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






2. characteristics of distribution phase






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






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






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






6. characteristics of maintenance phase






7. What are wealth taxes.






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






9. What is core capital?






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






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






12. What are the main characteristics of variable annuities?






13. What are typical characteristics of passive recipients of wealth?






14. Equation for total wealth.






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






16. Describe asset segregation in a behavioral finance context.






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






18. As age increases..






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






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






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






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






23. What are the diffferent types of tax jurisdictions?






24. 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?






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






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






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






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






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






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






31. What are the advantages of an outright sale of low basis stock?






32. What is mortality risk?






33. characteristics of cautious investor






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






35. What are the main characteristics of fixed annuities?






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






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






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






39. characteristics of spontaneous investor






40. What is HIFO accounting?






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






42. psychological profiling






43. As age increases..






44. As wealth increases...






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






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






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






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






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






50. What is human capital?