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. characteristics of foundation stage






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






3. Human capital is sometimes referred to as what?






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






5. Describe a spontaneous investor personality type.






6. characteristics of individualist investor






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






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

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






10. What is core capital?






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






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






13. Define tax drag.






14. What is the most common estate planning tool?






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






16. characteristics of spontaneous investor

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17. typical IPS elements






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






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






20. What are the different stages of life?






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






22. Investor questionnaires help to determine what?






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






24. four types of investors






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






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






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






28. What are the diffferent types of tax jurisdictions?






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






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






31. As wealth increases...






32. characteristics of accumulation phase






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






34. stages of life






35. sources of wealth






36. Equation for total wealth.






37. Describe a cautious investor personality type.






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

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






40. Describe an individualistic investor personality type.






41. Define capital gains taxes.






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






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

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






45. How is mortality risk typically hedged?






46. As age increases..






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






48. characteristics of methodical investor






49. What are the main characteristics of chritable gifts?






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