Test your basic knowledge |

Private Wealth Management

Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. What is the person called that transfers assets through a will?






2. typical IPS elements






3. What are the main characteristics of the distribution phase of life?






4. What is tax alpha?






5. What is another name for a variable prepaid forward and What is its main purpose?






6. What are the different methods of relief from double taxation?






7. Describe a methodical investor personality type.






8. Why do individuals often take steps to avoid probate?






9. Describe the equity holding life three stages from the perspective of the stock.






10. What are the main characteristics of the accumulation phase of life?






11. Describe asset segregation in a behavioral finance context.






12. characteristics of cautious investor

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13. What are the benefits of an IPS to the adviser?






14. Human capital is sometimes referred to as what?






15. What are the problems that financial advisers can face with low basis stock?






16. What is an equity collar? What is the purpose of the underlying positions






17. What are the main characteristics of the maintenance phase of life?






18. Generally - how does portfolio size - liquidity - time horizon - and/or importance of spending affect ability to tolerate risk?






19. What are the advantages of public exchange funds for low basis stock?






20. What is intestate?






21. four types of investors






22. What are the psychological issues of low basis stock held by an investor?






23. Describe the different types of double taxation conflicts.






24. What are the advantages of public exchange funds for low basis stock?






25. What are the disadvantages of hedging for low basis stock?






26. What are the psychological issues of low basis stock held by an executive?






27. Human capital is sometimes referred to as what?






28. When dealing with low basis stock - emotional issues can arise from what?






29. What is core capital?






30. What are investment objectives and constraints?






31. The client's risk tolerance (mostly willingness) is affected by what personal characteristics?






32. Why do individuals often take steps to avoid probate?






33. What should an investor use in mean-variance optimization






34. stages of life






35. What are the different retirment risks and how can they be hedged?






36. What is intestate?






37. What are the different methods of relief from double taxation?






38. Who is responsible for gains/losses in a taxable (accrual taxation) account?






39. If human capital is equity-like/fixed-income like - how should you generally allocate financial assets?






40. Equation for total wealth.






41. What are the 3 categories of investors when discussing concentrated positions?






42. situational profiling

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43. An investor's ability to take risk depends on what?

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44. What are the different types of trusts?






45. characteristics of spontaneous investor

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46. four types of investors






47. characteristics of foundation stage






48. psychological profiling






49. What are the main characteristics of the distribution phase of life?






50. All costs associated with probate are born by whom?

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