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THE CIPM

DESIGNATION

The CIPM program offers the global financeindustrys only designation dedicated to

both the highest ethical standards and

the practical skills/knowledge required

to effectively evaluate and communicate

investment performance.

The CIPM program is designed to meetthe needs of investment professionals

whose responsibilities include performance

evaluation. Program study materials offer

thorough practical training in performance

measurement, presentation, attribution,

appraisal, and investment manager selection.

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WHO CAN BENEFIT? Investment performance analysts Portfolio managers

Risk managers

Client and consultant relationship managers

Portfolio accountants

Plan sponsors

Manager of managers

Financial advisors/planners

Compliance officers

FEATURES The program consists of two exams.

Principles Levelemphasizes the conceptual

fundamentals of performance measurement,

attribution, appraisal, manager selection,

ethical and professional standards.

Experts Levelemphasizes performance evaluation

and presentation, including practical application

of the appropriate tools and inputs in real world

situations and the treatment of the GIPS standards.

The program is an accessible self-

study program requiring approximately

100 hours of study for each level.

Professor and regulator scholarships are available.

ENROLLMENT PERIOD EXAM WINDOW

1 May31 July 1 Oct-31 Oct 2012

1 Nov31 Jan 1 Apr-30 Apr 2013*

ENROLLMENT FEES

Principles and Expert Levels US$975

Returning Candidates US$500

*The above competency weightings will be available for the April

2013 exam.

COMPETENCY-BASED CURRICULUM

Performance Evaluation (70%)

Performance Measurement

Select, calculate, and interpret the appropriate return/risk measures.

Communicate the return/risk measures.

Performance Attribution

Select an appropriate performance/risk attribution methodology.

Select valid benchmarks for use in a performance attribution analysis.

Prepare and critique a performance/risk attribution analysis for an equity or

fixed-income manager.

Communicate the results of the performance/risk attribution analysis.

Performance Appraisal

Select an appropriate performance appraisal methodology to evaluateinvestment management skill.

Prepare and critique a performance appraisal analysis.

Recommend the continuance or dismissal of an investment manager based

on assessment of investment skill.

Manager Selection

Formulate manager selection criteria for a fund or investment strategy.

Identify and critique the use of various style analysis methodologies.

Recommend the hiring of an investment manager(s) based on selection criteria.

Ethical and Professional Standards (30%)

Investment Performance and Reporting Standards

Explain the purposes of the GIPS Standards in a manner which facilitates

the understanding of their relevance to the investment presentation process.

Prepare performance reports based on the GIPS standards in a

manner that fulfills the claim of compliance with the Standards

Prepare investment performance reports in a manner that

fulfills the need for evaluating investment performance.

Ethics

Determine the professional standards of practice that apply to workplace

activities and decisions with the purpose of ensuring that the investment

professional and his/her firm act in the best interests of clients.

Recommend an ethical course of action when ethical issues

arise in the investment performance workplace.