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 are the advantages of public exchange funds for low basis stock?






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






3. situational profiling - considerations






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






5. As desire to leave an estate increases...






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






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






8. characteristics of accumulation phase






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






10. Describe an individualistic investor personality type.






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

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






13. Equation for total wealth.






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






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

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16. What are the main characteristics of variable annuities?

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17. What is mortality risk?






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






19. What is HIFO accounting?






20. Define tax drag.






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






22. As age increases..






23. What are typical characteristics of active wealth creators?






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






25. typical IPS elements






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






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






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






29. What are the main characteristics of variable annuities?

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30. characteristics of accumulation phase






31. Define capital gains taxes.






32. characteristics of foundation stage






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






34. What is the general relationship between tax drag% and tax rate when capital gains taxes are deferred and B=1; and as investment horizon increases and return increases?






35. characteristics of spontaneous investor

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






37. As age increases..






38. What are investment objectives and constraints?






39. Investor questionnaires help to determine what?






40. sources of wealth






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

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42. psychological profiling






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






44. What are the different types of trusts?






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






46. stages of life






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






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






49. Generally - how does portfolio size - liquidity - time horizon - and/or importance of spending affect ability to tolerate risk?






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