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 tax alpha?






2. How is demand for insurance affected by risk tolerance - financial wealth - probability of death - age - and bequest desire?






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






4. What are the main characteristics of chritable gifts?






5. What are the disadvantages of public exchange funds for low basis stock?






6. characteristics of maintenance phase






7. What are the main types of investors?






8. What are the disadvantages of completion portfolios for low basis stock?






9. How is mortality risk typically hedged?






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






11. characteristics of methodical investor






12. sources of wealth






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






14. What are the equity holding life risk attributes for an entrepreneur?






15. characteristics of cautious investor

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16. Why would an individual try to use generation skipping in estate planning?






17. Describe asset segregation in a behavioral finance context.






18. What is the person called that transfers assets through a will?






19. What are the equity holding life risk attributes for an investor?






20. What is core capital?






21. situational profiling - considerations






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

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23. What is intestate?






24. four types of investors






25. situational profiling

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26. When calculating a required return - you typically must identify what?






27. What is human capital?






28. characteristics of spontaneous investor

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






30. characteristics of cautious investor

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31. Equation for total wealth.






32. What are typical characteristics of active wealth creators?






33. characteristics of maintenance phase






34. What are the benefits of an IPS to the client?






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






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






37. characteristics of distribution phase






38. What are the steps involved in creating an IPS?

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






40. What are the different types of trusts?






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






42. What are the equity holding life risk attributes for an executive?






43. characteristics of individualist investor






44. Describe a spontaneous investor personality type.






45. Calculating the required return component is driven by what 2 elements?






46. What is tax alpha?






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






48. What risks must be considered when discussing each concentrated investor category?






49. When calculating a required return - you typically must identify what?






50. What happens to both tax drag $ and tax drag % with holding period changes and return changes?