CAIAA Membership Requirements

Updated October 1, 2024

CAIAA has three classes of Members: Affiliate, Full, and Retired. In addition, to any obligations relating to Membership set forth in other CAIAA policies, each Member must meet the following minimum requirements: 

  1. Affiliate Members are individuals who have taken and passed their CAIA Charter Level II exam, but do not have the necessary educational background needed for Full Membership.  
  1. An Affiliate Member may apply to become a Full Member if the Affiliate Member either (a) has obtained a bachelor’s degree (or the equivalent) and has one (1) year of professional experience in the field of alternative investment analysis or other regulatory, banking, financial, or related field, or (b) has four (4) years of professional experience in the field of alternative investment analysis or other regulatory, banking, financial, or related field. The Affiliate Member must also provide at least two professional references. 
  1. Full Members who are not currently employed full-time may request a change in status for Retired Membership, indicating the reason that the Full Member is no longer employed full-time (e.g., retired, unemployed, enrolled as a full-time student, no longer working in the industry, or, exclusively with prior authorization from CAIA, for some other extenuating circumstance) (the “Qualifying Reason”). If the Qualifying Reason is no longer applicable to a Retired Member, then the Retired Member will renew as a Full Member upon their next Membership renewal. 

 

To take advantage of the opportunities and benefits offered by CAIAA, an individual (the “Individual”) must meet certain education and professional experience requirements as set forth below: 

  1. If the Individual is seeking Membership as an Affiliate Member, the Individual 
  • has passed the CAIAA’s Level II exam, and 
  • does not meet the required experience (below) associated with Membership as a Full Member. 
  • provides the name and e-mail of two (2) individuals as professional references; 
  • agrees to abide by the CAIA Candidate and Member Agreement, including restricting use of the CAIA designation to Full and Retired Members whose Membership is in good standing and fully paid; and 
  • submits payment to join CAIAA after passing CAIAA’s Level II exam in March or September, and thereafter submits a renewal payment on or before the expiration date of May 31. 
  • agrees that upon their next renewal, they will contact CAIA to transition to Full Membership, if they meet Full Membership requirements, or terminate their Affiliate Membership until they do meet the requirements for Full Membership. 
     
  1. If the Individual is seeking Membership as a Full Member, the Individual 
  • has passed CAIAA’s Level II exam; 
  • has the required experience: 
    • holds a bachelor’s degree (or the equivalent) and has one (1) year of professional experience in the field of alternative investment analysis or other regulatory, banking, financial, or related field, OR
    • has four (4) years of professional experience in the field of alternative investment analysis or other regulatory, banking, financial, or related field, OR 
    • is a CFA charterholder in good standing; 
  • provides the name and e-mail of two (2) individuals as professional references; 
  • agrees to abide by the CAIA Candidate and Member Agreement, including restricting use of the CAIA designation to Full and Retired Members whose Membership is in good standing and fully paid; and 
  • submits payment to join CAIAA after passing CAIAA’s Level II exam in March or September, and thereafter submits a renewal payment on or before the expiration date of May 31. 
     
  1. If the Individual is seeking Membership as a Retired Member, the Individual 
  • has previously maintained Membership as a Full Member, 
  • is no longer fully employed (e.g., retired, unemployed, enrolled as a full-time student, no longer working in the industry, or, exclusively with prior authorization from CAIA, for some other extenuating circumstance) (the “Qualifying Reason”). and 
  • agrees that if the Qualifying Reason is no longer applicable to a Retired Member, then the Retired Member renew as a Full Member immediately upon their next Membership renewal. 
  • Member has already completed at least one year of full Membership. Candidates who has successfully completed their CAIAA Level II exam cannot join Membership at the Retired rate.  
     
  1. The term CAIA Member refers to an individual who: 
  • Fulfills the requirements as a Full or Retired Member as described above, and 
  • Renews on or before the expiration date of May 31, annually or bi-annually, depending on their selected Membership term, and 
  • Re-attests to the Membership Agreement, including the Code of Ethics at that time. 
     
  1. Should a CAIA Member not complete these requirements, they are no longer considered an active CAIA Member and are prohibited from presenting themselves as an active CAIA Member and using the CAIA marks not limited to but including social media and print material. 
     
  1. The term CAIA Charterholder includes those who have satisfied the requirements for CAIAA Membership as described above and are a current CAIA Member.  
     
  1. To retain the right to use the CAIA designation and CAIA marks, CAIA Charterholders must continue to satisfy the CAIAA Membership requirements.   
     
  1. Active CAIA Charterholders in good standing will be offered a CAIA Charterholder digital badge.  
     
  1. Individuals who do not continue to fulfill the CAIA Membership requirements may state that they have earned the CAIA Charter, but they are not a CAIA Charterholder in alignment with the Intellectual Property Policy and Use of the CAIA Marks.