CAIA INVESTMENT LEVEL 2 UPDATED 2025 MOCK EXAM (LIKE REAL)

Chartered Alternative Investment Analyst, CAIA, CFA, ACCA, Finance, Investing, ESG, FRM, Risk Management

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CAIA INVESTMENT LEVEL 2 UPDATED 2025 MOCK EXAM (LIKE REAL)

CAIA INVESTMENT LEVEL 2 UPDATED 2025 MOCK EXAM (LIKE REAL) udemy course

Chartered Alternative Investment Analyst, CAIA, CFA, ACCA, Finance, Investing, ESG, FRM, Risk Management

CAIA 2025 EXAM

The CAIA certification is a two-part examination, with each exam lasting 4 hours long:

  • CAIA Level 1 consists of 200 multiple-choice questions, whereas

  • CAIA Level 2 consists of 100 multiple-choice questions in Section 1 (70% exam weight), in addition to 3 sets of constructed-response (essay type) questions in Section 2 (30% of exam weight).


Topic Weights by Level II

For the 2025 Level II exams, the topics are weighted as follows:

  • Multiple choice

    • Institutional Asset Owners: 8–12%

    • Asset Allocation: 8–12%

    • Risk and Risk Management: 8–12%

    • Methods and Models: 8–12%

    • Accessing Alternative Investments: 8–12%

    • Due Diligence and Selecting Managers: 8–12%

    • Volatility and Complex Strategies: 8–12%

    • Universal Investment Considerations: 0%

    • Emerging Topics: 0%

    • Total: 70%

  • Essay

    • Institutional Asset Owners: 0–10%

    • Asset Allocation: 0–10%

    • Risk and Risk Management: 0–10%

    • Methods and Models: 0–10%

    • Accessing Alternative Investments: 0–10%

    • Due Diligence and Selecting Managers: 0–10%

    • Volatility and Complex Strategies: 0–10%

    • Universal Investment Considerations: 10%

    • Emerging Topics: 10%

    • Total: 30%

Requirements to Earn the CAIA® Charter

  1. Pass Level I and Level II of the CAIA exam.

    • Exams must be taken in separate exam cycles

    • Exam cycles occur in March and September

  2. Meet one of the two requirements below:

    • Obtain a bachelor’s degree, or equivalent, with a minimum of one year of professional experience

    • Have a minimum of four years of professional experience

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

  3. Agree to abide by the terms and conditions of the CAIA Association® Member Agreement.

    • Agreement renewal is required on an annual basis

  4. Provide two professional references.

  5. Establish and maintain membership in CAIA Association.

    • Membership fees apply; renewed on an annual or bi-annual basis

    • One-year membership $350; two-year membership $650