I did GIPS and I liked it

[Dubinko]

Spasibo cuvak

[Jsnazz]

@JayWill

@ulanky

I’m being nitpicky here, but how can you get 79% on a topic test? There are only 6 questions, so 4/6 is 67%, while 5/6 is 83%.

I’d assume he means across all four tests. 19 / 24 = 79.17%

Smart haha. 100, 50, .66666666, 100

[pakwarrior]

@krokodilizm

So I spent whole day doing some 10 item sets plus all EOCs, reading this, and have summarized the whole framework in a page. By far the most dreaded topic has now become something to look forward to in the exam.

4 Disclosure

• Use precise wording of compliance claim
• Disclose use of subadvisors and the period used
• Disclose composite date and description but not too broadly.
• If using custom benchmark disclose components, weights and rebalancing
• Disclose periods of non-compliance prior to 2000
• Disclose number of portfolios in a composite, unless number is < 5 6

…

FTFY

[pachstar]

Krok and Jsnazz,

I know this is alot of “ifs” , but if I pass this exam and if I pass gips - pm your emails i’ll email money transfer each of you enough for a case of beer.

Cheers and Thanks!

[JayWill]

Another thing with GIPS is to have a good mental image of what a compliant presentation looks like. The study note providers I’ve been using both say there’s a high likelihood of being shown a GIPS presentation and be asked to identify what might be wrong with with it.

There are 9 required columns:

(Y) Year (look for not enough years presented based on composite inception date)

© Composite Return (net, gross or both)

(B) Benchmark Return

(C-STD) Composite Std Dev (post-2010 - look for notes as to why a figure may not be presented)

(B-STD) Benchmark Std Dev

(N) Number of portfolios (not required if 5 or fewer)

(I) Internal Dispersion (not required if 5 or fewer)

(A) Composite Assets

(F) Firm Assets (or the composite % of firm assets)

Y-C-B (C+B have STDs) N-I-A-F

FYI the above is based on a post made a couple of years ago here: https://www.analystforum.com/forums/cfa-forums/cfa-level-iii-forum/91342850

[Jsnazz]

@pachstar

Krok and Jsnazz,

I know this is alot of “ifs” , but if I pass this exam and if I pass gips - pm your emails i’ll email money transfer each of you enough for a case of beer.

Cheers and Thanks!

No worries! Here is hoping we both pass!

[h21]

THANKU

[firefirehelphelp]

@krokodilizm

So I spent whole day doing some 10 item sets plus all EOCs, reading this, and have summarized the whole framework in a page. By far the most dreaded topic has now become something to look forward to in the exam.

Does anyone have a link to what this guy was reading?

https://www.cfainstitute.org/learning/products/publications/contributed/performance/Documents/gips_overview_lawton.pdf

I can’t seem to access the link.

Thanks.

[aggybail]

If you log on to the CFAI website and search for GIPS, you’ll see the GIPS Standards 2010 doc posted. Not sure if that’s what he was referring to but there’s some helpful stuff on here.

[firefirehelphelp]

@aggybail

If you log on to the CFAI website and search for GIPS, you’ll see the GIPS Standards 2010 doc posted. Not sure if that’s what he was referring to but there’s some helpful stuff on here.

Hey thanks. What helpful stuff are you referring to? I think I found the document he is referring to but it is waayyyyy too long to read.

Thanks.

[aggybail]

I was referring to the first doc that shows up when you search for GIPS on the CFAI website. It’s the 2010 standards doc. The first 30-something pages are about the standards and the rest are examples/definitions. Not a bad option to review if you don’t want to read the text itself.