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 accumulation phase






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






3. What are the main characteristics of variable annuities?

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4. benefits of IPS to client






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






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






7. Describe a spontaneous investor personality type.






8. How is mortality risk typically hedged?






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






10. Any amount above core capital is considered what?






11. As age increases..






12. characteristics of cautious investor

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13. Equation for total wealth.






14. What is loss aversion?






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






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






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






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






19. What are the main characteristics of fixed annuities?

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






21. characteristics of maintenance phase






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






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






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






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






26. benefits of IPS to manager






27. Define tax drag.






28. What is core capital?






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






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






31. four types of investors






32. What are the two sources of wealth?






33. What is core capital?






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






35. What is human capital?






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






37. stages of life






38. What are the main characteristics of chritable gifts?






39. stages of life






40. What are the main types of investors?






41. What are the different types of trusts?






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






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






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






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






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






47. characteristics of distribution phase






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






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






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