Hey all, Has anyone tried this question? I read GIPS through Schweser (couldn’t face the core readings, Schweser was bad enough), but I never came across anything regarding Federal, State and City taxes or the Gain ration and adjustment factor. Do we need to know this?
There is no LOS on it, thus Schweser does not cover it. Whether we need to know it is an open question…
I read CFAI for GIPS and Schweser…I don’t remember much of the material but I don’t recall reading anyting about Federal, State and City taxes
Section 6 of CFAI Reading 49 (p336+) covers taxes (i have to admit that I have not read it yet)
There is no LOS that refers to section 6. Plus that section is very particular to the US tax code, which negates the global nature of the CFA charter. I am not studying it, and if I see a Q from this section on the exam, I am going to wail on CFAI. Maybe not during the exam, but a nasty email will be in order afterwards.
This is the first time for me to review the CFAI end of chapter questions for GIPS. The mentioned question 27 makes me feel very weired. I couldn’t match this question to any LOS, besides I don’t really understand what they are trying to teach candidates by such a question. They presented a similar example to this problem in the reading under “Other Issues” section. Do we have to know this ?
ahb Wrote: ------------------------------------------------------- > This is the first time for me to review the CFAI > end of chapter questions for GIPS. The mentioned > question 27 makes me feel very weired. I couldn’t > match this question to any LOS, besides I don’t > really understand what they are trying to teach > candidates by such a question. They presented a > similar example to this problem in the reading > under “Other Issues” section. Do we have to know > this ? I don’t think so. There is no LOS for that.