The Best CAIA Exam Prep Courses of 2024
Having recognized the significant growth displayed by alternative investments in the global economy, I decided to invest my time and energy into the CAIA program to become an expert in the field. Advance your career with globally-recognized knowledge and credibility in alternative investments. Both levels of CAIA exams are conducted twice a year in March and September.
The Level I curriculum focuses on the fundamentals of alternative investment markets, while Level II concentrates on advanced topics in alternative investments. Both levels take a global perspective and incorporate issues of ethics and professional conduct. The Chartered Alternative Investment Analyst designation is meant for financial professionals who will be working primarily in the alternative investment space.
Pension funds that allocate a small part of their portfolio to alternative investments such as derivatives and private equity are becoming more common. Therefore, a charterholder is a good fit for a consulting, board, or even a full-time role at pension funds because of their knowledge of alternative investments. The CAIA Level II exam consists of 100 multiple-choice questions, plus three sets of constructed response (essay) questions. Candidates must apply the skills and knowledge from Level I to gain a deeper understanding of issues involved in each of the areas of alternative investments.
The Level I exam consists of 200 multiple choice questions and aims to take candidates’ knowledge of the topics and build upon what one should have learned during their undergraduate studies. The CAIA Level 1 curriculum concentrates on the fundamentals of alternative investment markets, building up candidates’ understanding of different asset classes. The multiple-choice questions count for 70% of your score, and the constructed response questions count for 30%. You have two hours to complete the multiple-choice question section and two hours to complete the constructed-response section. The CAIA certification is highly relevant in alternative investment management, and individuals with the charter often secure positions in various related roles across the industry. Their goal is to promote the education and development of professions surrounding “alternative investments”.
- Becoming a charter holder brings with it a level of achievement and hopefully opens doors in one’s profession that may not have been there prior.
- Successful completion of the two exams puts you among an elite group of more than 13,000 professionals worldwide.
- Here, we will introduce you to the CAIA program and information related to obtaining the CAIA designation.
The CAIA designation requires a significant amount of time, effort, and financial investment, making it a rigorous and challenging certification to obtain. Becoming a charter holder brings with it a level of achievement and hopefully opens doors in one’s profession that may not have been there prior. Probably the best way to learn about obtaining the designation itself would be to go through the Level I https://1investing.in/ and the topics covered within it, and touch upon the Level II exam a bit as well.
After passing the exams, a bachelor’s degree and one year of relevant work experience are enough to claim the CAIA title. Professionals without the degree who have passed the exams can also get the title after four years of related experience. Most issues can be avoided by completing a system test and ensuring that you meet all system requirements in advance of testing. Common issues include an unreliable internet connection and third-party applications trying to run during your exam. We strongly recommend that candidates confirm that all applications have been closed and that there is a sufficient and reliable internet connection prior to testing.
What Topics Are on the Level II Exam?
Wherever you are in the world, Kaplan Schweser is the gold standard of CAIA exam prep. From OnDemand classes to mock exams, every step of this course is top-notch. You are encouraged to learn more about your options below BEFORE you schedule your exam. For your convenience, the 2024 digital curriculum package is now INCLUDED with new Candidate registration fees.
Proctors may interrupt exams and take action if they witness any suspicious behavior or rule violations. They may need to offer a reminder (e.g., no talking) or investigate something (e.g., show me the room, your desk, etc.). A. Drinking beverages is allowed during your exam, as is chewing gum. The Chartered Alternative Investment Analyst (CAIA) designation is offered by the CAIA Association, established by the Alternative Investment Management Association (AIMA). Here, we will introduce you to the CAIA program and information related to obtaining the CAIA designation. Once you’ve registered for your exam, deciding where and when you’ll sit for the exam is an important next step.
In fact, the company and its distributors make up a quarter of the CAIA Association’s list of recommended preparation providers. Through this network of partnerships, Kaplan Schweser is able to offer courses in seven different regions across North and South America, Europe, and Asia helping it take the overall best spot. As not all testing centers have wide availability of dates, we strongly recommend scheduling your exam appointment as soon as possible to ensure a seat. Both Levels have been updated for the 2024 exam cycle and each exam reflects content from the 2024 digital or digital + print curriculum only. Once your connection is reestablished and if necessary, the application restarted, you will resume your exam from the question or moment you left.
What Topics Are on the Level I Exam?
Most professionals take three years or more to earn the CFA designation because of the difficulty of the exams. Only 41% of CFA test takers pass Level 1, with 45% passing Level 2, and 52% passing Level 3. CFA topics include general economics, financial reporting and analysis, corporate finance, equity investments, fixed income, portfolio management, and quantitative analysis.
PE firms also invest in mature companies and real estate or create funds of funds, which are investment funds that invest in multiple hedge funds. CAIA charterholders work in many roles, particularly those where alternative investment is very common. These roles span diverse sectors and require specialized knowledge of alternative investment strategies. To become a charterholder, one must pass two exams, each of which takes an estimated 200 hours of studying to pass, and must fulfill other criteria. These exams are very difficult, with both exams having passing rates of about 60%.
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Registered CAIA Candidates have two options to take the CAIA Exam:
If your program allows breaks, you’ll find that information in the program-specific policies section of this page. The proctor cannot answer questions related to exam content, and you may not get help from other individuals while taking the exam. A. To ensure your system will work with our software, first, review the minimum system requirements. Next, perform a system test and download the OnVUE software prior to your exam day. A. You need to test in an enclosed, private space where you can maintain a strong and stable internet connection, prevent interruptions, and protect the integrity of your exam content.
CAIA charterholders are often involved in portfolio management and asset allocation. The curriculum focuses on alternative investments and how to value them. CAIA charterholders often work in positions that involve portfolio management and asset allocation. The curriculum is focused on skills relevant to the valuation of alternative investments. Charterholders often find opportunities in firms that specialize in alternative investments.
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Finally, we considered the price of the course, available discounts, and any pass guarantees offered. These are all alternative investments, making CAIA charterholders the perfect candidates for positions within PE. Often, candidates with this certification find themselves working in hedge funds (HFs) as they are considered an alternative investment class. The first exam focuses most on professional standards and ethics, introduction to alternative investments, and private equity.
The CFA Institute reports an average of 300 hours of study per level (900 hours for all three) and charges a total of $4,100 for its exams. The CFA test material covers much more than just alternative investments, but it devotes far less time to that topic. That makes the CFA broader and more shallow, whereas the CAIA is very focused and deep. HFs frequently engage caia exam in alternative investment classes such as derivatives, real estate, land, and commodities. They can work in various positions within a hedge fund, with their roles determined by their expertise and experience in alternative investments. Candidates are given 4 hours to complete the 200 multiple-choice questions with an optional 30-minute break between each section.
