Tamber Benz, CFA, recently joined Bay Area Investment Group as a personal financial planner. Today, she has a meeting with a client interested in equity index funds, with a particular interest in learning about the source and direction of biases. In preparation for this meeting, she makes some quick notes (relying on her memory). These notes are listed below. She then finds her well-worn CFA study notes and checks her memory. After reviewing her notes, which of the following choices does she determine is least accurate（）
A. An index such as the Valueline Composite Average is constructed by purchasing an equal number of shares of each stock in the index, and will have a downward bias when geometric averaging is used to compute the return.
B. One problem with an index such as the S&P 500 is that firms with greater market capitalization have more impact than other firms.
C. A market value-weighted index, such as the New York Stock Exchange Index, accurately reflects the impact of price changes on wealth.
