Compliance with Performance Presentation Standards | CFA Level 1 Exam

Members Compliance with Performance Presentation Standards

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Question

Members ________ to be in compliance with the Performance Presentation Standards to be in compliance with Standard V (B).

Answers

A. are not required

B. may be required

C. are always required

D. none of these answers

E. will be required, as of 1/1/2001,

F. will be required, as of 1/1/2002,

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Explanations

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A. B. C. D. E. F.

The PPS are voluntary standards that a member or a firm may adopt in compiling and presenting performance figures. AIMR adopted and promotes the PPS as a method of obtaining industry wide uniformity in performance presentation information so that results are directly comparable among investment managers.

Members are not required to be in compliance with the PPS to be in compliance with Standard V (B).

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