Just in case you didn't notice, CFA Institute has indicated on their web page that the exam results for the Spring 2012 window will be sent to candidates soon:CIPM Exam Results April 2012 exam results will be e-mailed after 9:00 a.m. ET on 13 June.Hope you all did...
CIPM Exam Tips & Tricks
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Spring 2012 Exam Results coming to you soon from CFA Institute…
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Are Real Estate and Private Equity Part of the Principles Level Curriculum?
A Principles level candidate sent me the following question:Hi John,The CFA institute website has 15 sample questions for the principles exam on their website for anyone considering the program at the below link. Question 14 asks about GIPS private equity valuation...
Expert Level Sample Exam Question #6, revisited
In a previous blog post, I covered the answers to two CIPM Expert Level sample exam questions, specifically, #5 and #6. One current Expert Level candidate asked me to elaborate on the answer, asking which formula(e) in the curriculum could be used to...
List of Formulae – Principles Level
I am teaching TSG's prep class for the CIPM Principles and Expert level exams this week in Chicago, and it became apparent to me that most of the students in the class were not aware that CFA Institute has a "List of Formulas" document as part of the curriculum that...
Standard Deviation as Internal and External Dispersion: When Is It Required?
It has actually become apparent to me during the course of conducting GIPS verifications that there is some confusion as to when internal dispersion and external dispersion must be shown. It occurred to me that CIPM candidates may have the same...
On futures contracts (and forwards, and more…)
Today's webinar (February 27, 2012 at 9:00 a.m. Pacific time) from TSG's webinar series should be of great interest to Expert Level CIPM candidates, as I will be covering the subject of futures contracts and performance measurement.The webcast is actually on the...
Hoping for the best…
Most of you have already taken the exam, so now I am hoping for the best outcome for all of you.I came across this picture today, which expresses what I try to do when teaching. Hopefully I explained things in as simple a fashion as possible to those of you who...
Macro Attribution: Behind the Return Formulae…
One of the challenges for Principles Level students is dealing with the Macro Attribution model. This model for attribution measures several decisions that a fund sponsor can take to grow its fund. Because of the number of formulae involved, it seems...
Short Position Weights in Menchero Market-Neutral Attribution Framework
An Expert Level candidate sent me a question asking about the formula (shown above) for the asset allocation decision for market-neutral hedge funds, as discussed in the reading, "Performance Attribution with Short Positions" by Jose Menchero, Ph.D.In particular, the...
Duties to One’s Employer…?
A Principles Level candidate asked me for an interpretation of the following ethics related question from one of the practice exams:Angela Schneider, an equity analyst at Isotonic Asset Management, joins the board of trustees of the Lightship Foundation, a large...