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after taking both Level III CFA and Level II CAIA, I have to say that the Level II CAIA made the Level III CFA look like a hot chocolate flourless molten lava cake!!!  As a comparison, I knew every single question on the Level III, but I have to say that at least 15% of the Level II CAIA questions threw my invisible curve balls, wow. I would need some sort of miracle to pass this baby! In conclusion, Level II CAIA was a beast, and I think CAIA designation should start getting some serious attention by the investment community.