The major functional areas covered by the CIPM body of knowledge are:

• Ethical and professional standards
• Performance evaluation
• The Global Investment Performance Standards (GIPS)

The Code of Ethics
The Standards of Professional Conduct

  Rate-of-Return Calculations:

Time Weighted
Money Weighted
Approximation Methods
Return Compounding
Multicurrency
Real Estate
Private Equity
After Tax
Portfolios Containing Futures and Options
Prior-Period Adjustments

   Benchmark Selection:

Validity and Quality
Style Analysis
Capitalization vs. Equal Weighting
Liability-Based Benchmarks
Strategy Benchmarks

  Attribution Analysis:

Arithmetic
Geometric
Multi-Period Smoothing
Total-Fund Level
Multicurrency
Portfolios Containing Futures
Long−Short and Market-Neutral Strategies
Zero-Weight Sectors
Security Level
Transaction vs. Holding Based
Fixed Income
Multifactor Models
Equity Portfolio Characteristics

  Ex Post Risk Measures:

Alpha and Beta
Standard Deviation and Tracking Error
Ratios (Treynor, Sharpe, Information, M2)
Downside Risk (Shortfall Risk, Expected Shortfall Value, Semideviation, Downside Deviation, Sortino Ratio)
Hedge Fund Risk (Calmar and Sterling Ratios and Qualitative Factors)
Value at Risk (VaR)

  Performance Evaluation:

Appraising Value Added
Investment Philosophy
Manager Continuation Policies
Quality Control Chart

The GIPS Standards

Fundamentals of Compliance
Input Data
Calculation Methodology
Composites
Carve-Outs
Disclosures
Presentation and Reporting
Error Correction
Real Estate
Private Equity
Verification
Performance Examinations
Advertising Guidelines
Guidance Statements