CIIA Exam Information and Outline
Certified International Investment Analyst
Syllabus Update Checked on: October 30, 2026
CIIA Exam Syllabus & Study Guide
Before you start practicing with our exam simulator, it is essential to understand the
official CIIA exam objectives. This course outline serves as your roadmap.
The information below reflects the 2026 syllabus defined by
ACIIA.
Below are complete topics detail with latest syllabus and course outline, that will help you good knowledge about exam objectives and topics that you have to prepare. These contents are covered in questions and answers pool of exam.
- Exam Format
- Foundation level modules (via national associations) followed by the CIIA Final Examination
- Final Examination: two papers (Paper I and Paper II), written, 3 hours each
- Economics
- Macroeconomic analysis, business cycles, monetary and fiscal policy
- Exchange rates and international economics
- Financial Accounting and Financial Statement Analysis
- IFRS financial statements and consolidation
- Ratio analysis and cash flow analysis
- Corporate Finance
- Capital budgeting, cost of capital and capital structure
- Mergers, acquisitions and corporate valuation
- Equity Valuation and Analysis
- Dividend discount and free cash flow models
- Multiples and relative valuation
- Industry and company analysis
- Fixed Income Valuation and Analysis
- Bond pricing, yields, duration and convexity
- Term structure of interest rates and credit risk
- Derivatives Valuation and Analysis
- Forwards, futures, swaps and options pricing
- Hedging and trading strategies
- Portfolio Management
- Modern portfolio theory, CAPM and multi-factor models
- Asset allocation, performance measurement and attribution
- Risk management
- Ethics and Professional Standards