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CAIA Level II constructed-response format

The 2027 CAIA handbook lists 100 multiple-choice questions and three constructed-response sets, with 130 minutes for each section.

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Separate the two assessed tasks

2027 Level II structure
TaskHandbook allocation
Multiple choice100 questions; 130 minutes; 70% total exam weight
Constructed responseThree sets; 130 minutes; 30% total weight

Use the current writing scope

In the 2027 handbook, CAIA Ethical Principles and Emerging Topics are exclusively tested in constructed response. Other listed topics may appear in either format or both. Do not reuse an earlier cycle’s exclusive-topic statement without checking it.

Write to the requested evidence

In original practice, identify the action requested, choose the case facts that support it and state the conclusion with its reason. A response that only repeats a chapter heading does not demonstrate application to the case.

Keep reading and writing in the rehearsal

Use a selected short case and a realistic chosen time budget. Record whether time went into understanding the prompt, identifying evidence or composing the answer. The worksheet supports this review; it is not an official grading or partial-credit rule.

Read required current material directly

Use the official current curriculum, companion and required Emerging Topics readings to identify coverage. A condensed unofficial summary should not be treated as the full official reading requirement.

Further references