The Chartered Alternative Investment Analyst <( CAIA ) (pronounced "KAI-ah") is the professional appointment offered by the CAIA Association for investment professionals who complete the study program and pass two checks. The "alternative investment" industry is characterized as dealing with asset classes and investments other than standard equity or fixed income products. Alternative investments may include hedge funds, private equity, real assets, commodities, and structured products. The CAIA curriculum is designed to provide financial professionals with a broad knowledge base in alternative investments.
The Alternative Investment Analysts Association was founded in 2002 by the Alternative Investment Management Association (AIMA) and the International Securities and Derivatives Market Center (CISDM). The CAIA Association is an independent, not-for-profit global organization committed to education and professionalism in alternative investment. The CAIA designers are required to maintain membership in the CAIA Association and adhere to professional and ethical standards. Currently, there are more than 9,000 CAIA members.
The Journal of Alternative Investments is the official publication of the CAIA Association. JAI is one of nine journals published by Institutional Investor Journals.
Video Chartered Alternative Investment Analyst
Curriculum
The CAIA program is divided into two levels. 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 ethical issues and professional behavior. Candidates can take exams from anywhere in the World.
Level I
The CAIA Level I exam consists of 200 multiple choice questions. The Level I curriculum covers eight topics, listed below. The CAIA Level I candidate is assumed to have a basic graduate understanding of basic concepts of traditional finance and quantitative analysis.
The Level I curriculum includes:
- Professional Standards and Ethics
- Introduction to Alternative Investments
- Real Assets
- Hedge Funds
- Personal Equity
- Structured Products
- Risk Management and Portfolio Management
The CAIA Association recommends that candidates devote 200 hours or more to study for the preparation of the Level I exam.
Level II
The CAIA Level II exam consists of 100 multiple choice questions, plus three sets of prepared-answer questions (essays). The Level II curriculum is broadly divided into two parts: alternative investment and Core and Integrated Topics. Candidates should apply skills and knowledge from Level I to gain a deeper understanding of the issues involved in each alternative investment field. The Core Text and the Integrated Topics are updated annually to reflect the latest industry and research developments.
The Level II curriculum includes:
- Professional Standards and Ethics
- Institutional Asset and Investor Allocation
- Personal Equity
- Real Assets
- Commodities
- Hedge Funds and Managed Futures
- Structured Products
The CAIA Association recommends that candidates devote 200 hours or more to study for the preparation of a Level II exam.
Historical passing rate
Grading starts after the check window closes, and Level I results are posted within three weeks of the final exam day. The results of the Level II exam are available within six weeks of the last exam day, due to the need to assess the essay question.
The percentage of candidates who pass the CAIA exam changes from exam to exam. By 2017, more than 37% of candidates can pass the Level I and Level II CAIA trials in the first trial.
Source of the article : Wikipedia
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