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 steps involved in creating an IPS?






2. What is measure of wealth?






3. What are the diffferent types of tax jurisdictions?






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






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






6. What are the main characteristics of the foundation phase of life?






7. What are the disadvantages of an outright sale of low basis stock?






8. What are the main characteristics of chritable gifts?






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






10. Define tax drag.






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






12. What is the general relationship b/t a client's perception of wealth and risk willingness?






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






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






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






16. What is the difference b/t a required and desired return objective?






17. What are wealth taxes.






18. Describe a methodical investor personality type.






19. As wealth increases...






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






21. What are the main characteristics of variable annuities?






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






23. characteristics of foundation stage






24. stages of life






25. Any amount above core capital is considered what?






26. In contrast to standard finance (MPT) - behavioral finance assumes individuals do what?






27. Describe biased expectations in a behavioral finance context.






28. As age increases..






29. template for return objective






30. What are the advantages of private exchange funds for low basis stock?






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






32. Describe an individualistic investor personality type.






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






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






35. What progressive tax regimes do not have favorable treatment for interest income/dividend income/capital gains?






36. characteristics of methodical investor






37. characteristics of accumulation phase






38. What are typical characteristics of active wealth creators?






39. What are the disadvantages of private exchange funds for low basis stock?






40. Equation for total wealth.






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






42. What are the different types of trusts?






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






44. What are the different global tax regimes and their respective ordinary income tax structure?






45. What are the different types of trusts?






46. What progressive tax regimes do not have favorable treatment for interest income/dividend income/capital gains?






47. In contrast to standard finance (MPT) - behavioral finance assumes individuals do what?






48. What is the reinvestment caveat when considering tax loss harvesting?






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






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