- CFA Exams
- CFA Level I Exam
- Topic 10. Ethical and Professional Standards
- Learning Module 4. Introduction to the Global Investment Performance Standards (GIPS)
- Subject 2. The Key Concepts of the GIPS Standards
CFA Practice Question
Which of the following is not part of the nine main sections of GIPS?
B. Vision statement
C. Firm definition
A. Composite
B. Vision statement
C. Firm definition
Correct Answer: B
User Contributed Comments 6
| User | Comment |
|---|---|
| Slothrop | Firm definition is part of 0. Fundamentals of Compliance. |
| Khadria | Firm definition is also not the part of the 9 main sections (as listed in the study notes) WHERE IS THE "FIRM DEFINITION" in it? |
| MUTE | Firm Definition is under Fundamentals of Compliance |
| AUAU | Tricky for 'firm definition' in section 1. |
| DonAnd | yea, the firm must be defined as part of being compliant |
| johntan1979 | Don't really like this question. Take note of the word "MAIN" in the question. Firm definition is PART of Section 0. Fundamentals of Compliance, not one of the main sections of GIPS. But it is "more correct" than B. B is obviously wrong. |