Chartered Financial Analyst Level 1 test

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CFA Level 1 - Ethical and Professional Standards - Global Investment Performance Standards

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According to the Global Investment Performance Standards (GIPS), which of the following is true regarding the use of carve-outs in composite construction?

Carve-outs can be included in composites even if they do not represent a standalone portfolio as long as their cash flows are tracked separately

Carve-outs must be representative of a standalone portfolio managed according to a similar strategy

Carve-outs from multiple asset class portfolios can be included in single asset class composites if the carve-outs are managed with their own cash balance

According to the Global Investment Performance Standards (GIPS), which of the following is true regarding the use of carve-outs in composite construction? .spinner_0XTQ{transform-origin:center;animation:spinner_y6GP .75s linear infinite}@keyframes spinner_y6GP{100%{transform:rotate(360deg)}}

According to the Global Investment Performance Standards (GIPS), which of the following is true regarding the use of carve-outs in composite construction?