Body of Knowledge
With the Level II topics, you will learn how to apply the tools learned in Level I to analyze and invest in alternative investments. The Level II curriculum includes: ethics, current academic and industry research, asset allocation, private equity, real assets, commodities, hedge funds, managed futures, and structured products.
Master these concepts with a comprehensive Level II study package:
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CAIA® Exam Format
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. To best manage your study plan, it’s essential to know what is on the curriculum and how the topics are weighted.
Note: Normally, the exam is held in testing centers. However, to address safety concerns related to COVID-19, CAIA is offering all September exam candidates an online proctoring option. All the details are in this FAQ.
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2020 Registration and CAIA® Exam Dates
March 16—27, 2020 Cancelled due to COVID-19.
Final deadline exam registrations:
- Registration Opens - October 1, 2019
- Early Registration Deadline - November 12, 2019
- Registration Closes - February 4, 2020
- Registration Opens - April 1, 2020
- Early Registration Deadline - May 13, 2020
- Registration Closes - August 5, 2020
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Requirements to Earn the CAIA® Charter
- Pass Level I and Level II of the CAIA exam.
- Exams must be taken in separate exam cycles
- Exam cycles occur in March and September
- Meet one of the two requirements below:
- Obtain a bachelor’s degree, or equivalent, with a minimum of one year of professional experience
- Have a minimum of four years of professional experience
- Professional experience is defined as full-time employment in a professional capacity with the regulatory, banking, financial, or related fields
- Agree to abide by the terms and conditions of the CAIA Association® Member Agreement.
- Agreement renewal is required on an annual basis
- Provide two professional references.
- Establish and maintain membership in CAIA Association.
- Membership fees apply; renewed on an annual or bi-annual basis
- One-year membership $350; two-year membership $700
Give yourself the best chance the pass your CAIA Exam with Level II Study Packages.
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