam (Level 1 or 2) is $350.
*** The fees and dues listed for the AIMA and CISDM are only applicable to members of the Center for International
Securities and Derivatives Markets (CISDM) and the Alternative Investment Management Association (AIMA).
Level 1
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