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Prep Packages for the CFA® Program offered by AnalystPrep (study notes, video lessons, question bank, mock exams, and much more): Level I: https://analystprep.com/shop/cfa-leve... Level II: https://analystprep.com/shop/learn-pr... Level III: https://analystprep.com/shop/cfa-leve... Levels I, II & III (Lifetime access): https://analystprep.com/shop/cfa-unli... Prep Packages for the FRM® Program: FRM Part I & Part II (Lifetime access): https://analystprep.com/shop/unlimite... Topic 11 – Ethical and Professional Standards Overview of the Global Investment Performance Standards – Part I LOS : Discuss the objectives and scope of the GIPS standards and their benefits to prospective clients and investors, as well as investment managers. LOS : Explain the fundamentals of compliance with the GIPS standards, including the definition of the firm and the firm’s definition of discretion. LOS : Discuss requirements of the GIPS standards with respect to return calculation methodologies, including the treatment of external cash flows, cash and cash equivalents, and expenses and fees.