Chartered Alternative Investment Analyst Association®

Exam Information

In the CAIA program, candidates' knowledge is assessed through two exams, administered biannually at computerized test centers around the world.


Fall Exam Registration is Open.

Level 1 Exam: September 14-25, 2015

Level 2 Exam: September 7-18, 2015

Exam Dates
Exam Cycle Registration Opens Early Registration Deadline Registration Closes Level I Exam Window Level II Exam Window
September 2015 April 1, 2015 May 13, 2015 August 5, 2015 September 14-25, 2015 September 7-18, 2015
March 2016 October 1, 2015 November 12, 2015 February 4, 2016 March 14-25, 2016 March 7-18, 2016


Exam Fees

All fees are in U.S. dollars. For details on fee policies, see the Fee FAQs.

First-Time Level I First-Time Level II Both Levels
Early* Standard Early* Standard Retake
Program enrollment $400 $400 $0 $0 $0
Exam registration $1,150 $1,250 $1,150 $1,250 $450
$1,550 $1,650 $1,150 $1,250 $450

* The CAIA Association offers a US$100 discount on first-time exam registration fees for candidates who register before the early registration deadline. 

**Employees of AIMA and CISDM member companies receive a discount on first-time exam registration fees. Please confirm membership with AIMA and CISDM, both co-founders of the CAIA Association, to obtain the discount.

The CAIA Association offers a 10% discount to members of partnering trade associations. Please see the CAIA Association Partners page for a complete list of applicable associations.