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Private Wealth Management

Instructions:
  • Answer 50 questions in 15 minutes.
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  • 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. All costs associated with probate are born by whom?

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2. What are typical characteristics of active wealth creators?






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






4. four types of investors






5. What is human capital?






6. characteristics of accumulation phase






7. What is the general relationship b/t a client's perception of wealth and risk willingness?






8. What is the most common estate planning tool?






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






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






11. What are the main characteristics of variable annuities?

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






13. stages of life






14. characteristics of maintenance phase






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






16. Why would someone want to use a valuation discount?






17. template for return objective






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






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






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






21. Describe a cautious investor personality type.






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






23. What are the diffferent types of tax jurisdictions?






24. As wealth increases...






25. Investor questionnaires help to determine what?






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






27. What are wealth taxes.






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






29. As wealth increases...






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






31. benefits of IPS to client






32. What is intestate?






33. situational profiling

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34. sources of wealth






35. characteristics of foundation stage






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






37. What are the different stages of life?






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






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






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






41. What is mortality risk?






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






43. characteristics of distribution phase






44. What is HIFO accounting?






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






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






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






48. What are the different types of trusts?






49. 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?






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







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