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Source Readings

 

The reading assignments will give you a solid professional foundation and help you prepare for the CIPM exams. The readings include a combination of journal articles, textbook chapters, and specially designed content to help you master the topics in the CIPM body of knowledge. Carefully studying the readings after working through each online courseware lesson will provide you with a firm foundation as you prepare for the exams.

 

The curriculum for the 2008 Principles exam contains the following source readings:

  • CIPM Association Code of Ethics and Standards of Professional Conduct (CFA Institute, 2006)
  • “Ethics in Practice,” Philip Lawton (CFA Institute, 2005; rev. 2006)
  • “Evaluating Portfolio Performance,” Jeffery V. Bailey, Thomas M. Richards, and David E. Tierney, Managing Investment Portfolios: A Dynamic Process, 3rd edition, John L. Maginn, Donald L. Tuttle, Dennis W. McLeavey, and Jerald E. Pinto, eds. (CFA Institute, 2007)
  • “Equity Portfolio Characteristics in Performance Analysis,” Stephen C. Gaudette and Philip Lawton (CFA Institute, 2007)
  • Benchmarks and Investment Management, “U.S. Equity Style Indexes,” Laurence B. Siegel (The CFA Institute Research Foundation, 2003)
  • “Global Investment Performance Standards,” Philip Lawton and W. Bruce Remington, Managing Investment Portfolios: A Dynamic Process, 3rd edition, John L. Maginn, Donald L. Tuttle, Dennis W. McLeavey, and Jerald E. Pinto, eds. (CFA Institute, 2007)
  • “Global Investment Performance Standards (GIPS),” CFA Institute, 2005

 

The curriculum for the 2008 Expert exam contains the following source readings: 

  • CIPM Association Code of Ethics and Standards of Professional Conduct
  • CFA Institute Standards of Practice Handbook (ninth edition, CFA Institute, 2005)—all sections except Standard VII
  • CIPM Association Guidance for Standard VII
  • Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, and David E. Runkle, “Portfolio Return Measurement,” Quantitative Methods for Investment Analysis (2nd edition, CFA Institute, 2004)
  • Timothy P. Ryan, “Return Compounding: Essential Insights and Practical Implications,” The Journal of Performance Measurement, vol. 7 no. 3 (Spring 2003)
  • John C. Stannard, “Measuring Investment Returns of Portfolios Containing Futures and Options,” The Journal of Performance Measurement, vol.1 no. 1 (Fall 1996)
  • Bruno Solnik and Dennis McLeavey, “The Mathematics of Multicurrency Returns,” in “Global Performance Evaluation,” Chapter 12 in International Investments, 5th ed. (Addison Wesley, 2004)
  • David Spaulding and Stefan Illmer, “Adjustments to Prior Period Returns,” The Journal of Performance Measurement, vol. 7 no. 4 (Summer 2003)
  • Laurence B. Siegel, Benchmarks and Investment Management, Research Foundation of CFA Institute, 2003
  • David E. Kuenzi, “Strategy Benchmarks,” Journal of Portfolio Management (Winter 2003)
  • Bruce J. Feibel, “Investment Performance Measurement” (Wiley, 2003)
  • Douglas S. Rogers and Christopher J. Van Dyke, “Measuring the Volatility of Hedge Fund Returns,” Journal of Wealth Management (Summer 2006)
  • Carl Bacon, “Performance Attribution,” Chapter 5 in Practical Portfolio Performance Measurement and Attribution (Wiley, 2004)
  • “Introduction to Carl Bacon’s Notation” (CFA Institute, 2006)
  • Jose Menchero, “Performance Attribution with Short Positions,” Journal of Performance Measurement (Winter 2002/2003)
  • John C. Stannard, “Measuring Investment Returns of Portfolios Containing Derivatives: Part II – Performance Attribution,” Journal of Performance Measurement, vol. 3 no. 3 (Spring 1997)
  • Gifford Fong, Charles Pearson, and Oldrich Vasicek, “Bond Performance: Analyzing Sources of Return,” Journal of Portfolio Management (Spring 1983)
  • Stephen Campisi, “Primer on Fixed Income Performance Attribution,” Journal of Performance Measurement, vol. 4 no. 4 (Summer 2000)
  • Supplement to Stephen Campisi, “Primer on Fixed Income Performance Attribution” (CFA Institute, 2006)
  • Gerard van Breukelen, “Fixed Income Attribution,” Journal of Performance Measurement, vol. 4 no. 4 (Summer 2000)
  • Supplement to Gerard van Breukelen, “Fixed Income Attribution” (CFA Institute, 2006)
  • Russell L. Olson, “Managing Investment Managers,” Chapter 6 in The Independent Fiduciary (Wiley, 1999)
  • John Minahan, “The Role of Investment Philosophy in Evaluating Investment Managers,” The Journal of Investing (Summer 2006)
  • GIPS Handbook (2nd edition, CFA Institute, 2006)
  • “Global Investment Performance Standards (GIPS®),” (CFA Institute, 2005)
  • Guidance Statement on Definition of the Firm (Revised 2006)
  • Guidance Statement on Calculation Methodology (Revised 2006)
  • Guidance Statement on the Treatment of Significant Cash Flows (Revised 2006)
  • Interpretive Guidance for Fees Provisions
  • Guidance Statement on Composite Definition (Revised 2006)
  • Guidance Statement on the Treatment of Carve-Outs (Revised 2006)
  • Guidance Statement on Performance Record Portability (Revised 2006)
  • Guidance Statement on the Use of Supplemental Information (Revised 2006)
  • Interpretive Guidance for Real Estate
  • Real Estate Return Formulas (CFA Institute, 2006)
  • Interpretive Guidance for Private Equity
  • Wrap Fee/Separately Managed Account (SMA) Provisions and Guidance for the GIPS Standards
  • Guidance Statement for Verification (Revised 2006)
  • Guidance Statement on Verifier Independence

 

The Learning Outcome Statements will help you determine what you should be able to accomplish after studying the online courseware and readings.