CFA then CAIA?

[ag20]

I’ve just passed the CFA, managed to pass all 3 first time, and am thinking about undertaking the CAIA..
How much of an overlap is there between the CFA syllabus and CAIA Level 1?
Also, can anyone tell me roughly how much time it will take to prepare for CAIA level 1 having already done the CFA
Thanks

 

[brewey]

Hi - i’ve just passed CFA L2 and am taking L1 CAIA in September. I don’t think there is actually that much overlap between the 2 syllabus, the more basic stuff in CAIA is also covered in CFA, but CAIA goes into Alternative investments in much more detail than CFA in a more wordy way. It doesn’t have the calculations you have to know for CFA. (just some on calculating futures prices really).
The ethics section is covered in CFA though as CAIA uses CFA ethics and professional standards.
I guess if you passed all 3 levels first time, CAIA should be fine too though…

 

[The Righteous H]

I’m taking Level 1 in September.
I’d say that the material covered in CFA level 1 is implicit in the CAIA level 1 material, but not what is tested. This means you have to be familiar with statistical concepts, derivatives, and commodities as you would be from level 1. Without this core knowledge you would be fighting an uphill battle just trying to get a grip on the actual CAIA curriculum.
Whoever constructed the curriculum clearly has taken a good long hard look at the CFA curriculum and decided not to be redundant. Therefore we see a lot more emphasis on current industry related happenings in CAIA, less concepts and theory, more focus on return distributions, and more professional jargon.
That said, this exam has been easy to prepare for compared to what you’ve already dealt with on the CFA exam. If you have the time, the intellectual interest, and don’t mind shelling out the cash then go for it. It’s not a game changer for anyone, but who knows, maybe it could be useful someday.