When Do CAIA Exam Results Come Out?

Chartered Alternative Investment Analyst exam results can be accessible to Level I and Level II test takers within 5-8 weeks of taking the exam.

Table of Contents

• CAIA^® Exam Window Dates

• How CAIA Exam Results Are Released

• How To Find Your CAIA Exam Results

• Do CAIA Exam Results Expire

• What Time Do CAIA Exam Results Come Out

• How The CAIA Exam Is Graded

• How To Interpret CAIA Exam Results

• Can You Share CAIA Exam Results

• CAIA Exam Pass Rates

When Will March 2025 CAIA Exam Results Be Released?

CAIA Level I exam results are usually available within 5 weeks of the last day of the exam window. Because Level II includes essay questions, results for that level take longer—generally within 8 weeks of the last day of the exam window.

So you might be able to find out how you did on the March 2025 CAIA exam around:

• CAIA Level I: April 18, 2025

• CAIA Level II: May 23, 2025

When are CAIA Exam Windows?

A CAIA exam window is a period of time that candidates can schedule to take the exam. Each level exam window is usually 7-14 days in length. Candidates can change their CAIA exam date, location, or scheduled start time within the same testing window without charge if the change is made at least 30 days prior to their scheduled date.

A fee applies to exam scheduling changes made between 5 and 29 days before the scheduled appointment. No changes are allowed less than 5 days before the appointment.

Below are examples of an exam window for each CAIA level and how each window date relates to registering and rescheduling your exam.

CAIA Exam Level I Window Example

CAIA Exam Level II Window Example

CAIA Exam Dates

How CAIA Exam Results are Released

The CAIA Association will notify you via email that your exam results are ready. After logging into your account with the CAIA Association, you will be able to see if you passed or failed and how well you performed in each topic area compared to a reference group.

How to Find Your CAIA Exam Results

After logging into your account on CAIA.org you can find your results by going to your profile, clicking My Exam Info, and then clicking the Exam History tab.

Do CAIA Exam Results Expire?

No, CAIA exam results do not expire and will be available to you for as long as you have your CAIA Association profile active. The CAIA designation is not a licensing program and hence it does not have an expiration date.

What Time Do CAIA Exam Results Come Out?

The CAIA Association does not set an exact time for emailing results, but it’s safe to expect them after 8 AM CDT. Due to global time zones, results will be available at different times. Here are examples for some cities where candidates commonly take the exam:

• New York: 9 AM EDT

• Buenos Aires: 10 AM ART

• London: 2 PM BST

• Frankfurt: 3 PM CEST

• Mumbai: 6 PM IST

• Hong Kong: 9 PM HKT

• Seoul: 10 PM KST

• Auckland: 1 AM NZST (next day)

How is the CAIA Exam Graded?

The CAIA exams are graded by machines and actual charterholders. The CAIA Association applies a rigorous methodology to determine whether you pass or not. There is no such thing as a high pass, a low pass, or a high failure. The CAIA Association does not release candidates’ actual scores to anyone, including the candidates themselves.

How to Interpret CAIA Exam Results

The Candidate Performance Report (CPR) you receive with your exam results is designed to help you assess your performance in each CAIA topic. The report compares your score in each topic area to a reference group, which is composed of all candidates whose total test scores were within the bottom quartile of those who passed the exam during the same exam cycle.

Your relative performance is categorized into five levels: Weakest, Lower, Borderline, Higher, and Strongest. These categories reflect how your performance compares to the average performance of the reference group.

If you did not pass the exam, your CPR can help you identify your areas of weakness so you can focus your studies when retaking the exam. Below is a representation of what your CAIA exam results will look like.

Download the free eBook, Before You Sit for the CAIA® Exam, for invaluable advice from successful CAIA professionals.

Can You Share CAIA Exam Results?

Sharing CAIA exam results is allowed and can be beneficial, especially if you are planning to retake an exam. Sharing your performance with others gives you a chance to collaborate with others and gain helpful insights from those retaking the exam or moving to the next level. Reviewing lower-scoring areas with peers or an instructor can also improve understanding of the CAIA curriculum.

CAIA Exam Pass Rates

The CAIA Association has been keeping a record of pass rates for each level of the CAIA exam since its first administration in 2003. In 2023, the pass rate for each level did not exceed 60%. The pass rates for each CAIA exam change after every exam window and vary based on the exam level. To find the most current pass rates for each CAIA level visit our CAIA exam pass rate guide for more information.

Ready To Get Started?

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