CAIA Books | 1 Page Guide on CAIA Book Options

CAIA Books

Required Books for the CAIA Program


CAIA Books | 1 Page Guide on CAIA Book OptionsQuick Link: Certified Hedge Fund Professional (CHP)

When taking the CAIA exam, there are many CAIA books that are recommended for each candidate. The CAIA (chartered Alternative investment analyst) association provides each candidate with a study guide for level 1 and level 2 of the examination. The CAIA Level I and Level II curricula are based on the CAIA books used in conjunction with the study guides. The CAIA level 1 examination is divided into the two broad sections of quantitative methods and an introduction to alternative investments. Candidates study the application of basic analytical tools, as well as the fundamentals of alternative investment vehicles. Candidates learn to differentiate between the various AI trading strategies and performance measurements. The CAIA level 2 examination is divided into two broad sections as well; alternative investments and Current and Integrated Topics. Both sections take a global perspective. Candidates must apply the skills and knowledge from Level I to gain a deeper understanding of issues involved in each of the areas of alternative investments.

The CAIA books required for Level 1 and level 2 are quite different. Level 1 recommends a candidate purchase four different books; Hedge Funds: Quantitative Insights, Lhabitant, François-Serge. John Wiley & Sons, 2004; Real Estate Finance and Investments: Risks and Opportunities, Linneman, Peter. Linneman Associates, 2004.; Standards of Practice Handbook, 9th edition, Charlottesville, Virginia: CFA Institute, 2005; and Handbook of Alternative Assets, 2nd edition, Anson, Mark. New York: Wiley, 2006. The Level 2 examination recommends the candidate purchase six CAIA books ( two of which were already recommended for level 1); Handbook of Alternative Assets, 2nd edition. Anson, Mark J.P. Edited by Frank J. Fabozzi. John Wiley & Sons, 2006; Convertible Arbitrage, Calamos, Nick. John Wiley & Sons, Inc., 2003; Real Estate Investment Trusts: Structure, Performance, and Investment Opportunities. Chan, Su Han, John Erickson, and Ko Wang. Oxford University Press, 2003; Standards of Practice Handbook, 9th edition. Charlottesville, Virginia: CFA Institute, 2005; Beyond the J-Curve: Managing a Portfolio of Venture Capital and Private Equity Funds. Meyer, Thomas and Pierre-Yves Mathonet. John Wiley & Sons, 2005; and Quantitative Trading Strategies. Kestner, Lars. McGraw-Hill/Irwin, 2003. The Level 2 CAIA books also include a collection of journal articles available in one collection from the CAIA association. The collection is titled CAIA Level II: Current and Integrated Topics, and the cost for March 2009 is $125.00.

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