CFA Practice Question

There are 361 practice questions for this study session.

CFA Practice Question

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.
Correct Answer: I, II and III

I: Sometimes local or country-specific laws or regulations conflict with the GIPS standards.
II: Firms must present the list AND a composite description.
III: The minimum time period is five years.

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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