“GLOBAL INVESTMENT PERFORMANCE STANDARDS,” INCLUDING APPENDIX A (AI...
6. “Global Investment Performance Standards,” including Appendix A (AIMR, 1999) Purpose: To test the candidate’s: a) understanding of the Global Investment Performance Standards and the Performance Presentation Standards, and b) ability to determine whether performance reports are in compliance with these standards. LOS: The candidate should be able to AIMR Performance Presentation Standards Handbook and “AIMR’s Performance Presentation Standards” (Study Session 17) b) describe and explain the requirements and recommendations of the AIMR-PPS standards with regard to composite construction and maintenance, performance presentation, calculation of returns, and disclosures; c) evaluate a sample performance presentation to determine whether the presentation complies with the AIMR-PPS standards; d) recommend changes to a sample performance presentation that would bring the presentation into compliance with the AIMR-PPS standards. “Moosehead Investment Management” (Study Session 17) a) evaluate a performance presentation to determine any violations of the AIMR-PPS standards and AIMR Standards of Professional Conduct; c) revise a performance presentation so that it complies with the AIMR-PPS standards. “How Should Plan Sponsors Approach AIMR Performance Presentation Standards (PPS)?-Learning from the Kentucky Retirement System Example” (Study Session 17) a) identify the violations of the AIMR-PPS standards; b) recommend changes to the performance presentations that would bring the presentations into compliance with the AIMR-PPS standards. Question 5, including Guideline Answer (Study Session 17) Criticize a performance presentation that is not in compliance with the AIMR-PPS standards. “Global Investment Performance Standards” (Study Session 17) c) describe and explain the requirements and recommendations of GIPS with regard to input data, calculation methodology, composite construction, disclosures, and presentation and reporting; d) describe and explain the minimum procedures that must be followed to verify that an investment entity is GIPS compliant.