CAIA Level 1 September 2018 - anyone sat the exam yet?

Anybody out there who can share their exam experience? Any specific topics that came up? Was it comparable to the CAIA mock?

Thanks for sharing!

I’m not going to go into test specifics but it was nothing like the CAIA mock. I scored a 77 on the mock and probably scored 40-50 on the real thing.

Im not too happy and for the money this program costs, CAIA should provide more mocks and their own curriculum like CFA. Third party providers really let me down.

I easily guessed on 20 questions as compared to 5 on the mock. Anyway, good luck.

Ha! I remember leaving level 1 thinking the testing center uploaded to my computer the wrong test! Wound up passing it rather easily. These CAIA people are so strange. And then they go ahead and open level 2 to CFA charterholders. They’re a mess. Can’t wait to be done with this organization.

Neil, I did the same damn thing! I seriously thought I was taking the wrong test!

You think CFA Charterholders should have to take level 1 of the CAIA?

CAIA is trying to attract CFA Charterholders…, and i think the L1 exempt is a smart way to go.

Do you guys know when the score will be released? approximately


From CAIA’s website: -----------------------

“Exam Results Level I results are usually released within three weeks of the last examination day. Level II, which includes essay questions, takes more time. Level II results are generally released within six weeks of the last examination day.” ------------------

Level 1 Exam Day Window: Sep 3 - 14, 2018 << 3 weeks from Sep 14th, 2018. So around October 5th, 2018. Level 2 Exam Day Window: Sep 17 - 28, 2018 << 6 weeks from Sep 28th, 2018. So around October 26th, 2018.

I had exactly the same feeling today. I did fine on the CAIA mock and I think I totally blew it today. How can they make the mock so easy and then the real thing is so much more difficult? I also feel let down by Schweser and Uppermark. The Schweser tutor said that in the exam most questions will have three options but 98% of mine had 4 options. I’m wondering whether they’re making it harder now for some reason?

That makes two of us. I walked out of the test center completely confused on what was the point of Kaplan and UM if the actual test was so different.

That makes three of us.

I used the Kaplan and the UM test banks to prepare. I definitely thought the UM questions were closer to the difficulty level of the exam questions.

I used the Kaplan and the UM test banks to prepare. I definitely thought the UM questions were closer to the difficulty level of the exam questions.

Odd - i found the exam to be easier than UM and the CAIA Mock but agree that CAIA’s study resources are completely lacking.

But the receipt i received after exam says the results will be released within 6 weeks. I am confused now.

I had the same feeling here. The questions are so out of my expectation, meaning so different from what i practiced. I used Schweser notes, Uppermark question bank and mock, also the mock paper on CAIA website. What study materials you guys used?

I just used CAIA mock and UM QBank - spent maybe 70 - 100 hours studying but that was off the back of ~350 hours for CFA L1.

Similar to CFA CAIA doesn’t test specific minutiae and tests more general understanding and application so getting bogged down with all the intricate formulae is a bit of a waste of time.

e.g it’s more important to know what the fourth moment is and how to interpret it than whatever the hell the formula is

Only for L2 as that has a written component. The additional 3 weeks are to allow markers to manually mark it.

I sat my last CFA exam over 2 years ago and honestly there is so much overlap in ethics and quant tools that I don’t understand this constant moan. I am an idiot because I didn’t realise the fast track existed and by the time I read I could be exempt from level 1 my company had already paid for everything so I basically had to sit an exam which I wouldn’t have to if I paid more attention (annoyingly one can’t apply for exemption being already signed up for the exam). Back to the point - in my opinion a 30-40% of the exam content on which I was already tested is enough of a head start to justify an exemption from an exam which required a 60-70% score to pass.

Re exam itself I found it slightly different but no more difficult than schweser’s qbank overall and/or schweser practice exam booklet (of which I did 1.5 exams or 3 parts).

I just did level 2. I thought uppermark did a pretty good job of covering the material. I didn’t really have any surprises, except a handful of MCQ like last time. Having said that though I choked and probably blew it. One essay question I hadn’t read over the material very well and maybe pulled 1 or 2 points out of. The other one, which is my favorite topic, I blew because i got flustered on a SIMPLE formula and it imploded from there…my fault and I deserve to be a retake for messing that up. Ethics seemed ok to me. I studied that a little harder on that since it was my lowest score on level 1. Basically I need a decent score on MCQ to pull off a pass, maybe some lucky guesses I hope.

Sat today for CAIA L2. I found the exam in line in difficultness to the Schweser exams (Not the Qbank that is way easier). I also passed CFA Level 1 and think that Schweser books are much better for the CFA than CAIA, they still have to improve but they are useful still.