【羿文寄语】不刻苦而求速度，只落得少年浮夸。考试不能只求快，更要注重质量。

CFA考试Level Ⅰ

【单选题】

Mason Smith is divying to decide which of the following composite definitions, submitted by his junior analysts, would be considered an accepdiv composite according to GIPS.An accepdiv composite can include all:

A.accounts that are managed directly from the firm's Hong Kong office.

B.actively managed portfolios, but exclude passively managed portfolios.

C.portfolios that are managed to provide a return approximately equal to that of the S&P 500 Index.

答案：C

【解析】Composites are groups of portfolios that represent a similar investment strategy, objective, or mandate.Clearly, grouping all portfolios managed to mirror the S&P 500 Index return constitutes a composite according to this definition.Organizing composites by office or by a generic active management category is not acceptable as these categories do not reflect any sort of strategy, objective, or mandate.