FAQs

Here you'll find answers to some of the frequently asked questions we receive from Members, Candidates, and industry professionals. If you don't find what you need here, please get in touch.
How may I identify myself as a Candidate in the CAIA program?

If you are registered for Level I then you may identify yourself as a "Level I Candidate in the CAIA program." If you are registered for Level II, you may identify yourself as a "Level II Candidate in the CAIA program." You may not list "CAIA Level I" or "CAIA Level II" after your name, although you may indicate that you passed Level I or Level II. You may only use the CAIA designation after you have met the Membership Requirements in the Member Policy Manual.

What time do I need to arrive at the test center or check in for the Online Proctored Exam?

Arrive at the test center or begin your check in process, at least 30 minutes prior to your scheduled appointment to allow time for check-in procedures.  Late arrivals may not be permitted to sit for the exam.

How do I receive the early registration discount?

CAIA Charter Candidates who register during the early registration period automatically receive a discount pricing on exam registration fees only. To qualify for this discount, payment must be submitted by the early registration deadline. Exam retake fees are not eligible for the early registration discount.

What are the exam registration fees?

Please visit the Exam Registration Dates and Fees page to learn about exam registration fees.

How can I submit payment without a credit card?

Individuals with a U.S. bank account may choose the option to pay by eCheck during checkout. Individuals selecting eCheck will need to enter account holder’s name, account type, account number, and routing number during checkout when registering for your exam or joining/renewing Membership. Candidate questions or concerns should be addressed to candidate@caia.org, and CAIA Member questions or concerns should be addressed to member@caia.org.  

Candidates globally, during the Registration process, may select Pay by Check or Wire as your method of payment. Once completed, you may print an invoice directly from your CAIA account. Simply navigate to your Profile and click on My Invoices. Select the invoice and click on Details. You will then see a Print option to the right. Please note that your registration will not be completed, and you will not be able to schedule an exam appointment until payment is received.

If you are paying by check or money order, mail the check to:
The CAIA Association
PO Box 1296
Amherst, MA USA 01004
NOTE:  Checks must be in U.S. currency drawn from a US bank.
Please include the CAIA Candidate/Member name and invoice number on the check memo field.

For bank wire transfers:

Please refer to the instructions on your invoice. You may print an invoice directly from our website. Simply navigate to your Profile and click on My Invoices. Select the invoice and click on Details. You will then see a Print option to the right.

Alternatively, you may contact candidate@caia.org for information.

How do I reserve an exam seat or Online Proctored exam appointment?

Once you have purchased your exam, you will see a link in the “My Exam” tab from your main profile page that will allow you to schedule your exam appointment with our global testing provider, Pearson VUE. You may also use the “Schedule Your Exam” button on the CAIA Exam Schedule page of caia.org.

  • Log into your CAIA Account
  • Select "My Exam Info” from the links to the right of your personal information. On the next page click on “Click here to schedule your exam
  • This will bring you to the Pearson VUE scheduling page; click on the exam name in blue
  • Follow the rest of the blue prompts in the lower right corner all the way to the end-summary submit to ensure it is scheduled
  • You will receive a confirmation email when completed successfully

Neither the CAIA Association nor Pearson VUE can guarantee availability of appointments at any test center for any given exam or on a specific date.  Candidates are encouraged to schedule appointments as early as possible, as examination centers have limited capacity.  Appointments are on a first-come, first-served basis. If a Candidate’s preferred location and time are not available, it is solely the Candidate's responsibility to locate, and arrange for transportation to, an alternate testing center. Deferments will not be granted to Candidates who are unable to sit for the exam due to lack of preferred site availability or failure to schedule an appointment.

FAQs Regarding COVID-19

We are committed to supporting our Candidates and Members by providing timely and accurate information during the dynamic nature of the COVID-19 pandemic. As such, we will follow the Centers for Disease Control and Prevention (CDC) as well as government and WHO recommendations while working to minimize the impact on our Candidates and Membership. Click here for full FAQs.

Whom should I contact, and when, if I have a disability or require special accommodations?

Individuals with disabilities are entitled to a reasonable accommodation to ensure that they have full and equal access to the educational resources of CAIA.  Individuals with disabilities wishing to request a reasonable testing accommodation must contact the ADA Compliance Coordinator at accommodations@caia.org, at least six (6) weeks before the first day of the testing window for the level of exam he/she is registered. The request should be made after registering for the exam and before scheduling an exam appointment with the testing provider. For more information about how to request reasonable testing accommodations, see the Testing Accommodation and Grievance Policy in the Candidate Policy Manual on caia.org.

Can I pay for both exams in one transaction?

No. Each registration period is for one level-specific exam only. The Association does not allow prepayment for future exams.

Can I change my exam appointment to another time/location within the same exam window?

If you need to change your exam appointment, you may reschedule to another date and/or location within the same testing window without incurring an additional charge. You can reschedule up to 72 hours before your original appointment by contacting Pearson VUE. Keep in mind that appointments do fill up quickly and a reschedule can only be completed if there is an appointment available at your requested time/location.

  • Log into your CAIA Account.
  • Select "My Exam Info” from the links to the right of your personal information. On the next page click on “Click here to schedule your exam”.
  • This will bring you to the Pearson VUE scheduling page; click on the exam name in blue.
  • Click on the "Reschedule" button to the right.
  • Select a new date/time and follow the rest of the blue prompts in the lower right corner all the way to the end summary submit to ensure it is rescheduled.
  • You will receive a confirmation email when completed successfully.
Will I need a calculator for the exam?

Please refer to the Calculator Policy in the Candidate Policy Manual

What form of identification do I need to bring to the test center?

Please refer to the ID policy in the Candidate Policy Manual

How do I submit payment for exam registration?

Paying for registration is an online process. The preferred method of payment is by credit card. We accept American Express, VISA, MasterCard, and Discover. Candidates with a U.S. based bank account may elect payment by eCheck. Candidates may also opt to pay by check or wire transfer although these payment methods will take time to process, and exam registration is incomplete until payment is received. All fees must be paid in full by a single party. Partial, split, or multi-party payments are not accepted. 

What exam registration discounts are available?

We are pleased to offer a CAIA Level I and Level II exam discount to members of many of our Association. 

  • Current AIMA Members may receive a 25 percent discount for the CAIA Exam registration fee.
  • Current Members of other Association Partners may receive a 10 percent discount for the CAIA Exam registration fee.
    • Only one or the other discount can be used, not both.
    • Discount does not apply toward the enrollment fee portion of the payment.

If you or your company are a Partner Association Member and you want to register for the CAIA exam, please follow these steps:

  1. Create your CAIA account profile, if not already done so, at caia.org.
  2. Prior to registering for an exam, email discount@caia.org to notify us you are interested in registering for the current exam session and may qualify for a discount.
  3. Within the email, please include your CAIA account ID number and the name of the Association Partner that you or your company are a current Member of.
    • If you are not individually the Member, please ensure you confirm with your company if they are an Association Member prior to emailing us.
  4. Our team will review discount eligibility.
  5. Once approved and added to your CAIA account, you will receive an email letting you know that you can register, and the discount will automatically apply when you complete your CAIA exam registration online.

Note: CAIA Association does not grant retroactive discounts. Eligible Candidates must apply for the appropriate discount at the time of registration or forfeit said discount.

After registering for an exam, I realized I am eligible for discounted examination fees. Can I receive a refund of the difference in fees?

No, the Association does not grant retroactive discounts. Eligible Candidates must apply for the appropriate discount at the time of registration by completing the Discount request information or forfeit said discount(s).

What is the timeline for completing the program?

The Level I and Level II exams are offered twice each year, in March and September, giving Candidates the opportunity to complete the CAIA program within a single year, should they choose to do so. The Level I and Level II exams cannot be taken within the same exam window. CAIA Candidates have unlimited time to pass the Level II exam after passing Level I to qualify for the CAIA Charter.

Where can I take the exams?

The CAIA exams are administered via computer exclusively at proctored Pearson VUE testing centers around the world. Review the current list of exam locations to determine where the CAIA exams are offered. If a location does not appear on this list, the CAIA exams are not currently delivered there.  For more information and to view a list of current sites offering the CAIA exams, visit Exam Locations.

CAIAA now also offers an Online Remote Proctored Exam modality which allows Candidates to test remotely, in places such as their home or other secure location. Minimum computer equipment and internet connectivity requirements also need to be met. Please review the Online Proctored Exam FAQs, before considering this option.

I am currently registered to sit for an exam, but something has come up and/or my plans have changed. Can I postpone my exam to the next testing window?

No, registration is exam-specific and not open-ended. By registering for a single exam, you are committing yourself to a date- and time-specific exam, and you may not postpone from one testing window to another, e.g., you cannot change your September exam registration to March. If you are unable to sit for the exam for which you are currently registered, or if you do not pass, you will need to re-register to take the exam during a future exam window. The fee for retaking an exam in March 2023 is US$450, regardless if you sat for the exam the first time. Please note, the re-registration beginning with the September 2023 exam session will be US$795.

What is the procedure for reporting exam results? When should I expect to get my results, and how will I receive them?

Level I exam results are usually released within five weeks of the last examination day. Level II, which includes essays, takes more time. Level II results are generally released within eight weeks of the last examination day. 

When results are released, you will receive an email with notification that your results have been uploaded to your CAIA account, with instructions to retrieve them. Candidates are encouraged to keep their contact information up to date to ensure the timely receipt of exam results.

What is the exam refund policy?

The one-time program enrollment fee is non-refundable. The CAIA Association will grant refunds of exam registration and exam retake fees, but only if the refund is requested within 14 days of the date of purchase. Requests must be sent via an email to candidate@caia.org. For complete details, please refer to the Fee Schedule in General Policies. Exam registrations cannot be transferred to other individuals. 

What materials do I need to prepare for the CAIA examinations?

Access to the Official Digital CAIA Curriculum, via the Wiley Efficient Learning Platform, is included with your registration fee. In the “My Exam Info” tab from you CAIA account main profile page, you will see your access Pin code to redeem from Wiley.

There is also a short tutorial video available on the Curriculum and Study Tools page of our website demonstrating how to redeem the access code and navigation of the digital curriculum areas and tools.

The CAIA curriculum and CAIA study tools are the only preparation materials developed by the CAIA Association and are the Candidate’s best source of information regarding what content is eligible to be tested on the CAIA exams. All the content on the CAIA exams comes directly from the CAIA curriculum readings.

Can I bring a pencil or pen into the testing room, for use in working out calculations and taking notes?

Testing Center: Candidates are not permitted to bring their own writing materials (pens, pencils, or paper) into the testing room.  The test administrator will provide you with one erasable noteboard and a marker (no other writing materials or instruments are allowed).  If you fill up your noteboard during the exam and need another, you should raise your hand and the administrator will collect the noteboard and provide you with a replacement.  Your noteboard and marker will be collected at the end of the first section of the exam, and you will be provided with a clean noteboard and a marker at the start of the second section.  You may not remove the noteboard or marker from the testing room during or after the exam, and you must return them to the administrator after the exam.

Online Remote Proctoring: Candidates are not permitted to use writing materials (pens, pencils, or paper) during the online proctored exam. A Digital Whiteboard and online Scratch Pad are provided for use during the exam. You can use the whiteboard for scratch work, using tools such as text, shapes, colors, and zoom, as well as multiple formatting features. We strongly recommend Candidates practice using the digital whiteboard, prior to the exam. Practice with the OnVUE digital white board here / or view a tutorial here.

VOLUNTEER ACTIVITIES

Besides contributing to the Portfolio for the Future blog, what other volunteer opportunities are available to CAIA Members?

  • Assist with exam grading  

  • Assist with exam development 

  • Assist with curriculum development  

  • Assist with Member/Chapter events  

  • Promote the CAIA designation in my company/community 

  • Support those pursuing the CAIA designation by sharing your exam experience
  • Submit a Member Spotlight

Please contact member@caia.org for more information. 

How do I express my interest in these activities?

  • Log in to your CAIA account with your email and password and click on My Account in the top right corner of your screen. Choose the "My Volunteer Interests". From there you can click on the boxes next to the volunteer activities you are interested in. Once you have made your selections, click the Save button. Or, you may send an email to member@caia.org expressing interest.
JOURNAL OF ALTERNATIVE INVESTMENTS (JAI)

How do I get my annual digital JAI subscription?

  • Active CAIA Members are automatically subscribed. You do not need to do anything. You will receive a link to the digital version via email as soon as it becomes available. 

What if I already have a paid subscription to JAI?

  • The CAIA Association will renew your digital subscription when your current subscription expires. 

How do I get online access to the JAI, and JAI Practical Applications Reports?

  • Once you log in to your CAIA account, please select "Journal Access" from the Members navigation dropdown at the top of your screen and select the appropriate Access link from that page.  

  • Note that the online version of JAI is different from the digital version which is in an “e-zine” format, readable on your phone, tablet or desktop – accessible only via the link in the quarterly email you will receive. 

When is JAI published?

  • The Journal of Alternative Investments is published quarterly in March, June, September and December.

When will I receive my first JAI issue?

  • If you become a Member following the March LII exams, your first digital journal will be the Summer issue, which should arrive to your primary email address in July. 

  • If you become a Member following the September LII exams, your first digital journal will be the Winter issue, which should arrive to your primary email address in January. 

PAYMENT OPTIONS

How do I submit payment?

  • If you are looking to join or renew your Membership you will find the link to do so within your CAIA account profile. You may pay by credit card, check, or wire during the online checkout process. 

  • Individuals with a U.S. bank account may choose the option to pay by eCheck during checkout. Individuals selecting eCheck will need to enter account holder’s name, account type, account number, and routing number during checkout when registering for your exam or joining/renewing Membership.  

  • Questions or concerns should be addressed to member@caia.org.  

*Please note that we only accept checks from US domestic banks. 

If I select Pay by Check or Wire, is my Membership registration/renewal process complete?

  • Your Membership registration or renewal will not be considered complete until CAIA has received your dues payment and applied it to your account. 
PROFILE NAME

I noticed that there are two sets of name fields in my profile.  Where do you use my non-legal name as entered in my profile?

  • Your non-legal first name is typically used in our email messages. 

  • Your non-legal first and last names will be used for the CAIA Member directory. 

You are free to update your non-legal name in your profile at any time. 

Where is my Legal name used?

  • Your Legal name without the prefix is printed on your Charter. You may update your Legal name from within your profile. 

Can I add my other credentials to my Profile/Legal/Charter name?

  • The CAIA Charter reflects your legal name only. Only suffixes which are part of your Legal name, e.g., Jr, Sr, III, etc., will be printed on your Charter Prefixes e.g., Miss or Dr., and credentials e.g., PhD or CMT, should not be added as CAIA is unable to verify other credentials. 

How can I find other Members near me?

  • Finding other CAIA Members is convenient using our CAIA Member Directory. Simply log into your account to access this feature. Searches can be done by Name, Chapter, City, State, or Country. Having trouble logging in? Contact member@caia.org for assistance with your login access. 
OTHER PROFESSIONAL DESIGNATIONS

Can I use my CAIA Charter to fulfill continuing education requirements or credits for other professional designations?

  • CAIA Members with three or more years of industry experience are eligible for membership with the Chartered Institute for Securities & Investments (CISI). 

  • CAIA Members with at least three years of industry experience qualify for full membership (MCSI). 

  • CAIA Members with less than three years of industry experience are eligible to join as Associate (ACSI) members. 

APPLYING FOR CAIA MEMBERSHIP

I’ve passed the Level II exam.  What are the other requirements for CAIA Membership?

  • has the required experience of:
    • 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 charter holder in good standing;
  • provides the name and e-mail of two (2) people as professional references; 
  • agrees to abide by the CAIA Candidate and Member Agreement, including the use of the CAIA designation as an exclusive right for 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, and thereafter submits a renewal payment on or before the expiration date of May 31st.
  • Please keep in mind that we offer Affiliate Membership as an option if you do not meet the CAIA Membership requirements when you pass your Level II exam. Please contact member@caia.org to request an Affiliate Membership.

Do I have to apply for CAIA Membership within a certain period after passing my Level II exams?  If I wait too long, will I have to retake my exam?

  • There are no time restrictions on the validity of your exam results. To enjoy a full year of benefits, we encourage you to apply for Membership as soon as possible after passing the CAIA exams.  

Are there any disadvantages in delaying my Membership registration?

  • With Membership, comes the exclusive right to use the marks. To enjoy a full year of benefits, including the use of the CAIA marks, we encourage you to apply for Membership as soon as possible after passing the CAIA exams.  

Will I receive a certificate for completing the CAIA program?

  • No, we do not issue certificates for completing the exams. 
  • Once your CAIA Membership has been approved, you will receive a physical CAIA Charter. New Members who join within 6 weeks after the Level II exam grades are released, will receive an email with Charter order instructions. Members who join later than 6 weeks after the Level II exam grades are released, will receive Charter order instructions within the next quarter.

How much does Membership cost?

  • A one-year Membership costs US$350 and a two-year Membership is US$650. 
    • CAIA also offers an Emerging Market rate for Membership. A one-year Emerging Market Membership costs US$100 and a two-year is US$200.  At this time, the emerging market rate is based on the MSCI Emerging Market Index.

Do my references have to be CAIA Members?

  • Membership in the CAIA Association is not a requirement to serve as a reference. 

  • The only requirement for your references is that they have relevant information regarding your professional experience. 

Can you tell me who will be contacting my professional references, so I can alert them?

  • We do not contact professional references on a routine basis. However, we reserve the right to contact all references if we perform a random audit. 

I completed the Membership application but wanted to check my answers/make some changes. What should I do?

  • Once the Member application is completed, you will not be able to move back to review the information or to make any changes. 

  • If you would like to change or review your professional reference information, please send your request to member@caia.org

  • All other updates may be made in your profile by logging into your CAIA account, then clicking on My Account in the top right corner of your screen to access your profile. 

INVOICES AND RECEIPTS

My employer requires an invoice for my Membership dues. What should I do?

  • Pending invoices can be printed directly from your account at caia.org. Log in to your CAIA account with your email and password and click on My Account in the top right corner of your screen to access your profile. All past invoices will be stored on your profile under the “My Invoices” section. 
  • If you need an invoice for submission to your employer, please complete the Membership application or renewal process, and select Pay by Check or Wire when you reach your shopping cart. Your unpaid invoice will be available to be printed or saved from within your profile under the “My Invoices” tab. 

I need a receipt for payment. What should I do?

  • Receipts can be printed directly from your account at caia.org. Log in to your CAIA account with your email and password and click on My Account in the top right corner of your screen to access your profile. All past invoices will be stored on your profile under the “My Invoices” tab.
RENEWING YOUR MEMBERSHIP

When do I need to renew my Membership?

• Regardless of when you passed your Level II exam, your Membership expires on May 31. You may renew at any time prior to May 31. 
• When you log in to your account, you will have access to the renewal link in the gray box at the top of your user profile.

How do I renew my Membership?

• Log in to your account at CAIA.org. After logging into the CAIA website, click on My Account in the top right corner. From there you will see Renew Membership in orange within the gray box at the top of your profile.

What happens if I don’t renew my Membership on time?

  • Please keep in mind that only CAIA Members in good standing have the exclusive right to use the CAIA designation.  
  • To enjoy a full year of benefits, we encourage you to renew your Membership on time.  Please also keep in mind that we do not prorate Membership dues. Regardless of when you first apply for or renew your Membership, your Membership always expires on May 31.

Can I apply for Affiliate Membership?  Do you offer any Membership options at a reduced cost?

• CAIA Affiliate Membership is offered to eligible new Members only. The annual Membership cost for an Affiliate Membership is US$175. See Affiliate Membership and Retired Membership Status for additional details.

We offer Retired Membership status as an option for renewing Members who are unemployed, retired, full-time students, leaving the industry, or experiencing other extenuating financial or personal circumstances, and are unable to pay the full Membership fee. The Retired Status Membership is US$175. See Retired Membership Status for additional details.

I lost my job and can no longer afford to pay the full Membership fee. Do you offer any options that would allow me to continue my CAIA Membership?

• We offer Retired Membership status at a reduced cost to renewing Members who are unemployed, retired, returning to school, leaving the industry, or experiencing other extenuating financial or personal circumstances and are unable to pay the full Membership fee. Please see Retired Membership status for details.

AFFILIATE MEMBERSHIP

Who is eligible for CAIA Affiliate Membership?

Affiliate Membership is reserved for CAIA Candidates who have passed the Level II exam and are working to meet the requirements for full Membership. Affiliate Membership is designed for Candidates who hold a bachelor's degree, or the equivalent, and have less than one year of professional experience. In the absence of a bachelor’s degree, Candidates who have fewer than four years of professional experience are also eligible for Affiliate Membership. 

Professional experience is defined as full-time employment in a professional capacity within the regulatory, banking, financial, or related fields.  

Once Affiliate Members have acquired enough experience, they are required to apply for full CAIA Membership to obtain the CAIA Charter and use the CAIA designation. To be considered for Affiliate Membership status, please contact member@caia.org for further instructions.

What are the benefits of CAIA Affiliate Membership?

Affiliate Members have access to CAIAA’s Membership benefits except the use of the CAIA marks and receipt of a CAIA Charter.

Note: Only full CAIA Members may use the CAIA Marks. Affiliate Members are thus not allowed to use the CAIA Marks until they become full CAIA Members.  

RETIRED MEMBERSHIP STATUS

Who is eligible for CAIA Retired Membership?

Retired Membership is reserved for active CAIA Members who are unemployed, retired, full-time students, leaving the industry, or experiencing other extenuating financial or personal circumstances and are unable to pay the full Membership fee
• During Membership renewal, active Members may apply for Retired Membership through the renewal process.

What are the requirements of Retired Membership Status?

• To qualify for Retired Membership Status, Members are required to do the following: 

  1. Select the Retired Membership option when renewing your Membership.  

  1. Agree on an annual basis to abide by the Member Agreement.  

  1. Submit payment of US$175 for the annual Retired Membership fee.

• CAIA does not make distinctions between Retired Status Members and full CAIA Members.  Retired Status Members enjoy all the benefits and rights of full CAIA Membership. 

What are the benefits of Retired Membership?

  • Use of the CAIA designation 
  • Access to CAIA’s global community of over 13,000 Members in more than 100 countries who represent hundreds of employers 
  • Online access to The Journal of Alternative Investments, the official publication of the CAIA Association 
  • Monthly access to the Chronicles Newsletter – carefully curated thought leadership designed to inform the capital allocation process
  • Exclusive access to Follow-On Readings – readings that let you reinvest in your CAIA education
  • Portfolio for the Future™ Knowledge Base, CAIA’s comprehensive library of research on alternative investments 
  • Access to research resources curated by topic, showcasing the expertise of our global community
  • CAIA Job Board postings for which employers around the world actively seek CAIA Charterholders 
  • CAIA’s Media Center for instructive videos, live presentations, and recordings on a range of alternative investment topics 
  • Chapter events 
  • Monthly Member Update 

How much does CAIA Retired Status Membership cost?

The annual Retired Status Membership fee is US$175.

CAIA Blog

As a CAIA Member, how do I get access to the CAIA blog?

• While the CAIA blog, Portfolio for the Future, is publicly accessible, CAIA Members in good standing are automatically subscribed to the bi-weekly brief which will provide digests of the most recent posts. 

I see that CAIA Members frequently contribute to the CAIA blog, Portfolio for the Future. How can I submit a piece for publication?

• One of the goals of the CAIA blog is to introduce new voices to thought leadership in alternative investments. Members may submit their work at content@caia.org for consideration as a guest contributor. 

How do I submit payment for my Membership dues?
  • If you are looking to join or make a dues payment you will find the link to do so in a box at the top of your profile.  

  • Individuals with a U.S. bank account may choose the option to pay by eCheck during checkout. Individuals selecting eCheck will need to enter account holder’s name, account type, account number, and routing number during checkout when registering for your exam or joining/renewing Membership. 

  • Alternatively, you are welcome to pay by credit card through the checkout process, or you may select the Pay by Check or Wire option at checkout.  

    •    Please note that we only accept checks from US domestic banks.  

How long do I have to wait to start using the CAIA designation?
  • After submitting payment, you are now officially a CAIA charterholder in good standing and have earned the right to use the CAIA designation.  

  • After submitting payment, you will receive an email confirmation that your Membership application has been approved.  

  • Please refer to the Intellectual Property Policy for details on the usage of the CAIA marks, available in the Policies section on our website.

CHARTER

Do I get a diploma/certificate for earning the CAIA designation?

  • A personal Charter will be sent to your primary address within the first quarter following your joining the CAIA Association as a full Member. 

  • Important: Please be sure to keep your contact information updated so that we can successfully deliver your CAIA Charter. To update your address, please log in to your CAIA account with your email and password and click on My Account in the top right corner of your screen to access your profile.

When will my Charter be shipped?

  • Your Charter should arrive approximately within one business quarter after you join. Please ensure your primary mailing address can accommodate an oversized, inflexible envelope so that your Charter is successfully delivered to you. 

I lost/accidentally threw away/ruined my Charter. Can I get a scanned copy of the Charter? How can I order another copy of my Charter?

  • Since we do not keep copies of your Charter on file, it is not possible for us to provide you with a scanned copy. If you would like to have your Charter reprinted for a fee, please email your request to member@caia.org.  
DESIGNATION/MARKS

When can I start using the CAIA designation?

  • Once your Membership application is confirmed by an email sent to your primary email address, you have earned the right to use the CAIA designation.

Do I have to renew my Membership to continue using the CAIA designation?

  • Yes, only CAIA Charterholders in good standing have the exclusive right to use the CAIA designation. 

  • If you allow your Membership to lapse, you will have forfeited the right to use the CAIA designation. 

Can Affiliate Members or Retired Members use the CAIA designation?

  • Affiliate Members have not yet fulfilled their Membership requirements and may not use the CAIA designation. 

  • Members who have renewed as Retired Members have the right to use the CAIA designation. 

What is the proper way to use the CAIA marks?

  • You may use CAIA after your name with or without the registered marks. Proper: Jane Smith, CAIA ® -OR- Jane Smith, CAIA 

  • For details on the proper usage of the CAIA marks, please refer to theIntellectual Property Policy in the Policies section of our website.

VERIFICATION of MEMBERSHIP

Do you offer Digital Badge verification?

We are pleased to offer an easy way to both help you display a visual depiction of your accomplishment and enable easy verification for employers and clients. In addition to credibility, your digital badge conveys critical information, such as what it takes to earn the certification, key skills you’ve demonstrated, and when you earned the certification. A digital badge is a web-enabled version of your Charter, which can be verified online in real-time. Since it is digital, it can be shared across the internet for maximum visibility and recognition.

Find out more about how to access and use your Digital Badge here.

Can you send me documentation regarding my CAIA Charter? 

  • A verification letter is available for an active Member and can be found directly within the Member Account Profile. Once logged in, go to My Profile and click on the Member Verification Letter tab for a downloadable pdf.

  • If necessary, we send email verifications for your CAIA designation at the request of a CAIA Member. This email includes the date you became a Member, the dates you passed the Level I and Level II exams, as well as the date your Membership expires. 

Verifications for Employers and Employment Screening

If you need to complete a verification for an employment screening or background check, please send a request along with a signed release from your candidate to the appropriate area of CAIA:

  • For verifying a CAIA Membership, send your request to member@caia.org
  • For verifying a Candidate’s enrollment in the CAIA Charter program, send your request to candidate@caia.org
  • For verifying completion of the Fundamentals of Alternative Investment course, send your request to fundamentals@caia.org.

NOTE: If you need to complete a verification for an employment screening or background check, please complete the form here

What areas are covered in the exams, and what is the exam structure?

The Level I exam is composed of 200 multiple-choice questions, which measure Candidates’ knowledge of the CAIA Level I curriculum. The latest iteration of the Level I curriculum introduces Candidates to alternative asset classes, discusses potential benefits of allocating to actively managed investment strategies while also featuring new and extended topics that better reflect the role of private capital in today’s institutional portfolios. Candidates are asked to distinguish among various alternative investment strategies and products and to understand the difference between alternative investments and traditional products. Specific knowledge areas include: professional standards and ethics, introduction to alternative investments, real assets, hedge funds, private equity, and structured products.

The Level II exam is composed of 100 multiple-choice questions and three sets of constructed-response (essay-type) questions, which measure Candidates’ knowledge of the CAIA Level II curriculum. The latest iteration of the Level II curriculum builds on Candidates’ understanding of various asset classes with a focus on asset allocation in a multi-asset framework and various methods for accessing alternative asset classes. Additionally, Level II will include content about the broadening investor base for alternative investments and the tools now available for allocators. Through the Level II curriculum, candidates gain deeper understanding of risk management techniques and tools as well as various structured products. Specific knowledge areas include: Ethics, Regulation, and ESG, models, institutional asset owners and investment policies, risk and risk management, methods for alternative investing, accessing alternative investments, due diligence and selecting strategies, volatility and complex strategies, current and integrated topics.

FAQs Regarding COVID-19

We are committed to supporting our Candidates and Members by providing timely and accurate information during the dynamic nature of the COVID-19 pandemic. As such, we will follow the Centers for Disease Control and Prevention (CDC) as well as government and WHO recommendations while working to minimize the impact on our Candidates and Members. Click here for full FAQs.

What is the CAIA program?

The CAIA program consists of a two-tier exam process through which one may earn the CAIA charter, the designation for alternative investment professionals offered by the CAIA Association. The CAIA charter is the global mark of distinction in alternative investments.

Q: How do I change the primary email address associated with my CAIA account login credentials?

To update your email address or any other personal information such as phone number and mailing address, log into your account using the current email associated to your account - even if you are no longer using that email. The account login does not check for whether the email is active, only if it is associated to your account. Once logged in, click on My Profile in the My Account Links Box on the right side of your screen. See below. Click the edit icon next to the information you’d like to update. Be sure to click Save before exiting screen. If you need assistance, email member@caia.org or candidate@caia.org.

To update your email address or any other personal information such as phone number and mailing address, log into your account using the current email associated to your account - even if you are no longer using that email. The account login does not check for whether the email is active, only if it is associated to your account. Once logged in, click on My Profile in the My Account Links Box on the right side of your screen. See below. Click the edit icon next to the information you’d like to update. Be su
Q: How do I update my name or company information within my CAIA profile?

To update your name or company information, log into your CAIA profile. Under Profile Details at the top of your screen, click on Edit Name and Company Info. Once updates are made, be sure to click Finish to save the changes before exiting.

To update your name or company information, log into your CAIA profile. Under Profile Details at the top of your screen, click on Edit Name and Company Info. Once updates are made, be sure to click Finish to save the changes before exiting.
I am currently a registered Candidate and have already scheduled my test center appointment. Will I be able to switch to the OP exam?

Yes, you can. The opportunity to select the OnVue OP exam is offered after registration through your CAIA Exam Registration Confirmation Email. 

  • If you have already scheduled your exam at a test center: Please cancel your existing test center appointment PRIOR to opting in for an online proctored exam.
  • Please log in to your CAIA profile and choose the online proctored option or click here. 
I am going to register for my exam. Will I be able to select the OP option?

Once you register for the exam, your CAIA Exam Registration Confirmation email will provide instructions to select the OP option.  

I prefer to test in a test center. If my exam is cancelled by Pearson VUE due to a site closure, will I be able to move to an OP exam?

Yes, you will be able to select the OP exam should your physical test center appointment be cancelled, assuming the OP window is still open. Appointment availability may be limited.

If I choose the OP exam and change my mind, can I go back to the test center option?

No. It is important to be sure of your decision as once you have chosen the OP exam you will be unable to revert to a test center exam option. 

What social distancing and safety measures may still be in place at the Pearson VUE test centers due to COVID?

Your safety is still our top priority. We continue working closely with Pearson Vue to monitor situations and follow all global and local guidelines. Pearson VUE’s website is frequently updated with the latest information and they have implemented these health and safety measures at all Pearson VUE owned test centers:

  • Make hand sanitizer available in the waiting area and prior to entering the testing room
  • Increase cleaning and disinfecting regimens in between all testing appointments
  • Provide tissues to candidates upon arrival at the test center
  • Permit candidates to wear a mask or disposable gloves if they choose
  • Remind candidates to wash their hands or utilize hand sanitizer upon arrival at the test center
  • Enforce social distancing recommendations by limiting seat capacity at Pearson VUE centers to half of normal capacity
Under what conditions will Candidates be eligible for a refund?

CAIA’s refund policy may be found here in the Fee Schedule.

In the unlikely event that our exam administrator Pearson VUE is unable to administer exams during the scheduled exam window, in total or in part, CAIA will consider various options for Candidates so that that they may test in alignment with our policies as described in the Candidate Policy Manual.  Any corrective actions or remedies due to exam day disruptions are made in CAIA’s sole discretion.

Are CAIA-approved exam prep providers still able to provide services during COVID disruptions?

If you have elected to supplement your preparation with the content and/or services of a third-party prep provider, please contact them directly for more information about their offerings. CAIA’s current understanding is that authorized prep providers continue to offer prep services for CAIA exams.

CAIA authorizes exam prep providers globally, as described on our website. The CAIA curriculum and related study materials found on the Curriculum & Study Tools page are the only preparation resources developed by the CAIA Association®. CAIA does not endorse, promote, review, or warrant the accuracy of the courses, products, materials, and/or services offered by any third-party preparatory program provider of CAIA Association–related information, nor does it endorse any pass rates claimed by third-party preparatory program providers. 

If I am unable to sit for the March 2023 exam due to COVID, will I be required to pay again to register for the September 2023 exam?

In the unlikely event that our exam administrator Pearson VUE is unable to administer exams during the scheduled exam window, in total or in part, CAIA will consider various options for Candidates so that they may test in alignment with our policies as described in the Candidate Policy Manual. Any corrective actions or remedies due to exam day disruptions are made in CAIA’s sole discretion.

What is the current curriculum?

There are no changes to the core curriculum for the March and September 2023 exams. Information about the current exam curriculum is available here.

For the Level II Exam: There will be updates to the Emerging Topics list of article readings for the 2023 exam sessions. Candidates should download the most recent version from the Curriculum and Study Tools page of our website, after completing registration.

Please note that the CAIA Level I and Level II Curriculum are only available via our digital platform and will be available to you for 18 months from your date of purchase.

Options for Curriculum Access (Available for Level I and Level II)

  • Digital Platform access is included with registration. Your access PIN code is provided in the “My Exams” tab, from your CAIA account main profile page.
  • Print Version (three soft cover volumes) can be purchased separately for an additional fee.

Please use the link provided on the Curriculum and Study Tools page of our website.

If I spent 200 hours already studying the 4th edition, how much time will I need to allocate to this new curriculum?

The amount of time Candidates need to feel prepared for their exam varies widely. We encourage Candidates to review the new curriculum, and study guide to plan their studies to better understanding your level of understanding of the material.

To learn more about the Online Proctored exam experience, please visit the handy links below:
  • Test with Confidence – OP exam overview by our online exam provider, OnVue.
  • Choosing the exam format that is right for you
  • Tip & Tricks for a successful online proctored exam
  • Digital White Board Tutorial and Tips. Note: Digital whiteboard contents will now be available for the duration of your CAIA exam, throughout both sections, assuming no connection interruption. This is a change from previously provided information.
  • Need Accommodations? Check here for a full list of comfort aids from Pearson VUE.
  • Exam Day Support - There is a chat function within the exam where you will be able to ask your proctor for assistance. However, they will not answer exam content-specific questions. We also highly recommend you contact CAIA at candidate@caia.org immediately following your exam to notify CAIA of your experience.
When will the OP exam window take place in March 2023?

The Level I OP exam window will be March 6 – 12, 2023.

The Level II OP exam window will be March 20– 26, 2023.