Reading 35 on GIPS has several bold and italic statements that begin with “candidates should read…” and then lists specific sections and provisions in GIPS Standards. Does “should” mean that same thing as “required to”? I initially thought “no” because if I though if it wasn’t in the curriculum, then it isn’t required. However, the statement continues with, “…candidates are not responsible for…” and then it shows the other sections. Any thoughts?
Read those sections.
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Candidates should read Section 2.A, Provisions 2.A.1 through 2.A.39 of the
GIPS Standards for Firms. Candidates are not responsible for the provisions in
Section 2 related to Private Market Investments, Real Estate, Carve-Outs,
Wrap
Fees, and Side Pockets and Subscription Lines of Credit (Provisions 2.A.40
through 2.A.50).
— so this means we need to read for exam till 2.a.39 but not 2.a.40 onwards ?