CAIA Exam Cost & Fees 2026: Full Breakdown

CAIA exam cost and fees for 2026

The CAIA costs roughly $2,800 to $3,200 all-in to complete both levels, depending on whether you register early or at the standard deadline. That total is built from three pieces: a one-time program enrollment fee of $400, a Level I exam fee of $995 to $1,395, and a Level II exam fee of $1,395. Every exam fee includes the digital CAIA curriculum, so the study materials are bundled, not a separate purchase from the CAIA Association.

This breakdown covers each fee in detail, what happens if you retake a level, what the fee does and does not include, and how the CAIA Association's fees compare to commercial prep. For exact current figures and registration deadlines, check the CAIA Association website at https://caia.org.

How much does the CAIA cost in total?

Two registration timings drive the range. Register early and the all-in cost lands near $2,800; register at the standard deadline for both levels and it lands closer to $3,200. Here is the line-by-line picture.

So the early path is $400 plus $995 plus $1,395, about $2,800. The standard path is $400 plus $1,395 plus $1,395, about $3,200.

Build your budget around the standard figures and treat early registration as the discount you capture by planning ahead. If you expect to need any commercial prep, add that on top. If you study from the included curriculum and a free question bank, the table above is close to your full out-of-pocket cost.

The one-time enrollment fee

When you register for CAIA Level I, you pay a one-time program enrollment fee of $400. This is separate from the exam fee and you pay it only once, at the start of the program. It is not charged again at Level II. Think of it as the cost of entering the program, while the per-level exam fees are what you pay to sit each exam.

CAIA Level I exam fee: early vs standard

The Level I exam fee depends on when you register. Early registration is $995; standard registration is $1,395. The gap is meaningful, so registering in the early window is the single easiest way to cut your CAIA bill.

Both prices include the digital CAIA curriculum for Level I, so you are not buying study materials on top of the exam fee. Add the one-time $400 enrollment fee if Level I is your entry point, and the early-registration Level I outlay is $400 plus $995.

CAIA Level II exam fee

The Level II exam fee is $1,395, and it includes the digital Level II curriculum. There is no separate enrollment fee at Level II, since you already paid it at Level I.

CFA charterholders who use the CAIA Stackable Credential Program skip Level I entirely and sit only Level II. That removes the Level I exam fee from the equation, so the credential becomes a single exam plus the one-time enrollment fee. For a stackable candidate, the full CAIA spend can come down to the one-time $400 enrollment fee plus the $1,395 Level II exam fee, well under half the two-level total. See CAIA vs CFA for how that pathway works.

CAIA retake fees

If you do not pass a level, the retake fee is $795 per level, lower than a first-time exam fee. You do not pay the enrollment fee again. With Level I pass rates around 51% and Level II around 63%, a meaningful share of candidates face at least one retake, so it is worth budgeting for the possibility even if you plan to pass on the first sitting.

What the exam fee includes

The CAIA exam fee bundles the digital curriculum for that level. That is a real difference from some other credentials, where the curriculum or study notes are a separate purchase. With CAIA, the core reading you need is included in the fee you already paid to register.

What the fee does not include: third-party prep (question banks, video courses, mock exams) and the annual member dues that apply after you earn the charter. Those member dues are set by the CAIA Association and begin only once you are a charterholder, not during candidacy. You can still buy supplemental materials if you want them, but you are never forced to, since the reading the exam is written from comes with registration.

Are there annual CAIA membership dues?

Annual member dues apply after you earn the charter, not while you are a candidate. The dues are set by the CAIA Association and keep your charterholder status and member benefits active once both levels are passed. They are an ongoing cost of holding the designation rather than part of the cost of earning it, so they sit outside the $2,800 to $3,200 you spend to get through the two exams. For the current dues figure, check the CAIA Association website at https://caia.org.

CAIA fees vs commercial prep costs

Commercial CAIA prep packages typically run about $900 to $1,500 per level for question banks, video instruction, and practice exams. Across both levels, that can roughly double your total CAIA spend. Two packages at $900 to $1,500 each can add $1,800 to $3,000, which is on the order of the exam fees themselves. That is the single largest discretionary line in a CAIA budget, and it is the one you have the most control over.

It is also avoidable. FreeFellow is a CAIA Association Preparatory Program Provider, and the full Level I and Level II question banks are free, with step-by-step solutions and no signup to browse. The CAIA Association curriculum (included in your exam fee) is what passes the exam; a free question bank adds the practice volume on top of it without the commercial markup. Start with the free CAIA Level I practice questions or open the CAIA hub.

How to keep CAIA costs down

A few levers actually move the number:

• Register early. Early Level I registration ($995) versus standard ($1,395) is the biggest single saving available.
• Pass each level once. A retake is $795 you would rather not spend. Put in the recommended hours (about 220 for Level I, 280 for Level II) and sit each exam ready.
• Use the included curriculum. The digital curriculum comes with your exam fee, so lean on it rather than buying a duplicate set of paid notes.
• Skip the paid course if you can. Free question banks plus the included curriculum cover most candidates. Commercial video helps if you prefer lectures, but it is optional, not required.
• Use the stackable pathway if you qualify. CFA charterholders skip Level I, which removes an entire exam fee.

For whether the spend is worth it for your career, see Is CAIA worth it in 2026?. To start practicing now at no cost, open the free CAIA Level I practice questions.