How important is GIPS ?

I feel like confusing myself with GIPS and after so much theory is grilled into my head I am getting lazy towards GIPS. I feel pretty confident when it comes to Codes and Standards. How are you guys doing GIPS, remember EVERYTHING ? or its like just know what GIPS are and have the basic idea for example compliance, verification etc ?

Dude, dont give up the easy points. GIPS is pretty easy and I admit it as well, I hate reading that crap. But in all honesty you know you’re gonna see at least 2 questions per test and the schweser section on it is like 5 pages long. Thats a good trade off, you could knock that out in line to register or while take the coffee dump.

ohh no it IS very much imp…probably morning session would be mostly standards and afternoon could be GIPS…plus not forgetting that it is a part of Ethics itself…and skipping anythng in ethics is a no-no…

I wrote in June and there was at least 3 questions on GIPS. Know it. Easy marks.

Pay attention to GIPS. Lev1 last Dec had a lot. if you didn’t know your GIPS last Dec you were eff’d in ethics.

Its a easy section. Know the 8 sections, know the compliance statement, know the verification statement,requirements. Here is how I remember 8 sections: C C R I P P F(pretend its an E and change it to F) D

I used ICCCDPPR (IcccyDiaper)…somebody suggested this a few weeks ago in this forum.

Someone posted this which I found helpful: GIPS Standards: F.lawed I.nputs C.ause D.oomed P.erformance Fundamentals of Compliance Input Data Calculation Composites Disclosure Performance (… and then Real Estate and Private Equity)