The CAIA program was designed to facilitate self-learning for today's busy professional. The CAIA Study Guides make up the foundation of the program and, in conjunction with the curriculum readings, allow candidates to adequately prepare for the CAIA exams. The Guides offer clear instructions for successful preparation, breaking down each reading, section by section, into keywords, main points, and learning objectives. In short, each Guide clearly delineates what you are expected to know for the exams.

Candidates have indicated that they spend an average of 150 to 200 hours of study time for Level I, while Level II requires 200 hours or more. Individual study needs can vary significantly.

Please note: These Study Guides apply to the September 2009 examinations only.

Study Guides are exam- and level-specific. Study Guides are regularly revised; they do not remain static from exam cycle to exam cycle. These Study Guides pertain only to the current exam period.