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

Level I results are usually released within three weeks of the last examination day. Level II, which includes essays, takes more time. Level II results are generally released within six weeks of the last examination day. 
When results are released, you will receive an email with notification of your results.  Candidates are encouraged to keep their contact information up to date to ensure the timely receipt of exam results.

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.

CAIA Charter Candidates who register during the first six weeks of any registration period automatically receive a US$100 discount 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.

Once you have purchased your exam, you will receive a confirmation email that will include a link 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 Programs>Charter Candidates>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 to ensure it is scheduled
• You will receive a confirmation email when completed

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.

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 Programs>Charter Candidates> 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.
• Follow the rest of the blue prompts in the lower right corner all the way to the end summary to ensure it is scheduled.
• You will receive a confirmation email when completed.

ID policy

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.

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

• Paid invoices can be printed directly from your account at caia.org. 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 your email address in the top right corner of your screen to access your profile. All past invoices will be stored on your profile under the “Your 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. 

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 your email address in the top right corner of your screen to access your profile. All past invoices will be stored on your profile under the “Your Invoices” section.

The SET is a CAIA Member benefit offered as a tool for Members to stay current with the CAIA curriculum. The SET includes a series of multiple-choice and essay questions designed to familiarize Members with CAIA curriculum updates. 

What is the purpose?

• The questions are based on recent CAIA Level II curricula and are intended to provide Members with a means for assessing their understanding of current policy, practice, and/or topical developments in alternative investments. 

• After completing the SET, each Member's SET results include an indication of whether each question was answered correctly, supplemented with explanatory notes and links to the corresponding CAIA readings for further review. 

• After completing the SET, CAIA Members may review the questions to identify the areas in which they may have demonstrated a learning need.  

What is the process?

• The CAIA Association recommends that CAIA Members complete the SET once every three years as part of their ongoing professional development. 

• While there is no "pass" requirement for maintaining the CAIA designation, CAIA suggests Members carefully review and answer the questions at minimum once every three years. 

• Members will be asked to answer 20 questions (a combination of multiple-choice questions and constructed-response questions). This should take approximately 20 to 30 minutes. 

• Each time a Member goes through the process, the "requirement" clock will be reset for the next three years. 

What are the benefits of participating in the SET?

• Each Member's SET results include an indication of whether each question was answered correctly, supplemented with explanatory notes and links to the corresponding CAIA readings for further review.  

• Members successful completion of the SET enhances their ongoing professional development and provides the resources to fill any knowledge gaps. 

• 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 on our website. 

When can I start using the CAIA designation?

• Once your Membership application has been approved, you have earned the right to use the CAIA designation. You will receive an email confirming your Membership once you have joined and paid the Membership fee. 

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 the Intellectual Property Policy in the Policy section of our website. 

Besides contributing to AllAboutAlpha.com, what other volunteer opportunities are available to CAIA Members?

• Assisting with exam grading.  

• Assisting with exam development. 

• Assisting with curriculum development.  

• Assisting with Alternative Investment Analyst Review (AIAR) development.  

• Assisting with Member/Chapter events.  

• Promoting the CAIA designation in my company/community. 

• Assisting with scholarship reviews. 

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 your email address in the top right corner of your screen. Choose the "My Volunteer Interests" link under My Account Link. 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. 

Who can participate in Member Spotlight?

• Active CAIA Members are invited to participate. 

• This is an opportunity for you to share the news about your new job/venture, promotion, speaking engagement, award, published article, or any other notable accomplishment. 

What kind of information do I need to submit?

• Quote explaining the value of your CAIA Membership/Charter. 

• Bio, beginning with your recent accomplishments and then your job history and educational background. Upon request, we are available to provide editing and proofreading. 

• Head shot with the highest resolution and largest size possible, against a neutral background, without alterations. 

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

• Hold a bachelor's degree or the equivalent and have more than one year of full-time professional experience within the regulatory, banking, financial or related fields.  

• Alternatively, a Candidate must have at least four years of full-time professional experience within the regulatory, banking, financial or related fields.  

• Submit payment for a one- or two-year CAIA Association Membership. 

• Agree on an annual or biennial basis to abide by the Member Agreement. 

• 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 exams?

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

• 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 see CAIA Affiliate Membership information.) 

Are there any disadvantages in delaying my Membership registration?

• To enjoy a full of year of benefits, we encourage you to apply for Membership as soon as possible after passing the CAIA exams.  

• Whether you complete the program in September or March, your Membership will expire May 31st of the following year.  

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 your CAIA Charter. 

• See CAIA Charter information for details. 

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. 

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 by in your profile by logging into your CAIA account, click on your email address in the top right corner of your screen to access your profile. 

Who is eligible for CAIA Affiliate Membership?

• Affiliate Membership is reserved for CAIA Candidates who have passed the Level II exam and who 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 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, Members are required to apply for full CAIA Membership to obtain the CAIA Charter and use the CAIA designation. 

What are the requirements of Affiliate Membership?

To qualify for Affiliate Membership, Candidates are required to do the following: 

• Pass both the CAIA Level I and Level II exams. 

• Contact member@caia.org for further instruction. 

What are the benefits of CAIA Affiliate Membership?

• Access to CAIA’s global community of over 11,000 Members in more than 95 countries who represent hundreds of employers 

• Online access to the Alternative Investment Analyst Review, CAIA’s quarterly, digital research digest 

• CAIA’s Media Center for instructive videos, live presentations, and recordings on a range of alternative investment topics 

• Chapter events 

*Note that 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. 

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.