I have an electronic copy of “CAIA Level I An introduction to Core Topics in Alternative Investments 2nd ed.”
But on CAIA website and study guide, it says to get “Alternative investment: CAIA level I 3rd ed”.
Is the second book a direct succerssor to the first book?
Yes, it is. I would definitely say the revisions are substantial enough that I wouldn’t use the older edition to study for the exam.
do you know where I can get the 3rd ed in pdf copy DRM free?
No, I’m not aware of a site that allows you to illegally download this book.
You may want to first legally download the Ethics handbook and review Standard I: Professionalism. Pay particular attention to the Knowledge of the Law and Misconduct sections.