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. As age increases..






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






3. characteristics of individualist investor






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






5. typical IPS elements






6. What is HIFO accounting?






7. What are the main characteristics of fixed annuities?

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8. What is human capital?






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






10. stages of life






11. characteristics of maintenance phase






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






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

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14. Why would someone want to use a valuation discount?






15. characteristics of spontaneous investor

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






17. characteristics of accumulation phase






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






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






20. What are the advantages of completion portfolios for low basis stock?






21. What are the main types of investors?






22. As age increases..






23. What are the advantages of the monte carlo approach to portfolio construction?






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






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






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






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






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






29. characteristics of foundation stage






30. What are the diffferent types of estate ownership rights?

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31. Human capital is sometimes referred to as what?






32. Any amount above core capital is considered what?






33. What are wealth taxes.






34. typical IPS elements






35. What are the main characteristics of variable annuities?

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36. Define capital gains taxes.






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






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






39. How is mortality risk typically hedged?






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






41. characteristics of distribution phase






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






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






44. What is the most common estate planning tool?






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






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






47. What are the advantages of an outright sale of low basis stock?






48. Equation for total wealth.






49. Any amount above core capital is considered what?






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