by admin | Sep 25, 2012 | CIPM, CIPM Exam Tips & Tricks, CIPM expert, CIPM Principles, CIPM Q and A
Tomorrow, I will be hosting an open Q & A (question and answer) session for CIPM candidates. This is a chance for you to ask questions as you are (hopefully) doing your final studying for October’s exams! The session is open to both Principles...
by admin | Sep 12, 2012 | CIPM, CIPM Exam Tips & Tricks, CIPM expert, CIPM Principles, duties to employer, employee loyalty to employer, ethics, loyalty, Standards of Professional Conduct, whistle-blowing
There was good news in the media this morning, as the United States Internal Revenue Service (IRS) awarded a former UBS employee in the amount of $104 million USD for “whistle-blowing” regarding activities at UBS that assisted some of the firm’s...
by admin | Sep 10, 2012 | CIPM, CIPM expert, GIPS, internal rate of return, performance measurement, SI-IRR, since inception internal rate of return, time-weighted return
CIPM Expert Level candidates must know what return calculations are required by the Global Investment Performance Standards (GIPS(r)), and in which circumstances. Most of the time, time-weighted return (TWR) is required, but in some cases a since inception...
by admin | Sep 8, 2012 | bond prices, Campisi model, CIPM, CIPM Exam Tips & Tricks, CIPM expert, fixed income attribution, performance attribution, performance measurement, risk-free yield curve
The CIPM curriculum does not give much of an explanation of bond pricing in relation to interest rates, so here is a brief primer.Price change on bonds can be explained by how interest rates change during the period.Bonds are a lending agreement: the purchaser...
by admin | Aug 31, 2012 | Campisi model, CIPM, CIPM Exam Tips & Tricks, CIPM expert, fixed income attribution, income contribution
Recall from my previous posting, the steps to executing the Campisi fixed income attribution model are:Decompose the benchmark return into:- income contribution- Treasury contribution (i.e., price change due to changes in Treasury rates)- spread contribution (i.e.,...
by admin | Aug 25, 2012 | CIPM, CIPM Exam Tips & Tricks, CIPM Principles, GIPS, performance measurement
Last week, when I was teaching TSG’s CIPM Exam prep class for the Principles Level, a student asked me for help with a question on a sample exam from CFA Institute. The question read: Which of the following is most likely not a requirement of the GIPS...