I’ve found a lot of the questions on the CAIA exams (both level 1 and 2) to be a bit silly. For example memorizing distributions as you mentioned. However, the exam is still very passable without doing this stuff, unlike the CFA which will fail you if you don’t have every little detail memorized or fundamentally understand everything perfectly. So in a way, I wish the curriculum were a little more challenging and actually involve more application rather than jargon and what not. But at the end of the day, its just a qualification and a new one at that. It’ll get better and probably more respected. I’m getting in now cheap and easy, especially because I have no idea how long it will take me to pass level 3 of the CFA.
I took the first level. a piece of garbage exam. it was easy. didn’t bother doing the second one as it was a waste of time.
First of all, sorry for digging back an old post. I am thinking of taking the CAIA exam but reading this post, I am having my doubts.
While the content taught on the CAIA curriculum is important to have as background knowledge, wallstreet123477 seems to have a good argument concerning the knowledge of the underlying vs classification of assets and betas. In the end, what truly does matter is to know what you are buying and what risk you are exposing yourself to.
Since it seems that the CAIA curriculum does not thoroughly tackle this issue, would anybody be able to direct me to a certification and/or book that would cover such area? Certifications are nice, but in the end what I want is to perform well and make the right investments.
It’s no secret that the business curriculum at the Harvards and Whartons of the world are, generally speaking, pretty much the same as every other business program of reasonable repute in the world. The alumni of these schools won’t admit to it, of course, because if all of the alumni began speaking badly about the programs, it would reduce the mystique of these schools.
Analogously, a credential only maintains its lustre so long as the candidates and charterholders of it do their part to maintain its respectability.
I find it puzzling that people who have made it as far as setting themselves up to take these sorts of exams would want to sit here and sh!t on them. If you have determined, in whatever way it is that your mind operates, that you are not cut out for these exams, please, sir, exit the candidate pool immediately and restore the credibility of the remaining candidates with your departure.
+1
well, I beg to differ: if you do NOT sit for L2 (which is too easy to bother) THEN L1 was certainly a “waste of time”. Since it is a no-brainer you can pass easily en passant, I guess.
Also, a good read: http://blog.michaelpage.co.uk/%E2%80%9Cmy-mba-school-is-one-of-the-best-in-the-world/ replace MBA with CAIA and you get an idea what really matters - it’s personality