GIPS - pre-liquidated after-tax return - Is this something we should know?

There is a problem at the end of the chapter about this. Is it something we need to know? It doesn’t seem to be explicitly stated in the LOS anywhere, but I suppose it could be included with the return stuff.

I stick my head in the ground on that one…that was a doozer.

I can understand it but it takes way too frikkin’ long. I have a hard time imagining it shows up on the exam, but you never know. I guess if they laid out all the variables upfront and you just had to plug and chug, it wouldn’t be too bad.