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GIPs questions with answers.
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GIPs questions with answers.Q. An investment management firm that does not adopt the GIPS standards could mischaracterize its
overal performance by presenting a performance history
A that includes terminated portfolios.
B composed of a single top-performing portfolio.
C for an investment mandate over all periods since the firm's inception. ANS -B
Q. Which of the following statements regarding GIPS compliance is correct?
A Plan sponsors and consultants that manage assets can claim compliance with GIPS.
B Software that calculates performance in a manner consistent with the GIPS standards can claim
compliance with GIPS
C Investment management firms can comply with GIPS requirements by limiting their compliance claims
to the standars the chosen to follow ANS -A
Q. Which of the following situations most likely helps to explain why the GIPS standards were created?
A Firms only including top performing funds to represent their performance history.
B Asset managers including the performance of all portfolios including those no longer managed their
performance history
C Consistency amongst fund managers when making investment performance presentations. ANS -A
Which of the following statements related to why the GIPS standards were created is least likely
correct? GIPS were created to
A provide clients certainty in what is presented and allow them to make reasonable comparisions
B identify a set of ethical principles for firms to follow in calculating and presenting historical investment
returns
C establish a standardized, industry wide approach for investment firms to folow ANS -A. not certanity
Q. Can an asset management firm who follows the GIPS standards for select performance composites
claim that it is GIPS compliant?
A No
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