At the end of my rounds through the CFAI EOC Q’s and examples… and now at GIPs. Any difference on how to tackle this section vs. the others? Just so much stuff that is awfully boring.
Just memorize it. There’s no way around it because it’s not really based on logic and there’s nothing to figure out. This is probably the only pure memorization you have to do in the whole program. Just read the stuff again, and again, and again and eventually you’ll just remember it.
McLeod81 Wrote: ------------------------------------------------------- > Just memorize it. There’s no way around it > because it’s not really based on logic and there’s > nothing to figure out. This is probably the only > pure memorization you have to do in the whole > program. Just read the stuff again, and again, > and again and eventually you’ll just remember it. NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!! Thats what I feared. Thanks.
stay away from Schweser on this topic. look to the blue boxes in CFAI text. You can read through entire GIPS section in 1-2 sittings. not to thread hijack, but in GIPS, it says they need to state returns for a minimum of five years (or since inception if it is less), then it says they must continue this for up to 10 years. Why dont they just say they have to show up up to ten years or since inception? What is point of the 5 year point if once they hit 5 years, the only thing that happens is they have to continue on to 10? Am I missing something?
If you are just started to comply with GIPS, maybe you can start wth five years as opposed to going all the way back to 10? Sort of like adopting a new accounting standard (more relaxed standard in year of adoption). I have yet to read the material, so take this answer however you want.
if advisor is around for more than 5 years , they can start with 5. Once they start they have to continue to report until the total becomes 10 . If advisor is around for less than 5 , report all the years since existence then keep reporting until 10. no gaps. The previous two cases are not same .
janakisri Wrote: ------------------------------------------------------- > if advisor is around for more than 5 years , they can start with 5. Once they start they > have to continue to report until the total becomes 10 . Is this same as “since inception up to 10 years” ?
AMA Wrote: ------------------------------------------------------- > janakisri Wrote: > -------------------------------------------------- > ----- > > if advisor is around for more than 5 years , > they can start with 5. Once they start they > > have to continue to report until the total > becomes 10 . > > Is this same as “since inception up to 10 years” ? Yes you could say that.
i’m thinking of memorizing a few key points and punting the rest. I suck at memorizing a laundry list of bullets, and its going to take forever for me to do it. Costs > Benefits
Not sure I agree that there is no logic to the rules. I think a good strategy is (similar to ethics) to understand the spirit of the requirements. Why is dispersion a required disclosure? If you were evaluating a manager what types of information would you find helpful? That should get you at least halfway there. Use brute memorization for the rest.