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Free CAIA Level I MCQ PDF

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CAIA Level I

20 MCQs · 22 pages

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Selected 2026 MCQ samples. Not a full mock, official curriculum or written-response workbook. Preview the coverage below before requesting.

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What is inside your PDF?

20 MCQs across one file. The charts below count questions in the existing PDFs. They are sample coverage, not official exam weights.

Level I question mix

Number of MCQs · bar scale 0-20

Questions by topic in the Level 1 PDF
Topic	Question count
CAIA Ethical Principles	3
Introduction to Alternative Investments	3
Real Assets	3
Private Equity	3
Private Debt	2
Hedge Funds	2
Digital Assets	2
Additional Strategies	2
Total	20

The file labels its final category “Additional Strategies.” It is not a separately labeled Funds of Funds section. This is a selected 2026 sample, not a complete curriculum or mock exam.

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Question 1 from page 2 of each selected PDF. The answer explanations below are concise summaries of the file’s explanations.

CAIA Level 1 · Question 1

Which description best characterizes an agent within the investment industry value chain?

A.A party that always eliminates conflicts of interest when executing client investment mandates.
B.A party authorized to make investment decisions and act on behalf of another.
C.A party that delegates investment authority while retaining ultimate ownership of the assets.
D.A party that establishes market regulations without participating directly in capital allocation decisions.

Show answer and explanation

Answer B. The agent acts on behalf of the principal. Delegating authority does not eliminate conflicts, and the party that delegates is the principal, not the agent.

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For the full exam-year syllabus, use CAIA’s official curriculum and study tools. Review the topic explanations and worked lessons before returning to unfamiliar questions.

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20 questions in every PDF. Answers included.

CAIA Level I

Level I

20 MCQs · Answers & explanations · 22 pages

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Original practice material from MiloPrep. These are sample questions, not a full mock exam or official exam questions.

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