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Basic Question 5 of 7

Select the false statement(s).

I. Compliance with applicable laws or regulations leads to compliance with the GIPS standards.
II. Firms must provide a compliance presentation for any composite listed on the firm's list, and can choose the optional of providing a composite description to any client who makes such a request.
III. Discontinued composites should be listed by a firm for at least 12 months.

User Contributed Comments 2

User Comment
johntan1979 And for I, local law takes precedence over GIPS when in conflict.
tybe0012 discontinued compositeds to remain on list for at least 5 years
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I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach

Andrea Schildbach

Learning Outcome Statements

describe the key concepts of the GIPS Standards for Firms

CFA® 2025 Level I Curriculum, Volume 6, Module 4.