[CFA level 1模拟真题]Version 4 Questions－Q6 style, include, management, Investment, face

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Q6. According to the Global Investment Performance Standards. (GIPS)

A. composites must include new portfolios as soon as they come under management.

B. Firms may not set minimum asset levels for portfolios to be included in a composite.

C. Composites must be defined according to similar investment objectives and/or strategies.

D. Terminated ,portfolios must be excluded is the historical returns of appropriate composites.

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答案和详解如下：

Q6.  C   07 Modular Level 1, Vol.1, p.134  Study Sessions 1-3-c and 1-4-c (see pp. 117 and 121)

Composites must be defined according to similar investment objectives and/or strategies. In addition, composites must include new portfolios a timely and consistent basis after the portfolio comes under management. Firms may set minimum asset levels for inclusion in a portfolio, but changes to a composite-specific minimum asset level are not permitted retroactively. Terminated portfolios must be included in the historical returns of appropriate composites.

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