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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 psychological issues of low basis stock held by an investor?






2. benefits of IPS to client






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






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






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






6. typical IPS elements






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






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






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






10. What is HIFO accounting?






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






12. Describe biased expectations in a behavioral finance context.






13. As wealth increases...






14. What are ways that individuals can avoid probate?






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






16. Any amount above core capital is considered what?






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






18. Equation for total wealth.






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

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20. What is measure of wealth?






21. Describe a cautious investor personality type.






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






23. What are wealth taxes.






24. How is demand for insurance affected by risk tolerance - financial wealth - probability of death - age - and bequest desire?






25. Describe a methodical investor personality type.






26. How is mortality risk typically hedged?






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






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






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






30. stages of life






31. Describe the different types of double taxation conflicts.






32. stages of life






33. What are the different stages of life?






34. four types of investors






35. Any amount above core capital is considered what?






36. What are investment objectives and constraints?






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






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






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






40. Investor questionnaires help to determine what?






41. What are the two sources of wealth?






42. What is mortality risk?






43. What is mortality risk?






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






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






46. Define tax drag.






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






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






49. characteristics of foundation stage






50. What are investment objectives and constraints?