Can any previous level 3 takers comment on how GIPS was tested last year? Is it included as part of ethics or stand-alone? Was it computationally intensive or was it a item set that showed the compliance statement for a company and asked you if certain pieces were/weren’t in compliance?
standalone could be both MCQ or essay very often a perf presentation of a company which you are asked to evaluate
Mrs. Bambi- I noticed that on the CFA website Ethics & Professional Stds is listed as a 10% weight for the exam…Would you reasonably assume 2 item set questions? Also, is GIPS tested as part of ethics…or do you think this is an addition to the 10%?
Looking at exams back to 2000, I believe that Ethics is usually in the Afternoon as an Item set 5%. Also, i have seen GIPS mostly as an Essay so that could be another 18 points or 5% of the exam.
I haven’t started to review the past CFAI exams yet - start that here this week. bigwilly - which past exam years had GIPS questions in them? Thanks!
Don’t remember…maybe all of them did or a large % did.
Last year, GIPS was in the afternoon. It was calculation-heavy. In 2006, it was essay. Essay is the typical location for GIPS although it could be in either section. Ethics is usually asked in 2 item sets and GIPS is asked separately (although GIPS requirements could pop up in an Ethics question).