【羿文寄语】世上无难事，只要肯登攀。只要肯努力，肯坚持一定会有所收获。

CFA考试Level Ⅰ

【单选题】

Firms that claim to present investment performance in compliance with GIPS are required to:

A.document the procedures and policies they use to ensure GIPS compliance.

B.clearly disclose any calculations or other aspects of a presentation that are non-compliant with GIPS.

C.calculate total firm assets as the fair value of all fee-paying discretionary portfolios managed by the firm.

答案：A

【解析】GIPS Section 0, "Fundamentals of Compliance," states that firms must document their procedures for remaining in compliance with GIPS.Firms which state that they are in compliance with GIPS must comply fully and may not claim partial compliance.GIPS defines total firm assets as the fair value of all portfolios managed by the firm, including discretionary and non-discretionary, fee-paying and non-fee-paying portfolios.