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






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






3. Human capital is sometimes referred to as what?






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






5. What are the main characteristics of fixed annuities?






6. Define tax drag.






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






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






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






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






11. situational profiling






12. What is another name for a variable prepaid forward and What is its main purpose?






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






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






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






16. What is core capital?






17. What is loss aversion?






18. As age increases..






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






20. template for return objective






21. Describe a cautious investor personality type.






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






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






24. What is HIFO accounting?






25. What is human capital?






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






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






28. Investor questionnaires help to determine what?






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






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






31. What are the two sources of wealth?






32. sources of wealth






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






34. What is core capital?






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






36. Living expenses in retirment can be referred to as what?






37. What is intestate?






38. characteristics of methodical investor






39. Investor questionnaires help to determine what?






40. benefits of IPS to manager






41. What is measure of wealth?






42. How is mortality risk typically hedged?






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






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






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






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






47. How is mortality risk typically hedged?






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






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






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