Hi guys, the question was about which item is least likely an error in presentation for GIPS.
Was wondering why B) is not the correct answer? Since Note 3 is indeed a requirement under GIPS, then it’s not an error to include it?
The note omits the policy for calculating returns… really tricky one. The correct answer should be composite % of firm assets as being least likely incorrect (CFAI did this wrong, poor wording). The note is incorrect like I said and the standard deviation is incorrect as well since it doesn’t include both benchmark and composite together.
Thanks Moonborne. Gosh GIPS has been really tough for me, I just can’t remember all the nitty gritty points.