单选题 Steven, CFA, manages a portfolio for Derek, a very wealthy client. Derek's portfolio is well diversified with a slight tilt toward capital appreciation. Derek requires very little income from the portfolio. Recently Derek's brother, Simon, has become a client of Steven. Steven proceeds to invest Simon's portfolio in a similar manner to Derek'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 likely correct?

A. Steven violated the Code and Standards by knowingly creating a conflict of interest between Derek's and Simon's portfolios.
B. Steven violated the Code and Standards by failing to determine Simon's objectives and constraints prior to investing his portfolio.
C. Steven did not violate the Code and Standards.

【正确答案】 B

【答案解析】[解析] 本题主要涉及执业操守标准Ⅲ(C)(合理性)的相关规定。根据执业操守标准的要求，会员在判断一项投资活动是否符合客户的需求和具体情况时，首先需要确定客户的投资目标和限制。显然，仅凭德里克和西蒙两兄弟具有类似的生活方式且年龄相仿，并不足以推断出两人具有相同的投资目标和限制。除了上述两方面(生活方式和年龄)的因素以外，投资目标和限制还受许多因素的影响，如个人资产情况、资金需求情况和对风险所持的态度等。因此，在进行投资组合的投资活动以前，史蒂文应当向西蒙了解其投资目标和限制情况。综上所述，本题的正确选项应当为B。