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. Why do individuals often take steps to avoid probate?






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






3. What are the main characteristics of fixed annuities?

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






5. How is mortality risk typically hedged?






6. What are investment objectives and constraints?






7. characteristics of accumulation phase






8. Describe a spontaneous investor personality type.






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






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






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






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






13. 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?






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

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15. characteristics of distribution phase






16. characteristics of spontaneous investor

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






18. What are wealth taxes.






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

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






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






22. Human capital is sometimes referred to as what?






23. Human capital is sometimes referred to as what?






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






25. characteristics of maintenance phase






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






27. characteristics of methodical investor






28. What should an investor use in mean-variance optimization






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






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






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






32. As probability of death increases...






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






34. As age increases..






35. When should you use a tax-exempt versus a tax-deferred account?






36. What are the disadvantages of an outright sale of low basis stock?






37. As wealth increases...






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






39. As probability of death increases...






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






41. What are wealth taxes.






42. Define tax drag.






43. What are the main characteristics of chritable gifts?






44. characteristics of methodical investor






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






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






47. Describe the different types of double taxation conflicts.






48. What is the most common estate planning tool?






49. Calculating the required return component is driven by what 2 elements?






50. What is tax alpha?