- CFA Exams
- CFA Level I Exam
- Study Session 1. Ethical and Professional Standards
- Reading 5. Global Investment Performance Standards (GIPS)
- Subject 2. The Scope of GIPS Standards with Respect to Definition of the Firm, Historical Performance Record, and Compliance
CFA Practice Question
Which of the following is true? The firm can claim compliance ______.
A. even if its track record is less than five years
B. without all of its composites meeting the GIPS requirements
C. with a "moving window" of five-year compliance results
Explanation: If the firm has been in existence for less than five years, it can claim compliance since its inception; Disclosure of this fact is required.
User Contributed Comments 6
| User | Comment |
|---|---|
| MUSK | What is a "moving Window" |
| wollogo | An example would be if I had 10 years of performance but was only showing the last 5. |
| achu | That would be GIPS compliance. |
| sheenalim | why is the moving Window answer wrong? |
| jpducros | to wollongo : or the first five |
| ascruggs92 | Moving window needs to be 10 years, not 5 |