How to study GIPS

Looks like the GIPS section is sooooooooo detailed, even gives exact dates of what changed and what will change. For the people who have taken the exam, how should i study for this? And would GIPS show up on the morning written section?

No shortcut here…try to remember as much as you. I don’t remember there was a GIPS question in 2008 exam. You can double check that using the CFAI published 2008 morning exam section.

In 2008, GIPS was tested in the last section of the afternoon multiple choice. Do not pay attention to Schweser’s comments that you won’t have to calculate returns, because their was exactly such a question last year. (Modified Dietz rings a bell.) When you get around to taking the older CFA exams (2005 and 2006, I think), you’ll see how GIPS was tested in the morning. They show you a presentation and ask you to find things wrong with it, basically. But it wasn’t tested that way in 2007 or 2008, so maybe they’re moving away from that. In any case, I suggest you hold off on GIPS for a couple months at least. It’s not easy to remember trivia for 4.5 months.

frisian, schweser may be right withthe calculations stuff… i have taken a look at the LOS and the key words do not include CALCULATE it is all explain state, identify etc etc So we may not calculate afterall. but you never know…they may show you the calculation and ask you to identify which method is beeing used, what is wrong with the calculation etc etc…i dont get my pay check from the institute though…

Read it the schweser 3 times in the last month. Memorize required disclosures. some easy points you do not want to miss out on.

Only look at required disclosures, the different between recommended and required will throw you off. Calculations are there for a reason and using the CFAI texts is going to be more helpful than Schweser who drop some of the finer details in this area.