In how much detail are we required to study for GIPS? It seems like a very heavy-duty chapter.


GIPS is very dry. For example, portfolio valuation, prior to 1 Jan 2001, at least quarterly. After 1 Jan 2001, at least monthly.

After 1 Jan 2010, carve out must not include cash allocation policy.

How are we going to remember all these dry and boring details?

Either read/memorize GIPS, or go to your grandma’s place to have lengthy discussions about life.


>> go to your grandma’s place to have lengthy

It does not help in exam.

CFA is rote memorization plus understanding.

The marginal benefit of studying GIPS is the lowest in the whole CFA curriculum imo. The more you read the more you’ll get caught up in the details. Best is to guess the answers. Relying on my instincts and rules of thumb 3/6 in 5 minutes is my aim in this vignette.

I feel, If you go through GIPS a few times you will remember the general themes and ideas. If there is going to a question I’d be happy to get 4/6. For number of hours to memorize will take too long for a couple of marks.

I agree with Borg…Resistance Is Futile.

What do you guys recommend to study GIPS? CFAI books or course providers (Wiley Efficient Learning, Schweser etc…)? Is it like Ethics where people say that you should use CFAI books or not? Thank you

I use Schweser and its 40 pages of GIPS are marginally tolerable.

OK thanks. What’s the exam weight on GIPS please? It is not mentioned on the CFA website with the other topics. Does it come with Ethics or it is separate? Thanks

It is separated from Ethics but may be mentioned in Ethics as well.

It is about 5-8% weight if I am not wrong.