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. Investor questionnaires help to determine what?






2. benefits of IPS to client






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






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






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

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






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






8. four types of investors






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






10. If human capital is equity-like/fixed-income like - how should you generally allocate financial assets?






11. What are the main types of investors?






12. characteristics of maintenance phase






13. If human capital is equity-like/fixed-income like - how should you generally allocate financial assets?






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






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






16. Describe a cautious investor personality type.






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






18. As probability of death increases...






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






20. characteristics of distribution phase






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






22. What are the equity holding life risk attributes for an entrepreneur?






23. What are the benefits of an IPS to the client?






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






25. What is core capital?






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

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






28. template for return objective






29. What are the diffferent types of tax jurisdictions?






30. What are the main characteristics of chritable gifts?






31. Describe asset segregation in a behavioral finance context.






32. Define tax drag.






33. What are the different types of trusts?






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






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






36. What are the psychological issues of low basis stock held by an executive?






37. As wealth increases...






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






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






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






41. Describe a methodical investor personality type.






42. Describe the different types of double taxation conflicts.






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






44. How is mortality risk typically hedged?






45. typical IPS elements






46. What is human capital?






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






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






49. Describe a cautious investor personality type.






50. What are the main characteristics of variable annuities?

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