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LOS a: Summarize the reasons for the creation of the GIPS standards, the Standards’ evolution, and their benefits to prospective clients and investment managers.
Q1. 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.
Q2. As countries adopt the Global Investment Performance Standards (GIPS), which of the following is least likely to occur?
A) The trend toward cross country investments will decline.
B) Existing and potential clients will be able to make fair and unambiguous comparisons among investment firms.
C) Competition in the global investment industry will be enhanced.
Q3. Which of the following best describes the underlying principles upon which the Global Investment Performance Standards (GIPS) are based?
A) Full disclosure and fair representation of performance results.
B) Fair and consistent application of a global set of regulatory requirements.
C) Uniformity and consistent application of standards for the global regulation of the securities industry.
Q4. All of the following are reasons why the Global Investment Performance Standards (GIPS) are necessary EXCEPT enhancing:
A) market efficiency:
B) competition in global markets.
C) investor confidence.
Q5. The Global Investment Performance Standards (GIPS) apply to investment management firms. They are NOT intended to serve which of the following?
A) Consultants that advise investors.
B) Securities market regulators.
C) Prospective clients of investment firms.
Q6. The Global Investment Performance Standards (GIPS) are necessary for all of the following reasons EXCEPT to:
A) enhance competition in global markets by creating a universal set of standards that places managers from all countries on an equal footing in soliciting clients.
B) broaden the application and acceptance of the performance presentation guidelines of foreign and domestic regulatory entities.
C) enhance investor confidence and allow investors to make more meaningful comparisons.
Q7. All of the following are reasons why the Global Investment Performance Standards (GIPS) are necessary EXCEPT to enhance:
A) competition in global markets.
B) consistency in performance presentation for inter-country holdings.
C) the application of global accounting standards.
Q8. Which of the following lines of argument has/have been put forth to justify the establishment of the Global Investment Performance Standards (GIPS)?
A) Enhancing competition in global markets.
B) Enhancing the consistency in performance presentation for inter-country holdings.
C) All of these choices are correct.
Q9. Which of the following lines of argument has/have been put forth to justify the establishment of the Global Investment Performance Standards (GIPS)?
A) All of these choices are correct.
B) To enhance consistency in the use of the standards.
C) To increase the confidence that prospective and existing clients have in the industry. | 
发表于 2009-4-10 15:40
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