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CFA Institute CFA-Level-I Exam - Topic 1 Question 25 Discussion

Posted by Alline on Jan 05, 2026 at 05:16 AM

For ________ of five or fewer portfolios, the disclosure "five or fewer portfolios" may be made rather than a disclosure of the exact number of portfolios.

Suggested Answer: D
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26 comments · newest first
LE
Leanna 5 months ago
I feel A) returns could be valid too. It's all about performance metrics.
AN
An 5 months ago
I'm leaning towards B) investments. It covers a broader scope.
AL
Alpha 5 months ago
I agree, D) composites feels right. It's about grouping similar portfolios.
VI
Vivan 6 months ago
I think it's D) composites. It makes sense for performance reporting.
MA
Marti 6 months ago
I think it could be B) investments too, but D seems more likely.
DO
Doyle 6 months ago
Wait, are you sure about that? Sounds off.
GA
Gail 6 months ago
Totally agree with D) composites!
CH
Cheryl 6 months ago
I thought it was A) returns?
JO
Jordan 6 months ago
It's definitely D) composites.
LO
Lovetta 7 months ago
Haha, "five or fewer portfolios" - sounds like my investment strategy! I'll go with C) segments.
DA
Dalene 7 months ago
A) returns? Nah, that doesn't sound right. Maybe they're trying to trick us with that one.
LI
Linn 8 months ago
B) investments, definitely. Gotta keep those portfolio numbers on the down-low, am I right?
MO
Monroe 8 months ago
D) composites makes the most sense to me. Who really cares about the exact number of portfolios anyway?
EV
Evette 8 months ago
I think it's C) segments. Disclosing the exact number of portfolios doesn't seem necessary for smaller groups.
CA
Carissa 8 months ago
I’m leaning towards A) returns, but I’m not confident. It could also be D) composites since they often come up in discussions about portfolio disclosures.
JO
Joaquin 8 months ago
I feel like we practiced a question like this before, and it was definitely about segments or composites. I need to think this through.
RO
Rozella 8 months ago
I remember something about disclosures, but I can't recall if it was specifically about returns or investments. This is tricky!
LO
Lorean 9 months ago
I think the answer might be D) composites, but I'm not entirely sure. We discussed something similar in class.
CH
Charolette 9 months ago
This is a good test of my understanding of GIPS requirements. I'm going to carefully read through the options and eliminate the ones that don't fit the description in the question.
DE
Delmy 9 months ago
Okay, let me break this down. The question is asking about when a firm can disclose "five or fewer portfolios" instead of the exact number. I'll need to recall the GIPS rules around that.
IS
Isidra 9 months ago
I'm a little unsure about this one. The wording is a bit tricky, and I'm not 100% sure which option is the correct answer. Gonna have to think it through step-by-step.
LI
Linn 9 months ago
Hmm, this seems like a pretty straightforward compliance question. I'm pretty confident I can narrow it down based on my knowledge of GIPS standards.
AL
Alesia 9 months ago
I think this is asking about portfolio disclosure requirements, so I'll need to focus on the key terms like "portfolios" and "composites." Gotta read the options carefully.
IR
Irving 3 months ago
↳ replying to Alesia
I'm leaning towards segments, though.
RO
Rosio 3 months ago
↳ replying to Alesia
Yeah, composites make sense here.
BE
Beatriz 5 months ago
↳ replying to Alesia
I believe it's about composites.
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