So I just got my results last week and I finally passed the CIPM exam on my second try. First attempt I underestimated how deep the performance attribution section goes — scored a 62 when I needed a 70. Honestly embarrassing given I've been in investment operations for six years, but the exam tests a very specific way of thinking about GIPS compliance that doesn't always match real-world practice.
For round two I completely changed my approach. I spent about eight weeks this time instead of four, and the biggest difference was actually doing timed practice questions rather than just re-reading the curriculum. Found a solid CIPM practice test resource that mirrored the actual question style — especially the constructed-response format, which tripped me up badly the first time. The study guide I used the second time broke down the two-level structure (Principles and Expert) much more clearly.
My exam tips for anyone just starting: don't skip the GIPS standards chapter even if you think you know it, and budget serious time for the risk and return calculation questions. What resources is everyone else using for Level 2?