CFA CFA Level 3 How do you tackle GIPS?

How do you tackle GIPS?

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      @vincentt‌ – what I did when I took Level 3 was to make notes on them during revision, and just cram them in my brain only in the last week of studying. I got quite paranoid getting all the GIPs questions wrong.

      If I recall correctly, I managed to summarise GIPS on 1 A4 sheet, and just ignored that paper until the last week to revise it again as it’s pure memory work (not logical).

    • Avatar of RaviVoodaRaviVooda
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        • CFA Level 3
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        @vincentt‌ , my opinion is keep it to last, remember as much as possible. I would not like to miss out questions on ethics and GIPS as they are scoring and requires very little logic atleast for GIPS. However I did bad in ethics in L2 got in 50-70 range.

        Coming to questions, I do not think CFAI would give more emphasis on testing logics like prior to x, beginning of x but prior to y kind of questions, as they stress more of logic and intention in my opinion.

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        @vincentt if they actually applied all those LOS, it would make a mockery of the entire CFA process; “nevermind all that vaguely relevant, incredibly difficult stuff you just learnt, here’s a test of some private agenda we’re trying to ram down your throats”. Just look at 35m…

      • Avatar of BetankrichBetankrich
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          Make short bullet points as most of the questions are actually on law content. Brezee through bullet points of few pages and answer.

        • Avatar of vincenttvincentt
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            • CFA Level 3
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            @sophie how detail do you have to know the content of GIPS? Would it be fair to say we just have to know the latest requirements and recommendations? Because I feel if candidate is expected to know all the rules for all the standards including the prior to x, beginning of x but prior to y, etc is a little ridiculous which could be easily referenced in real life. @Jwa

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            Kinda agree with @jwa and @RaviVooda‌ here. It’s one of those things that I’d leave last to cram but wouldn’t want to ignore. It is difficult to say what we should know as being “reasonable” – so I’d say go on a best effort basis. If I had to choose, yes I’d say knowing the latest requirements and recommendations is a fair assessment.

            That said, I don’t know if the LOS has changed since my time. What does the GIPS LOS say @vincentt‌ ? That may help provide some direction.

          • Avatar of vincenttvincentt
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              • CFA Level 3
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              @RaviVooda‌ @sophie @Jwa ya this is my last reading now before I hit the EOC questions.

              This is the GIPS LOS
              http://www.cfainstitute.org/CFA%20Program%20Study%20Session/2014_L3_SS18.pdf

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              @vincentt I didn’t bother, TBH. But I wouldn’t advise that approach. The appending of GIPs onto LIII is possibly the thing I hate most about CFA.

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