Ethical And Professional Standards - Ethical And Professional Standards Section 2

Avatto > > CFA Level 1 > > PRACTICE QUESTIONS > > Ethical And Professional Standards > > Ethical And Professional Standards Section 2

81. According to the Fundamentals of Compliance section, what are firms recommended to provide to each existing client on an annual basis? A compliant presentation of:

Answer
Comment
Array

Option : B
Explanation : A compliant presentation must have the composite in which the client’s portfolio is included.

You must be logged in to post a comment.

You must be logged in to post a comment.

82. If a composite has been in existence for less than five years, then for what period is the firm most likely required to present GIPS- compliant performance?

Answer
Comment
Array

Option : C
Explanation : If a firm has been in existence for less than five years, then a firm is required to present compliant presentation since the firm’s inception date, or the composite inception date.

You must be logged in to post a comment.

You must be logged in to post a comment.

83. GP Asset Management Company is defined as a firm according to GIPS standards. The firm’s inception date is 1 January 2013, and it has been in existence for less than five years. After it builds up GIPS-compliant performance for five years until 31 December 2017, is the firm required to add additional years of GIPS-complaint performance?

Answer
Comment
Array

Option : C
Explanation : Refer Historical Performance Record section of the GIPS Standards

You must be logged in to post a comment.

You must be logged in to post a comment.

84. PA Asset Management Company is defined as a firm according to GIPS standards. The firm’s inception date is 1 January, 1998. It is now 1 January, 2014. The firm claims compliance with GIPS Standards from 1 January, 2000. Is the firm allowed to link non-GIPS compliant performance to GIPS complaint performance?

Answer
Comment
Array

Option : A
Explanation : Refer Historical Performance Record section of the GIPS Standards.

You must be logged in to post a comment.

You must be logged in to post a comment.

85. PA Asset Management Company is defined as a firm according to GIPS standards. The firm’s inception date is 1 January, 2000. It is now 1 January, 2014. The firm claims compliance with GIPS Standards from 1 January, 2006. Is the firm allowed to link non-GIPS compliant performance to GIPS complaint performance?

Answer
Comment
Array

Option : B
Explanation : Refer Historical Performance Record section of the GIPS Standards

You must be logged in to post a comment.

You must be logged in to post a comment.

Related Quiz.
Ethical And Professional Standards Section 2

Forgot your password?

I agree with the Terms.