Frequently Asked Questions

Below please find a list of frequently asked questions about the CDDA. If you do not find your questions answered, please do not hesitate to reach out to us at

The CDDA is constructed to distinguish you as someone with an extensive background and experience in Due Diligence. A CDDA is someone who has the skills to understand and evaluate business, operational, accounting, financial and investment risks. The exam will prove you have the quantitative and qualitative knowledge to operate seamlessly between the investment management and operational due diligence worlds. In short taking, passing and maintaining your CDDA designation demonstrates a commitment to your field.

Do I have to qualify just to take the Exam?
Yes. The CDDA is an elite designation offered to only those who qualify and pass the exam.

What fund structures and products are covered in the test?

  • 40 Act Fund
  • Funds of Funds
  • Funds of One
  • Hedge Funds
  • Interval Funds
  • Long Only Funds
  • Private Equity Funds
  • Real Estate Funds
  • Separately Managed Accounts
  • Venture Capital Funds

What areas of due diligence does the exam cover?

Preparing for a Due Diligence Review - 15.2%

  • Identify relevant materials - 3.2%
  • Review and analyze investment management due diligence materials - 4%
  • Review and analyze operational due diligence materials - 4%
  • Synthesize obtained materials and create review agenda - 4%

Conducting Investment Management Due Diligence Review - 32.8%

  • Evaluate investment opportunity - 2.4%
  • Evaluate management firm - 3.2%
  • Evaluate investment human capital - 2.4%
  • Evaluate portfolio - 8%
  • Evaluate investment process - 4%
  • Evaluate investment performance - 7.2%
  • Evaluate vehicle structure and terms - 5.6%

Conducting Operational Due Diligence Review - 39.2%

  • Evaluate key operational processes - 8.8%
  • Evaluate investment management firm - 3.2%
  • Evaluate human capital - 2.4%
  • Evaluate third party service providers - 3.2%
  • Evaluate counterparties - 4.8%
  • Evaluate compliance program and the regulatory environment - 7.2%
  • Evaluate vehicle structure and terms - 4%
  • Evaluate technology infrastructure - 5.6%

Synthesizing Findings and Making a Recommendation - 12.8%

  • Make investment and/or operational recommendation - 4.8%
  • Develop mitigation plan for deficiencies - 4.8%
  • Develop monitoring plan (scope, frequency, technique, responding to market events) - 3.2%

How are the questions constructed?
150 Multiple choice questions

Where is the exam given?
Our computer-based examinations are delivered through the Pearson VUE test center network which comprises over 5,200 centers in 180 countries.
The use of Pearson VUE to deliver our exams increases the value of the international accreditation and provides students with a quality, consistent examination experience, no matter where they are in the world.

Is there is an official book or exam materials to study for the CDDA?
The IMDDA training classes are an excellent way to train and prepare for the CDDA.
We also recommend the following books:

When can the exam be scheduled?
The CDDA is offered on-demand at the testing center of your choice. You need to register seven (7) business days prior.

What happens if I fail the exam?
You may retake the exam when the next window opens. There is no limit on the number of times you may take the exam.

I want my entire team to take the exam, is that possible and would it merit a volume discount?
Yes, we have corporate rates. Please contact Andrew Borowiec  for more information at

COST: $395*

*You must be a member of the IMDDA to register for the exam. (You will have an opportunity to join the IMDDA during the online registration process, or you may join now.)