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 general relationship b/t a client's perception of wealth and risk willingness?






2. psychological profiling






3. What is HIFO accounting?






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






5. Any amount above core capital is considered what?






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






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






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






9. What is human capital?






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






11. sources of wealth






12. What is tax alpha?






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






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






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






16. situational profiling






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






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






19. What is human capital?






20. 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?






21. Investor questionnaires help to determine what?






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






23. characteristics of spontaneous investor






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






25. What is intestate?






26. What are wealth taxes.






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






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






29. Describe a cautious investor personality type.






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






31. What are the psychological issues of low basis stock held by an investor?






32. As wealth increases...






33. What is loss aversion?






34. What are the different types of trusts?






35. What are the psychological issues of low basis stock held by an executive?






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






37. When calculating a required return - you typically must identify what?






38. characteristics of spontaneous investor






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






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






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






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






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






44. typical IPS elements






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






46. sources of wealth






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






48. Any amount above core capital is considered what?






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






50. What are the two sources of wealth?