Established by the CFA Institute, the CIPM program is a specialty credentialing program that develops and recognizes the performance evaluation and presentation expertise of investment professionals. CIPM consists of two exams: Principles and Expert. The Principles level emphasizes the conceptual foundations of performance measurement, attribution, and appraisal as well as the provisions of the GIPS standards. The Expert level emphasizes performance evaluation and presentation, including application of the appropriate tools and inputs in more complex situations and the GIPS® Guidance Statements.