CAIA stands for Chartered Alternative Investment AnalystSM. Offered by the CAIA Association, the CAIA Charter is globally recognized as the benchmark for analysis, application, and standards of practice in the alternative investments arena. Alternative investments include real estate, infrastructure, natural resources, commodities, hedge funds, private equity, collateralized debt obligations, and credit derivatives.

To earn the CAIA Charter, you must take and pass the Level I and Level II CAIA exams. There are no degree or work requirements for taking the exams, but after passing both, you must earn or finish earning a bachelor’s degree or equivalent and have at least 1 year of professional experience, or complete a minimum of 4 years of professional experience without a degree. Additionally, you have to join the CAIA Association and submit two professional references to the association.

Professionals aiming to develop a deep level of knowledge and demonstrated expertise in alternative investments and their contribution to a diversified portfolio should pursue the CAIA Charter. This includes:

• Asset Allocators

• Risk Managers

• Analysts

• Portfolio Managers

• Traders

• Consultants

• Business Development/Marketing Professionals

• Operations Professionals

• Advisors

The CAIA Charter is granted upon completion of two levels of qualifying exams, combined with relevant professional experience. CFA charterholders may be eligible for a CAIA Level I exam waiver. See eligibility requirements on the CAIA Association website for more details.

A minimum of 200 hours of study time is recommended for each level of the exam. The Level I and Level II exams are offered twice each year, in September and March, allowing candidates the opportunity to complete the CAIA program within a single year if they choose to do so.

After passing the Level II exam, you are eligible, with relevant professional experience, to join the CAIA Association as a Member and receive the CAIA Charter. You will be part of an elite group of more than 13,000 professionals worldwide. Only after joining the Association are you eligible to add the CAIA designation to your professional profiles.

The Level I exam consists of 200 multiple-choice questions, while the Level II exam includes 100 multiple-choice questions and three sets of constructed response (essay-type) questions. Both exams are computer-based and are administered at designated testing centers worldwide.

To maintain the CAIA Charter, members must complete Continuing Education (CE) requirements set by the CAIA Association. This ensures that charterholders stay up-to-date with the latest developments in the alternative investments industry and continue to adhere to professional standards.

The CAIA Association is a global professional body dedicated to promoting and maintaining the highest standards of education, integrity, and professional excellence in the field of alternative investments. It supports its members through educational programs, networking opportunities, and resources to advance their careers in alternative investments.