"morality" exercise:the Global Investment Performance Standards

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來源: 正保會計網(wǎng)校編輯：小鞠橘桔 2021/03/01 09:52:55　字體：大小

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Questions 1:

Which of the following statements related to why the GIPS standards were created is least likely correct? GIPS standards were created to:

A、 provide clients certainty in what is presented and allow them to make reasonable comparisons.

B、 identify a set of ethical principles for firms to follow in calculating and presenting historical investment results.

C、 establish a standardized, industry wide approach for investment firms to follow.

Questions 2:

Which of the following statements concerning the Global Investment Performance Standards (GIPS) is most likely correct?

A 、Clients or prospective clients benefit from the Standards because the historical track record of compliant firms is accurate and precise.

B 、The Standards eliminate the need for in-depth due diligence by investors.

C、 Compliance with the Standards enhances the credibility of investment management firms.

View answer resolution

【Answer to question 1】A

【analysis】

A is correct. The GIPS standards were created to ensure fair representation and full disclosure of investment performance, not to provide certainty in what is presented.

B is incorrect because this is a correct statement as to why the GIPS standards were created.

C is incorrect because this is a correct statement as to why the GIPS standards were created.

【Answer to question 2】C

【analysis】

C is correct. Compliance with the GIPS standards enhances the credibility of investment management firms.

A is incorrect. The GIPS standards do not ensure that the historical track record of compliant firms is accurate and precise, only that the record is complete and fairly presented.

B is incorrect because the Standards do not eliminate the need for in-depth due diligence by investors.

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