former

starting to get a bit more clear…I also mixed the firm compliance and a firm’s composite compliance… even though I like GIPS
thank you all

former

janakisri wrote:
On Q1, you have to qualify the answer a bit. Are the presentations available GIPS compliant or no? If you have 10 years or more  at least of compliant history , they have to show 10 years.
Again on Q2 , ditto. If less compliant is available then as many compliant years as available . Once compliant , they cannot uncompliant themselves. But once they started getting compliant they cannot then show less than since-inception-and-also-compliant history.
On Q3 , certainly , if they became compliant only in 2006 , then show 2007-‘11
Gross preferred but net   accepted. Disclose which one.
Q4 , the answer is obvious , why else would you take the risk of writing an option ? To cover some of the loss on your underlying position
Janakisri et al,
Q4 not so obvious.
Just finished CFAI Mock 2012 and Q43 says “covered calls do NOT provide downside protection”…
so one more to mix things up… some providers say it provides protection with premium earned and CFAI says no protection whatsoever, that was precisely my idea before I saw another point of view during other exams…