GIPS - What's in scope for LI exam?

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dea_cfa

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Reading 3 of CFAI pg. 120.

"Level I candidates only need to prepare to be tested on the present note and on the Preface, Introduction, and the Provisions of the Global Investment Performance Standards through the end of Section II.0, Fundamentals of Compliance"

This is simple enough to understand except that the sections after Section II.0 (Input Data, Calcs, and Composite Construction) are not marked as optional sections as I would expect.

I'd appreciate some clarification on what is in play for the exam specific to GIPS in the CFAI materials...thanks in advance.

dea
 
The LOS's will tell you what you need to learn. I believe these are all of them for GIPS:

Explain why the GIPS� standards were created. ( LOS a, (Part 1) )
Explain what parties the GIPS standards apply to and who the standards serve. ( LOS a, (Part 2) )
Describe the key characteristics of the GIPS standards. ( LOS b (Part 1) )
Describe the fundamentals of compliance. ( LOS b (Part 2) )
Explain the construction and purpose of composites in performance reporting. ( LOS c )
Describe the scope of the GIPS standards with respect to an investment firm's definition and historical performance record. ( LOS d )
Explain how the GIPS standards are implemented in countries with existing standards for performance reporting and describe the appropriate response when the GIPS standards and local regulations are in conflict. ( LOS e )
Name and characterize the eight major sections of the GIPS standards. ( LOS f )
Explain the requirements for verification of compliance with GIPS standards. ( LOS g )
 
dea,

Don't forget to check the Lvlel I Errata

https://www.cfainstitute.org/cfaprog/resources/cfa_program_errata.html

For the GIPS it says:
Study Session1, Reading 4: The assigned session for this reading begins on page 124 at "Global Investment Performance Standards" and ends at "Input Data" on page 132. The "Preface" is not part of the assigned reading, nor are the Appendicies."
 
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