Validates knowledge of alternative investments, including private equity, private debt, hedge funds, real assets and digital assets.
CAIA's alternative-investments curriculum takes about 250 hours per level, so a good course has to shorten the reading and add exam-style practice. We compared the main options on teaching, practice, access period and price.
Most people should read the official CAIA curriculum, which comes with exam registration, and add Edge Designations for video lessons and practice from $300. Choose UpperMark for a coordinated set of notes and practice, or Kaplan Schweser for concise notes and a fixed study sequence.
| Course | Best for | Format | Price |
|---|---|---|---|
 CAIA Level I Suite | Notes plus TestBank | Interactive | $499 |
 CAIA Level I study packages | Concise notes | Interactive | $549 |
 CAIA Level I Program | Low-cost video | Video | $300 |
The official CAIA curriculum, read through the MyCAIA portal and updated every year. It is the only written preparation material the CAIA Association endorses, and the exam is built from it.
Great fit if you want the full readings used to develop the exam
Poor fit if you want video lessons or timed practice built in; choose Edge Designations or UpperMark
A Level I package of study handbooks, formulas and the TestBank, which has over 2,000 questions per level. Higher tiers add on-demand video teaching, lecture notes and support.
Great fit if you want a coordinated set of notes and practice tools
Poor fit if you want the lowest price; choose Edge Designations
Three package levels combine condensed notes, study tools, question practice and teaching. Full-length mock exams come with the study packages, which include PassProtection.
Great fit if you prefer concise readings and a structured study sequence
Poor fit if you want full video lessons at a lower price; choose Edge Designations
Self-paced video lessons of about 60 hours, full notes, a 1,100-question bank and four mock exams. The top tier adds eight live Zoom classes, and the entry price is well below the larger providers' packages.
Great fit if you want full video teaching and practice at a lower price than the big packages
Poor fit if you want a larger established provider; choose UpperMark or Kaplan Schweser
For most people, the official CAIA curriculum plus Edge Designations' Level I Program for video lessons and practice at $300. UpperMark and Kaplan Schweser cost more and add notes, teaching and larger question banks.
No. The official digital curriculum comes with your exam registration and is the material the exam is built from. Providers add condensed notes, video teaching and practice questions.
Plan for about 250 hours per level, within a range of 200 to 300. Use the low end if you already work in alternative investments.
Yes. CFA charterholders can start directly at Level II.