The CAIA Association views exam misconduct and other inappropriate conduct within the program as a violation of a candidate's responsibilities. The CAIA Association is committed to protecting the integrity of the CAIA Charter.

The CAIA Association considers its examination questions to be its intellectual property and considers unauthorized dissemination or receipt of that material to be an infringement on its rights. In no case has the CAIA Association made current examination questions public nor has the CAIA Association authorized the publication or dissemination of any current or past examination questions.

Misconduct includes knowledge by a candidate of past or present examination questions prior to sitting for the examination. Candidates must not receive information that they know or should have known contains actual examination questions in whole or in part, verbatim or redacted.

Misconduct also includes directly or indirectly assisting others in obtaining knowledge of past or present examination questions. Candidates must not disseminate information that they know or should have known contains actual examination questions in whole or in part, verbatim or redacted, directly or indirectly, to candidates or to others.

The CAIA Association considers any means used during the examination other than those explicitly permitted by CAIA to be acts of fraud and misconduct. Inappropriate means include but are not limited to:

1. Misrepresenting identity
2. Receiving or making any unauthorized communication during the exam
3. Using unauthorized materials (electronic or otherwise) during the exam
4. Bringing materials into or removing materials from the exam room
5. Using a recording device (sound, image, or other) during the exam
6. Not clearing calculator memory prior to the start of the exam
7. Using a cellular (mobile) phone, laptop, small computer, PDA, camera, or any other device that stores or can store information during the exam (except a cleared and authorized calculator)
8. Removing or attempting to remove test content from the test center. Under no circumstances may any part of the test content viewed during a test administration be removed, reproduced, and/or disclosed in any form by any means -- verbally, in writing, or electronically -- to any person or entity at any time. This includes, but is not limited to, discussing or disclosing such test content via email, chat room, message board, social or professional networking service, or any other forum. This disclosure prohibition applies before, during, and after any administration of the CAIA exams.

Candidates and members must report any suspicious activity to misconduct@caia.org, or by calling our anonymous misconduct tip voicemail box: (413) 549-3377. Our policy is to keep the names of individuals reporting such information confidential.

Upon review, should the CAIA Association Board of Directors determine that a violation has occurred, it will recommend disciplinary action. The candidate may accept the conclusion and penalty, or ask for an appeal. In the case of an appeal, the candidate alone must represent himself before the Board of Directors and accept its recommendation as final.

Those found to be in violation of one or more points of misconduct may be subject to the following penalties at the sole discretion of the Board of Directors.

1. Invalidated exam
2. Censure
3. Suspension from the program for a period of time to be determined by the Board
4. Expulsion from the program
5. Legal action