Is This Paragraph On Internal Rate Of Return Incorrect?

[gentleman2222]

I came across this paragraph on Internal Rate of Return (IRR):

"IRR, on the other hand, computes a breakeven rate of return. At any discount rate below the IRR, an investment would result in a positive NPV (and should be made). If the appropriate discount rate is above the IRR, then the investment will result in a negative NPV (and should be avoided). It's the breakeven discount rate - the rate at which the value of cash outflows equals the value of the cash inflows"

Correct me if I mistaken, but can't IRR be a sort of "hurdle rate" such that if your IRR for a project exceeds the hurdle rate, then you *should* invest in the project. And if the IRR for a project is less than your hurdle rate, you should *not* invest the project? Or is the paragraph correct?

[fiction-factory]

I think it's okay on first reading.
Change the sentence round:
"At any discount rate BELOW the IRR, an investment would result in a positive NPV (and should be made)."
can be rewritten as
"If the IRR is ABOVE the discount rate, an investment would result in a positive NPV (and should be made)

[Peter Pedant]

yeah it is correct, are you doing AAT level 3 ?
if so bad luck - I am up for my fifth go - last formal teaching May 17 - when the pass rate was 10% and the CEO onbe Mark Farrar said - it is meant to work like that.
I have contacted OfS on how bad it is - but they arent interested.

recollect a bit later they say - if IRR and NPV disagree go for NPV which kinda makes you wonder what IRR is for anyway.