Caia Level 2 Schweser Notes Pdf Upd May 2026
The Chartered Alternative Investment Analyst (CAIA) designation is the global benchmark in the alternative investment industry. For candidates who have successfully cleared the Level I exam, CAIA Level II presents a much steeper challenge. This level shifts from basic definitions to complex applications, including asset allocation, risk management, and structured constructed-response (essay) questions.
I understand you're looking for the Schweser Notes for the CFA Institute's Certificate in Investment Performance Measurement (CIPM), Level 2 — often referred to by the old "CAIA" shorthand (though CAIA is a different designation).
Who it’s for:
The CAIA Association updates the Level 2 curriculum annually. Unlike the CFA Program, which often has major overhauls every few years, CAIA tweaks its curriculum constantly to reflect real-time market shifts (e.g., crypto assets, SPACs, inflation hedging, private credit evolution).
What are Schweser Notes?
Phase 2: Read Schweser First, Then Official Text (Days 2–60)
- Read the Schweser Note for a reading (e.g., "Private Equity Fund Valuation").
- Search the official CAIA PDF for the corresponding blue-box example.
- Do not skip the "Challenge Problems" at the end of each Schweser study session. Level 2 questions are vignette-based (like CFA Level 2), so you need long-form practice.
Official updates – Kaplan Schweser releases updated notes for each CAIA exam cycle (usually annually). The 2025 Level II SchweserNotes are typically published several months before the March and September exam windows. Always check the official Kaplan Schweser CAIA page for the latest edition.
1. UpperMark (The Concise Alternative)
UpperMark’s study materials are even more condensed than Schweser. They focus exclusively on exam relevance. Their PDF is clean, well-formatted, and often updated faster than Kaplan. caia level 2 schweser notes pdf upd
Study Time: Plan for at least 200–250 hours of preparation over 3–4 months. Guide to Using Schweser Materials