Which of the following is/are true about the Performance Presentation Standards?

Which of the following is/are true about the Performance Presentation Standards?

I. A member who complies with the mandatory requirements of the PPS but does not follow the recommended requirements can publicly claim compliance with the PPS.

II. The PPS are designed to be primarily a performance measurement framework.

III. The Standards are not designed to enhance or detract from the presentation of historical results.
A . III only
B . II and III only
C . I, II and III
D . I and III only

Answer: D

Explanation:

The PPS are designed to be primarily a performance presentation system, not a performance measurement system. The Standards are not designed to enhance or detract from the usefulness of the information in historical results, though it does restrict the way they are to be presented. The PPS are voluntary standards and are not necessarily binding on AIMR members. Some standards are mandatory while others are recommended. To claim compliance, members must abide by the mandatory requirements, at the very least.

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