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Tài liệu hướng dẫn ôn thi CFA Level 1 phần Quantitative Method | Self-Test Ethical and Professional Standards 47. A There are no GIPS related directly to the qualifications of employees managing assets at an investment firm whether it claims compliance with GIPS or not. The major sections of GIPS are as follows fundamentals of compliance input data calculation methodology composite construction disclosures presentation and reporting real estate and private equity. 48. C Composites are groups of portfolios that represent a similar investment strategy objective or mandate. Clearly grouping all portfolios managed to mirror the S P 500 Index return constitutes a composite according to this definition. Organizing composites by office or by a generic active management category is not acceptable as these categories do not reflect any sort of strategy objective or mandate. 49. B GIPS seek to promote global self regulation through voluntary acceptance and adherence to the standards. The other statements correctly state objectives of GIPS. 50. B GIPS verification must be performed by an independent third party. The SEC audit does not constitute a GIPS verification. Page 94 2009 Kaplan Inc. The following is a review of the Quantitative Methods Basic Concepts principles designed to address the learning outcome statements set forth by CFA Institute . This topic is also covered in The Time Value of Money Study Session 2 Exam Focus This topic review covers time value of money concepts and applications. Procedures are presented for calculating the future value and present value of a single cash flow an annuity and a series of uneven cash flows. The impact of different compounding periods is examined along with the procedures for solving for other variables in time value of money problems. Your main objective in this chapter is to master time value of money mechanics i.e. learn how to crunch the numbers . There will be a lot of time value of money problems and applications on the exam so be prepared to deal with them. Work all the questions and
