Free CAIA Level I Lessons
All 26 CAIA Level I lessons are free to read, each with worked examples and audio narration. No signup required.
CAIA Ethical Principles
- Ethical Principles for CAIA (28 min)
Introduction to Alternative Investments
- Alternative Investments Overview, Fund Structures, and Fees (44 min)
- Performance Measurement. IRR, Multiples, and the J-Curve (32 min)
- Return Distributions and Statistics (30 min)
- Market Efficiency, Valuation, and Factor Models (45 min)
- Derivatives. Forwards, Options, and Swaps (38 min)
- Risk Measures, Performance Attribution, and Alpha (37 min)
Real Assets
- Natural Resources, Timber, and Farmland (41 min)
- Commodities and Futures (43 min)
- Infrastructure, Intellectual Property, and Other Real Assets (50 min)
- Real Estate Categories (34 min)
- Real Estate Debt and Vehicles (48 min)
- Real Estate Valuation (29 min)
Private Equity
- Private Equity Overview and Exit Strategies (38 min)
- Venture Capital and Growth Equity (38 min)
- Buyouts and Leveraged Buyouts (34 min)
Private Credit
- Private Credit Strategies (45 min)
- Asset-Based Lending, Mortgages, and Insurance-Linked Securities (45 min)
- Structured Products and Credit Derivatives (45 min)
Hedge Funds
- Hedge Fund Overview (44 min)
- Macro and Managed Futures Strategies (37 min)
- Event-Driven Strategies (38 min)
- Relative Value Strategies (32 min)
- Equity Hedge Funds (31 min)