Success in today's complex world of alternative investments (AI) demands a strong foundation of knowledge and an unwavering dedication to professionalism. But up until a few years ago, no structured program had existed to address these needs. Sponsored by the CAIA Associationsetting you and your firm apart from the competition. The CAIA program is comprised of a two-tier exam process (Level I and Level II) through which you may earn the CAIA charter. The Level I exam challenges your understanding of the alternative investment market's tools and terms, and tests your knowledge of various trading strategies and their performance characteristics. The Level II exam assesses how you would apply the knowledge and analytics learned in Level I within a portfolio management context. Both levels incorporate segments on ethics and professional conduct, which are essential components of the CAIA program.