Skip to main content

CAIA Level 1 Exam

Last Friday I took a day off and headed to a local test center to sit my CAIA Level 1 exam. Without going into too much detail so as not to violate the non-disclosure clause one has to sign before taking the exam, here are some notes and personal reflections:
  • The test is completely computer-based. No filling those circles on the answer sheet, as I had to for CFA.
  • The test's difficulty was largely in line with my expectation, based on the CAIA Schweser Notes practice exams. I find the Notes slightly more complex and going into more detail, as a matter of fact.
  • There was a number of questions that I am sure were not in the Notes, so for those who have the time, buying the official study materials is highly recommended.
I will be angxiously waiting for the results now, while preparing for the upcoming CFA Level 2 exam in June.

RELATED POSTS:
Labels:

Comments

Anonymous said…
How is your prep for Level II? What do you think of the content?

CAIALevelIICandidate
June 25, 2010 at 11:51 PM
Knarkh said…
Well, I have just started reading Schweser Notes about a week ago, so it is too early to tell, but my initial impression is that Level II is more difficult, especially the essay questions.
Having said that, I think it's doable.
June 26, 2010 at 1:40 AM
Unknown said…
Just curious...I would like to hear more about your motivation for sitting for CAIA. If you have CFA designation, do you feel that CAIA is additive in the AI industry or are you just doing it because you are interested in the material or both? I am awaiting results of Level 3 CFA and am considering CAIA. I am in sell-side research right now but am considering moving to Buy Side. Would like to work at endowment/pension.
July 8, 2010 at 6:53 AM
Knarkh said…
To mschorr24

Thank you for the comment.

CAIA comes naturally to me as I am currently working for a third-party marketing firm specialized in Alternative Investments.

However, I strongly believe that CFA is much more useful both in terms of self-education and reputation, and I am aiming to get the designation (I am a L2 candidate now).

CAIA is a good addition to CFA, and only makes sense as a standalone certification if you are specialized in the Alternative Investments space. You can earn it much faster too.

If you are thinking about an endowment/pension, it's nice to have both CFA and CAIA, but if you have to choose one, go for CFA.

Hope this helps.
July 12, 2010 at 12:52 PM
Post a Comment

Popular posts from this blog

CFA Pass Rate

It is interesting to note that CFA pass rate has considerably declined over the years. It amounted to as much as 94% at the time of inception in 1963, and as little as 42% for the June exam of 2007. Of course, the total number of exam-takers has grown around 250 times, so these pass rates are not completely comparable, but the shift is considerable enough to show a clear trend. Is it the exam becoming more difficult, or the exam-takers are getting dumber? Let's just hope that I am one of the few lucky among the 42% when I receive my exam results in about two months... Original data is available at CFA Institute official site at the following URL: http://www.cfainstitute.org/cfaprog/pdf/candidate_results.pdf
5 comments
Read more

To everyone leaving comments

Thank you for taking interest in my blog, I appreciate your comments. Please be informed that I enabled comments moderation, and every comment has to be approved before it is actually displayed. I had to do so because there was a case of inappropriate comments made at my blog, which brought no value to the readers. Therefore, do not be surprised if your comments are not displayed at once. It will take me from some minutes to some hours to read and approve their posting. Thank you for your understanding.
5 comments
Read more