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Basic Question 3 of 3

The GIPS least likely require ______.

A. non-discretionary portfolios to be included in composites
B. non-fee-paying portfolios to be excluded in the returns of appropriate composites
C. composites to be defined according to similar investment objectives and/or strategies

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I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.
Edward Liu

Edward Liu

Learning Outcome Statements

explain the purpose of composites in performance reporting

CFA® 2025 Level I Curriculum, Volume 6, Module 4.