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CFA Institute CFA-Level-I Exam - Topic 1 Question 19 Discussion

According to the AIMR-PPS, terminated portfolios are included in the composite for how long after termination?
C) Composites should include the terminated portfolio for the last full performance measurement period under which the portfolios were managed.
A) Composites must include terminated portfolios after the last full performance measurement period the portfolios were under management.
B) Composites should include the terminated portfolio only until the date of termination.
D) Composites should include the terminated portfolio for the full ten years required by the Standards for performance reporting.

CFA Institute CFA-Level-I Exam - Topic 1 Question 19 Discussion

Actual exam question for CFA Institute's CFA-Level-I exam
Question #: 19
Topic #: 1
[All CFA-Level-I Questions]

According to the AIMR-PPS, terminated portfolios are included in the composite for how long after termination?

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Suggested Answer: C
by Miesha at Jul 08, 2025, 11:55 AM

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Gilma
8 months ago
I thought it was D, but A makes sense too.
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Rebbecca
8 months ago
Wait, is it really just until the last measurement period? Seems off.
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Ryan
8 months ago
Totally agree, A is the right choice!
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Glory
9 months ago
No way, I thought terminated portfolios were excluded immediately!
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Tracey
9 months ago
It's A, they include terminated portfolios after the last full performance period.
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Holley
9 months ago
I thought it was for the full ten years, but that seems excessive. I need to double-check if that's really what the standards say.
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Tiffiny
9 months ago
I feel like the AIMR-PPS guidelines mentioned something about including terminated portfolios for a specific time frame, but I can't recall if it was until termination or for a period after.
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King
10 months ago
I remember practicing a question similar to this, and I think the answer was about including them for the last full period, but I could be mixing it up with another topic.
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Teri
10 months ago
I think terminated portfolios are included until the last full performance measurement period they were under management, but I'm not entirely sure.
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Laurene
10 months ago
Okay, let me walk through this methodically. The key is understanding the AIMR-PPS guidelines on terminated portfolios. I think I can figure this out.
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Zack
10 months ago
Ah, I remember learning about this in my performance reporting class. I'm pretty confident the answer is A - the terminated portfolio must be included after the last full performance measurement period.
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Billye
10 months ago
I'm a bit confused on this one. I know the AIMR-PPS has specific requirements, but I can't quite remember the details. I'll have to think it through step-by-step.
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Quentin
10 months ago
I think the answer is C - the terminated portfolio should be included for the last full performance measurement period under which it was managed. That sounds like the most logical approach to me.
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Hubert
11 months ago
Hmm, this is a tricky one. I'll need to carefully review the AIMR-PPS guidelines to determine the correct answer.
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