Here’s a straightforward guide on all the relevant CAIA fees you really need to budget for both levels of the CAIA exams.
First, we are going to look at the total cost of CAIA exams (and its assumptions).
Then, we will delve into the details of the 5 main types of costs, before finally discussing money-saving tips to further slash these fees.
Let’s go! 🙂
The CAIA exam cost ranges from $2,440-$4,828, assuming 2 consecutive passes with no travel or accommodation costs.
This is the CAIA exam cost breakdown by level:
CAIA Association updated the exam fees from 2023, and increased the cost of registering late to $400 in a bid to encourage early registration and study preparations. This is a big change from previous years where there is only $100 price difference between early and standard registration fees.
Aside of registering early, another factor that affects the cost range is whether a candidate chooses to use third party study material or not.
Let’s go through each of the 5 key cost components so you can further improve your cost estimates.
CAIA exam fees consists of:
Here are the exam fees payable to CAIA Association and relevant registration deadlines:
Fee Type (for all Levels) | CAIA Certification Cost (US$) |
---|---|
One-time Enrolment Fee (paid once only during the whole program) | $400 |
Registration Fee (per Level, not applicable to retakes): | |
Early Registration | $995 |
Standard Registration | $1,395 |
Retake fee (per Level, if applicable) | $795 |
This is something most CAIA candidates forget to budget in for, although it’s a relatively small amount of $50 on average.
For those who prefer to bring a spare calculator as a backup during exams, remember to double the cost below accordingly.
Here are the prices of each of the 4 most popular CAIA exam approved calculators:
Not sure which calculator to choose? Check out our BA II Plus vs. HP12C guide →
CAIA registration fees now (finally) includes the digital copies of study curriculum as standard. Print curriculum, if preferred, comes at an additional cost.
Then the next question depends on whether you’re using third party study materials as your primary source of learning:
If you choose to use CAIA’s curriculum exclusively, the savings can be significant here, although third party study materials do add value with mock exams, concise notes and practice questions.
Here is a quick summary of the main types of third party study material packages offered by each CAIA prep provider, and its associated cost per Level:
Study Material Cost, per CAIA level (US$) | Self Study* | Self Study + Review Course* | Premium Course* |
---|---|---|---|
Kaplan Schweser | $499 | $699 | $999 |
Uppermark | $499 | $649 | $979 |
Cost Range ($) | $499 per Level | $649-699 per Level | $979-999 per Level |
* Self study packages typically include study notes, question bank and practice exams. Premium courses (online-based) include learning materials in self-study package, plus video classes.
Even with more global test locations available for the in-person computer-based testing and the new online proctored (OP) exams, some CAIA candidates may still have to travel some distance to a test center, and/or make accommodation arrangements to stay overnight nearby. If applicable, these additional costs should be taken into account for both Levels as well.
Another significant cost consideration would be exam retake fees (and the associated study material costs). As you can see from the Registration Fee and Study Material sections, each exam retake costs another $795 in retake fees and perhaps another maximum of $999 if you need to purchase the latest third party study materials.
Finally, if you have passed both levels of the CAIA exams, and submitted relevant qualifying work experience (or if you’re already a CFA charterholder), you can then obtain your CAIA Charter.
An important note: just like CFA Institute, CAIA Association requires you to be a member to use your CAIA designation.
This annual membership costs US$350 per year ($100 per year for emerging markets) going forward for CAIA charterholders.
Hope this helps with your CAIA cost budgeting. How much did you spend so far on your CAIA exma preparations? Leave a comment below!
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View Comments
I am interested in doing a short course on CAIA, please advice if this would be possible.
Best regards
Thomas
Good day Team,
I would like to know if you guys does offer coursework/training in CAIA.
Please advice
Thomas