About Lesson
The investment firms are recommended to:
a. Comply with GIPS
b. To be verified
c. To adopt the broadest definition of a firm
d. To provide the clients with a compliant presentation at least once a year
ETHICS AND TRUST IN THE INVESTMENT PROFESSION
This chapter is covered in Reading 1 of the Study Session 1, of the study material prescribed by the institute. After reading this chapter a student should be able to:
a explain ethics;
b describe the role of a code of ethics in defining a profession;
c describe professions and how they establish trust;
d describe the need for high ethical standards in investment management;
e explain professionalism in investment management;
f identify challenges to ethical behavior;
g distinguish between ethical and legal standards;
h describe a framework for ethical decision making.
0/7
CODE OF ETHICS AND STANDARDS OF PROFESSIONAL CONDUCT
This chapter is covered in Reading 2 of the Study Session 1, of the study material prescribed by the institute. After reading this chapter a student should be able to:
a. describe the structure of the CFA Institute Professional Conduct Program and the process for the enforcement of the Code and Standards;
b. state the six components of the Code of Ethics and the seven Standards of Professional Conduct;
c. explain the ethical responsibilities required by the Code and Standards, including the sub-sections of each Standard.
0/3
GUIDANCE FOR STANDARDS I–VII
This chapter is covered in Reading 3 of the Study Session 1, of the study material prescribed by the institute. After reading this chapter a student should be able to:
a. demonstrate the application of the Code of Ethics and Standards of Professional Conduct to situations involving issues of professional integrity;
b. distinguish between conduct that conforms to the Code and Standards and conduct that violates the Code and Standards;
c. recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct.
0/7
INTRODUCTION TO THE GLOBAL INVESTMENT PERFORMANCE STANDARDS (GIPS)
This chapter is covered in Reading 4 of the Study Session 1, of the study material prescribed by the institute. After reading this chapter a student should be able to:
a. a explain why the GIPS standards were created, what parties the GIPS standards apply to, and who is served by the standards;
b. explain the construction and purpose of composites in performance reporting;
c. explain the requirements for verification.
0/5
GLOBAL INVESTMENT PERFORMANCE STANDARDS (GIPS)
This chapter is covered in Reading 5 of the Study Session 1, of the study material prescribed by the institute. After reading this chapter a student should be able to:
a. describe the key features of the GIPS standards and the fundamentals of compliance;
b. describe the scope of the GIPS standards with respect to an investment firm’s definition and historical performance record;
c. explain how the GIPS standards are implemented in countries with existing standards for performance reporting and describe the appropriate response when the GIPS standards and local regulations conflict;
d. describe the nine major sections of the GIPS standards.
0/7