*Spoiler* Schweser Volume 1 First AM Exam

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Did anyone catch this?
Question 4, third statement where the manager states that her portfolio returns are calculated quarterly. I answered this as “accurate” but schweser states that portfolio returns are calculated monthly, and goes on to say that composite returns are calculated quarterly.
So am I seeing this right? Up until 2010 portfolio returns monthly, whereas composites quarterly, and then 2010 both returns calculated monthly?
 
partial yup.
Standard 2.A.6. “For periods begin Jan 2006, firms must calc composite rtns by asset-weighting the indiv portfolio rtns at least quarterly. For period beginning Jan 2010, composite rtns must be calc by asset weighting the indiv portfolio rtns at least monthly.”
[recommendation is to calc composite rtns at least monthly starting now]
Standard 1.A.3. Portfolio Valuation - At least monthly until Jan 2010, and then on date of all large external cash flows from Jan 2010 onwards.
 
After Jan 2010, composite rtns calc monthly, but portfolio rtns calc on date of large external cash flows.
PhillyBanker Wrote:
——————————————————-
> Up until 2010 portfolio
> returns monthly, whereas composites quarterly, and
> then 2010 both returns calculated monthly?
 
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