NO.PZ201603110100003204
问题如下：
4. Which of the following statements is most accurate? Herrschaft’s advertisement does not satisfy an applicable requirement of the GIPS Advertising Guidelines because it fails to include all salient features in its description of the:
选项：
A.firm.
B.composite strategy.
C.extent and use of leverage and derivatives.
解释：
B is correct.
Herrschaft’s description of the composite strategy is uninformative. It would most likely be possible for Herrschaft to provide a more satisfactory description without revealing its trade secrets. A is incorrect because the description of the firm is adequate. C is incorrect because Herrschaft states that derivatives are used solely for the purpose of efficient management of cash flows. GIPS Provision III.B.11 states, "All advertisements that include a claim of compliance with the GIPS standards by following the GIPS Advertising Guidelines must disclose the following: The presence, use, and extent of leverage, derivatives, and short positions, if material, including a description of the frequency of use and characteristics of the instruments sufficient to identify risks". Consequently, a description of the use and extent of leverage or derivatives is not required in this case. (See Sections 3.11 and 5 of the reading.)
composite strategy 在讲义上是不是没有写？0-5里也没有相关描述吗？
