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






2. characteristics of foundation stage






3. What are the main types of investors?






4. characteristics of spontaneous investor


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






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






7. four types of investors






8. What are the different stages of life?






9. Why would an individual try to use generation skipping in estate planning?






10. Define capital gains taxes.






11. What is measure of wealth?






12. What are the different types of trusts?






13. characteristics of spontaneous investor


14. Describe an individualistic investor personality type.






15. What is loss aversion?






16. Describe biased expectations in a behavioral finance context.






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






18. sources of wealth






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






20. What are the different stages of life?






21. characteristics of individualist investor






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






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






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






25. What are investment objectives and constraints?






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


27. What is HIFO accounting?






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






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






30. Describe asset segregation in a behavioral finance context.






31. What are the main characteristics of variable annuities?


32. What is tax alpha?






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






34. stages of life






35. What are the main characteristics of chritable gifts?






36. As wealth increases...






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






38. What is core capital?






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






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






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






42. What are ways that individuals can avoid probate?






43. As age increases..






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






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


46. situational profiling


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






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






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


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