Ethic again

CFA Level I
#1

GIPS: a) adresses every aspect of performance measurement. b) has to be applied with goal to have best performance presentation practice c) consist of provisions to follow to achieve best practice d) relies on integrity of used data Can anybody help?

#2

D? I’m not too strong with GIPS.

#3

I agree D. I hate GIPS

#4

C I am myself weak with GIPS.

#5

somebody with an explanation?

#6

yeah with GIPS, a lot of answers sound right to me.

#7

a) adresses every aspect of performance measurement ( not every aspect) b) has to be applied with goal to have best performance presentation practice (fair presentation) c) consist of provisions to follow to achieve best practice (this can be also) d) relies on integrity of used data

#8

I thought that C is right. But i don’t know the answer.

#9

A) there’s no way one set of standards can address EVERY aspect of performance measurement. obviously wrong B) wording sounds a little off to me, even though maybe overall sounds accurate C) like ans b, i think maybe best practice is the wrong word choice? D) one goal of GIPS is presenting performance accurately and the integrity of financial data is important. even though b and c sounded somewhat accurate to me, D just seemed most clearly right.

#10

is this a real question or made up by cfaisok???

#11

best performance presentation practice. It is wrong…GIPS says “fair” presentation (like for financial statements :slight_smile:

#12

Whats wrong with c) best practice? Is there a better practice than GIPS?

#13

for me the answers can be C and D.

#14

Where in GIPS is there talk about best practice? Isn’t it the Code preaching best practice and the SoPC detailing what best practice is?

#15

C or D then, please let us know the real answer CFAisok

#16

@map1 GIPS is about performance measurement SoPC is about ethic stuff Aren’t both about best practice? @all D) There are so many input data requirements (II.1). Does GIPS really rely on input data?

#17

I don’t know the answer daj. But everyone who takes Level I in June is expected to know the right answer.

#18

Best practice is about practice, best performance presentation to allow for adequate inferences on the data. And Input Data as far as I know is one of the 8 chapters in GIPS. Check this out: http://www.investopedia.com/study-guide/cfa-exam/level-1/ethics/cfa29.asp

#19

cfaisok Wrote: ------------------------------------------------------- > I don’t know the answer daj. > > But everyone who takes Level I in June is expected > to know the right answer. so you made the question up???

#20

@daj: nope