EXAM FORMAT

CAIA
#1

Hi All,

Regarding the exam format.

Do anyone know how the CAIA exam format works? are the questions set out topic by topic like the CFA level 1 exam?

thank you

#2

CAIA Level 1: Two, 100 question multiple choice sessions, each lasting 2 hours. The sections are weighted based on a range and the questions are picked from a pool of questions as you go through the exam.

CAIA Level 2: One, 100 question multiple choice session, lasting 2 hours. One, 3 multi-part essays session, lasting 2 hours. The MC again has sections that are weighted based on a range and questions are picked from a pool as you go through the exam but there will be no Ethics on MC. The essay section has one essay on Ethics and then 2 essays, which could be on any of the other topics. You won’t know until you start the essay.

#3

Thanks Ramos for the detailed response. I think maybe my questions wasn’t clear enough.

i just wanted to know that will they be telling us which question is from which sub topic.

example:

Questions 1-20 Ethics

Question 21-30 Introduction to Alternatives

Question 31-45 Commodities etc etc like the CFA exams

thank you again

#4

From my memory the questions were in subjhect order, so starting with Ethics and finishing in Risk & PM, but I don’t think there was any direction as to which questions belonged to each sub topic.

Bear in mind this is CBT so you don’t have a booklet or answer sheet that would have this information, you’ll just have the screen with the current question and answer choices. Answer the questions and go the the next screen and next question. My recollection is after you go through the initial screens explaing the process and exam regulations you go into Question 1 and that’s all it says:

Question 1 : Ralph a CAIA Level 2 Candidates has printed Business Cards stating Ralph, CAIA Level 2 Candidate etc.

So no indication in the question screen of the sub topic.

Honestly I don’t think this is much of an issue, at least the questions are grouped together and in order unlike FRM where they fall at random.

#5

I see. They definitely do not tell you what section the question you’re working on is based off of, so I guess the simple question to your answer is no. They may have been in order but to be honest I don’t remember…didn’t really matter though.