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Welcome to the Hedge Funds Training and
Certification pages
Hedge Funds Training and Certification Step 1
Become member of the CAIA Association
Hedge Funds Training and Certification Step 2
Learn about the CAIA program.
There are
two levels.
Level I uses fundamental knowledge and investment analytics to
examine each alternative asset class. Level II applies the knowledge and analytics learned in Level I within an asset allocation framework. Both incorporate segments on ethics and professional conduct — essential components of the CAIA program. The curriculum provides investment professionals with a broad foundation of knowledge covering the unique risk and return attributes associated with alternative vehicles, including real estate, private equity, commodities, hedge funds and managed futures. Study materials are chosen for their clarity, depth and synthesis of industry insights. To maintain the program’s currency, the curriculum is revised regularly, incorporating new products and research. Level I Professional Standards and Ethics Quantitative Analysis Performance Measures Pricing Models Asset Allocation Hedge Funds Investment Strategies Due Diligence Risk Management Regulation Commodities and Managed Futures Investing in Commodities Portfolio Implications Managed Futures Private Equity Investing in Private Equity and Venture Capital Leveraged Buyouts Mezzanine and Distressed Debt Performance Measurement Real Estate Valuation Mortgages Risk and Return Credit Derivatives Risk & Return Characteristics Collateralized Debt Obligations Level II Professional Standards and Ethics Hedge Funds and Managed Futures Convertible Arbitrage Strategies Trend Following Strategies Venture Capital and Private Equity Fund Management Real Estate Real Estate Investment Trusts (REITs) Current and Integrated Topics Asset Allocation in a Global Setting Securitization and Structured Products Risk Management Regulatory Environment New Research in Alternative Investments Case Studies Hedge Funds Training and Certification Step 2 Sit for the CAIA Examinations CAIA examinations are offered semi-annually, giving candidates the opportunity to complete the CAIA program within a calendar year. They are computer-based and administered at proctored test centers around the world. Both exams allow candidates to review their responses and offer feedback. Level I - 200 Multiple Choice Questions The Level I exam challenges a candidate’s understanding of the alternative investment market’s tools and terms. Candidates are asked to distinguish among various trading strategies and performance measurements. Specific knowledge areas include: • quantitative methods • professional standards • risk and return characteristics of real estate, private equity, commodities, hedge funds, and managed futures • credit derivatives Level II - 100 Multiple Choice Plus 3 Essay Questions The Level II exam is a multifaceted assembly of questions and problem solving tasks. The tools and terms introduced in Level I provide the basis for a more in-depth investigation. Specific knowledge areas include: • asset allocation • risk management • structured products • indexing and benchmarking • current topics • case analyses The CAIA Association facilitates job placement in the field of alternative investments through its online Job Board. As the industry continues to expand, so too does the need for qualified professionals. The Job Board enables financial institutions to alert CAIA designees to existing employment opportunities TO SEE WHAT IS COVERED IN THE EXAM, YOU MAY HAVE A LOOK AT THE RECOMMENDED READING (FROM CAIA) |
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