CFA 2026 Level I Ethics GIPS Free Quiz 4

General2 MCQs

31. What is the minimum performance period required by GIPS for each composite?

A. One yearB. Three yearsC. Five yearsD. No minimum

32. When must members and candidates give a fair and complete presentation of performance information?

A. Only when clients request it.B. Only for composites, not for individual accounts.C. Only for individual accounts, not for composites.D. Whenever communicating performance data about accounts, composites, or other groupings.

General2 MCQs

33. What type of standards are the GIPS standards?

A. Ethical standards for investment performance presentation.B. Legal standards for investment performance presentation.C. Guidelines that firms may choose to follow.D. Optional recommendations for performance presentation.

34. What does Standard III(D) require regarding omissions in performance presentations?

A. Can omit information that would make the presentation misleading.B. Must not omit information that would make the presentation misleading.C. Only need to be accurate for institutional clients.D. Only need to be fair, not necessarily complete.

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