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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 cautious investor

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






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






4. How does the nature of human capital affect the demand for life insurance?






5. How does the nature of human capital affect the demand for life insurance?






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






7. template for return objective






8. situational profiling - considerations






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






10. What are the different retirment risks and how can they be hedged?






11. characteristics of individualist investor






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






13. Define capital gains taxes.






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






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






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






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






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






19. What is human capital?






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






21. What should an investor use in mean-variance optimization






22. What are the main characteristics of variable annuities?

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23. What are wealth taxes.






24. template for return objective






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






26. As age increases..






27. How is mortality risk typically hedged?






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






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






30. Describe a spontaneous investor personality type.






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

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32. Describe asset segregation in a behavioral finance context.






33. Describe biased expectations in a behavioral finance context.






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






35. What are the main characteristics of fixed annuities?

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






37. When should you use a tax-exempt versus a tax-deferred account?






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






39. characteristics of accumulation phase






40. As desire to leave an estate increases...






41. characteristics of methodical investor






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






43. characteristics of maintenance phase






44. What is HIFO accounting?






45. Describe the different types of double taxation conflicts.






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






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






48. characteristics of foundation stage






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






50. What are the different types of trusts?