答案和详解如下： Q4. Which of the following is NOT an important characteristic of how a firm defines itself? The firm definition establishes the: A) boundaries for what is included when measuring the total firm's assets. B) entity to which local securities laws apply when they exceed the GIPS requirements. C) set of portfolios that must be included in at least one of a firm's composites. Correct answer is B) When a firm claims compliance with GIPS, it must be compliant on a firm-wide basis. The definition of the “firm” under the GIPS standards establishes the boundaries for what constitutes firm assets, and the set of portfolios that must be included in at least one composite. Q5. Assume that on January 1, 2005, a firm with no Global Investment Performance Standards (GIPS) compliant history since its inception four years ago wishes to claim compliance with GIPS. Which of the following accurately reflects the appropriate action for the firm to take? A) Comply with GIPS for the year beginning January 1, 2002, and report its performance prior to this date with a disclosure of why the earlier years are not GIPS compliant. B) Nothing, a firm must have five years of compliant performance history to claim compliance with GIPS. C) Comply with GIPS for all four periods since the firm's inception. Correct answer is C) In order to claim GIPS compliance, a firm must present at least five years of annual investment performance that is compliant with GIPS. If a firm or composite is less than five years old, the performance since the inception of the firm or composite must be presented. Q6. Which of the following was NOT a motivation for creating the Global Investment Performance Standards (GIPS)? A) Achieve greater uniformity and comparability among presentations of performance. B) Increase the role of government agencies in the investment industry. C) Improve the service offered to investment management clients. Correct answer is B) All of these were motivations for creating GIPS except to increase the role of government. In fact, these standards have been created to bolster the notion of self-regulation and reduce the encroachment of government into the investment industry. | 
发表于 2009-1-6 10:50
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