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 to obvious but it re-enforces your understanding as you take the test each time.
1. Generally - how does portfolio size - liquidity - time horizon - and/or importance of spending affect ability to tolerate risk?






2. What are the two sources of wealth?






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






4. Investor questionnaires help to determine what?






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






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






7. Describe a spontaneous investor personality type.






8. Describe an individualistic investor personality type.






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






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






11. What is HIFO accounting?






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






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






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






15. What is loss aversion?






16. What are typical characteristics of active wealth creators?






17. What are the main characteristics of chritable gifts?






18. What are the benefits of an IPS to the adviser?






19. What are the benefits of an IPS to the adviser?






20. What is core capital?






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






22. An investor's willingness to take risk is determined by what?






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






24. What is the most common estate planning tool?






25. sources of wealth






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






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






28. What are the four broad categories of investor personality types (BB&K)?






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






30. situational profiling






31. template for return objective






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






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






34. Define capital gains taxes.






35. Describe the different types of double taxation conflicts.






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






37. Describe a methodical investor personality type.






38. What are typical characteristics of active wealth creators?






39. How is demand for insurance affected by risk tolerance - financial wealth - probability of death - age - and bequest desire?






40. benefits of IPS to manager






41. As probability of death increases...






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






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






44. What are the different stages of life?






45. What are the different stages of life?






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






47. All costs associated with probate are born by whom?






48. What are the main types of investors?






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






50. What are the main characteristics of fixed annuities?