Byland an advisorty firm has reported perfoamance restults since 2000 in compliance with the country version of GIPS (CVG) applicaticale to their country, where they operate exclusively. There are differences between CVG and current version of GIPS, which became effective Jan 1 2006. Which of the following best describes the requirements for this firm to present a compliant presentation: Firm must reccalc performanace from 2001 to 2005 in accordiance with GIPS and report 2006 perfocmance in accordance with gips the firm may report formance from 2000-2005 as it was calculated inder CVG and report 2006 performance in accordance with GIPS. What do you lot think? I haven’t included the other answer as I excluded them straight away.
the trick to this question is taht, the differences between CVG and GIPS became effective on jan 1 2006… implying that before that they were the same, thus compliant…
You’re right. I answered the other one. Those kinda questions are just rediculous. So obscure.
I totally agree. I am totally fed up with ethics questions anyway. I got 17 out of 18 correct on Exam 3AM yet only 8 out of 18 correct on Exam 3PM…I failed ethics (<50%) on one sample CFAI and got over 70% on another. This is ridiculous. I think its just time to wing it on the real thing…im so frusterated. On a positive note, I guess this means i’ll be in between 50-70 right…
b