CAIA Level I (Book 1: Foundations): Simply Certified Study Guide pdf

About the Simply Certified series

Simply Certified is a study guide series for working professionals who need to certify efficiently. Every title is built around the certifying body's published exam objectives, written in clear professional English, and edited to the depth the exam actually requires. Nothing is included to make the book look bigger.

The series is published by Aced It Publications to a single editorial standard. Each chapter maps to the official objectives. Technical specifics are verified against source documentation. Practice questions are grouped by domain and include an explanation for every answer choice. The aim is a guide you can read end to end and take into the exam room with confidence.

About this book

The CAIA (Chartered Alternative Investment Analyst) Level I credential is awarded by the CAIA Association and is the recognized professional standard for alternative investment practitioners. The exam is two sessions of 100 multiple choice questions each, covering eight Topics across the full curriculum. Only the Texas Instruments BA II Plus and the Hewlett Packard 12C are permitted in the exam room.

This is Volume 1 of the two volume Simply Certified CAIA Level I set. It covers Topics 1 and 2: professional standards and ethics, fund structures and fees, quantitative and statistical foundations, financial economics, derivatives and risk neutral valuation, measures of risk and performance, and alpha and beta estimations. These ten Readings are the analytical spine both exam sessions draw on. Every chapter maps one to one to a published Reading. Every formula on the official Equation Exception List is flagged where it appears. Worked examples show TI BA II Plus keystrokes in exam order.

Who it is for

This book is written for analysts and associates at allocators, asset managers, fund of funds platforms, and endowments, and for candidates moving from a public markets background into private markets or real assets. CFA charterholders sitting the CAIA will find the quantitative coverage familiar, but the framing of fund mechanics, performance attribution, and risk measurement differs in the details the exam tests. It assumes a working familiarity with portfolio theory, time value of money, and basic statistics. No prior CAIA reading is assumed.

What is inside

• Coverage of CAIA Level I Topics 1 and 2, mapped one to one to the ten published Readings
• Calculator first worked examples with TI BA II Plus keystroke callouts on the time value and cash flow sequences candidates miss most
• Every formula on the official Equation Exception List flagged where it appears, so revision can focus on the formulas that are not provided
• Exam Tip and Common Pitfall callouts on the paired distinctions the exam tests: hard versus soft hurdles, deal by deal versus fund as a whole carry, traditional versus modified high water marks
• A practice question bank grouped by Reading, with an explanation for every answer choice including the incorrect options
• The eight CAIA Ethical Principles taught against named case studies: MF Global, Archegos, Bear Stearns, the New York State Common Retirement Fund, and CalPERS