GIPS is a pretty long section and I was wondering if GIPS is actually tested on the CFA Level 1 exam. Any comments?
Yes, just a small portion of GIPS is tested on L1. Remaining part was optional material.
what you mean optional?
The Volume 1 which includes Ethics and Quants has some pages marked as optional reading. In other words, candidates would not be tested from that portion of the material.
how is GIPS a long section? 3/4 of the reading is optional
AHAHAHAAH, yeah skips GIPS and see if you pass Level 1
You could easily pass Level 1 without looking at GIPS. There were like 4 questions max. Edit: That doesn’t mean I recommend that course of action. Just responding to the post above.
GIPS questions are direct and easy to answer unlike the other ethics questions. Why would you waste free points by not studying for GIPS?
There around 7-8 concepts you should memorize for GIPS, and you will get 4-5 questions correct. 1) Duration for which compliance is needed 2) Verification encouraged, and if done should be through 3rd party 3) Learn the 8 GIPS sections (names only) 4) Definition of what constitutes a composite 5) How compliance to GIPS should be mentioned…'this report has been …etc"
gauri Wrote: ------------------------------------------------------- > GIPS questions are direct and easy to answer > unlike the other ethics questions. > Why would you waste free points by not studying > for GIPS? Pretty much my thoughts exactly. GIPS is short to read, and easy to answer, so you may as well memorize it at get all four points. Considering they go towards your ethics score as well, they may tip the balance for you in the end.
Agreed, GIPS is easy, no point skipping it since its 4 - 5 marks in the bag. Don’t worry about reading the optional sections, they are above and beyond what you need to know.
co-sign above --> GIPS are gimme points, do ya work and boost up ya ethics score
Sorry for resurrecting this topic but I wanted to double check I got it right.
In the 2012 CFA Level 1 volume, we only need to learn from page 175 to 185, that is, a brief introduction of the 9 GIPS and fundamental of compliance requirements and recommendations, right?
There is no chance there will be a single question from any of the optional segment (That is from page 185 to page 213)?
No, they wont test you on the optional segment. It even says so in the first pages of the curriculum.
Yes, I remember reading that, just wanted to be 100% sure.
Thankyou very much hamada.smaili.