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It explains the CAIA Charter Program’s purpose of training professionals to “think like an allocator,” then positions Level II as advanced study in asset allocation, portfolio construction, regulation, models, due diligence, and risk management. 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2022  \nCAIA Level II Study Guide  \nFor the March 2022 Exam  \nContents  \nIntroduction to the CAIA Charter Program................................................................. 1  \nPreparing for the Level II Examination .........................................................................3  \nLevel II Examination Topic Weights and Question Format .........................................4  \nErrata Sheet ...................................................................................................................5  \nCalculator Policy...........................................................................................................5  \nCompletion of the Level II Program .............................................................................5  \nCAIA Level II Outline .....................................................................................................6  \nTopic 1: Emerging Topics ..........................................................................................9  \nTopic 2: Ethics, Regulation, and ESG......................................................................20  \nTopic 3: Models .......................................................................................................29  \nTopic 4: Institutional Asset Owners and Investment Policies ...............................38  \nTopic 5: Risk and Risk Management......................................................................49  \nTopic 6: Methods for Alternative Investments.......................................................59  \nTopic 7: Accessing Alternative investments..........................................................69  \nTopic 8: Due Diligence and Selecting Managers ...............................................80  \nTopic 9: Volatility and Complex Strategies ...........................................................92  \nAction Words ............................................................................................................. 102  \nCAIA Editorial Staff .................................................................................................... 105  \nCopyright © 2022, Chartered Alternative Investment Analyst Association, Inc. All Rights Reserved.  \nIntroduction to the CAIA Charter Program  \nFrom CAIA Association’s humble origins in 2002, the CAIA Charter Program has aimed to equip investment professionals to “Think like an Allocator.” We strongly believe that all investment professionals, regardless if they ever happen to be employed by an asset owner, should have the ability to think and manage seamlessly across the full spectrum of risk premia. Co-founded by the Alternative Investment Management Association (AIMA) and the Isenberg School Center for International Securities and Derivatives Markets (CISDM), the CAIA Charter is the only globally recognized professional designation in alternative investments, the fastest growing segment of the investment industry.  \nThe allocator’s view today is decidedly one that invests across asset classes and industries, including equities, fixed income, hedge funds, private capital (equity and debt), real assets and commodities, and structured products and credit derivatives. This is the “Allocator’s Cockpit” by which our curriculum takes its cue.  \nAs such, allocators play a disproportionate role in helping guide the positioning of the program and canon of what is taught and tested. This process is manifested in several in-person roundtables and individual meetings each year with many of the largest pensions, endowments, foundations, and sovereign wealth funds around the world. That top of the food chain perspective is balanced with rigorous survey work with our nearly 12,000 global membership who continuously counsel us on how investment practices are evolving and how the CAIA Charter Program should ultimately respond and adapt in kind.  \nLevel II o","cbCaiixgSjFjnWWe","https://ap.wps.com/l/cbCaiixgSjFjnWWe","pdf",1113156,"English","# Introduction to the CAIA Charter Program\n# Level II of the CAIA Charter Program\n# Becoming a CAIA Charterholder\n# Preparing for the Level II Examination\n# Level II Examination Topic Weights and Question Format\n# Errata Sheet\n# Calculator Policy\n# Completion of the Level II Program\n# CAIA Level II Outline\n## Topic 1: Emerging Topics\n## Topic 2: Ethics, Regulation, and ESG\n## Topic 3: Models\n## Topic 4: Institutional Asset Owners and Investment Policies\n## Topic 5: Risk and Risk Management\n## Topic 6: Methods for Alternative Investments\n## Topic 7: Accessing Alternative Investments\n## Topic 8: Due Diligence and Selecting Managers\n## Topic 9: Volatility and Complex Strategies\n# Action Words\n# CAIA Editorial Staff","[{\"question\":\"What is the CAIA Charter Program designed to teach candidates to do?\",\"answer\":\"The program is designed to equip professionals to “Think like an Allocator,” with the ability to manage across the full spectrum of risk premia.\"},{\"question\":\"What core advanced areas does Level II focus on?\",\"answer\":\"Level II focuses on advanced applications in asset allocation and portfolio construction, including regulation, models and methods, investment and operational due diligence, and risk management.\"},{\"question\":\"What kinds of knowledge are CAIA exam candidates expected to already understand?\",\"answer\":\"Candidates are assumed to understand central concepts of quantitative analysis and finance, including instruments traded in traditional markets, models used to value those instruments, and tools used to analyze data.\"}]","CAIA Level II Study Guide - March 2022 - Exam Preparation | PDF",1790400424,265]