Performance Presentation Standards: Including Income, Capital Appreciation, and Total Return | Exam CFA Level 1 Test Prep

Performance Presentation Standards

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Question

Performance Presentation Standards require that income and capital appreciation be presented in addition to total return when dealing with ________.

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Explanations

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A. B. C. D.

Explanation

For real estate, PPS require that income and capital appreciation be presented in addition to total return.

The correct answer to the question is B. real estate.

Performance Presentation Standards, also known as Global Investment Performance Standards (GIPS), are a set of ethical and standardized guidelines for presenting and reporting investment performance. GIPS are widely recognized and accepted in the investment industry to ensure consistency, comparability, and transparency in the presentation of investment performance.

When it comes to real estate, Performance Presentation Standards require that income and capital appreciation be presented in addition to total return. This means that when reporting the performance of a real estate investment, it is important to include both the income generated from the investment (such as rental income) and the capital appreciation (the increase in the value of the property) over a specific period.

Total return refers to the overall return on an investment, including both income and capital appreciation. However, in the case of real estate, it is necessary to provide separate information on income and capital appreciation to provide a comprehensive view of the investment's performance. This is because real estate investments typically generate income through rental or lease payments, which is an important component of the investment's performance.

By including both income and capital appreciation, investors and stakeholders can assess the total return of the real estate investment more accurately. It allows for a better understanding of the income-generating potential of the property, as well as the value appreciation over time.

Therefore, the correct answer to the question is B. real estate, as Performance Presentation Standards require the presentation of income and capital appreciation in addition to total return when dealing with real estate investments.