This is the second of two exams offered by the CAIA Association. This exam (in addition to other requirements) must be passed for an individual to become a CAIA designee. The CAIA program is the only globally-recognized credential specifically in alternative investments (hedge funds, private equity, commodities, managed futures, real assets, and professional standards and ethics). Level II addresses issues such as due diligence, portfolio management, risk management, and portfolio monitoring.
Exam Dates - Level II
March 1 – 14, 2012
September 10 – 21, 2012
The CAIA exams are administered in computerized format at proctored test centers around the world.Click here for more information on locations.
Time Limit: 4 hours plus break
Number of Questions: 100 multiple choice; 3 constructed response
Passing Score: Determined each year by CAIA Association
Passing Rates: In March 2011, 58% passed Level I
Format: Multiple Choice and Constructed Response (essay-type)
Prerequisites: Pass CAIA Level I
Corequisites: One year of work experience is required to become a full CAIA member.
Exam Date(s): March and September
Exam Results: Within six weeks of last exam date
Official Exam Website: CAIA.org
How do I earn the CAIA designation? The right to use the CAIA designation is earned by (1) successfully completing the CAIA program (i.e., passing both the Level I and Level II exams) and (2) becoming a member of the CAIA Association. To qualify for membership in the Association, you must fulfill all the following requirements.
1. Pass the Level I and Level II exams.
2. Hold a U.S. bachelor's degree or the equivalent, and have more than one year of professional experience, or alternatively have at least four years of professional experience.*
3. Submit payment for the annual CAIA Association membership fee.
4. 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. *Professional experience is defined as full-time employment in a professional capacity within the regulatory, banking, financial, or related field.
What do I get for becoming a CAIA designee, i.e. what are the benefits?
The CAIA Association is a dynamic organization that reflects its membership's interests and provides them with a vibrant global network. We are committed to developing industry skills and educational standards, and provide the industry's first and only designation for alternative investment specialists.
How much does the program cost?
To enroll in the CAIA program you must pay the one-time, non-refundable enrollment fee of $400 and the $1250 Level I test registration fee.
Fri, 09/10/2015 - 09:29
In June 2015, Preqin surveyed 61 Asia-based private equity and venture capital fund managers to gain insight into their attitudes towards the fundraising environment, deals landscape and issues affecting the private equity industry as a whole. This extract from the Preqin Special Report: Asian Private Equity analyses the key findings from the survey, highlighting the overarching trends and outlook for Asian GP activity for the next 12 months. ... »
Wed, 30/09/2015 - 11:21
A rising tide of regulation is threatening to swamp US hedge funds with significant trading, distribution and reporting issues.This Hedgeweek Special Report unravels these issues, guides managers through the solutions currently available to them, and examines the challenges of running activist hedge funds, where assets have grown to USD120 billion over the past decade... »
Wed, 23/09/2015 - 09:39
With interest rates set to rise, this Hedgeweek Special Report examines the the latest tools available to fixed income investors and traders in the form of the CBOE/CBOT 10-year US Treasury Note Volatility Index (The TYVIX Index) and TYVIX futures, which give traders an effective way to hedge, gain exposure to, or trade interest rate volatility.... »
Mon, 28/09/2015 - 14:40
Distributions from private equity funds have improved greatly in recent years as managers have taken advantage of improving market conditions to realise value from remaining assets in their portfolios. This has gone some way to alleviating concerns regarding the overhang of unrealised value in ageing funds; however, the issue has not yet been fully rectified, particularly as funds raised in the boom years of 2005-2008 reach the 10-year mark. ... »
Wed, 23/09/2015 - 09:31
Interest rate volatility is like a storm cloud building on the horizon. The US Federal Reserve has kept rates stable for nigh on a decade, but global asset managers are now preparing for their fixed income portfolios to feel the impact of a rate rise later this year. ... »