CHARTERED ALTERNATIVE INVESTMENT ANALYST (CAIA®) PROGRAM - LEVEL II EXAM

The CAIA® Level I Exam provides an introduction to Alternative Investments, the risk and return parameters and its performance measurement.

• Ethics, Regulations and ESG
• Models
• Asset Owners and Investment Policies
• Risk Management
• Methods for Alternative Investing
• Access to Alternative Investments
• Due Diligence and Manager Selection
• Advanced Strategies
• Ethical Standards and Professional Conduct

In addition to a completely restructured top-down approach to assets, the Level II curriculum:

• Incorporates the Asset Manager Code from CFA Institute.
• Features two new chapters on ESG.
• Has been informed by input from CAIA Members, Candidates and industry professionals.

Exam Format

• The CAIA Level II exam is composed of 100 multiple-choice questions and three sets of constructed-response (essay-type/subjective questions)
• There are 2 sections in the exam of 2 hours each. First section has 100 multiple-choice questions and second section has constructed response questions/li>
• All the CAIA Level II exam topics may be tested in multiple-choice questions and constructed-response format, or both.
• The candidate has the option of taking a 30-minute break between the 2 sections.

CAIA LEVEL II EXAM TOPIC WEIGHTS

Topic Area	Weight (%)
	Multiple Choice Questions	Constructed Response Questions
Ethics, Regulation and ESG	0%	10%
Current and Integrated Topics	0%	10%
Models	8-12%	0%-10%
Institutional Asset Owners and Investment Policies	8-12%	0%-10%
Risk and Risk Management	8-12%	0%-10%
Methods for Alternative Investing	8-12%	0%-10%
Accessing Alternative Investments	8-12%	0%-10%
Due Diligence and Selecting Strategies	8-12%	0%-10%
Volatility and Complex Strategies	8-12%	0%-10%
Total	70%	30%

IMPORTANT DATES AND DEADLINES

Exam Month	Registration Opens	Early-bird Registration	Registration Ends	Exam Window
September, 2022	April 04, 2022	May 16, 2022	August 08, 2022	September 12 -23, 2022
March, 2023	October 03, 2022	November 14, 2022	February 06, 2023	March 20 - 31, 2023

Fee Structure

Particulars	Early-bird Registration (USD)	Standard Registration (USD)	Exam Re-take (USD)
Exam Registration	1150	1250	450
Program Enrollment(One-time)	400	400	-
Total Fees	1550	1650	450

To know more about Exam Fees, dates and scholarships, please refer to www.caia.org