答案和详解如下： 6.Which of the following best describes the underlying principles upon which the Global Investment Performance Standards (GIPS) are based? A) Fair and consistent application of a global set of regulatory requirements. B) Fair treatment of entities associated with securities law infractions. C) Full disclosure and fair representation of performance results. D) Uniformity and consistent application of standards for the global regulation of the securities industry. The correct answer was C) The GIPS standards are a set of voluntary standards based on the fundamental principles of full disclosure and fair representation of performance results.
7.Which of the following statements most accurately describes why the Global Investment Performance Standards (GIPS) were created? To: A) meet the need for a single globally accepted set of investment performance presentation standards. B) meet the need for a single globally accepted set of regulatory guidelines among developed securities markets. C) provide comparability of performance results among nations for which no presentation guidelines currently exist. D) expand the extent of the influence of the CFA Institute. The correct answer was A) Recognizing the need for one globally accepted set of investment performance presentation standards, CFA Institute sponsored and funded the Global Investment Performance Standards Committee to develop and publish a single global standard by which all firms in all countries calculate and present performance to clients and prospective clients. 8.Compliance with the CFA Institute Performance Presentation Standards (PPS) or the Global Investment Performance Standards (GIPS) is: A) required by the Code of Conduct. B) the best way to comply with Standard V(B), Performance Presentation. C) required by the SEC. D) the only way to comply with Standard V(B), Performance Presentation. The correct answer was B)
According to the Standards of Practice Handbook, complying with the PPS and GIPS is the best way to comply with Standard V(B). However, a firm is not required to be in compliance with either PPS or GIPS in order to claim compliance with Standard V(B). Compliance with the PPS or GIPS is neither required by the Code and Standards nor the SEC. 9.The Investment Performance Council (IPC) is composed of 36 members from 15 countries and serves as the global committee responsible for the Global Investment Performance Standards (GIPS). The principal goal of the IPC is to have: A) all countries with developed financial markets adopt the GIPS standards as the standard for investment firms presenting historical performance and become members of the IPC. B) all countries worldwide adopt the GIPS standards as the standard for investment firms presenting historical performance. C) all firms in the IPC-represented countries adopt the GIPS standards as the standard for investment firms presenting historical performance. D) countries with established financial markets set the global standard for investment firms presenting historical performance. The correct answer was B) The IPC envisions the GIPS compliance as a “passport” that allows firms to enter the investment arena, which will level the playing field on a global basis.
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发表于 2008-5-15 14:53
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