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 to obvious but it re-enforces your understanding as you take the test each time.
1. What are the four broad categories of investor personality types (BB&K)?






2. Investor questionnaires help to determine what?






3. characteristics of methodical investor






4. What is measure of wealth?






5. benefits of IPS to manager






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






7. situational profiling






8. What are the diversification techniques for low basis stock?






9. What are the general legal and regulatory considerations for individuals?






10. What is the eifference in willingness to take risk between active and passive wealth creators?






11. What is the general relationship between tax drag% and tax rate with accrual taxes; and as investment horizon increases and return increases?






12. typical IPS elements






13. characteristics of distribution phase






14. Describe asset segregation in a behavioral finance context.






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






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






17. What are the main characteristics of chritable gifts?






18. As probability of death increases...






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






20. What is the general relationship between tax drag% and tax rate when capital gains taxes are deferred and B=1; and as investment horizon increases and return increases?






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






22. Describe biased expectations in a behavioral finance context.






23. What is the most common estate planning tool?






24. situational profiling - considerations






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






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






27. What is the difference between a deterministic approach and a monte carlo approach to portfolio construction?






28. What are typical characteristics of passive recipients of wealth?






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






30. benefits of IPS to client






31. What is loss aversion?






32. Define tax drag.






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






34. What is typically considered when imposing an exit tax?






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






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






37. characteristics of cautious investor






38. Describe a methodical investor personality type.






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






40. sources of wealth






41. What are the two sources of wealth?






42. characteristics of accumulation phase






43. What is intestate?






44. What is the general relationship between tax drag% and tax rate with accrual taxes; and as investment horizon increases and return increases?






45. Describe a cautious investor personality type.






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






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






48. What are the diffferent types of tax jurisdictions?






49. As age increases..






50. What are the main characteristics of fixed annuities?