CAIA: Chartered Alternative Investment Analyst

Sameer Medhekar (Student) (4140 Points)
Replied 22 January 2009

CAIA Practitioners Benefits

The CAIA curriculum's focus on analysis, application and standards of practice creates the benchmark that institutions, investors and regulators recognize andwelcome globally
Professional Discounts: CAIA members receive discounts to a number of professional services, including several top news services and research sources. Members also gain discounted access to a host of industry conferences and CAIA events.
Ongoing Educational Opportunities: The CAIA Association and its membership place high value on ongoing education. Earning the designation is the first step in a CAIA member's access to a host of professional development opportunities like Certified Financial Planner Board of Standards, Inc. (CFP), Life Office Management Association (LOMA). Successful completion of the CAIA program exempts members from the Professional Risk Managers' International Association (PRMIA) exam
Career Opportunities: The CAIA designation can help open doors to a variety of professional opportunities by enhancing your industry marketability. Designees can be found in a variety of positions, including, Hedge fund, CTA, real estate and private equity fund management, Chief investment officers, Consultants to institutions, family offices, and ultra-high-net-worth individuals, Investment analysts, Regulators, Due diligence officers, Investment bankers, Asset allocators, Capital introduction specialists, Fund administrators, Lawyers, Accountants

Sameer Medhekar (Student) (4140 Points)
Replied 22 January 2009

Requirements to obtain the CAIA designation

The right to use the CAIA designation is earned by (1) successfully completing the CAIA program (passing both the Level I and Level II exams) and (2) becoming a member of the CAIA Association. In order to qualify for membership in the Association, you must fulfill each of the following:

Pass the Level II exam within three years of passing the Level I exam
Hold a U.S. bachelor's degree or the equivalent, and have more than one year of professional financial experience, or alternatively have at least four years of professional financial experience
Submit payment for the annual CAIA Association membership fee
Agree on an annual basis to abide by the Member Agreement

Membership is the final requirement for individuals who wish to use the CAIA designation.

Sameer Medhekar (Student) (4140 Points)
Replied 22 January 2009

CAIA Exam Structure

The exams are offered twice each year, once in May and once in September. The exams are administered in computerized format at proctored test centers around the world. The Level I exam is composed of three sections. The format for the entire Level I exam is multiple-choice.

Section 1: Quantitative methods.
Section 2: Foundations of alternative investments and includes such topics as alternative investment asset classes, trading strategies employed by alternative investment managers, sources of returns to these asset classes and strategies, and background on legal aspects of alternative investments.
Section 3 : Standards for professional conduct.The format for the Level II exam is both multiple-choice and essay. The Level II exam covers;

the application of portfolio theory to alternative investments,
selection of assets, managers, and strategies,
oversight and due diligence of investment managers, and risk management.
Standards of professional conduct are included as a separate section.

Sameer Medhekar (Student) (4140 Points)
Replied 22 January 2009

CAIA Exam Registration

Level I and Level II exams are administered in computerized format at proctored test centers around the world. To view a list of current sites offering the CAIA exams: