Organization made an early call to shift fall 2020 exams to include an online proctoring option; approach has allowed testing in more than 90 countries
AMHERST, Mass.–(BUSINESS WIRE)–The Chartered Alternative Investment Analyst (CAIA) Association, the professional body for the global alternative investment industry, today announced that more Candidates passed its most recent Level II examination than at any other point in CAIA’s history, and it has welcomed its largest new class of Charterholders ever. The organization announced in July that in response to the still ongoing global pandemic it would augment its exam offering by making online proctoring of its September 2020 exams available to all interested Candidates and worked quickly to implement the systems and safeguards needed to make this effort a success.
“I could not be more proud of the way we were able to pivot as an organization and take what had been, for close to two decades, an in-person testing approach and, in just a few short weeks, build the digital infrastructure needed to allow our Candidates to sit for this exam,” said William J. Kelly, CEO of the CAIA Association. “But just as much, if not more, credit should be paid to the hundreds of Candidates who, during these incredibly challenging times, followed through on their desire to earn the CAIA Charter. That could not reflect more positively on their focus on bringing the highest standards, both in terms of education and ethics, for the ultimate benefit of investors around the world.”
CAIA will be celebrating its 20th year as an organization in 2021 and noted a significant milestone in its reach as it prepares to mark this anniversary, as online proctoring allowed Candidates from more than 90 countries to participate in this most recent exam cycle, which included a number of locations where Candidates had not been able to sit for exams before. Previously, Candidates in many of these markets had to travel, in some cases great distances, to take exams in-person.
“Much has been made of the democratization of the investment landscape, but this approach has allowed us to further democratize access to our exams,” said Laura Merlini, CAIA, Managing Director, EMEA for the CAIA Association. “In fact, online proctoring allowed us to test in 38 countries where we had never given exams before, including Bahrain, Pakistan, Kenya, Nigeria, Namibia, Chile, Jamaica, Romania, New Zealand, Malaysia, Cambodia, Brunei and offshore financial hubs such as Malta, Jersey and Guernsey. The use of alternative investments has been increasing in these countries in recent years, so being able to more closely engage with Candidates in these markets is of tremendous benefit to the local investment community and the end investors they serve.”
In addition to rolling out online proctoring, CAIA has also continued to build its network of brick and mortar testing centers around the world. Globally, there are now approximately 570 such centers where Candidates may sit for exams in person, should conditions allow, including in 30 countries where there was no such access at the beginning of 2020.
“This year has demanded resiliency and we have seen it from our team at CAIA, from our Members and from our Candidates,” said John Bowman, CFA, Senior Managing Director of the CAIA Association. “Introducing online proctoring while continuing to add to our network of physical testing centers is all part of building a forward-looking, future-proofed organization. After all, as we shared with the alternative investment industry earlier this year, we strongly believe in the next decade of alternatives. Our future will be defined by massive growth, disruption, and change. It is imperative that we as the global professional body for the industry embrace new approaches to further our mission and continue to bring ever higher standards to the space, no matter the challenges.”
About the CAIA Association
The CAIA Association is a global professional credentialing body dedicated to creating greater alignment, transparency, and knowledge for all investors, with a specific emphasis on alternative investments. A Member-driven organization representing professionals in more than 95 countries, CAIA Association advocates for the highest ethical standards. The organization provides unbiased insight on a broad range of investment strategies and industry issues, key among them being efforts to bring greater diversification to portfolio construction decisions to achieve better long-term investor outcomes. To learn more about the CAIA Association and how to become part of the organization’s mission, please visit https://caia.org/.
Deborah McLean, CAIA Association
Managing Director, External Relations