The Chartered Alternative Investment Analyst Association had the largest turnout of people taking — and passing — its exam to receive its CAIA designation in the organization's history after allowing people to take its exams online as well as in person.
The organization announced in July that those wishing to take its exams granting either its standard CAIA or Financial Data Professional designations in September could do so online because of the COVID-19 pandemic. CAIA partnered with technology firm Pearson VUE to both administer online proctored exams and identify physical sites that would allow in-person testing.
"There's no doubt that our North Star is the integrity of the exam. But when you look at the unprecedented dislocation (caused by COVID-19), you've got to pivot," said John L. Bowman, CAIA Association senior managing director. "We owed it to everyone to provide a solution."
CAIA reported that 4,230 people registered to take one of its exams in September, up 33.4% from the 3,170 who took the tests in September 2019. Of the 1,837 people who took CAIA's Level II exam in September, 65%, or 1,194, passed the exam. By comparison, 1,080 took the Level II exam in September 2019 and 691, or 64%, passed.