The CFA Study Guideline for Ethics and GIPS says that GIPS curriculum for Level 1 is until Fundamentals of Compliance II. 0 But I found this question on the CFA online exam…is there something I am missing? According to the GIPS, Verification procedures do not included: A) disclosures B) Calculation Methodology C) sample account Selection D) non discretionary accounts
B Calculation methodology is not part of GIPS verification. Definition of firm, composite construction, non discretionary accounts, sample account selection, account review, performance measurement calculation, disclosures, and maintenance of records.
Exactly…look in III B. Required Verification Procedures in Reading 4 GIPS–i got it off the website. The Calculation Methodology is part of the eight sections that reflect the basic elements involved in presenting performance info: fundementals of compliance, input data, calc. meth., composite construction, disclosures, presentation and reporting, Real estate, and Private eq. (sometimes they ask this question and throw in alternatives or one fo the verification things in wjg’s post to mess you up.) Just gotta memorize them.