Chartered Alternative Investment Analyst

Level II study desk

Nine exam topic areas, the textbook's six curriculum parts, and ethics — deep notes, worked practice and constructed-response prep. Tick a subsection when you can explain it without looking — progress is saved on this device.

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Study aids

Formula sheet
Every relationship, grouped by topic, each with a plain-English line on what it means.
Exam playbook
Essay technique, MCQ tactics, an eight-week plan and the exam-day sequence.
Coverage map
Every examinable component of Level II and where it sits in these notes.
Glossary
The core vocabulary, searchable — one exam-grade sentence per term.

Topics & curriculum parts

1–9 follow the exam's topic areas; 10–14 follow the textbook's six parts, chapter by chapter.

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Formula sheet

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Every quantitative relationship in the core curriculum, grouped by topic, each with a plain-English one-liner saying what it actually means. Prints on a handful of pages.

Performance & risk-adjusted return VaR, CVaR & risk decomposition Factor & credit models Allocation & unsmoothing Private markets & fees Real assets & commodities Options, Greeks & volatility Asset owners & spending rules Unsmoothing & private market mechanics Commodities, credit & insurance-linked
Topic weights are approximate bands — confirm against the current CAIA candidate handbook for your sitting, since Emerging Topics readings rotate each cycle. Exam format: 100 multiple-choice questions (~70% of the score) plus three constructed-response sets (~30%).