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- Are There Any CAIA Exemptions?
Are There Any CAIA Exemptions?
There is in fact no CAIA exemptions at this stage. However, if you are a member of charterholder of other professional association, you may get some benefits.
No CAIA Exemptions…
… but there are waivers for other professional certifications. Completion of the CAIA program exempts members from the following exams:
- Professional Risk Managers’ International Association (PRMIA);
-
The UK Actuarial Profession – STO Subject.
The CAIA program qualifies for the continuing education requirement for the following designation:
- CFA;
- Life Office Management Association (LOMA).
The Exam Itself is Not as Difficult
While there is no waiver at this time, you may want to know that the exam is only two-tier compared to the three-tier structure of the CFA exam, the most comparable professional exam for finance professionals.
The CAIA Association suggests 200 studying hours to prepare each part of the exam, versus the 250 hours each (i.e. 750 hours in total) for CFA exam preparation. Many candidates can pass within a year. Passing rate is also high at mid-60% for both Levels.