2021年CFA考试《Level Ⅰ》考试题库-CFA考试（Level Ⅰ）-Study Session 1　Ethics and Professional Standards-

财会经济-CFA特许金融分析师

单选题-Melvin Byrne, CFA, manages a portfolio for James Martin, a wealthy client. Martin's portfolio is well diversified with a slight tilt toward capital appreciation. Martin requires very little income from the portfolio. Recently, Martin's brother, Cliff, has become a client of Byrne. Byrne proceeds to invest Cliff's portfolio in a similar manner to James's portfolio based on the fact that both brothers have a similar lifestyle and are only two years apart in age. Which of the following statements is most likelycorrect? Byrne:

单选题

A.Violated the Code and Standards by knowingly creating a conflict of interest between James's and Cliff's portfolios.

B.Violated the Code and Standards by failing to determine Cliff's objectives and constraints prior to investing his portfolio.

C.Did not violate the Code and Standards.

我个人认为这个应该是：B

解析：Standard III(C) Suitability requires that before taking investment action, members and candidates must make a reasonable inquiry into a client's or prospect's investment objectives and constraints as well as their prior investment experience．Byrne cannot assume that because the brothers have similar lifestyles and are close in age that they should have similarly managed portfolios. Byrne should have interviewed Cliff directly before investing his portfolio.