Congratulations…you are ready to move on to Level II of the CAIA exam! Level II focuses on applying the tools of the trade learned in Level I through deep analysis of alternative investments and their use in the investment process. The exam consists of 100 multiple-choice questions and three sets of constructed response (essay) questions. With this exam format, it is extremely important that you familiarize yourself with the curriculum and can formulate written responses quickly and accurately. Learn the intricacies of the Level II exam from CAIA instructors who have experienced the exam firsthand…and passed.