VIP Exclusive
CAIA Chartered Alternative Investment Analyst VIP Practice Exam
CAIA — The CAIA charter is issued by the CAIA Association; Level I consists of 200 multiple-choice questions over 4 hours covering professional standards, real assets, hedge funds, private equity, and structured products, with a pass mark set by the Board of Trustees (historically near 70%); Level II adds constructed-response questions and deeper portfolio management coverage.
30
Questions
120m
Time Limit
70.00%
To Pass
Question 1 of 30👑 VIP
An investment manager who holds the CAIA charter is approached by a prospective client who asks for a copy of the firm's composite performance record. The manager knows the composite includes one fund that significantly underperformed due to a discretionary error that was later corrected. Under the CAIA Code of Ethics and Professional Standards, which of the following best describes the manager's obligation?
Questions 2–30 and full explanations are VIP-exclusive.