GIPS Topic test

on the NG gips topic test there’s a note given after a chart that says:

  • A complete list and description of the managers composites, as well as policies for valuing portfolios and preparing compliant presentations, are available upon request.

This is a mistake and not properly noted and the answer says:

Firms are required to disclose that policies for valuing portfolios, calculating returns, and preparing compliant presentations are available upon request.

Maybe just a slow morning but what’s wrong the statement given that answer? The statement is saying that the information is available upon request. Or is it that it doesn’t say in that statement --> calculating returns? Even if it doens’t include calculated returns it doesnt make the statement wrong. That could be included in another line no? Or am I just off on something else?

Thanks…much appreciated.

you are REQUIRED TO HAVE policies for calculating returns

You are NOT REQUIRED to have A complete list and description of the managers composites


Not a fun section.