Last-Minute CAIA Level I Study Plan: How to Maximize Your Final Weeks
- Dimitri Dangeros, CFA, CAIA
- Jul 15
- 4 min read
Updated: Aug 5
With the CAIA Level I exam just around the corner, candidates often find themselves wondering: Have I done enough? What should I focus on now?The final weeks before exam day are critical — and can make the difference between passing and facing a retake. This article outlines a structured, efficient last-minute study plan designed for candidates who want to maximize their chances of success, even if they feel behind schedule.
1. Assess Your Current Position — Don’t Skip This Step
Before diving into another round of study, take one full-length practice exam under timed conditions.
Why?
It highlights your strengths and weaknesses.
It gives you a realistic assessment of your readiness.
It builds exam-day stamina.
After finishing, spend significant time reviewing your answers — both correct and incorrect. This review is often more valuable than the exam itself.
2. Prioritize High-Weight Topics First Last-Minute CAIA Level I Study Plan , CAIA Level I
The CAIA Level I exam covers a broad curriculum, but not all topics are created equal. According to the CAIA Association’s exam weighting:
Professional Standards & Ethics: 15-25%
Introduction to Alternative Investments: 20-28%
Real Assets: 11-17%
Hedge Funds: 11-17%
Private Equity: 11-17%
Structured Products: 11-17%
Risk Management & Portfolio Management: 11-17%
Actionable Tip:Focus first on Ethics and Introduction to Alternative Investments — mastering these can secure a solid portion of your score. Then, move to the topics with personal low scores from your practice exam. Last-Minute CAIA Level I Study Plan , CAIA Level I
3. Review Key Formulas and Definitions Daily
CAIA Level I heavily tests on key definitions, ratios, and formulas — particularly in quantitative topics like risk measures, performance metrics, and valuation techniques.
Your Daily Ritual:
Spend 15-20 minutes reviewing flashcards with formulas and key terms.
Write out formulas from memory every day — this helps retention.
Focus on understanding when and how to apply them, not just memorization.
4. Master Ethics — The Easy Points You Can’t Afford to Miss
Ethics questions are usually straightforward but unforgiving if misunderstood. They’re often the deciding factor for borderline candidates.
Ethics Quick Tips:
Know the Standards of Professional Conduct inside and out.
Practice scenario-based questions — Ethics questions often involve situational judgment.
Remember, in Ethics, “best practice” is often the right answer, even if it's stricter than common practice.
Consider allocating 20-30 minutes daily to Ethics review. It pays off.
5. Active Recall & Spaced Repetition — The Study Techniques That Work
At this stage, passive reading is inefficient. Focus on methods scientifically proven to enhance retention:
Active Recall: Self-testing with flashcards, quizzes, and question banks.
Spaced Repetition: Review materials at spaced intervals (daily, every other day, weekly) to cement knowledge.
6. Practice Questions: Quality Over Quantity
It’s tempting to rush through as many questions as possible, but the key is deliberate practice — meaning you thoroughly review every question you answer.
Best Practices for Question Practice:
Aim for 30-50 questions daily, focusing on weak areas.
After each set, review not just the correct answer, but why the other options were wrong.
Use mixed-topic quizzes to simulate the exam’s unpredictability.
7. Mock Exams: Simulate the Real Thing
You should complete at least two full-length mock exams in the final weeks.
Benefits of mock exams:
Build stamina for the 4-hour testing window.
Familiarize yourself with computer-based testing format.
Identify pacing issues — a common pitfall.
Mock Exam Tip: Take your mocks under real conditions: timed, no interruptions, exam-like environment.
8. Time Management on Exam Day — The 90-Second Rule
With 200 questions in 4 hours, you have approximately 72 seconds per question. That’s tight.
Exam Strategy:
If a question stumps you after 90 seconds, flag it and move on.
Prioritize easy wins first — then circle back to tougher questions.
Stay calm — panicking costs more time than skipping and returning.
9. Final Week Schedule — Sample Plan
Day | Focus |
Monday | Full mock exam + review |
Tuesday | Review Ethics + weak topics + practice questions |
Wednesday | Review formulas + structured products + practice set |
Thursday | Second mock exam + review |
Friday | Ethics + flashcards + active recall drills |
Saturday | Light review + confidence-building exercises |
Sunday | Rest or light ethics review — avoid burnout |
10. Mindset & Wellness — Don’t Neglect This
In the final stretch, your mental state matters as much as your knowledge.
Sleep well — aim for 7-8 hours, especially the night before the exam.
Eat balanced meals — avoid heavy carbs that cause energy crashes.
Stay active — short daily exercise helps reduce stress.
Positive self-talk and confidence-building are not optional — they’re essential. Trust your preparation.
Final Thoughts: You’re Closer Than You Think
Passing the CAIA Level I is absolutely within reach — even if you feel pressed for time. The key in these final weeks is structured, smart study, not frantic cramming.
Focus on high-yield topics, practice actively, manage your exam stamina, and use the right tools.
And remember — thousands of candidates have been right where you are. They passed. You can too.
Unlock your potential with our comprehensive CAIA® practice exams and study packages!
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