🧩 CAIA — Chartered Alternative Investment Analyst (Exam-Prep)

A free, independent study course covering the CAIA Levels I and II curriculum: ethics, hedge funds, private equity, real assets, commodities, structured products, private credit, risk, and asset allocation. The course is organized into 10 modules, ending with a final exam (pass mark 80%). It is independent, free exam-preparation training — not an official or accredited review course.

What you'll learn

• The CAIA Charter, Exam Format and How to Study
• Professional Standards and Ethics
• The Alternative Universe and Institutional Asset Owners
• Hedge Funds I: Equity, Event-Driven and Relative Value
• Hedge Funds II: Macro, Managed Futures, Fees and Replication
• Private Equity: Venture, Buyout and Fund Structures
• Real Assets: Real Estate, Infrastructure and Natural Resources
• Commodities and Managed Futures: Roll Yield and Term Structure
• Structured Products and Private Credit
• Risk, Due Diligence, Asset Allocation and Exam-Day Strategy

Learning objectives

• Explain the structure, eligibility, and exam format of the CAIA Charter across both required levels.
• Apply the CAIA Member Code of Ethics and professional standards to realistic conflict scenarios.
• Classify the major hedge fund strategies and evaluate their fee structures, return drivers, and replication.
• Analyze private equity, including the J-curve, fund structures, secondaries, and venture versus buyout economics.
• Assess real assets and commodities, including real estate, infrastructure, natural resources, roll yield, and term structure.
• Evaluate structured products, private credit, risk management, and operational due diligence frameworks.
• Integrate alternatives into asset allocation using alpha/beta separation and appropriate illiquid benchmarks.