Online proctoring being offered to all candidates planning to sit for the exam later this year; physical testing sites remain preferred option, where available
AMHERST, MASSACHUSETTS (July 21, 2020) – The Chartered Alternative Investment Analyst (CAIA) Association, the professional body for the global alternative investment industry, today announced that for the first time ever it will offer Candidates taking part in the September exam cycle both a traditional in-person testing option as well as the option to choose an online proctored exam.
“We have thousands of committed professionals who very clearly want the chance to try to earn the CAIA Charter, and it is in the best interest of the alternative investment industry that we do everything in our power to give them that opportunity,” said William J. Kelly, CEO of the CAIA Association. “Postponing, cancelling, or otherwise calling ‘time out’ on our efforts and the hard work of our Candidates amidst continued COVID-driven uncertainty is not an option. Instead, we see an opportunity to embrace proven technologies that allow us to keep our Candidates and their families safe, provide clarity as to when and how they will be able to sit for the exam, and further grow the number of qualified professionals this industry very much needs.”
Kelly added that online proctoring is an approach that CAIA has been researching and testing for the past several years that is now being accelerated as part of a multi-year strategic shift in testing delivery. It has been used for decades in a number of other industries, encompassing millions of candidates across hundreds of exams in order to meet the evolving needs of professionals. In addition to those planning to take the CAIA exam, Candidates for CAIA’s Financial Data Professional (FDP) Charter will also have the same option of selecting either in-person testing or online proctoring for the upcoming exam cycle.
The ideal experience for CAIA Candidates remains the in-person testing model and Candidates will retain the option of sitting for their exam at a Pearson VUE test center if their chosen testing center is open. To accommodate as many in-person test takers as possible, CAIA has been working with Pearson VUE to identify open “brick and mortar” sites, which now number close to 600, a 60% increase since the last exam cycle in March. Pearson VUE has implemented a number of health and safety protocols designed to provide the safest testing experience possible.
For those Candidates whose chosen test centers may be closed due to the ongoing pandemic, or who for a variety of reasons are not comfortable with taking their exam at a test center, Pearson VUE will also be administering online proctored exams. Candidates will not need to provide specific reasoning as to why they are requesting online proctoring but will need to carefully review and consider the technical requirements in order to properly make use of this approach. Specific details on these requirements can be found here: https://caia.org/content/online-proctored-exam-faqs
“There has never been a more important time for the asset management industry to ensure that it properly trains and professionalizes its people,” said John Bowman, CFA, Senior Managing Director of the CAIA Association. “Capital formation is going private, digitization is upending the entire value chain, access to sophisticated strategies is being democratized – the list of massive disruptions shaping the space goes on. We are obligated to innovate and modernize for our Members, for our Candidates, and for the industry as a whole so it can best serve the end investor. Making the best use of technology to craft a more resilient, future-proofed business model is imperative.”
Candidates for the CAIA and FDP exams can find additional information at the following links:
- CAIA: https://caia.org/content/online-proctored-exam-faqs
- FDP: https://fdpinstitute.org/Remote-Proctoring-FAQs/
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About the CAIA Association
The CAIA Association is a global professional credentialing body dedicated to creating greater alignment, transparency, and knowledge for all investors, with a specific emphasis on alternative investments. A Member-driven organization representing professionals in more than 95 countries, CAIA Association advocates for the highest ethical standards. The organization provides unbiased insight on a broad range of investment strategies and industry issues, key among them being efforts to bring greater diversification to portfolio construction decisions to achieve better long-term investor outcomes. To learn more about the CAIA Association and how to become part of the organization’s mission, please visit https://caia.org/
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“We have thousands of committed professionals who very clearly want the chance to try to earn the CAIA Charter, and it is in the best interest of the alternative investment industry that we do everything in our power to give them that opportunity,” said William J. Kelly, CEO of the CAIA Association.